Five Star Bancorp - FSBC STOCK NEWS

Five Star Bancorp (Nasdaq: FSBC) announced that President and CEO James Beckwith has been elected to the California Chamber of Commerce (CalChamber) Board of Directors. Beckwith will serve a three-year term starting January 1, 2025. As a board member, he will support CalChamber's mission to strengthen California's economy and advocate for business-friendly policies at both state and federal levels.

CalChamber President Jennifer Barrera highlighted the importance of board diversity and welcomed Beckwith's perspective. The organization serves as California's largest broad-based government advocate, working to enhance the state's economic growth and employment opportunities.

Five Star Bancorp (FSBC) has announced a quarterly cash dividend of $0.20 per share on its voting common stock. The dividend will be paid on February 10, 2025, to shareholders of record as of February 3, 2025. The company operates through its wholly owned subsidiary, Five Star Bank.

Five Star Bancorp (FSBC) has announced it will release its financial results for the fourth quarter and full year 2024 after market close on Monday, January 27, 2025. The company will host a live webcast for analysts and investors to discuss these results on January 28, 2025, at 1:00 PM ET (10:00 AM PT). The webcast will be accessible through the 'News & Events' section of Five Star's website and will remain archived for 90 days. Interested participants are required to pre-register for the event.

Five Star Bancorp (FSBC) reported Q3 2024 net income of $10.9 million, slightly up from $10.8 million in Q2 2024. Key highlights include: total loans held for investment increased by $194.3 million (5.95%), total deposits grew by $250.3 million (7.95%), and net interest margin slightly decreased to 3.37%. The bank expanded its presence in San Francisco's Financial District, with the Bay Area team growing to 24 employees and generating $189.0 million in deposits. The efficiency ratio improved to 43.37% from 44.07% in Q2. The company maintained strong asset quality with nonperforming loans at 0.05% and declared a quarterly cash dividend of $0.20 per share.

Five Star Bancorp (Nasdaq: FSBC), the holding company of Five Star Bank, has declared a cash dividend of $0.20 per share on its voting common stock. The dividend is scheduled for payment on November 12, 2024, to shareholders of record as of November 4, 2024. This announcement demonstrates the company's commitment to providing returns to its shareholders and may indicate financial stability. However, investors should consider the sustainability of such dividends and their impact on the company's overall financial health.

Five Star Bancorp (Nasdaq: FSBC), a holding company operating through its wholly owned subsidiary Five Star Bank, has announced its plans to report financial results for the third quarter ended September 30, 2024. The company will release its earnings after the stock market closes on Monday, October 28, 2024.

Following the release, Five Star Bancorp will host a live webcast for analysts and investors to review the financial results. The webcast is scheduled for Tuesday, October 29, 2024, at 1:00 PM ET (10:00 AM PT). Interested parties can access the webcast from the "News & Events" section under "Events" on the company's investor relations website. Pre-registration is required for participation. The webcast will remain archived on the company's website for 90 days after the event.

Five Star Bancorp (Nasdaq: FSBC) has opened its first full-service office in San Francisco, expanding its presence in the Bay Area. The 4,000-square-foot office, located at 345 California Street, Suite 2875, will offer personalized, concierge banking services to meet client needs and protect against fraud. This move follows the hiring of 22 Bay Area banking professionals since 2023.

Five Star Bank's President and CEO, James Beckwith, emphasized the company's commitment to bringing client-focused services to the area. The new office features an open floor plan with views of San Francisco and the Bay. Five Star Bank has received numerous awards, including the 2024 Greater Sacramento Economic Council's Sustainability Award and rankings in various industry lists for performance and service.

Five Star Bancorp (Nasdaq: FSBC) reported Q2 2024 net income of $10.8 million, a slight increase from Q1 2024's $10.6 million but down from Q2 2023's $12.7 million. Key highlights include a 20.2% annualized increase in total loans and a 26.2% annualized increase in total deposits. Net interest margin improved to 3.39% from 3.14% in Q1 2024. The company eliminated $120.0 million in short-term borrowings and raised $80.9 million through a public offering. Basic and diluted EPS were $0.51, down from Q1 2024's $0.62 and Q2 2023's $0.74. The company declared a second-quarter dividend of $0.20 per share.

Non-interest income fell by $0.3 million compared to Q1 2024 and by $1.2 million compared to Q2 2023. Non-interest expenses rose by $0.8 million quarter-over-quarter and by $1.5 million year-over-year. The company's efficiency ratio improved slightly to 44.07%. The allowance for credit losses increased to $35.4 million, with a notable rise in loans designated as watch.

Five Star Bancorp (Nasdaq: FSBC), the holding company of Five Star Bank, has declared a cash dividend of $0.20 per share on its voting common stock. The dividend is scheduled to be paid on August 12, 2024, to shareholders of record as of August 5, 2024. This announcement demonstrates the company's commitment to providing returns to its shareholders and may indicate confidence in its financial stability and performance.