Company: FSBC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001275168-25-000038
Chunk: 115

Company: FIVE STAR BANCORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 115
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 approach to banking;

•continue to focus on and grow each of the diverse industry clusters throughout our market areas;

•build upon the strength of our brand to deepen and broaden client relationships and grow our deposit base;

•attract additional banking professionals with track records of driving revenue growth;

•maintain our disciplined credit underwriting and robust risk management;

•enhance our disciplined cost management culture;

•leverage our technology platforms to improve our efficiency; and

•further engage in the economic development of our communities and market areas.

Highlights of the financial results are presented in the following tables:

Table 1: Highlights of Financial Results(dollars in thousands)December 31, 2024December 31, 2023Selected financial condition data:Total assets$4,053,278 $3,593,125 Total loans held for investment3,532,686 3,081,719 Total deposits3,557,994 3,026,896 Total subordinated notes, net73,895 73,749 Total shareholders’ equity396,624 285,774 Asset quality ratios:  Allowance for credit losses to total loans held for investment1.07 %1.12 %Allowance for credit losses to nonperforming loans21.02x17.53xNonperforming loans to total loans held for investment0.05 %0.06 %Capital ratios:  Total capital (to risk-weighted assets)13.99 %12.30 %Tier 1 capital (to risk-weighted assets)11.02 %9.07 %Common equity Tier 1 capital (to risk-weighted assets)11.02 %9.07 %Tier 1 leverage10.05 %8.73 %Total shareholders’ equity to total assets9.79 %7.95 %Tangible shareholders’ equity to tangible assets19.79 %7.95 %

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Table 2: Highlights of Financial Results (continued)(dollars in thousands, except share and per share data)For the year ended December 31, 2024December 31, 2023Selected operating data:  Net interest income$119,711 $110,880 Provision for credit losses6,950 4,000 Non-interest income6,453 7,511 Non-interest expense54,493 47,775 Net income45,671 47,734