FS Bancorp in Mountlake Terrace, Wash., is planning to sell $20 million in common stock.

The $928.6 million-asset company said in a press release Tuesday that proceeds from the offering would the used for general corporate purposes such as acquisitions and increased lending.

FS Bancorp could raise another $3 million if there is enough demand for the offering.

The company bought four Bank of America branches early last year, increasing its total number of locations to 11.

Raymond James is the offering’s bookrunning manager. D.A. Davidson and FIG Partners are the co-managers.

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Allison Prang

Allison Prang

Allison Prang is a reporter for American Banker, where she writes about community banks.