Company: FSBC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038796
Chunk: 235

Company: FIVE STAR BANCORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 235
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 was $366.4 million, or approximately 9.41% of total deposits as of that date. At December 31, 2024, our largest single deposit relationship related to brokered deposits and had a balance of $300.0 million, or 8.43% of total deposits as of that date. As our demand deposits fluctuate, we have purchased brokered deposits as needed to supplement liquidity. We do not consider brokered deposits as core deposits, but as another deposit funding source for our loan growth.

Table 24 sets forth the maturity of time deposits as of June 30, 2025.

Table 24: Scheduled Maturities of Time Deposits(dollars in thousands)$250,000 or GreaterLess than $250,000TotalUninsured PortionRemaining maturity:Three months or less$257,555 $228,868 $486,423 $251,635 Over three through six months84,528 152,189 236,717 80,028 Over six through twelve months31,920 12,945 44,865 26,920 Over twelve months3,438 642 4,080 1,688 Total$377,441 $394,644 $772,085 $360,271 

FHLB Advances and Other Borrowings

From time to time, we utilize short-term collateralized FHLB borrowings to maintain adequate liquidity. There were no borrowings outstanding as of June 30, 2025 and December 31, 2024.

In 2022, we issued subordinated notes of $75.0 million. This debt was issued to investors in private placement transactions. See Note 6, Subordinated Notes and Other Borrowings, in the notes to our unaudited consolidated financial statements included in this Quarterly Report on Form 10-Q for additional information regarding these subordinated notes. The proceeds of the notes qualify as Tier 2 capital for the Company under the regulatory capital rules of the federal banking agencies.

Table 25 is a summary of our outstanding subordinated notes as of June 30, 2025.

Table 25: Subordinated Notes Outstanding(dollars in thousands)Issuance DateAmount of NotesPrepayment RightMaturity DateSubordinated notesAugust 2022$75,000August 17, 2027September 1, 2032Fixed at 6.00% through September 1, 2027, then three