Company: FSBC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001275168-25-000038
Chunk: 42

Company: FIVE STAR BANCORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 42
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 a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting in accordance with the standards of the PCAOB. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting in accordance with the standards of the PCAOB. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures to respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Moss Adams LLP

Everett, Washington

February 28, 2025

We have served as the Company’s auditor since 2010.

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FIVE STAR BANCORP AND SUBSIDIARY

 CONSOLIDATED BALANCE SHEETS

December 31, 2024 and 2023

(in thousands, except share amounts)20242023ASSETS  Cash and due from financial institutions$33,882 $26,986 Interest-bearing deposits in banks318,461 294,590 Cash and cash equivalents352,343 321,576 Time deposits in banks4,121 5,858 Securities available-for-sale, at fair value, net of allowance for credit losses of $0 at December 31, 2024 and 2023 (amortized cost of $115,757 and $124,788 at December 31, 2024 and 2023, respectively)98,194 108,083 Securities held-to-maturity, at amortized