Company: FSBC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001275168-25-000038
Chunk: 45

Company: FIVE STAR BANCORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 45
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 40,669 Income before provision for income taxes64,721 66,616 62,858  Provision for income taxes19,050 18,882 18,057  Net income$45,671 $47,734 $44,801  Basic earnings per common share$2.26 $2.78 $2.61 Diluted earnings per common share$2.26 $2.78 $2.61 

See accompanying notes to consolidated financial statements.

76

FIVE STAR BANCORP AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

Years ended December 31, 2024, 2023, and 2022

(in thousands)202420232022Net income$45,671 $47,734 $44,801 Unrealized (loss) gain on securities:Net unrealized holding (loss) gain on securities available-for-sale during the period(858)2,228 (18,291)Reclassification for net loss (gain) on sale of securities included in net income— 167 (5)Less: Income tax (benefit) expense related to items of other comprehensive (loss) income(254)708 (5,408)Other comprehensive (loss) income(604)1,687 (12,888)Total comprehensive income$45,067 $49,421 $31,913 

See accompanying notes to consolidated financial statements.

77

FIVE STAR BANCORP AND SUBSIDIARY 

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

Years ended December 31, 2024, 2023, and 2022

(in thousands, except share and per share amounts)Common StockRetained EarningsAccumulated Other Comprehensive (Loss) Income Total Shareholders’ EquitySharesAmountBalance at December 31, 202117,224,848 $218,444 $17,168 $(566)$235,046 Cumulative effect of adoption of ASC 842 on retained earnings— — 68 — 68 Net income— — 44,801 — 44,801 Other comprehensive loss— — — (12,888)(12,888)Stock issued under stock award plans23,639 — — — — Stock compensation expense—