Company: FSBC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001275168-25-000106
Chunk: 33

Company: FIVE STAR BANCORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 33
---
 have no more than the normal risk of collectability, a substantial decline in the economy in general, or a decline in real estate values in the Company’s primary market areas in particular, could have an adverse impact on the collectability of these loans. Personal and business incomes represent the primary source of repayment for the majority of these loans.Deposit concentrations: At March 31, 2025, the Company had 104 deposit relationships that exceeded $5.0 million each, totaling $2.3 billion, or approximately 60.87% of total deposits. The Company’s largest single deposit relationship at March 31, 2025 totaled $400.0 million, or approximately 10.71% of total deposits. Management maintains the Company’s liquidity position and lines of credit with correspondent banks to mitigate the risk of large withdrawals by this group of large depositors.Contingencies: The Company is subject to legal proceedings and claims which arise in the ordinary course of business. In the opinion of management, the amount of ultimate liability with respect to such actions will not materially adversely affect the consolidated financial position or results of operations of the Company.Correspondent banking agreements: The Company maintains funds on deposit with other FDIC-insured financial institutions under correspondent banking agreements. Uninsured deposits through these agreements totaled approximately $37.8 million and $29.2 million at March 31, 2025 and December 31, 2024, respectively.Equity investments: The Company has committed to and is invested in a limited number of venture funds. As of March 31, 2025 and December 31, 2024, the estimated remaining commitment for these funds totaled $14.6 million and $10.8 million, respectively.Litigation MattersThe Company is subject to legal proceedings and claims which arise in the ordinary course of business. In the opinion of management, the amount of ultimate liability with respect to such actions will not materially adversely affect the consolidated financial position or results of operations of the Company.

26

Note 9: Subsequent Events

On April 17, 2025, the board of directors of the Company declared a cash dividend of $0.20 per common share, which the Company expects to pay on May 12, 2025 to shareholders of record as of May 5, 2025.

27

ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion presents management’s perspective on our results of operations and financial condition on a consolidated basis