Company: FSBC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038796
Chunk: 31

Company: FIVE STAR BANCORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 incurred in conjunction with the notes were $1.5 million, of which $0.4 million has been amortized as of June 30, 2025. The Company reflects debt issuance costs as a direct deduction from the face of the note. The debt issuance costs are amortized into interest expense through the maturity period. At June 30, 2025 and December 31, 2024, the carrying value of the Company’s subordinated notes outstanding was $74.0 million and $73.9 million, respectively.Other borrowings: The Company entered into an agreement with the FHLB which granted the FHLB a blanket lien on certain loans receivable as collateral for a borrowing line. The Company’s total financing availability is based on the dollar volume of qualifying loan collateral. The Company’s total financing availability with the FHLB is decreased by outstanding borrowings and letters of credit (“LCs”) issued on behalf of the Company, as shown in Table 6.1.Table 6.1: Financing Availability with the FHLB(in thousands)June 30, 2025December 31, 2024Total financing ability from the FHLB$1,290,446 $1,212,209 Less: outstanding borrowings— — Less: LCs pledged to secure State of California deposits312,500 281,500 Less: LCs pledged to secure local agency deposits420,000 420,000 Total LCs issued732,500 701,500 Available borrowing capacity with the FHLB$557,946 $510,709 As of June 30, 2025 and December 31, 2024, the Company had the ability to borrow from the Federal Reserve Discount Window. The borrowings were available at an interest rate of 4.50% as of June 30, 2025. At June 30, 2025 and December 31, 2024, the borrowing capacity under this arrangement was $926.6 million and $862.1 million, respectively. There were no amounts outstanding at June 30, 2025 or December 31, 2024. The borrowing line is secured by certain liens on the Company’s loans and certain available-for-sale securities. At June 30, 2025 the Company had five unsecured federal funds lines of credit totaling $185.0 million with five of its correspondent banks. At December 31, 2024, the Company