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Five Star Bancorp (FSBC) is a leading bank holding company headquartered in Rancho Cordova, California. Operating through its wholly-owned subsidiary, Five Star Bank, the company provides a broad range of banking products and services tailored to small and medium-sized businesses, professionals, and individuals. Established in 1999 by local entrepreneurs, Five Star Bank has grown to be among the top-performing banks in its size category in the United States.
With a strong presence in Northern California, Five Star Bank maintains offices in key locations including Rocklin, Sacramento, Elk Grove, Rancho Cordova, Chico, and Redding. The bank's commitment to community development is evident through its focus on reinvesting capital within the Capital Region, fostering economic growth and stability.
Five Star Bank offers a variety of loan products such as commercial real estate loans, commercial loans, commercial land and construction loans, and farmland loans. In addition to its loan products, the bank provides deposit products including checking accounts, savings accounts, money market accounts, and term certificate accounts. The bank’s expedient decision-making is powered by professionals with regional expertise, providing clients with prompt and efficient service.
In recent news, Five Star Bancorp announced its financial results for the quarter and year ending December 31, 2023, with a live webcast scheduled for January 30, 2024, to discuss these results. The company continues to make significant strides in the San Francisco Bay Area, filling a gap in personalized concierge banking left by the failures of Silicon Valley Bank and First Republic Bank. Under the leadership of the Bay Area Region President DJ Kurtze, a team of experienced commercial banking professionals is driving client acquisition and retention.
Five Star Bank has received numerous accolades for its performance and community impact. It was named the best-performing U.S. community bank with assets between $3 billion and $10 billion in the 2022 S&P Global Market Intelligence annual ranking. Additionally, it was awarded the 2022 Raymond James Community Bankers Cup, recognizing the top 10% of community banks in the nation based on various profitability, operational efficiency, and balance sheet metrics.
For more information about Five Star Bancorp, visit their official website at www.fivestarbank.com. As a member of the FDIC and an equal housing lender, Five Star Bank remains dedicated to meeting the financial needs of its community while maintaining a strong commitment to regulatory compliance and financial integrity.
Five Star Bancorp (Nasdaq: FSBC) will announce its financial results for Q3 2022 on October 24, 2022, after market close. A live webcast for analysts and investors will follow on October 25, 2022, at 1:00 PM ET. The webcast can be accessed from the Company's website and will be archived for 90 days. Five Star Bancorp, based in Rancho Cordova, California, operates through its subsidiary, Five Star Bank, which has seven branches and one loan production office in Northern California.
Five Star Bancorp (Nasdaq: FSBC) announced the successful completion of a $75 million private placement of subordinated notes due September 1, 2032. The fixed-to-floating rate notes will offer a 6.00% interest rate for the first five years, resetting quarterly thereafter. Proceeds will be used for general corporate purposes, including the redemption of existing subordinated notes. The offering was made through qualified institutional buyers, adhering to securities regulations. This move is anticipated to support long-term growth objectives, as stated by CEO James Beckwith.
On July 26, 2022, KBRA assigned Five Star Bancorp (NASDAQ: FSBC) a senior unsecured debt rating of BBB and a subordinated debt rating of BBB-. Five Star Bank, the main subsidiary, received deposit and senior unsecured debt ratings of BBB+. The Outlook for all long-term ratings is Stable. The favorable ratings reflect a robust branch-based deposit franchise, a competitive efficiency ratio (~40%), and solid capital accretion potential. However, the company faces concentration risks in commercial real estate and has experienced negative impacts on capital levels due to structural changes.
Five Star Bancorp (FSBC) reported a net income of $10.0 million for the second quarter of 2022, up from $9.9 million in Q1 2022 and $9.8 million in Q2 2021. Total loans held for investment rose by 14.44% to $2.4 billion compared to March 2022, and 50.15% year-over-year. Non-interest income declined to $1.997 million, driven by lower gains on loan sales. Provision for loan losses increased by 136.84% to $2.25 million, reflecting loan growth. The company's total assets reached $2.8 billion, a 10.92% increase since year-end 2021, while shareholders’ equity slightly decreased to $233.2 million.
Five Star Bancorp (Nasdaq: FSBC) declared a cash dividend of $0.15 per share on its voting common stock, scheduled for payment on August 15, 2022. This dividend will benefit shareholders of record as of August 8, 2022. The company operates through its wholly owned banking subsidiary, Five Star Bank, which has seven branches and one loan production office in Northern California.
Five Star Bancorp (Nasdaq: FSBC) announced it will release its financial results for Q2 2022 on July 25, 2022, after the market closes. A live webcast for analysts and investors is scheduled for July 26, 2022, at 1:00 PM ET, to discuss the results. The webcast will be available on the Company’s website, and a recording will be accessible for 90 days. Five Star Bancorp, headquartered in Rancho Cordova, operates through its wholly owned subsidiary, Five Star Bank, with seven branches and one loan production office in Northern California.
Five Star Bancorp (Nasdaq: FSBC) has announced a collaboration with Sacramento Municipal Utility District (SMUD) and LoanGlide to offer Sustainable Home Improvement Loans aimed at financing energy efficiency upgrades for residential customers. These loans cover a range of improvements, from gas to electric appliance conversions to solar installations. The attractive annual percentage rates (APRs) range from 4.99% to 7.49%, and the application process is streamlined with electronic signatures. This initiative emphasizes the bank's commitment to sustainable energy solutions.
Five Star Bancorp (Nasdaq: FSBC) reported a net income of $9.9 million for the quarter ending March 31, 2022, down from $11.3 million the previous quarter. The decrease is attributed to increased tax expenses following its conversion to a C Corporation. Loan growth remained strong, with total loans reaching $2.08 billion, a 7.53% increase from the previous quarter. However, the net interest margin decreased to 3.60%, down from 3.67%. The company declared a dividend of $0.15 per share. Performance metrics indicate a return on average assets (ROAA) of 1.53% and a return on average equity (ROAE) of 17.07%.
Five Star Bancorp (Nasdaq: FSBC) has declared a cash dividend of $0.15 per share on its common stock. This dividend is set to be paid on May 16, 2022, to shareholders on record as of May 9, 2022. The company continues to operate through its banking subsidiary, Five Star Bank, which has a presence in Northern California with seven branches and two loan production offices.
Five Star Bancorp (Nasdaq: FSBC) will announce its financial results for the quarter ending March 31, 2022, on April 25, 2022, after market close. A live webcast for analysts and investors is scheduled for April 26, 2022, at 1:00 PM ET, where management will review these results. Interested parties can register for the event through the Company’s website, and the webcast will be archived for 90 days. Five Star Bancorp operates through its wholly-owned subsidiary, Five Star Bank, with multiple branches and loan production offices in Northern California.
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