Company: FSBC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038796
Chunk: 132

Company: FIVE STAR BANCORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 132
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 30, 2025. There were no amounts outstanding at June 30, 2025 or December 31, 2024.

Note 7: Shareholders’ Equity

(a) EPSBasic EPS is net income divided by the weighted average number of common shares outstanding during the period less average unvested restricted stock awards (“RSAs”). Diluted EPS includes the dilutive effect of additional potential common shares related to unvested RSAs using the treasury stock method. The Company has two forms of outstanding common stock: common stock and unvested RSAs. Holders of unvested RSAs receive non-forfeitable dividends at the same rate as common shareholders and they both share equally in undistributed earnings, and therefore the RSAs are considered participating securities. However, under the two-class method, the difference in EPS is not significant for these participating securities.Table 7.1: EPSThree months endedSix months ended(in thousands, except share count and earnings per common share)June 30, 2025June 30, 2024June 30, 2025June 30, 2024Net income$14,508 $10,782 $27,619 $21,413 Basic weighted average common shares outstanding21,225,831 21,039,798 21,217,900 19,115,333 Add: Dilutive effects of assumed vesting of restricted stock43,434 18,287 43,570 50,207 Total dilutive weighted average common shares outstanding21,269,265 21,058,085 21,261,470 19,165,540 Earnings per common share:Basic EPS$0.68 $0.51 $1.30 $1.12 Diluted EPS$0.68 $0.51 $1.30 $1.12 The Company did not have any anti-dilutive shares at June 30, 2025 or June 30, 2024.(b) DividendsThe board of directors declared on April 17, 2025, and the Company subsequently paid, a cash dividend of $0.20 per share, totaling $4.3 million.

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(c) Stock-Based Incentive ArrangementThe Company’s stock-based compensation consists of RSAs granted under its historical stock-based incentive arrangement (the “Historical Incentive Plan”) and RSAs issued under the Five