Company: FSBC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001275168-25-000038
Chunk: 6

Company: FIVE STAR BANCORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 6
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,125 

See accompanying notes to consolidated financial statements.

75

FIVE STAR BANCORP AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF INCOME

Years ended December 31, 2024, 2023, and 2022

(in thousands, except per share amounts)202420232022Interest and fee income:  Loans, including fees$193,341 $162,713 $111,795 Taxable securities1,830 1,876 1,714 Nontaxable securities700 724 713 Interest-bearing deposits in banks11,080 9,069 3,696 Total interest and fee income206,951 174,382 117,918 Interest expense:Deposits82,398 57,861 10,923 Subordinated notes4,646 4,646 3,740 Other borrowings196 995 185 Total interest expense87,240 63,502 14,848 Net interest income119,711 110,880 103,070 Provision for credit losses6,950 4,000 6,700 Net interest income after provision for credit losses112,761 106,880 96,370 Non-interest income:Service charges on deposit accounts721 575 467 Net gain (loss) on sale of securities— (167)5 Gain on sale of loans1,274 1,952 2,934 Loan-related fees1,605 1,719 2,207 FHLB stock dividends1,320 970 546 Earnings on BOLI644 510 412 Other889 1,952 586 Total non-interest income6,453 7,511 7,157 Non-interest expense:Salaries and employee benefits31,709 27,097 22,571 Occupancy and equipment2,547 2,218 2,059 Data processing and software5,088 4,015 3,091 FDIC insurance1,635 1,557 850 Professional services3,078 2,575 2,467 Advertising and promotional2,411 2,403 1,908 Loan-related expenses1,207 1,192 1,287 Other operating expenses6,818 6,718 6,436 Total non-interest expense54,493 47,775