Company: FSBC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038796
Chunk: 189

Company: FIVE STAR BANCORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 189
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, stating that it had concluded that the final rule exceeds the agency’s statutory authority and is arbitrary and capricious. The CFPB requested that the court vacate the final rule. On July 29, 2025, the CFPB filed a motion to stay the proceedings, announcing its plans to issue an advanced notice of proposed rulemaking that will serve as the starting point of an accelerated rulemaking process for a new final rule. The same day, the court granted the CFPB’s motion to stay and denied the CFPB’s summary judgment motion without prejudice.

On July 18, 2025, President Trump signed the Guiding and Establishing National Innovation for U.S. Stablecoins Act, or the “GENIUS Act,” into law, establishing a federal licensing and supervisory framework for payment stablecoins and their issuers. The GENIUS Act may accelerate and increase the competition that non-traditional financial institutions pose to banks’ payment services, but may also create opportunities for banks to hold stablecoin reserve assets, custody stablecoins, or issue stablecoins. Several key provisions of the GENIUS Act require federal regulatory agencies to adopt implementing regulations, and the Act will take effect the earlier of 18 months after its enactment or 120 days after the agencies issue final implementing regulations.

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Glossary of Acronyms, Abbreviations, and Terms

The terms identified below are used in various sections of this Form 10-Q, including “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Item 2 and the unaudited Consolidated Financial Statements and Notes to the Financial Statements in Item 1 of this Form 10-Q.

2024 Annual Report on Form 10-KCompany’s Annual Report on Form 10-K for the year ended December 31, 2024FFIECFederal Financial Institutions Examination CouncilACLAllowance for Credit LossesFHLBFederal Home Loan Bank of San FranciscoASCAccounting Standards CodificationFHLMCFederal Home Loan Mortgage CorporationASUAccounting Standards UpdateFNMAFederal National Mortgage AssociationBancorpFive Star Bancorp and its subsidiaryGAAPGenerally Accepted Accounting Principles in the U.S.BankFive Star BankGNMAGovernment National Mortgage AssociationBasel IIIA capital framework and rules for U.S. banking organizationsGSEGovernment Sponsored EntityBOLIBank-Owned Life InsuranceIPOInitial Public OfferingCECLCurrent Expected Credit LossLMLoan modification made to borrower experiencing financial difficultyCFPBConsumer Financial Protection Bureau