Company: FSBC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050090
Chunk: 55

Company: FIVE STAR BANCORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 55
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 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 periods indicated.

Table 8: Non-interest IncomeFor the nine months ended(dollars in thousands)September 30, 2025September 30, 2024$ Change% ChangeService charges on deposit accounts$596 $542 $54 9.96 %Gain on sale of loans244 1,124 (880)(78.29)%Loan-related fees1,599 1,205 394 32.70 %FHLB stock dividends985 988 (3)(0.30)%Earnings on BOLI590 462 128 27.71 %Other income1,121 466 655 140.56 %Total non-interest income$5,135 $4,787 $348 7.27 %

Gain on sale of loans. The decrease related primarily to an overall decline in the volume of loans sold due to a strategic, intentional reduction in originations of loans held for sale, partially offset by an improvement in the effective yield of loans sold period-over-period. During the nine months ended September 30, 2025, approximately $3.3 million of loans were sold with an effective yield of 7.41%, as compared to approximately $16.4 million of loans sold with an effective yield of 6.87% during the nine months ended September 30, 2024.

Loan-related fees. The increase related primarily to a $0.3 million increase in swap fees and a $0.1 million increase in credit card-related fees.

Earnings on BOLI. The increase related primarily to an increase in BOLI balances between September 30, 2024 and September 30, 2025 due to the addition of a new policy.

Other income. The increase resulted primarily from a $1.0 million improvement in earnings related to equity investments in venture-backed funds, partially offset by a decrease in income received on equity investments in venture-backed funds from a gain of $0.2 million for the nine months ended September