FIVE STAR BANCORP Stock Price, News & Analysis

Five Star Bancorp (Nasdaq: FSBC) reported a net income of $13.2 million for Q1 2023, slightly below the $13.3 million in Q4 2022 but up from $9.9 million in Q1 2022. Key metrics included a return on average assets (ROAA) of 1.65% and return on average equity (ROAE) of 20.94%. The bank experienced a 4.97% increase in total deposits, amounting to $2.92 billion, and a 2.81% rise in loans held for investment to $2.87 billion. The net interest margin decreased to 3.75% from 3.83% in the previous quarter. The board declared an increased dividend of $0.20 per share. The adoption of ASC 326 resulted in a $4.5 million reduction in retained earnings due to higher credit loss allowances. The bank maintained its well-capitalized status with a CET1 capital ratio of 9.02%.

Five Star Bancorp (Nasdaq: FSBC) has declared a cash dividend of $0.20 per share on its voting common stock. The dividend will be paid on May 15, 2023, to shareholders of record as of May 8, 2023. This decision underscores the Company's commitment to delivering returns to its shareholders.

Headquartered in Rancho Cordova, California, Five Star operates through its wholly owned subsidiary, Five Star Bank, which has seven branches and one loan production office in Northern California. Investors are encouraged to stay informed, as the Company may issue forward-looking statements that reflect its business outlook and operational expectations.

Five Star Bancorp (Nasdaq: FSBC) will disclose its financial results for Q1 2023 on April 24, 2023, post-market closure. Management will conduct a live webcast for investors and analysts on April 25, 2023, at 1:00 PM ET to discuss these results. The webcast will be available on the company’s website, with an archive accessible for 90 days. Five Star Bancorp, headquartered in Rancho Cordova, California, operates through its wholly owned banking subsidiary, Five Star Bank, which has seven branches and one loan production office in Northern California. This update indicates the upcoming reporting period, giving investors a chance to review the latest performance indicators.

Five Star Bancorp (Nasdaq: FSBC) announces leadership changes effective May 18, 2023. Robert T. Perry-Smith will take over as Chairperson of the Board, succeeding David Lucchetti, who retires after four years. In recent rankings, Five Star Bank achieved the top position among community banks with $3 billion to $10 billion in assets, outperforming 196 banks in key metrics. The bank holds a Bauer Financial Superior Rating and an IDC Superior Rating. Perry-Smith, with extensive banking industry experience, plans to address the evolving needs of clients and shareholders while ensuring continued growth and community commitment.

Five Star Bancorp (Nasdaq: FSBC) has achieved the #1 ranking on the S&P Global Market Intelligence annual list of best-performing community banks for 2022, specifically for those with assets between $3 billion and $10 billion. The company also received a Bauer Financial Superior Rating of 5 stars and an IDC Superior Rating of 300 out of 300. Furthermore, Five Star is recognized as a Super Premier Performing Bank by The Findley Reports. CEO James Beckwith expressed pride in this accolade, emphasizing its significance amidst the current volatility in the banking sector.