Company: FSBC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001275168-25-000106
Chunk: 154

Company: FIVE STAR BANCORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 154
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 sets forth the maturity of time deposits as of March 31, 2025.

Table 20: Scheduled Maturities of Time Deposits(dollars in thousands)$250,000 or GreaterLess than $250,000TotalUninsured PortionRemaining maturity:Three months or less$254,351 $316,505 $570,856 $248,653 Over three through six months80,518 103,604 184,122 76,268 Over six through twelve months37,956 4,296 42,252 32,956 Over twelve months3,412 744 4,156 1,662 Total$376,237 $425,149 $801,386 $359,539 

50

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 March 31, 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 21 is a summary of our outstanding subordinated notes as of March 31, 2025.

Table 21: 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-month Term SOFR plus 329.0 basis points (7.58% as of March 31, 2025) through maturity

Shareholders’ Equity

Shareholders’ equity totaled $406.5 million at March 31, 2025 and $396.6 million at December 31, 2024. The increase in shareholders’ equity was primarily a result of net income recognized of $13.1 million and a $0.7 million increase in accumulated other comprehensive income, partially offset by $4