FS Bancorp, the holding company for 1st Security Bank of Washington, promoted Sean McCormick and Robert Nesbitt to the positions of chief credit administration officer and chief credit operations officer of the bank, respectively.
McCormick will have primary responsibility for overseeing the bank’s credit strategy, credit risk and financial analysis of the Bank’s loan portfolios. McCormick 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.
McCormick joined 1st Security Bank as a commercial credit analyst in 2011. In 2023, he was promoted to senior vice president, 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. McCormick 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. McCormick 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.
Nesbitt is in charge of the bank’s commercial credit operations. Nesbitt 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 vice president, commercial lending relationship manager and has been actively involved in helping build the bank’s highly successful commercial lending team.
Nesbitt 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,” Joe Adams, CEO of the bank, said. “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.”
