FIVE STAR BANCORP

Listed Company

FSBCCIK 0001275168NasdaqEmerging GrowthState Commercial BanksCaliforniaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$61.61M

Total Assets

$4.75B

Equity

$445.83M

Shares Out

21.38M

Op. Cash Flow

$72.61M

Business

Five Star Bancorp is a bank holding company that operates through its wholly owned subsidiary, Five Star Bank, providing commercial banking services to businesses, professionals, and individuals. The company offers a range of products and services including commercial and residential lending, SBA lending and loan sales, deposit accounts and treasury management, online and mobile banking, and investment securities. Its business is organized around lending (with an emphasis on commercial real estate and commercial lending), deposit gathering and treasury solutions, and related risk-management and support functions. Five Star primarily serves Northern California, concentrated in the Greater Sacramento area, and distributes services through a local branch network, relationship bankers, and digital channels, with ongoing expansion into the San Francisco Bay Area.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans, including fees	229	193	163	112	79
Taxable securities	2	2	2	2	1
Nontaxable securities	672,000	700,000	724,000	713,000	821,000
Interest-bearing deposits in banks	17	11	9	4	547,000
Total interest and fee income	249	207	174	118	82
Deposits	92	82	58	11	2
Subordinated notes	5	5	5	4	2
Other borrowings	0	196,000	995,000	185,000	—
Total interest expense	97	87	64	15	—
Net interest income	152	120	111	103	78
Provision for credit losses	10	7	4	7	2
Net interest income after provision for credit losses	142	113	107	96	76
Service charges on deposit accounts	755,000	721,000	575,000	467,000	424,000
Net gain (loss) on sale of securities	0	0	−167,000	5,000	—
Gain on sale of loans	244,000	1	2	3	4
Loan-related fees	2	2	2	2	1
FHLB stock dividends	1	1	970,000	546,000	372,000
Earnings on BOLI	824,000	644,000	510,000	412,000	237,000
Other	1	889,000	2	586,000	135,000
Total non-interest income	7	6	8	7	7
Salaries and employee benefits	38	32	27	23	20
Occupancy and equipment	3	3	2	2	2
Data processing and software	6	5	4	3	2
FDIC insurance	2	2	2	850,000	700,000
Professional services	4	3	3	2	4
Advertising and promotional	3	2	2	2	1
Loan-related expenses	1	1	1	1	1
Other operating expenses	8	7	7	6	5
Total non-interest expense	65	54	48	41	36
Income before provision for income taxes	84	65	67	63	47
Provision for income taxes	22	19	19	18	5
Net income	62	46	48	45	42
Basic earnings per common share (in USD per share)	2.9	2.26	2.78	2.61	2.83
Diluted earnings per common share (in USD per share)	2.9	2.26	2.78	2.61	2.83

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from financial institutions	34	34	27	33	136
Interest-bearing deposits in banks	473	318	295	227	289
Cash and cash equivalents	507	352	322	260	425
Time deposits in banks	100,000	4	6	10	14
Securities available-for-sale, at fair value, net of allowance for credit losses of $0 at December 31, 2025 and 2024 (amortized cost of $107,197 and $115,757 at December 31, 2025 and 2024, respectively)	95	98	108	116	149
Securities held-to-maturity, at amortized cost, net of allowance for credit losses of $20 at December 31, 2025 and 2024 (fair value of $1,995 and $2,353 at December 31, 2025 and 2024, respectively)	2	3	3	4	5
Loans held for sale	0	3	11	9	11
Loans held for investment	4,075	3,533	3,082	2,791	—
Allowance for credit losses	−44	−38	−34	−28	−23
Loans held for investment, net of allowance for credit losses	4,031	3,495	3,047	2,763	—
FHLB stock	15	15	15	11	7
Operating leases, right-of-use asset, net	11	6	5	4	0
Premises and equipment, net	2	2	2	2	2
Bank-owned life insurance, net	24	19	17	15	11
Interest receivable and other assets	69	56	57	34	22
Total assets	4,755	4,053	3,593	3,227	2,557
Non-interest-bearing	1,085	923	831	971	902
Interest-bearing	3,117	2,635	2,196	1,811	1,384
Total deposits	4,201	3,558	3,027	2,782	2,286
Subordinated notes, net	74	74	74	74	28
Other borrowings	0	0	170	—	—
Operating lease liability	12	7	6	4	0
Interest payable and other liabilities	22	18	31	14	7
Total liabilities	4,309	3,657	3,307	2,974	2,322
Commitments and contingencies (Note 15)	—	—	—	—	—
Preferred stock, no par value; 10,000,000 shares authorized; zero issued and outstanding at December 31, 2025 and 2024	0	0	0	0	0
Common stock, no par value; 100,000,000 shares authorized; 21,367,387 shares issued and outstanding at December 31, 2025; 21,319,083 shares issued and outstanding at December 31, 2024	304	303	221	220	218
Retained earnings	151	106	77	47	17
Accumulated other comprehensive loss, net of taxes	−9	−12	−12	−13	−566,000
Total shareholders equity	446	397	286	253	235
Total liabilities and shareholders equity	4,755	4,053	3,593	3,227	2,557

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	2	2	2	2	607,000
Amortization of deferred loan fees and costs	170,000	−337,000	117,000	534,000	—
Amortization of premiums and discounts on securities	800,000	943,000	1	1	2
Amortization of subordinated note issuance costs	146,000	146,000	144,000	122,000	66,000
Amortization of low income housing tax credits	2	1	291,000	0	—
Stock compensation expense	1	1	962,000	1	1
Deferred tax provision	−578,000	−243,000	−897,000	−2	−4
Purchase of transferable tax credits	−7	0	0	—	—
Loans originated for sale	−1	−22	−48	−60	−48
Gain on sale of loans	−244,000	−1	−2	−3	−4
Gross proceeds from sale of loans	4	20	38	54	43
Net loss (gain) on sale of securities available-for-sale	0	0	167,000	−5,000	−724,000
Earnings on equity investments	−821,000	−545,000	−2	0	—
Interest receivable and other assets	−3	3	−4	−5	−3
Interest payable and other liabilities	6	−3	2	7	−230,000
Operating lease liability	−1	−916,000	−900,000	−978,000	0
Net cash provided by operating activities	73	52	39	46	29
Proceeds from sale of securities available-for-sale	0	0	737,000	2	47
Maturities, prepayments, and calls of securities available-for-sale	9	8	10	16	19
Purchases of securities available-for-sale	−1	0	−1	−3	−100
Capital call for equity investments	−2	−3	−1	0	—
Proceeds received from equity investments	283,000	1	2	—	—
Capital call for low income housing tax credits	−6	−10	−2	—	—
Net change in time deposits in banks	4	2	4	5	9
Loan originations, net of repayments	−544	−443	−284	−848	−427
Purchase of premises and equipment, net	−1	−628,000	−653,000	−481,000	−717,000
Purchase of FHLB stock	0	0	−4	−4	−491,000
Purchase of BOLI	−4	−2	−2	−3	−2
Other real estate sale proceeds	87,000	0	0	—	—
Net cash used in investing activities	−544	−447	−279	−837	−455
Net change in deposits	643	531	245	496	502
Proceeds from issuance of stock, net of issuance costs	0	81	0	0	111
(Payments) advances on other borrowings	0	−170	70	100	—
Cash dividends paid	−17	−16	−13	−15	−52
Net cash provided by financing activities	626	426	302	626	561
Net change in cash and cash equivalents	155	31	62	−165	135
Interest paid	98	87	62	1	5
US Federal	12	—	—	—	—
US Federal - IRC 45X Tax Credits	7	—	—	—	—
Total	25	17	20	5	10
Transfer from loans held for sale to loans held for investment	1	11	9	11	—
Unrealized gain (loss) on securities	5	−858,000	2	−18	−2
Operating lease liabilities exchanged for ROUA	6	2	2	5	0
ROUA acquired	−6	−2	−2	0	—
Increase (decrease) in commitment for low income housing tax credits	10	−531,000	14	—	—

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