Company: FSBC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050090
Chunk: 153

Company: FIVE STAR BANCORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 153
---
 the first nine months of 2025 is mainly due to increases in loan growth and an overall increase in loss rates related to the annual CECL model refresh.

Non-interest Income

Non-interest income is a secondary contributor to our net income, following interest income. Non-interest income consists of service charges on deposit accounts, net gain on sale of securities, gain on sale of loans, loan-related fees, FHLB stock dividends, earnings on BOLI, and other income.

Three months ended September 30, 2025 compared to three months ended September 30, 2024

Table 7 details the components of non-interest income for the periods indicated.

Table 7: Non-interest IncomeFor the three months ended(dollars in thousands)September 30, 2025September 30, 2024$ Change% ChangeService charges on deposit accounts$185 $165 $20 12.12 %Gain on sale of loans— 306 (306)(100.00)%Loan-related fees683 406 277 68.23 %FHLB stock dividends329 327 2 0.61 %Earnings on BOLI209 162 47 29.01 %Other income560 15 545 3,633.33 %Total non-interest income$1,966 $1,381 $585 42.36 %

Gain on sale of loans. The decrease related to an overall decline in the volume of loans sold due to a strategic, intentional reduction in originations of loans held for sale. During the three months ended September 30, 2025, no loans were sold, as compared to approximately $4.4 million of loans sold with an effective yield of 7.03% during the three months ended September 30, 2024.

Loan-related fees. The increase resulted primarily from an increase of $0.3 million in swap referral fees recognized during the three months ended September 30, 2025, as compared to the three months ended September 30, 2024.

Other income. The increase related primarily to an overall improvement in earnings related to equity investments in venture-backed funds during the three months ended September 30, 2025, as compared to the three months ended September 30, 2024.

41

Nine months ended September 30, 2025 compared to nine months ended September 30, 2024

Table 8 details the components of non-interest income for the