Company: FSBC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001275168-25-000106
Chunk: 159

Company: FIVE STAR BANCORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 159
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 FHLB financing borrowings and a total financing availability of $544.6 million, net of letters of credit issued of $731.5 million.

Federal Reserve Discount Window

The Company has the ability to borrow from the Federal Reserve Discount Window when necessary. At March 31, 2025, the Bank had no outstanding Federal Reserve Discount Window borrowings and a total financing availability of $856.4 million.

Correspondent Bank Lines of Credit

At March 31, 2025, the unused and available amount for borrowing from correspondent bank lines of credit was $175.0 million.

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Total Liquidity

Total liquidity (consisting of cash and cash equivalents and unused and immediately available borrowing capacity as set forth in Table 22) was approximately $2.0 billion as of March 31, 2025.

Table 22: Total LiquidityMarch 31, 2025(dollars in thousands)Line of CreditLetters of Credit IssuedBorrowingsAvailableFHLB advances$1,276,072 $731,500 $— $544,572 Federal Reserve Discount Window856,366 — — 856,366 Correspondent bank lines of credit175,000 — — 175,000 Cash and cash equivalents— — — 452,571 Total$2,307,438 $731,500 $— $2,028,509 

Future Contractual Obligations

Our estimated future contractual obligations as of March 31, 2025 include both current and long-term obligations. Under our operating leases, we have an operating lease liability of $6.6 million. We have a current obligation of $797.2 million and a long-term obligation of $4.2 million related to time deposits, as discussed in Note 5, Interest-Bearing Deposits. We have net subordinated notes of $73.9 million, all of which are long-term obligations. We also have contractual obligations on unfunded loan commitments and standby letters of credit totaling $389.5 million.

Dividends

A use of liquidity for the Company is shareholder dividends. The Company paid dividends to its shareholders totaling $4.3 million during the three months ended March 31, 2025.

We expect to continue our current practice of paying quarterly cash dividends with respect to our common stock, subject to our board of directors’ discretion to modify or terminate this practice at any time and for any reason without prior notice