Five Star Bancorp Announces Quarterly and Annual Results

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$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$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]