Company: FSBC
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001275168-25-000056
Chunk: 52

Company: FIVE STAR BANCORP
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 52
---
 These transactions include deposits, loans, and other financial services-related transactions. Related party transactions are made in the ordinary course of business, on substantially the same terms, including interest rates and collateral (where applicable), as those prevailing at the time for comparable transactions with persons not related to us, and do not involve more than the normal risk of collectability or present other features unfavorable to us.

As of December 31, 2024, we had approximately $14.5 million of loans outstanding to directors, executive officers, and principal shareholders of the Bank and the Company and their immediate family members and affiliates, and we had $0.7 million of unfunded loan commitments to these persons. Of the loans outstanding, no amount was cash secured or 100% guaranteed by the Small Business Administration. As of December 31, 2024, no related party loans were categorized as nonaccrual, past due, restructured, or potential problem loans.

We expect to continue to enter into transactions in the ordinary course of business on similar terms with our directors, executive officers, and principal shareholders, as well as their immediate family members and affiliates.

2024 Underwritten Public Offering

On March 28, 2024, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Keefe, Bruyette & Woods, Inc., as representative of the several underwriters named in Schedule I thereto (collectively, the “Underwriters”), to issue and sell 3,450,000 shares of common stock, plus up to an additional 517,500 shares pursuant to a 30-day option to purchase additional shares granted to the Underwriters by the Company, in an underwritten public offering at a public offering price of $21.75 per share (the “2024 Public Offering”). On April 2, 2024, the Company closed the 2024 Public Offering and issued 3,450,000 shares of its common stock.

The following table summarizes purchases by certain of our related parties of shares of common stock in the 2024 Public Offering at the public offering price and on the same terms as all other investors participating in the 2024 Public Offering.

| Name                                         |     | Number of Shares |         |     | Aggregate Purchase Price |           |
|:---------------------------------------------|:----|:-----------------|--------:|:----|:-------------------------|----------:|
| Larry E. Allbaugh and affiliated entities(1) |     |                  | 137,931 |