1st Security Bank Announces the Promotions of Sean McCormick and Robert Nesbitt to Executive Vice President roles
20 Maio 2024 - 1:52PM
FS Bancorp, Inc. (NASDAQ: FSBW), the holding company for 1st
Security Bank of Washington (“1st Security” or “Bank”) announced
today the promotions of Sean McCormick and Robert Nesbitt to the
positions of Chief Credit Administration Officer and Chief Credit
Operations Officer of the Bank, respectively.
Sean McCormick will assume the role of
Chief Credit Administration Officer and will have
primary responsibility for overseeing the Bank’s credit strategy,
credit risk, and financial analysis of the Bank’s loan portfolios.
Sean brings a tremendous amount of institutional knowledge to this
role, having spent 11 years working directly under Rob Fuller, the
long time, and recently retired former Chief Credit Officer of the
Bank.
Sean joined 1st Security Bank as a Commercial Credit Analyst in
2011. In 2023, he was promoted to SVP Director of Credit
Administration. He has been instrumental in the prudent growth and
expansion of the Bank’s loan portfolios and the Bank’s credit risk
mitigation efforts. Sean holds a BA in Finance from the University
of Washington and graduated from the American Bankers Association
Stonier Graduate School of Banking. He received a leadership
certificate from the Wharton Executive Education Program in 2022.
Sean continues to volunteer with the Stonier Graduate School of
Banking as a mentor for third year students. He is also a member of
the Finance Committee for the Master Builders Association of King
and Snohomish counties.
In addition, Robert Nesbitt has been named
Chief Credit Operations Officer
for the Bank in charge of its commercial credit operations. Robert
has been in the commercial banking industry for 25 years, focusing
on commercial and industrial lending and commercial real estate
lending at both regional and large community banks. Robert joined
1st Security in 2017 as VP Commercial Lending Relationship Manager
and has been actively involved in helping build the Bank’s highly
successful commercial lending team.
Robert holds a BA in History from the University of Tennessee
and an MBA from the University of Chicago. He volunteers with Food
Lifeline and is an active member of the Association of General
Contractors and the Community Association Institute.
“1st Security Bank is extremely fortunate to have two
individuals of Sean and Robert’s caliber lead our credit strategy,
credit risk, and commercial loan operations. Together they have
over 40 years of experience and have both been strategic and
inspiring leaders, highly respected by their peers at building
connections throughout the Bank,” said Joe Adams, Chief Executive
Officer. “With their combined experience and complementary
leadership styles, they will partner to provide best in class
service to our customers and position the Bank for future growth
and success in Washington and Oregon.”
About 1st
Security Bank of
Washington
1st Security Bank, member FDIC and Equal Housing Lender,
provides loan and deposit services to customers at its twenty-seven
branches across Washington and Oregon, with mortgage services at
each branch as well as lending offices in the Pacific Northwest.
For more information visit 1st Security Bank’s website at
www.fsbwa.com.
Note Regarding
Forward Looking
StatementsThis press release includes
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, which can be identified
by words such as "may," "expected," "anticipate", "continue," or
other comparable words. In addition, all statements other than
statements of historical facts that address activities that 1st
Security expects or anticipates will or may occur in the future are
forward-looking statements. Readers are encouraged to read the
Securities and Exchange Commission reports of FS Bancorp,
particularly its Annual Report on Form 10-K for the fiscal year
ended December 31, 2023, for meaningful cautionary language
discussing why actual results may vary materially from those
anticipated by management.
MEDIA CONTACTCamberly
GilmartinAVP, Marketing Manager 1st Security
Bankcamberly.gilmartin@fsbwa.com
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e9df32fb-afa8-4da4-b7af-c5947ba671d7
https://www.globenewswire.com/NewsRoom/AttachmentNg/f50da354-ace2-42ce-a83f-d853e8cee106
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