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

Company: FIVE STAR BANCORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 to calculate the present value of the future expected cash flows assuming an orderly transaction. Valuation adjustments may be made to reflect both the Company’s credit risk and the counterparties’ credit risk in determining the fair value of the derivatives. A similar credit risk adjustment, correlated to the credit standing of the counterparty, is made when collateral posted by the counterparty does not fully cover their liability to the Company. There was no carrying value or fair value for interest rate swaps as of March 31, 2025 and December 31, 2024.Certain financial assets may be measured at fair value on a non-recurring basis. These assets are subject to fair value adjustments that result from the application of the lower of cost or fair value accounting or write-downs of individual assets, such as collateral dependent loans and other real estate owned. As of March 31, 2025 and December 31, 2024, the carrying amount of assets measured at fair value on a non-recurring basis was immaterial to the Company.Disclosures about Fair Value of Financial InstrumentsTable 2.2 is a summary of fair value estimates for financial instruments as of March 31, 2025 and December 31, 2024. The carrying amounts in Table 2.2 are recorded in the consolidated balance sheets under the indicated captions. Further, management has not disclosed the fair value of financial instruments specifically excluded from disclosure requirements, such as BOLI.

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Table 2.2: Fair Value Estimates for Financial InstrumentsMarch 31, 2025December 31, 2024(in thousands)Carrying AmountsFair ValueFair Value HierarchyCarrying AmountsFair ValueFair Value HierarchyFinancial assets:Cash and cash equivalents$452,571 $452,571 Level 1$352,343 $352,343 Level 1Time deposits in banks4,024 4,024 Level 14,121 4,121 Level 1Securities available-for-sale97,111 97,111 Level 298,194 98,194 Level 2Securities held-to-maturity2,585 2,275 Level 32,720 2,353 Level 3Loans held for sale2,669 2,967 Level 23,247 3,597 Level 2Loans held for investment, net of allowance for credit losses3,582,595 3,512,114 Level 33,494,