Company: FSBC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001275168-25-000106
Chunk: 15

Company: FIVE STAR BANCORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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— 49,200 (10,929)49,200 (10,929)Obligations of states and political subdivisions— — 35,567 (5,559)35,567 (5,559)Collateralized mortgage obligations— — 268 (22)268 (22)Corporate bonds— — 1,901 (99)1,901 (99)Total temporarily impaired securities$2,183 $(14)$90,686 $(16,681)$92,869 $(16,695)December 31, 2024U.S. government agency securities$2,316 $(11)$4,082 $(89)$6,398 $(100)Mortgage-backed securities— — 49,476 (11,833)49,476 (11,833)Obligations of states and political subdivisions— — 35,630 (5,626)35,630 (5,626)Collateralized mortgage obligations— — 279 (26)279 (26)Corporate bonds— — 1,863 (137)1,863 (137)Total temporarily impaired securities$2,316 $(11)$91,330 $(17,711)$93,646 $(17,722)There were 147 available-for-sale securities in unrealized loss positions at both March 31, 2025 and December 31, 2024. As of March 31, 2025, the investment portfolio included 141 investment securities that had been in a continuous loss position for twelve months or more and six investment securities that had been in a loss position for less than twelve months.There was one held-to-maturity security in a continuous unrealized loss position at both March 31, 2025 and December 31, 2024, which at December 31, 2024 had been in a continuous loss position for more than twelve months.Obligations issued or guaranteed by government agencies such as the GNMA and the SBA or GSEs under conservatorship such as the FNMA and the FHLMC, are guaranteed or sponsored by agencies of the U.S. government and have strong credit profiles. The Company therefore expects to receive all contractual interest payments on time and believes the risk of credit losses on these securities is remote.

14

The Company’s investment in obligations of states and political subdivisions is deemed credit worthy