Five Star Bancorp(US:FSBC) Newsfilterยท2025-01-27 23:30Core 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]