Financial Data and Key Metrics Changes - Net income for Q4 2024 was $13.3 million, with a return on average assets of 1.31% and return on average equity of 13.48% [19] - For the year 2024, net income totaled $45.7 million, with a return on average assets of 1.23% and return on average equity of 12.72% [19] - The net interest margin for Q4 2024 was 3.36%, slightly down from 3.37% in the prior quarter, while the annual net interest margin was 3.32%, down from 3.42% in 2023 [21] - Non-interest income increased to $1.7 million in Q4 from $1.4 million in the previous quarter, but decreased to $6.5 million for the year from $7.5 million in 2023 [21] Business Line Data and Key Metrics Changes - Loans held for investment increased by $72.1 million or 2.08% from the prior quarter and $451 million or 14.63% year-over-year [8] - The commercial real estate concentration decreased from 86.76% as of December 31, 2023, to 80.75% as of December 31, 2024, while consumer and other loan concentrations increased from 1.2% to 7.9% year-over-year [9] - Loan originations in Q4 were $263.3 million, with total loan originations for 2024 at $1.1 billion [10] Market Data and Key Metrics Changes - Deposits increased by $158 million or 4.65% in Q4 and by $531.1 million or 17.55% for the year [12] - Non-interest-bearing deposits as a percentage of total deposits decreased to 25.93% at the end of Q4 from 26.67% in the prior quarter [13] - Wholesale deposits increased by $150 million or 36.59% quarter-over-quarter, while non-wholesale deposits increased by $8 million or 0.27% [16] Company Strategy and Development Direction - The company is focused on organic growth and disciplined business practices, targeting an annual growth rate of about 8% for both deposits and loans in 2025 [36][42] - Continued expansion in the San Francisco market is a priority, with plans for further geographic growth in the East Bay [62] - The company aims to maintain a $300 million book with BHG loans, indicating a strategy to remain active in loan purchases [79] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's resilience and long-term strategy, emphasizing a commitment to customer-centric services [24] - The competitive landscape for core deposits remains challenging, with management noting the need for active engagement to attract deposits [35] - Management anticipates slight margin expansion in 2025, driven by investments made in personnel and technology [41][42] Other Important Information - The company maintained a strong asset quality, with non-performing loans at 0.05% of loans held for investment [11] - The allowance for credit losses totaled $37.8 million, with a provision of $1.3 million recorded in Q4 [11] - The company received multiple awards and recognitions in 2024, highlighting its strong performance and community engagement [94] Q&A Session Summary Question: Insights on deposit growth and duration - Management noted that deposit growth was primarily on the wholesale side, with short-term CDs set to reprice every three months, allowing for potential benefits from future rate cuts [28][31] Question: Outlook for organic core deposit generation - Management acknowledged the competitive nature of attracting core deposits but targeted an 8% annual growth rate for 2025 [36] Question: Expense growth expectations for 2025 - Management indicated that expenses in the first half of 2025 would likely align with Q4 2024 levels, with ongoing investments in personnel and technology [83] Question: Trends in loan originations and payoffs - Management highlighted that loan growth is driven by active business development efforts, while payoffs are a natural progression in the commercial real estate portfolio [56][57] Question: Market conditions in the Bay Area - Management expressed optimism about the Bay Area market, noting ongoing expansion efforts and the potential for continued market share gains [62]

Investor Presentation Fourth Quarter and Year End 2024 Safe Harbor Statement and Disclaimer Forward-Looking Statements In this presentation, "we," "our," "us," "Five Star," or "the Company" refers to Five Star Bancorp, a California corporation, and our consolidated subsidiaries, including Five Star Bank, a California state- chartered bank, unless the context indicates that we refer only to the parent company, Five Star Bancorp. This presentation contains forward-looking statements within the meaning of the ...

Core Viewpoint - Five Star Bancorp (FSBC) reported quarterly earnings of $0.63 per share, exceeding the Zacks Consensus Estimate of $0.59 per share, with a year-over-year comparison showing no change in earnings per share [1][2] Financial Performance - The company achieved revenues of $35.16 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 4.32%, compared to $28.61 million in the same quarter last year [2] - Over the last four quarters, Five Star Bancorp has exceeded consensus EPS estimates two times and topped revenue estimates once [2] Stock Performance - Since the beginning of the year, Five Star Bancorp shares have declined by approximately 0.8%, while the S&P 500 has increased by 3.7% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.59 on revenues of $34.7 million, and for the current fiscal year, it is $2.63 on revenues of $148.4 million [7] - The trend of estimate revisions for Five Star Bancorp is mixed, which may change following the recent earnings report [6] Industry Context - The Banks - West industry, to which Five Star Bancorp belongs, is currently ranked in the top 36% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]

Financial Performance - Net income for the three months ended December 31, 2024, was $13.3 million, an increase of 22.1% from $10.9 million for the three months ended September 30, 2024, and a 23.1% increase from $10.8 million for the three months ended December 31, 2023[2][10][11]. - Net income for the year ended December 31, 2024, was $45,671 thousand, a decrease of $2,063 thousand or 4.32% compared to the previous year[14]. - Net income for the three months ended December 31, 2024, was $13.3 million, representing a 21.7% increase from $10.9 million in the previous quarter and a 23.3% increase from $10.8 million year-over-year[57]. - Basic and diluted earnings per share fell to $2.26 in 2024 from $2.78 in 2023, a decrease of 18.7%[59]. Deposits and Loans - Total deposits increased by $158.0 million, or 4.65%, during the three months ended December 31, 2024, with non-wholesale deposits increasing by $8.0 million (0.27%) and wholesale deposits increasing by $150.0 million (36.59%) compared to the previous quarter[7]. - Total deposits increased by $531,098 thousand or 17.55% to $3,557,994 thousand as of December 31, 2024[15]. - Loans held for investment increased by $72.1 million (2.08%) from September 30, 2024, and by $450.97 million (14.63%) from December 31, 2023, reaching $3.53 billion[12]. - Total loans held for investment rose by $450,967 thousand or 14.63% to $3,532,686 thousand as of December 31, 2024[15]. - Average loans held for investment and sale increased to $3,498,109,000 in 2024 from $3,055,042,000 in 2023, a growth of 14.5%[61]. Interest Income and Margin - The Company's net interest margin for the three months ended December 31, 2024, was 3.36%, slightly down from 3.37% in the previous quarter but up from 3.19% in the same quarter of the previous year[7]. - Net interest income for the three months ended December 31, 2024, was $33,489 thousand, an increase of $3,103 thousand or 10.21% from the previous quarter[13]. - Net interest income for the three months ended December 31, 2024, increased by $3.1 million, or 10.21%, to $33.5 million compared to $30.4 million for the prior quarter[23]. - Interest and fee income increased to $206,951,000 in 2024 from $174,382,000 in 2023, representing a growth of 18.7%[59]. - Net interest income after provision for credit losses rose to $112,761,000 in 2024, compared to $106,880,000 in 2023, an increase of 5.3%[59]. Credit Losses and Allowance - The provision for credit losses decreased by $1.5 million during the three months ended December 31, 2024, reflecting adjustments based on economic trends[10]. - Provision for credit losses decreased by $1,450 thousand or 52.73% from the previous quarter, totaling $1,300 thousand for the three months ended December 31, 2024[13]. - The allowance for credit losses increased to $37.8 million from $34.4 million year-over-year, driven by a $7.5 million provision for credit losses[29]. - The total allowance for credit losses increased to $37,791,000 at December 31, 2024, compared to $34,431,000 at December 31, 2023, reflecting a ratio of 1.07% to loans held for investment[31]. Non-Interest Income and Expenses - Non-interest income for the three months ended December 31, 2024, was $1,666,000, a 20.64% increase from $1,381,000 in the previous quarter[32]. - Total non-interest expense for the three months ended December 31, 2024, was $14,488,000, a 5.17% increase from $13,776,000 in the previous quarter[41]. - Total non-interest expense increased to $54,493,000 in 2024 from $47,775,000 in 2023, reflecting a rise of 14.4%[59]. - Salaries and employee benefits increased to $31,709,000 for the year ended December 31, 2024, up 17.02% from $27,097,000 in 2023[45]. Capital and Ratios - The common equity Tier 1 capital ratio was 11.02% as of December 31, 2024, indicating the Company continues to meet "well-capitalized" regulatory requirements[7]. - The total capital ratio was 13.99% for 2024, slightly up from 13.94% in 2023[61]. - The return on average assets (ROAA) improved to 1.31%, up from 1.18% in the previous quarter and 1.26% year-over-year[58]. - The return on average assets (ROAA) decreased to 1.23% in 2024 from 1.44% in 2023[60]. Future Plans and Events - The company plans to host a live webcast on January 28, 2025, to discuss its fourth quarter and annual financial results[52]. - The company plans to expand into the San Francisco Bay Area, contributing to increased salaries and employee benefits[43].

Core Points - Five Star Bancorp reported a net income of $13.3 million for Q4 2024, an increase from $10.9 million in Q3 2024 and $10.8 million in Q4 2023 [1][9][10] - For the year ended December 31, 2024, net income was $45.7 million, down from $47.7 million in 2023 [1][11] - The company experienced growth in loans and deposits, with total loans held for investment increasing by 14.63% year-over-year [16][19] Financial Performance - Return on average assets (ROAA) for Q4 2024 was 1.31%, up from 1.18% in Q3 2024 and 1.26% in Q4 2023 [2][15] - Return on average equity (ROAE) for Q4 2024 was 13.48%, compared to 11.31% in Q3 2024 and 15.45% in Q4 2023 [2][15] - Net interest income for Q4 2024 increased by 10.21% to $33.5 million compared to Q3 2024 [12][21] - The efficiency ratio improved to 41.21% in Q4 2024 from 43.37% in Q3 2024 [7][15] Loan and Deposit Growth - Total deposits increased by $158.0 million, or 4.65%, in Q4 2024, with non-wholesale deposits rising by 0.27% and wholesale deposits increasing by 36.59% [6][7] - The San Francisco Bay Area team contributed $229.5 million in deposits from June 5, 2023, to December 31, 2024 [3][6] - Total loans held for investment reached $3.53 billion as of December 31, 2024, up from $3.08 billion a year earlier [16][19] Recognition and Awards - Five Star Bank received multiple accolades in 2024, including a Super Premier rating from Findley Reports and a 5-star rating from Bauer Financial [4][5] - The company was recognized as one of S&P Global Market Intelligence's Top 20 Best-Performing Community Banks in the nation [4] Balance Sheet Highlights - Total assets increased by 12.81% to $4.05 billion as of December 31, 2024, compared to $3.59 billion a year earlier [16] - Total liabilities rose by 10.56% to $3.66 billion, primarily due to a $531.1 million increase in deposits [17][19] - Total shareholders' equity increased by 38.79% to $396.6 million, driven by net income and additional common stock issued [20]

Core Points - Five Star Bancorp's President and CEO, James Beckwith, has been elected to the California Chamber of Commerce Board of Directors for a three-year term starting January 1, 2025 [1][2][3] - The CalChamber aims to advocate for policies that strengthen California's economy and support job creation [2][3] - Beckwith's involvement is expected to enhance the business perspective in discussions on laws and regulations affecting the job climate in California [4] Company Overview - Five Star Bancorp is a bank holding company based in Rancho Cordova, California, operating through its wholly owned subsidiary, Five Star Bank, which has eight branches in Northern California [5]

Core Points - Five Star Bancorp's President and CEO, James Beckwith, has been elected to the California Chamber of Commerce (CalChamber) Board of Directors for a three-year term starting January 1, 2025 [1][4] - CalChamber is the largest advocate for business interests in California, working at both state and federal levels to promote policies that strengthen the economy [3] - Beckwith's election is expected to enhance CalChamber's efforts to improve the California economy and support job creation [2][3] Company Overview - Five Star Bancorp is a bank holding company based in Rancho Cordova, California, operating through its wholly owned subsidiary, Five Star Bank, which has eight branches in Northern California [5] - The company aims to engage in discussions on business-friendly policies that influence laws and regulations affecting the job market [4]

Core Viewpoint - Five Star Bancorp has declared a cash dividend of $0.20 per share on its voting common stock, which will be paid on February 10, 2025, to shareholders of record as of February 3, 2025 [1] Company Overview - Five Star Bancorp is a bank holding company headquartered in Rancho Cordova, California, operating through its wholly owned banking subsidiary, Five Star Bank [2] - Five Star Bank has eight branches located in Northern California [2]

Core Points - Five Star Bancorp is set to report its financial results for the quarter and year ended December 31, 2024, on January 27, 2025, after market close [1] - A live webcast for analysts and investors will take place on January 28, 2025, at 1:00 PM ET to discuss the financial results [2] - Five Star Bancorp is headquartered in Rancho Cordova, California, and operates through its wholly owned banking subsidiary, Five Star Bank, which has eight branches in Northern California [3]

RANCHO CORDOVA, Calif., Jan. 14, 2025 (GLOBE NEWSWIRE) -- Five Star Bancorp (NASDAQ:FSBC) ("Five Star" or the "Company"), a holding company that operates through its wholly owned banking subsidiary, Five Star Bank (the "Bank"), expects to report its financial results for the quarter and year ended December 31, 2024, after the stock market closes on Monday, January 27, 2025. Management will host a live webcast for analysts and investors to review this information at 1:00 PM ET (10:00 AM PT) on January 28, 20 ...