Company: FSBC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001275168-25-000106
Chunk: 41

Company: FIVE STAR BANCORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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31, 2025, and 3.14% for the three months ended March 31, 2024. The increase in net interest margin for the three months ended March 31, 2025 compared to the three months ended March 31, 2024 was primarily due to a higher balance of loans with higher yields, partially offset by an increase in interest expense due to larger average deposit balances.

•Efficiency Ratio. Efficiency ratio was 42.58% for the three months ended March 31, 2025, down from 44.50% for the corresponding period of 2024, mainly due to a $9.5 million, or 20.08%, increase in interest and fee income during the same period.

•Capital Ratios. All capital ratios were above well-capitalized regulatory thresholds as of March 31, 2025. The total risk-based capital ratio for the Company was 13.97% at March 31, 2025, as compared to 13.99% at December 31, 2024. The Tier 1 leverage ratio was 10.17% at March 31, 2025, as compared to 10.05% at December 31, 2024. For additional information about the regulatory capital requirements applicable to the Company and the Bank, see the section entitled “—Financial Condition Summary—Capital Adequacy” below.

•Dividends. The board of directors declared a cash dividend of $0.20 per share on January 16, 2025.

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Highlights of our financial results are presented in the following tables:

Table 1: Highlights of Financial Results(dollars in thousands)March 31, 2025December 31, 2024Selected financial condition data:Total assets$4,245,057 $4,053,278 Total loans held for investment3,621,819 3,532,686 Total deposits3,736,354 3,557,994 Total subordinated notes, net73,932 73,895 Total shareholders’ equity406,451 396,624 Asset quality ratios:Allowance for credit losses to total loans held for investment1.08 %1.07 %Allowance for credit losses to nonperforming loans2,222.32 %2,101.78 %Nonperforming loans to total loans held for investment0.05 %0.05 %Capital ratios: