Company: FSBC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001275168-25-000106
Chunk: 101

Company: FIVE STAR BANCORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 101
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 $— $(367)$2,353 For securities issued by states and political subdivisions, for purposes of evaluating whether to recognize credit loss expense, management considers: (i) issuer and/or guarantor credit ratings; (ii) historical probability of default and loss given default rates for given bond ratings and remaining maturity; (iii) whether issuers continue to make timely principal and interest payments under the contractual terms of the securities; (iv) internal credit review of the financial information; and (v) whether or not such securities have credit enhancements such as guarantees, contain a defeasance clause, or are pre-refunded by the issuers.

11

As of March 31, 2025 and December 31, 2024, the allowance for credit losses on held-to-maturity securities, at amortized cost, was $20.0 thousand. The Company did not record an allowance for credit losses on available-for-sale securities as of March 31, 2025 or December 31, 2024.A summary of the amortized cost and fair value related to securities available-for-sale as of March 31, 2025 and December 31, 2024 is presented in Table 3.2. Securities available-for-sale did not have an allowance for credit losses as of March 31, 2025 or December 31, 2024.Table 3.2: Securities Available-for-Sale(in thousands)Amortized CostGross Unrealized Fair ValueGains(Losses) March 31, 2025U.S. government agency securities$7,513 $147 $(86)$7,574 Mortgage-backed securities61,210 16 (10,929)50,297 Obligations of states and political subdivisions42,630 1 (5,559)37,072 Collateralized mortgage obligations289 — (22)267 Corporate bonds2,000 — (99)1,901 Total available-for-sale$113,642 $164 $(16,695)$97,111 December 31, 2024U.S. government agency securities$8,293 $152 $(100)$8,345 Mortgage-backed securities62,397 6 (11,833)50,570 Obligations of states and political subdivisions42,762 1 (5,626)37,137 Collateralized mortgage obligations305 — (