Company: FSBC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001275168-25-000106
Chunk: 3

Company: FIVE STAR BANCORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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216 $(12,440)$292,580 Balance at December 31, 202421,319,083 $302,531 $106,464 $(12,371)$396,624 Net income— — 13,111 — 13,111 Other comprehensive income— — — 725 725 Stock issued under stock award plans10,485 — — — — Stock compensation expense— 257 — — 257 Stock forfeitures(333)— — — — Cash dividends paid ($0.20 per share)— — (4,266)— (4,266)Balance at March 31, 202521,329,235 $302,788 $115,309 $(11,646)$406,451 

See accompanying notes to the unaudited consolidated financial statements.

4

FIVE STAR BANCORP AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Three Months Ended March 31,(in thousands)20252024Cash flows from operating activities:Net income$13,111 $10,631 Adjustments to reconcile net income to net cash provided by operating activities:Provision for credit losses1,900 900 Depreciation and amortization461 472 Amortization of deferred loan fees and costs51 (127)Amortization of premiums and discounts on securities221 246 Amortization of subordinated note issuance costs36 36 Amortization of low income housing tax credits354 — Stock compensation expense257 299 Earnings on BOLI(161)(142)Deferred tax provision— 6 Loans originated for sale(4,390)(15,453)Gain on sale of loans(125)(369)Gross proceeds from sale of loans1,846 5,580 Gain on partial sale of equity investment— 300 Net changes in:Interest receivable and other assets(1,644)2,050 Interest payable and other liabilities3,821 (3,941)Operating lease liability(266)(241)Net cash provided by operating activities15,472 247 Cash flows from investing activities:Maturities, prepayments, and calls of securities available-for-sale2,029 1,953 Capital call for equity investment(1,250)(1,000)Proceeds received from equity investment