Five Star Bancorp (NASDAQ: FSBC) Q1 2026 profit, margin and loan growth rise

Rhea-AI Filing Summary

Five Star Bancorp reported stronger first quarter 2026 results, with net income of $18.6 million and earnings per share of $0.87. Net income rose from $17.6 million in the prior quarter and $13.1 million a year earlier, while EPS increased from $0.83 and $0.62 over the same periods.

Profitability was solid, with ROAA at 1.55% and ROAE at 16.73%. Net interest income grew to $43.5 million and net interest margin improved to 3.70%, helped by loan growth and a lower total cost of funds of 2.20%. The efficiency ratio improved to 38.57%, indicating tight expense control.

Total loans held for investment reached $4.21 billion and deposits were $4.47 billion as of March 31, 2026, up 6.39% since year-end, with non-interest-bearing deposits comprising 27.58% of the total. Asset quality remained strong, with nonperforming loans at 0.07% of loans and an allowance for credit losses of 1.10%. The company declared cash dividends of $0.25 per share for both the fourth quarter of 2025 and the first quarter of 2026.

Positive

• Strong earnings growth: Q1 2026 net income rose to $18.6 million, up 42.03% year-over-year and 5.54% sequentially, with EPS increasing to $0.87.
• Improving profitability metrics: Net interest margin expanded to 3.70%, total cost of funds fell to 2.20%, and the efficiency ratio improved to 38.57%.
• Healthy balance sheet growth and mix: Loans held for investment reached $4.21 billion and deposits $4.47 billion, with non-interest-bearing deposits comprising 27.58% of total deposits.
• Solid asset quality and capital: Nonperforming loans were just 0.07% of loans, the allowance for credit losses was 1.10%, and the common equity Tier 1 capital ratio stood at 10.45%.

Negative

• None.

Insights

Bank equity analyst

Five Star delivered robust Q1 2026 growth with strong credit quality and funding.

Five Star Bancorp grew net income to $18.6 million, up 42.03% year-over-year, with EPS at $0.87. Net interest income rose 27.90% year-over-year to $43.5 million as average loans expanded and loan yields improved, while net interest margin increased to 3.70%.

Funding and profitability metrics were favorable. Deposits climbed 6.39% since December 31, 2025 to $4.47 billion, with non-interest-bearing deposits at 27.58% of the mix and total cost of funds down to 2.20%. The efficiency ratio improved to 38.57%, showing disciplined expense management despite higher headcount.

Credit quality remained strong, with nonperforming loans at only 0.07% of loans and an allowance for credit losses at 1.10%. Capital ratios, including a common equity Tier 1 ratio of 10.45%, stayed above well-capitalized levels, while quarterly dividends of $0.25 per share continued returning capital to shareholders.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Net income: $18.6M Earnings per share: $0.87 Net interest income: $43.5M +5 more

8 metrics

Net income $18.6M Three months ended March 31, 2026

Earnings per share $0.87 Basic and diluted EPS, Q1 2026

Net interest income $43.5M Quarter ended March 31, 2026

Net interest margin 3.70% Quarter ended March 31, 2026

Total loans held for investment $4.21B Balance at March 31, 2026

Total deposits $4.47B Balance at March 31, 2026; up 6.39% from December 31, 2025

Nonperforming loans ratio 0.07% Nonperforming loans to loans held for investment at March 31, 2026

Common equity Tier 1 ratio 10.45% Regulatory capital ratio as of March 31, 2026

Key Terms

Net interest margin, Efficiency ratio, Allowance for credit losses, Common equity Tier 1 capital ratio, +2 more

6 terms

Net interest margin financial

"For the three months ended March 31, 2026, net interest margin was 3.70%."

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

Efficiency ratio financial

"Consistent, disciplined management of expenses contributed to our efficiency ratio of 38.57%."

A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.

Allowance for credit losses financial

"At March 31, 2026, the Company’s allowance for credit losses was $46.4 million."

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

Common equity Tier 1 capital ratio financial

"The Company’s common equity Tier 1 capital ratio was 10.45% as of March 31, 2026."

A bank’s common equity tier 1 (CET1) capital ratio measures the size of its strongest loss-absorbing capital—mainly common shares and retained earnings—relative to the bank’s assets after adjusting those assets for how risky they are (riskier loans count more). Think of it as the safety cushion compared with the weight of risky business; investors use it to judge a bank’s ability to survive losses, meet rules, and sustain dividends or growth.

Nonperforming loans financial

"The ratio of nonperforming loans to loans held for investment at period end decreased from 0.08% to 0.07%."

Nonperforming loans are loans on which borrowers have stopped making the scheduled interest or principal payments for an extended period (commonly 90 days or more) or are otherwise in serious danger of default. Think of them as IOUs that aren’t being repaid: they tie up a lender’s money, reduce future interest income, and force the lender to hold extra reserves or take losses. For investors, a rising share of nonperforming loans signals weakening credit quality, higher potential losses, and greater risk to a bank’s profitability and capital.

Total cost of funds financial

"Total cost of funds reflects the average cost of all funding sources, including both interest-bearing and non-interest-bearing deposits and borrowings."

Offering Details

earnings

Offering

Offering Type earnings

Understanding 8-K Material Events →

0001275168FALSE00012751682026-04-272026-04-27

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549 

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): April 27, 2026

FIVE STAR BANCORP

(Exact Name of Registrant as Specified in Charter) 

California

001-40379

75-3100966

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

3100 Zinfandel Drive, Suite 100, Rancho Cordova, California, 95670

(Address of Principal Executive Offices, and Zip Code)

(916) 626-5000

Registrant’s Telephone Number, Including Area Code

Not Applicable

(Former Name or Former Address, if Changed Since Last Report) 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Stock, no par value per share			FSBC			The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☑

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02    Results of Operations and Financial Condition

On April 27, 2026, Five Star Bancorp (the “Company”) issued a press release announcing its results of operations and financial condition for the quarter ended March 31, 2026. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

This information (including Exhibit 99.1) is being furnished under Item 2.02 hereof and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 7.01    Regulation FD Disclosure

The Company is conducting an earnings call on April 28, 2026 at 10:00 AM PT/1:00 PM ET to discuss its first quarter 2026 financial results. A copy of the investor presentation to be used during the earnings call is attached to this Current Report on Form 8-K as Exhibit 99.2 and is incorporated herein by reference.

This information (including Exhibit 99.2) is being furnished under Item 7.01 hereof and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference into any filing under the Securities Act, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01    Financial Statements and Exhibits

(d) Exhibits

Number									Description
99.1									Press Release dated April 27, 2026
99.2									First Quarter 2026 Investor Presentation, dated April 28, 2026
104									Cover Page Interactive Data File (embedded within the Inline XBRL)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			FIVE STAR BANCORP
			By:			/s/ Heather C. Luck
						Name: Heather C. Luck
						Title: Executive Vice President and Chief Financial Officer
Date: April 28, 2026

PRESS RELEASE FOR IMMEDIATE RELEASE

Five Star Bancorp Announces First Quarter 2026 Results

RANCHO CORDOVA, CA April 27, 2026 (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”), today reported net income of $18.6 million for the three months ended March 31, 2026, as compared to $17.6 million for the three months ended December 31, 2025 and $13.1 million for the three months ended March 31, 2025.

First Quarter Highlights

Performance and operating highlights for the Company for the periods noted below included the following:

			Three months ended
(in thousands, except per share and share data)			March 31, 2026						December 31, 2025						March 31, 2025
Return on average assets (“ROAA”)			1.55		%				1.50		%				1.30		%
Return on average equity (“ROAE”)			16.73		%				15.97		%				13.28		%
Pre-tax income			$	25,031					$	23,008					$	18,391
Pre-tax, pre-provision income(1)			$	27,706					$	25,808					$	20,291
Net income			$	18,621					$	17,643					$	13,111
Basic earnings per common share			$	0.87					$	0.83					$	0.62
Diluted earnings per common share			$	0.87					$	0.83					$	0.62
Weighted average basic common shares outstanding			21,253,085						21,231,563						21,209,881
Weighted average diluted common shares outstanding			21,313,078						21,289,056						21,253,588
Shares outstanding at end of period			21,376,153						21,367,387						21,329,235

(1) See the section entitled “Non-GAAP Reconciliation (Unaudited)” for a reconciliation of this non-GAAP financial measure.

James E. Beckwith, President and Chief Executive Officer, commented:

“The strength of Five Star Bank’s first quarter 2026 financial results is emblematic of seized market opportunities fueled by the continued demand for our differentiated customer experience. In the first quarter of 2026, we successfully executed on our strategic plan and declared a cash dividend of $0.25 per share to shareholders (an increase of $0.05 per share from dividends declared in each quarter of 2025). Earnings per share increased to $0.87 per share, up $0.04 from the fourth quarter of 2025 and $0.25 from the first quarter of 2025. Net income increased to $18.6 million, up from $17.6 million for the fourth quarter of 2025, while total cost of funds decreased 10 basis points to 2.20% during the first quarter of 2026, and net interest margin increased by four basis points to 3.70%. We are pleased that over the first quarter, total loans held for investment increased by $138.5 million, or 3% (14% when annualized) while total deposits increased by $268.3 million, or 6% (26% when annualized). As we execute on the expansion of industry verticals and our presence in new geographies to meet customer demand, we expect the ongoing acceleration of our growth to benefit our customers, employees, and shareholders.”

Financial highlights as of and during the three months ended March 31, 2026 included the following:

•Total deposits increased by $268.3 million, or 6.39%, during the three months ended March 31, 2026, with increases in non-wholesale deposits exceeding decreases in wholesale deposits. The Company defines wholesale deposits as brokered deposits and California Time Deposit Program deposits. During the three months ended March 31, 2026, non-wholesale deposits increased by $350.2 million, or 9.37%, and wholesale deposits decreased by $81.9 million, or 17.62%.

1

•The number of Business Development Officers increased from 42 at December 31, 2025 to 43 at March 31, 2026.

•Cash and cash equivalents were $644.4 million, representing 14.42% of total deposits at March 31, 2026, as compared to 12.06% at December 31, 2025.

•Consistent, disciplined management of expenses contributed to our efficiency ratio of 38.57% for the three months ended March 31, 2026, as compared to 40.62% for the three months ended December 31, 2025 and 42.58% for the three months ended March 31, 2025.

•For the three months ended March 31, 2026, net interest margin was 3.70%, as compared to 3.66% for the three months ended December 31, 2025 and 3.45% for the three months ended March 31, 2025. The improvement in net interest margin from the three months ended March 31, 2025 occurred during a period of declining effective federal funds rates. Specifically, the effective federal funds rate was 4.33% as of March 31, 2025 and declined over the subsequent quarters to 3.64% by December 31, 2025. The effective federal funds rate remained constant at 3.64% through March 31, 2026.

•Other comprehensive loss was $1.0 million during the three months ended March 31, 2026. Unrealized losses, net of tax effect, on available-for-sale securities were $10.1 million as of March 31, 2026. Total carrying value of held-to-maturity and available-for-sale securities represented 0.04% and 1.87% of total interest-earning assets, respectively, as of March 31, 2026.

•The Company’s common equity Tier 1 capital ratio was 10.45% and 10.58% as of March 31, 2026 and December 31, 2025, respectively. The Bank continues to meet all requirements to be considered “well-capitalized” under applicable regulatory guidelines.

•Loan and deposit growth in the three and twelve months ended March 31, 2026 was as follows:

(in thousands)			March 31, 2026						December 31, 2025						$ Change						% Change
Loans held for investment			$	4,213,393					$	4,074,929					$	138,464					3.40		%
Non-interest-bearing deposits			1,232,696						1,084,537						148,159						13.66		%
Interest-bearing deposits			3,236,657						3,116,547						120,110						3.85		%
(in thousands)			March 31, 2026						March 31, 2025						$ Change						% Change
Loans held for investment			$	4,213,393					$	3,621,819					$	591,574					16.33		%
Non-interest-bearing deposits			1,232,696						933,652						299,044						32.03		%
Interest-bearing deposits			3,236,657						2,802,702						433,955						15.48		%

•The ratio of nonperforming loans to loans held for investment at period end decreased from 0.08% at December 31, 2025 to 0.07% at March 31, 2026.

•The Company’s Board of Directors declared, and the Company subsequently paid, a cash dividend of $0.25 per share during the three months ended March 31, 2026. The Company’s Board of Directors declared an additional cash dividend of $0.25 per share on April 16, 2026, which the Company expects to pay on May 11, 2026 to shareholders of record as of May 4, 2026.

2

Summary Results

Three months ended March 31, 2026, as compared to three months ended December 31, 2025

The Company’s net income was $18.6 million for the three months ended March 31, 2026, as compared to $17.6 million for the three months ended December 31, 2025. Net interest income increased by $1.4 million during the three months ended March 31, 2026, as compared to the three months ended December 31, 2025, primarily due to an increase in interest income driven by loan growth, augmented by a decrease in interest expense driven by a decline in the average cost of deposits. The provision for credit losses decreased by $0.1 million during the three months ended March 31, 2026, as compared to the three months ended December 31, 2025, primarily due to a slight improvement in estimated loss rates. Non-interest income increased by $0.2 million, primarily due to an increase in fees from swap referrals and a special FHLB stock dividend, partially offset by an overall decline in earnings related to investments in venture-backed funds during the three months ended March 31, 2026, as compared to the three months ended December 31, 2025. Non-interest expense decreased by $0.3 million during the three months ended March 31, 2026, as compared to the three months ended December 31, 2025, primarily due to the release of a loss contingency on a U.S. Small Business Administration (“SBA”) loan that did not occur during the three months ended December 31, 2025, partially offset by increased salaries and employee benefits due to increased headcount during the three months ended March 31, 2026.

Three months ended March 31, 2026, as compared to three months ended March 31, 2025

The Company’s net income was $18.6 million for the three months ended March 31, 2026, as compared to $13.1 million for the three months ended March 31, 2025. Net interest income increased by $9.5 million during the three months ended March 31, 2026, as compared to the three months ended March 31, 2025, primarily due to an increase in interest income driven by loan growth and an improvement in the average yield on loans, partially offset by an increase in interest expense driven by deposit growth. The provision for credit losses increased by $0.8 million, reflecting increases in loan growth and an overall increase in loss rates in the three months ended March 31, 2026 compared to the three months ended March 31, 2025. Non-interest income increased by $0.3 million, primarily due to an increase in fees from swap referrals and a special FHLB stock dividend, partially offset by an overall decline in earnings related to investments in venture-backed funds during the three months ended March 31, 2026, as compared to the three months ended March 31, 2025. Non-interest expense increased by $2.3 million during the three months ended March 31, 2026, as compared to the three months ended March 31, 2025, primarily due to increased salaries and employee benefits due to increased headcount.

The following is a summary of the components of the Company’s operating results and performance ratios for the periods indicated:

						Three months ended
(in thousands, except per share data)						March 31, 2026						December 31, 2025						$ Change						% Change
Selected operating data:
Net interest income						$	43,457					$	42,065					$	1,392					3.31		%
Provision for credit losses						2,675						2,800						(125)						(4.46)		%
Non-interest income						1,643						1,400						243						17.36		%
Non-interest expense						17,394						17,657						(263)						(1.49)		%
Pre-tax income						25,031						23,008						2,023						8.79		%
Provision for income taxes						6,410						5,365						1,045						19.48		%
Net income						$	18,621					$	17,643					$	978					5.54		%
Earnings per common share:
Basic						$	0.87					$	0.83					$	0.04					4.82		%
Diluted						$	0.87					$	0.83					$	0.04					4.82		%
Performance and other financial ratios:
ROAA						1.55		%				1.50		%
ROAE						16.73		%				15.97		%
Net interest margin						3.70		%				3.66		%
Total cost of funds(1)						2.20		%				2.30		%
Efficiency ratio						38.57		%				40.62		%

3

						Three months ended
(in thousands, except per share data)						March 31, 2026						March 31, 2025						$ Change						% Change
Selected operating data:
Net interest income						$	43,457					$	33,977					$	9,480					27.90		%
Provision for credit losses						2,675						1,900						775						40.79		%
Non-interest income						1,643						1,359						284						20.90		%
Non-interest expense						17,394						15,045						2,349						15.61		%
Pre-tax income						25,031						18,391						6,640						36.10		%
Provision for income taxes						6,410						5,280						1,130						21.40		%
Net income						$	18,621					$	13,111					$	5,510					42.03		%
Earnings per common share:
Basic						$	0.87					$	0.62					$	0.25					40.32		%
Diluted						$	0.87					$	0.62					$	0.25					40.32		%
Performance and other financial ratios:
ROAA						1.55		%				1.30		%
ROAE						16.73		%				13.28		%
Net interest margin						3.70		%				3.45		%
Total cost of funds(1)						2.20		%				2.56		%
Efficiency ratio						38.57		%				42.58		%

(1) Total cost of funds reflects the average cost of all funding sources, including both interest-bearing and non-interest-bearing deposits and borrowings.

Balance Sheet Summary

(in thousands)						March 31, 2026						December 31, 2025						$ Change						% Change
Selected financial condition data:
Total assets						$	5,031,751					$	4,754,861					$	276,890					5.82		%
Cash and cash equivalents						644,359						506,851						137,508						27.13		%
Total loans held for investment						4,213,393						4,074,929						138,464						3.40		%
Total investments						93,850						96,889						(3,039)						(3.14)		%
Total liabilities						4,573,232						4,309,029						264,203						6.13		%
Total deposits						4,469,353						4,201,084						268,269						6.39		%
Subordinated notes, net						74,077						74,041						36						0.05		%
Total shareholders’ equity						458,519						445,832						12,687						2.85		%

•Insured and collateralized deposits were approximately $2.9 billion, representing 65.55% of total deposits as of March 31, 2026, as compared to 66.20% as of December 31, 2025. Net uninsured and uncollateralized deposits were approximately $1.5 billion as of March 31, 2026, increasing from $1.4 billion at December 31, 2025.

•Non-wholesale deposit accounts constituted 91.43% of total deposits as of March 31, 2026, as compared to 88.93% at December 31, 2025. Deposit relationships of greater than $5 million represented 60.67% of total deposits as of March 31, 2026, as compared to 60.90% as of December 31, 2025, and had an average age of approximately 7.98 years as of March 31, 2026, as compared to 7.67 years as of December 31, 2025.

•Total deposits as of March 31, 2026 were $4.5 billion, an increase of $268.3 million, or 6.39%, from December 31, 2025, comprised of increases in both interest-bearing and non-interest-bearing deposits.

4

•Cash and cash equivalents as of March 31, 2026 were $644.4 million, representing 14.42% of total deposits at March 31, 2026, as compared to 12.06% as of December 31, 2025.

•Total liquidity (consisting of cash and cash equivalents as well as unused and immediately available borrowing capacity as set forth below) was approximately $2.2 billion as of March 31, 2026, as compared to $2.3 billion at December 31, 2025.

						March 31, 2026
(in thousands)						Line of Credit						Letters of Credit Issued						Borrowings						Available
Federal Home Loan Bank of San Francisco (“FHLB”) advances						$	1,425,706					$	1,112,500					$	—					$	313,206
Federal Reserve Discount Window						1,016,633						—						—						1,016,633
Correspondent bank lines of credit						185,000						—						—						185,000
Cash and cash equivalents						—						—						—						644,359
Total						$	2,627,339					$	1,112,500					$	—					$	2,159,198

The increase in total assets from December 31, 2025 to March 31, 2026 was primarily comprised of a $138.5 million increase in total loans held for investment and a $137.5 million increase in cash and cash equivalents. The $138.5 million increase in total loans held for investment between December 31, 2025 and March 31, 2026 was a result of $389.0 million in loan originations and advances, partially offset by $67.9 million and $182.6 million in loan payoffs and paydowns, respectively. The $137.5 million increase in cash and cash equivalents primarily resulted from the net increase in cash inflows from growth in total deposits of $268.3 million and cash outflows from growth in total loans held for investment of $138.5 million.

The increase in total liabilities from December 31, 2025 to March 31, 2026 was primarily due to an increase in deposits of $268.3 million. The increase in deposits was largely due to increases in money market and non-interest-bearing deposits of $212.6 million and $148.2 million, respectively, partially offset by a $100.3 million decrease in time deposits, mainly attributed to an $81.9 million decline in wholesale deposits.

The increase in total shareholders’ equity from December 31, 2025 to March 31, 2026 was primarily a result of $18.6 million recognized as net income, partially offset by $5.3 million in cash dividends paid during the period and a $1.0 million increase in accumulated other comprehensive loss.

Net Interest Income and Net Interest Margin

The following is a summary of the components of net interest income for the periods indicated:

						Three months ended
(in thousands)						March 31, 2026						December 31, 2025						$ Change						% Change
Interest and fee income						$	67,347					$	66,421					$	926					1.39		%
Interest expense						23,890						24,356						(466)						(1.91)		%
Net interest income						$	43,457					$	42,065					$	1,392					3.31		%
Net interest margin						3.70		%				3.66		%
						Three months ended
(in thousands)						March 31, 2026						March 31, 2025						$ Change						% Change
Interest and fee income						$	67,347					$	57,087					$	10,260					17.97		%
Interest expense						23,890						23,110						780						3.38		%
Net interest income						$	43,457					$	33,977					$	9,480					27.90		%
Net interest margin						3.70		%				3.45		%

5

The following table shows the components of net interest income and net interest margin for the quarterly periods indicated:

						Three months ended
						March 31, 2026																		December 31, 2025																		March 31, 2025
(in thousands)						Average Balance						Interest Income/ Expense						Yield/ Rate						Average Balance						Interest Income/ Expense						Yield/ Rate						Average Balance						Interest Income/ Expense						Yield/ Rate
Assets
Interest-earning deposits in banks						$	512,308					$	4,687					3.71		%				$	487,339					$	4,850					3.95		%				$	328,571					$	3,575					4.41		%
Investment securities						96,787						544						2.28		%				97,848						561						2.27		%				100,474						581						2.34		%
Loans held for investment and sale						4,150,446						62,116						6.07		%				3,972,184						61,010						6.09		%				3,567,992						52,931						6.02		%
Total interest-earning assets						4,759,541						67,347						5.74		%				4,557,371						66,421						5.78		%				3,997,037						57,087						5.79		%
Interest receivable and other assets, net						118,967																		117,496																		93,543
Total assets						$	4,878,508																	$	4,674,867																	$	4,090,580
Liabilities and shareholders’ equity
Interest-bearing transaction accounts						$	343,663					$	1,133					1.34		%				$	339,774					$	1,180					1.38		%				$	303,822					$	1,112					1.48		%
Savings accounts						138,125						830						2.44		%				143,818						895						2.47		%				123,599						772						2.53		%
Money market accounts						2,185,347						15,851						2.94		%				1,999,734						15,271						3.03		%				1,540,879						12,435						3.27		%
Time accounts						531,031						4,915						3.75		%				574,718						5,848						4.04		%				706,528						7,629						4.38		%
Subordinated notes and other borrowings						74,072						1,161						6.36		%				74,036						1,162						6.22		%				73,908						1,162						6.37		%
Total interest-bearing liabilities						3,272,238						23,890						2.96		%				3,132,080						24,356						3.09		%				2,748,736						23,110						3.41		%
Demand accounts						1,122,062																		1,067,215																		910,954
Interest payable and other liabilities						32,739																		37,287																		30,389
Shareholders’ equity						451,469																		438,285																		400,501
Total liabilities & shareholders’ equity						$	4,878,508																	$	4,674,867																	$	4,090,580
Net interest spread																		2.78		%																2.69		%																2.38		%
Net interest income/margin												$	43,457					3.70		%										$	42,065					3.66		%										$	33,977					3.45		%

6

Net interest income during the three months ended March 31, 2026 increased by $1.4 million, or 3.31%, to $43.5 million, as compared to $42.1 million during the three months ended December 31, 2025. Net interest margin totaled 3.70% for the three months ended March 31, 2026, an increase of four basis points compared to the prior quarter. The increase in net interest income is primarily attributable to an additional $0.9 million in interest income, mainly due to a $178.3 million, or 4.49%, increase in the average balance of loans during the three months ended March 31, 2026 compared to the prior quarter. The increase in interest income was augmented by a $0.5 million decrease in interest expense due to a 10 basis point decrease in the average cost of deposits during the three months ended March 31, 2026 compared to the prior quarter. The average balance of deposits increased by $195.0 million, or 4.73%, during the three months ended March 31, 2026, but the decrease in the cost associated with deposits led to a net reduction in total interest expense. In addition, the average balance of non-interest bearing deposits increased by $54.8 million, or 5.14%, compared to the prior quarter.

As compared to the three months ended March 31, 2025, net interest income during the three months ended March 31, 2026 increased by $9.5 million, or 27.90%, to $43.5 million from $34.0 million. Net interest margin totaled 3.70% for the three months ended March 31, 2026, an increase of 25 basis points compared to the same quarter of the prior year. The increase in net interest income is primarily attributable to an additional $10.3 million in interest income, mainly due to a $582.5 million, or 16.32%, increase in the average balance of loans and a five basis point improvement in the average yield on loans during the three months ended March 31, 2026, as compared to the same quarter of the prior year. The increase in interest income was partially offset by a $0.8 million increase in interest expense due to a $734.4 million, or 20.48%, increase in the average balance of deposits during the three months ended March 31, 2026. The average cost of deposits during the three months ended March 31, 2026 was 2.13%, a decrease of 35 basis points compared to the same quarter of the prior year, which helped to moderate the increase in interest expense related to deposits. In addition, the average balance of non-interest-bearing deposits increased by $211.1 million, or 23.17%, compared to the same period of the prior year.

Loans by Type

The following table provides loan balances, excluding deferred loan fees, by type as of the dates shown:

(in thousands)						March 31, 2026						December 31, 2025
Real estate:
Commercial						$	3,421,902					$	3,305,713
Commercial land and development						2,519						1,352
Commercial construction						108,179						96,760
Residential construction						17,808						8,389
Residential						43,195						37,566
Farmland						61,090						59,606
Commercial:
Secured						243,140						251,736
Unsecured						41,971						40,422
Consumer and other						275,891						275,475
Net deferred loan fees						(2,302)						(2,090)
Total loans held for investment						$	4,213,393					$	4,074,929

Interest-bearing Deposits

The following table provides interest-bearing deposit balances by type as of the dates shown:

(in thousands)						March 31, 2026						December 31, 2025
Interest-bearing transaction accounts						$	349,138					$	344,200
Savings accounts						141,961						139,169
Money market accounts						2,291,215						2,078,567
Time accounts						454,343						554,611
Total interest-bearing deposits						$	3,236,657					$	3,116,547

7

Asset Quality

Allowance for Credit Losses

At March 31, 2026, the Company’s allowance for credit losses was $46.4 million, as compared to $44.4 million at December 31, 2025. The $2.0 million increase in the allowance is due to a $2.6 million provision for credit losses recorded during the three months ended March 31, 2026, partially offset by net charge-offs of $0.6 million, primarily attributable to commercial and industrial loans, during the same period.

The Company’s ratio of nonperforming loans to loans held for investment decreased to 0.07% at March 31, 2026 from 0.08% at December 31, 2025. Loans designated as watch increased from $101.9 million to $143.5 million between December 31, 2025 and March 31, 2026. Loans designated as substandard increased from $22.3 million to $23.4 million between December 31, 2025 and March 31, 2026. There were no loans with doubtful risk grades at March 31, 2026 or December 31, 2025.

A summary of the allowance for credit losses by loan class is as follows:

						March 31, 2026												December 31, 2025
(in thousands)						Amount						% of Total						Amount						% of Total
Real estate:
Commercial						$	26,919					57.96		%				$	25,219					56.77		%
Commercial land and development						93						0.20		%				56						0.13		%
Commercial construction						3,982						8.57		%				4,050						9.12		%
Residential construction						492						1.06		%				213						0.48		%
Residential						421						0.91		%				362						0.82		%
Farmland						495						1.07		%				467						1.05		%
						32,402						69.77		%				30,367						68.37		%
Commercial:
Secured						11,191						24.10		%				11,204						25.23		%
Unsecured						487						1.05		%				482						1.09		%
						11,678						25.15		%				11,686						26.32		%
Consumer and other						2,359						5.08		%				2,356						5.31		%
Total allowance for credit losses						$	46,439					100.00		%				$	44,409					100.00		%

The ratio of allowance for credit losses to loans held for investment was 1.10% at March 31, 2026, as compared to 1.09% at December 31, 2025.

Non-interest Income

The following table presents the key components of non-interest income for the periods indicated:

						Three months ended
(in thousands)						March 31, 2026						December 31, 2025						$ Change						% Change
Service charges on deposit accounts						$	135					$	159					$	(24)					(15.09)		%
Loan-related fees						1,265						557						708						127.11		%
FHLB stock dividends						762						332						430						129.52		%
Earnings on bank-owned life insurance						225						234						(9)						(3.85)		%
Other income						(744)						118						(862)						(730.51)		%
Total non-interest income						$	1,643					$	1,400					$	243					17.36		%

Loan-related fees. The increase resulted primarily from an increase of $0.7 million in fees from swap referrals during the three months ended March 31, 2026, as compared to the three months ended December 31, 2025.

8

FHLB stock dividends. The increase related primarily to a $0.4 million special cash dividend from the FHLB during the three months ended March 31, 2026 that did not occur during the three months ended December 31, 2025.

Other income. The decrease related primarily to an overall decline in earnings related to investments in venture-backed funds during the three months ended March 31, 2026, as compared to the three months ended December 31, 2025.

The following table presents the key components of non-interest income for the periods indicated:

						Three months ended
(in thousands)						March 31, 2026						March 31, 2025						$ Change						% Change
Service charges on deposit accounts						$	135					$	215					$	(80)					(37.21)		%
Gain on sale of loans						—						125						(125)						(100.00)		%
Loan-related fees						1,265						448						817						182.37		%
FHLB stock dividends						762						331						431						130.21		%
Earnings on bank-owned life insurance						225						161						64						39.75		%
Other income						(744)						79						(823)						(1,041.77)		%
Total non-interest income						$	1,643					$	1,359					$	284					20.90		%

Gain on sale of loans. The decrease related to an overall decline in the volume of loans sold due to a strategic, intentional reduction in originations of loans held for sale. During the three months ended March 31, 2026, no loans were sold, as compared to approximately $1.7 million of loans sold with an effective yield of 7.24% during the three months ended March 31, 2025.

Loan-related fees. The increase resulted primarily from an increase of $0.8 million in fees from swap referrals during the three months ended March 31, 2026, as compared to the three months ended March 31, 2025.

FHLB stock dividends. The increase related primarily to a $0.4 million special cash dividend from the FHLB during the three months ended March 31, 2026 that did not occur during the three months ended March 31, 2025.

Other income. The decrease related primarily to an overall decline in earnings related to investments in venture-backed funds during the three months ended March 31, 2026 compared to the three months ended March 31, 2025.

Non-interest Expense

The following table presents the key components of non-interest expense for the periods indicated:

						Three months ended
(in thousands)						March 31, 2026						December 31, 2025						$ Change						% Change
Salaries and employee benefits						$	11,430					$	10,125					$	1,305					12.89		%
Occupancy and equipment						829						788						41						5.20		%
Data processing and software						1,551						1,597						(46)						(2.88)		%
Federal Deposit Insurance Corporation (“FDIC”) insurance						545						525						20						3.81		%
Professional services						926						960						(34)						(3.54)		%
Advertising and promotional						744						988						(244)						(24.70)		%
Loan-related expenses						247						364						(117)						(32.14)		%
Other operating expenses						1,122						2,310						(1,188)						(51.43)		%
Total non-interest expense						$	17,394					$	17,657					$	(263)					(1.49)		%

Salaries and employee benefits. The increase related primarily to: (i) a $1.3 million increase in salaries, benefits, and bonus expense, mainly related to a 3.86% increase in headcount between December 31, 2025 and March 31, 2026; and (ii) a $0.4 million decrease in deferred loan origination costs due to lower loan originations period-over-period. This increase was partially offset by a $0.4 million decrease in commissions paid.

9

Advertising and promotional. The decrease related primarily to a $0.1 million decrease in donations and a $0.1 million decrease in expenses related to sponsored events and partnerships.

Loan-related expenses. The decrease related primarily to lower loan originations period-over-period.

Other operating expenses. The decrease related primarily to the release of a $1.0 million loss contingency on an SBA loan during the three months ended March 31, 2026. No such release occurred during the three months ended December 31, 2025.

The following table presents the key components of non-interest expense for the periods indicated:

						Three months ended
(in thousands)						March 31, 2026						March 31, 2025						$ Change						% Change
Salaries and employee benefits						$	11,430					$	9,134					$	2,296					25.14		%
Occupancy and equipment						829						637						192						30.14		%
Data processing and software						1,551						1,457						94						6.45		%
FDIC insurance						545						455						90						19.78		%
Professional services						926						913						13						1.42		%
Advertising and promotional						744						522						222						42.53		%
Loan-related expenses						247						319						(72)						(22.57)		%
Other operating expenses						1,122						1,608						(486)						(30.22)		%
Total non-interest expense						$	17,394					$	15,045					$	2,349					15.61		%

Salaries and employee benefits. The increase related primarily to: (i) a $2.3 million increase in salaries, benefits, and bonus expense, mainly related to a 17.48% increase in headcount between March 31, 2025 and March 31, 2026; and (ii) a $0.5 million increase in commissions paid. This increase was partially offset by a $0.6 million increase in deferred loan origination costs due to higher loan originations period-over-period.

Occupancy and equipment. The increase was primarily due to expenses for the Walnut Creek branch office and Newport Beach non-depository office during the three months ended March 31, 2026, which did not exist for the three months ended March 31, 2025.

Advertising and promotional. The increase related primarily to additional expenses incurred to support the expansion of the Bank’s business development teams, including $0.1 million related to business development expenses and $0.1 million related to donation, sponsorship, and advertising expenses.

Other operating expenses. The decrease related primarily to the release of a $1.0 million loss contingency on an SBA loan during the three months ended March 31, 2026. No such release occurred during the three months ended March 31, 2025. This was partially offset by individually immaterial increases in expenses related to operations, including administration, courier service, and travel.

Provision for Income Taxes

Three months ended March 31, 2026, as compared to three months ended December 31, 2025

Provision for income taxes increased by $1.0 million, or 19.48%, for the three months ended March 31, 2026, as compared to the three months ended December 31, 2025, which was primarily due to: (i) an increase in taxable income recognized; and (ii) a $0.7 million net reduction in transferable tax credits recognized during the three months ended March 31, 2026. The effective tax rates were 25.61% and 23.32% for the three months ended March 31, 2026 and December 31, 2025, respectively.

Three months ended March 31, 2026, as compared to three months ended March 31, 2025

Provision for income taxes increased by $1.1 million, or 21.40%, for the three months ended March 31, 2026, as compared to the three months ended March 31, 2025. This increase was primarily driven by an increase in taxable income, partially offset by a $0.2 million benefit recorded during the three months ended March 31, 2026 related to the purchase of transferable tax credits that did not occur during the three months ended March 31, 2025. The effective tax rates were 25.61% and 28.71% for the three months ended March 31, 2026 and March 31, 2025, respectively.

10

Webcast Details

Five Star Bancorp will host a live webcast for analysts and investors on Tuesday, April 28, 2026 at 1:00 PM ET (10:00 AM PT) to discuss its first quarter financial results. To view the live webcast, visit the “News & Events” section of the Company’s website under “Events” at https://investors.fivestarbank.com/news-events/events. The webcast will be archived on the Company’s website for a period of 90 days.

About Five Star Bancorp

Five Star is a bank holding company headquartered in Rancho Cordova, California. Five Star operates through its wholly owned banking subsidiary, Five Star Bank. The Bank has nine branches in Northern California.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections, and statements of the Company’s beliefs concerning future events, business plans, objectives, expected operating results, and the assumptions upon which those statements are based. Forward-looking statements include without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements, and are typically identified with words such as “may,” “could,” “should,” “will,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “aim,” “intend,” “plan,” or words or phases of similar meaning. The Company cautions that the forward-looking statements are based largely on the Company’s expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company’s control. Such forward-looking statements are based on various assumptions (some of which may be beyond the Company’s control) and are subject to risks and uncertainties, which change over time, and other factors, which could cause actual results to differ materially from those currently anticipated. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. If one or more of the factors affecting the Company’s forward-looking information and statements proves incorrect, then the Company’s actual results, performance, or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements contained in this press release. Therefore, the Company cautions you not to place undue reliance on the Company’s forward-looking information and statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 under the section entitled “Risk Factors,” and other documents filed by the Company with the Securities and Exchange Commission from time to time.

The Company disclaims any duty to revise or update the forward-looking statements, whether written or oral, to reflect actual results or changes in the factors affecting the forward-looking statements, except as specifically required by law.

11

Condensed Financial Data (Unaudited)

						Three months ended
(in thousands, except per share and share data)						March 31, 2026						December 31, 2025						March 31, 2025
Revenue and Expense Data
Interest and fee income						$	67,347					$	66,421					$	57,087
Interest expense						23,890						24,356						23,110
Net interest income						43,457						42,065						33,977
Provision for credit losses						2,675						2,800						1,900
Net interest income after provision						40,782						39,265						32,077
Non-interest income:
Service charges on deposit accounts						135						159						215
Gain on sale of loans						—						—						125
Loan-related fees						1,265						557						448
FHLB stock dividends						762						332						331
Earnings on bank-owned life insurance						225						234						161
Other income						(744)						118						79
Total non-interest income						1,643						1,400						1,359
Non-interest expense:
Salaries and employee benefits						11,430						10,125						9,134
Occupancy and equipment						829						788						637
Data processing and software						1,551						1,597						1,457
FDIC insurance						545						525						455
Professional services						926						960						913
Advertising and promotional						744						988						522
Loan-related expenses						247						364						319
Other operating expenses						1,122						2,310						1,608
Total non-interest expense						17,394						17,657						15,045
Income before provision for income taxes						25,031						23,008						18,391
Provision for income taxes						6,410						5,365						5,280
Net income						$	18,621					$	17,643					$	13,111
Comprehensive Income
Net income						$	18,621					$	17,643					$	13,111
Net unrealized holding (loss) gain on securities available-for-sale during the period						(1,173)						1,004						1,030
Less: Income tax (benefit) expense related to other comprehensive (loss) income						(201)						269						305
Other comprehensive (loss) income						(972)						735						725
Total comprehensive income						$	17,649					$	18,378					$	13,836

12

						Three months ended
(in thousands, except per share and share data)						March 31, 2026						December 31, 2025						March 31, 2025
Share and Per Share Data
Earnings per common share:
Basic						$	0.87					$	0.83					$	0.62
Diluted						$	0.87					$	0.83					$	0.62
Book value per share						$	21.45					$	20.87					$	19.06
Tangible book value per share(1)						$	21.45					$	20.87					$	19.06
Weighted average basic common shares outstanding						21,253,085						21,231,563						21,209,881
Weighted average diluted common shares outstanding						21,313,078						21,289,056						21,253,588
Shares outstanding at end of period						21,376,153						21,367,387						21,329,235
Selected Financial Ratios
ROAA						1.55		%				1.50		%				1.30		%
ROAE						16.73		%				15.97		%				13.28		%
Net interest margin						3.70		%				3.66		%				3.45		%
Loan to deposit(2)						94.27		%				97.00		%				97.01		%

(1) See the section entitled “Non-GAAP Reconciliation (Unaudited)” for a reconciliation of this non-GAAP financial measure.

(2) Loan balance in loan to deposit ratio is total loans held for investment and sale at period end. Deposit balance in loan to deposit ratio is total deposits at period end.

13

(in thousands)						March 31, 2026						December 31, 2025						March 31, 2025
Balance Sheet Data
Cash and due from financial institutions						$	46,123					$	33,978					$	42,473
Interest-bearing deposits in banks						598,236						472,873						410,098
Time deposits in banks						100						100						4,024
Securities - available-for-sale, at fair value						91,715						94,699						97,111
Securities - held-to-maturity, at amortized cost						2,135						2,190						2,585
Loans held for sale						—						—						2,669
Loans held for investment						4,213,393						4,074,929						3,621,819
Allowance for credit losses						(46,439)						(44,409)						(39,224)
Loans held for investment, net of allowance for credit losses						4,166,954						4,030,520						3,582,595
FHLB stock						15,000						15,000						15,000
Operating leases, right-of-use asset						10,428						10,802						5,944
Premises and equipment, net						2,090						2,109						1,524
Bank-owned life insurance						28,494						23,910						23,246
Interest receivable and other assets						70,476						68,680						57,788
Total assets						$	5,031,751					$	4,754,861					$	4,245,057
Non-interest-bearing deposits						$	1,232,696					$	1,084,537					$	933,652
Interest-bearing deposits						3,236,657						3,116,547						2,802,702
Total deposits						4,469,353						4,201,084						3,736,354
Subordinated notes, net						74,077						74,041						73,932
Operating lease liability						11,547						11,872						6,591
Interest payable and other liabilities						18,255						22,032						21,729
Total liabilities						4,573,232						4,309,029						3,838,606
Common stock						304,372						303,990						302,788
Retained earnings						164,262						150,985						115,309
Accumulated other comprehensive loss, net of taxes						(10,115)						(9,143)						(11,646)
Total shareholders’ equity						458,519						445,832						406,451
Total liabilities and shareholders’ equity						$	5,031,751					$	4,754,861					$	4,245,057
Quarterly Average Balance Data
Average loans held for investment and sale						$	4,150,446					$	3,972,184					$	3,567,992
Average interest-earning assets						4,759,541						4,557,371						3,997,037
Average total assets						4,878,508						4,674,867						4,090,580
Average deposits						4,320,228						4,125,259						3,585,782
Average total equity						451,469						438,285						400,501
Credit Quality
Allowance for credit losses to nonperforming loans						1,649.11		%				1,434.40		%				2,222.32		%
Nonperforming loans to loans held for investment						0.07		%				0.08		%				0.05		%
Nonperforming assets to total assets						0.06		%				0.07		%				0.04		%
Nonperforming loans plus performing loan modifications to loans held for investment						0.07		%				0.08		%				0.05		%

14

(in thousands)						March 31, 2026						December 31, 2025						March 31, 2025
Capital Ratios
Total shareholders’ equity to total assets						9.11		%				9.38		%				9.57		%
Tangible shareholders’ equity to tangible assets(1)						9.11		%				9.38		%				9.57		%
Total capital (to risk-weighted assets)						13.17		%				13.33		%				13.97		%
Tier 1 capital (to risk-weighted assets)						10.45		%				10.58		%				11.00		%
Common equity Tier 1 capital (to risk-weighted assets)						10.45		%				10.58		%				11.00		%
Tier 1 leverage ratio						9.56		%				9.70		%				10.17		%

(1) See the section entitled “Non-GAAP Reconciliation (Unaudited)” for a reconciliation of this non-GAAP financial measure.

15

Non-GAAP Reconciliation (Unaudited)

The Company uses financial information in its analysis of the Company’s performance that is not in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The Company believes that these non-GAAP financial measures provide useful information to management and investors that is supplementary to the Company’s financial condition, results of operations, and cash flows computed in accordance with GAAP. However, the Company acknowledges that its non-GAAP financial measures have a number of limitations. As such, investors should not view these disclosures as a substitute for results determined in accordance with GAAP. Additionally, these non-GAAP measures are not necessarily comparable to non-GAAP financial measures that other banking companies use. Other banking companies may use names similar to those the Company uses for the non-GAAP financial measures the Company discloses, but may calculate them differently. Investors should understand how the Company and other companies each calculate their non-GAAP financial measures when making comparisons.

Tangible shareholders’ equity to tangible assets is defined as total equity less goodwill and other intangible assets, divided by total assets less goodwill and other intangible assets. The most directly comparable GAAP financial measure is total shareholders’ equity to total assets. Management believes that tangible shareholders’ equity to tangible assets is a useful financial measure because it enables management, investors, and others to assess the Company’s financial health based on tangible capital. We had no goodwill or other intangible assets at the end of any period indicated. As a result, tangible shareholders’ equity to tangible assets is the same as total shareholders’ equity to total assets at the end of each of the periods indicated.

Tangible book value per share is defined as total shareholders’ equity less goodwill and other intangible assets, divided by the outstanding number of common shares at the end of the period. The most directly comparable GAAP financial measure is book value per share. Management believes that tangible book value per share is a useful financial measure because it enables management, investors, and others to assess the Company’s value and use of equity. We had no goodwill or other intangible assets at the end of any period indicated. As a result, tangible book value per share is the same as book value per share at the end of each of the periods indicated.

Pre-tax, pre-provision income is defined as pre-tax income plus provision for credit losses. The most directly comparable GAAP financial measure is pre-tax income. Management believes that pre-tax, pre-provision income is a useful financial measure because it enables management, investors, and others to assess the Company’s ability to generate operating profit and capital.

The following reconciliation table provides a more detailed analysis of this non-GAAP financial measure:

						Three months ended
(in thousands)						March 31, 2026						December 31, 2025						March 31, 2025
Pre-tax, pre-provision income
Pre-tax income						$	25,031					$	23,008					$	18,391
Add: provision for credit losses						2,675						2,800						1,900
Pre-tax, pre-provision income						$	27,706					$	25,808					$	20,291

Investor Contact:
Heather C. Luck, Chief Financial Officer
Five Star Bancorp
(916) 626-5008
hluck@fivestarbank.com

Media Contact:

Shelley R. Wetton, Chief Marketing Officer
Five Star Bancorp
(916) 284-7827
swetton@fivestarbank.com

16

F IRST QUARTER 2026 Investor Presentation

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 Private Securities Litigation Reform Act of 1995. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections, and statements of the Company’s beliefs concerning future events, business plans, objectives, expected operating results, and the assumptions upon which those statements are based. Forward-looking statements include without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements, and are typically identified with words such as “may,” “could,” “should,” “will,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “aim,” “intend,” “plan,” or words or phases of similar meaning. The Company cautions that the forward-looking statements are based largely on the Company’s expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company’s control. Such forward-looking statements are based on various assumptions (some of which may be beyond the Company’s control) and are subject to risks and uncertainties, which change over time, and other factors which could cause actual results to differ materially from those currently anticipated. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. If one or more of the factors affecting the Company’s forward-looking information and statements proves incorrect, then the Company’s actual results, performance, or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements contained in this presentation. Therefore, the Company cautions you not to place undue reliance on the Company’s forward-looking information and statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, under the section entitled “Risk Factors,” and other documents filed by the Company with the Securities and Exchange Commission from time to time. The Company disclaims any duty to revise or update the forward-looking statements, whether written or oral, to reflect actual results or changes in the factors affecting the forward-looking statements, except as specifically required by law. Industry Information This presentation includes statistical and other industry and market data that we obtained from government reports and other third-party sources. Our internal data, estimates, and forecasts are based on information obtained from government reports, trade, and business organizations and other contacts in the markets in which we operate and our management’s understanding of industry conditions. Although we believe that this information (including the industry publications and third-party research, surveys, and studies) is accurate and reliable, we have not independently verified such information. In addition, estimates, forecasts, and assumptions are necessarily subject to a high degree of uncertainty and risk due to a variety of factors. Finally, forward-looking information obtained from these sources is subject to the same qualifications and the additional uncertainties regarding the other forward-looking statements in this presentation. Unaudited Financial Data Numbers contained in this presentation for the quarter ended March 31, 2026 and for other quarterly periods are unaudited. Additionally, numbers contained in this presentation for the full fiscal year ended December 31, 2025 are unaudited. As a result, subsequent information may cause a change in certain accounting estimates and other financial information, including the Company’s allowance for credit losses, fair values, and income taxes. Non-GAAP Financial Measures The Company uses financial information in its analysis of the Company’s performance that is not in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The Company believes that these non-GAAP financial measures provide useful information to management and investors that is supplementary to the Company’s financial condition, results of operations, and cash flows computed in accordance with GAAP. However, the Company acknowledges that its non-GAAP financial measures have a number of limitations. See the appendix to this presentation for a reconciliation of these non-GAAP measures to the most directly comparable GAAP financial measures. First Quarter 2026 Investor Presentation | 2

Agenda First Quarter 2026 Investor Presentation | 3 •Company Overview •Financial Highlights •Loans and Credit Quality •Deposit and Capital Overview

Company Overview First Quarter 2026 Investor Presentation | 4

Company Overview Nasdaq: Headquarters: Asset Size: Loans HFI: Deposits: Bank Branches: First Quarter 2026 Investor Presentation | 5 FSBC Rancho Cordova, CA $5.0 billion $4.2 billion $4.5 billion 9 Note: Balances are as of March 31, 2026. Five Star is a community business bank that was founded to serve the commercial real estate industry. Today, the markets we serve have expanded to meet customer demand and now include manufactured housing and storage, faith- based, government, nonprofits, and more.

Executive Team First Quarter 2026 Investor Presentation | 6 James Beckwith President and Chief Executive Officer Five Star since 2003 John Dalton Senior Vice President and Chief Credit Officer Five Star since 2011 Mike Lee Senior Vice President and Chief Regulatory Officer Five Star since 2005 Michael Rizzo Executive Vice President and Chief Banking Officer Five Star since 2005 Brett Wait Senior Vice President and Chief Information Officer Five Star since 2011 Lydia Ramirez Executive Vice President and Chief Operating Officer Five Star since 2017 Heather Luck Executive Vice President and Chief Financial Officer Five Star since 2018 Shelley Wetton Senior Vice President and Chief Marketing Officer Five Star since 2015 DJ Kurtze Executive Vice President and San Francisco Bay Area President Five Star since 2023

SACRAMENTO METRO CHAMBER OF COMMERCE Recent Awards and Rankings First Quarter 2026 Investor Presentation | 7 BANK EXECUTIVE AND EMPLOYEE AWARDS 40 Under 40 Newsmaker 100 List 2025 | TOP 3 BEST-PERFORMING COMMUNITY BANKS IN THE NATION (Banks with $3B - $10B in Assets) (Ranked in Top 10% of Community Banks in the Nation) 40 Under 40 Power 100 List C-Suite Award Champions for DE&I Women Who Mean Business Fastest Growing Banks by Deposits 2024 | RAYMOND JAMES COMMUNITY BANKERS CUP FIVE STAR BANK AWARDS AND RANKINGS SACRAMENTO BUSINESS JOURNAL SAN FRANCISCO BUSINESS TIMES S&P Global Market Intelligence RANKED 4TH ON THE LIST OF THE BEST U.S. BANKS (Banks with Assets Less Than $5B) Bank Director Magazine (RankingBanking) RANKED 13TH ON THE LIST OF TOP 25 U.S. BANKS Bank Director Magazine (RankingBanking) Sacramentan of the Year Award HISPANIC CHAMBER OF COMMERCE Champion Latina Estrella Award 2025 SM-ALL STARS Piper Sandler’s COMMERCIAL REAL ESTATE WOMEN SACRAMENTO Women of Impact Award SACRAMENTO STATE ALUMNI ASSOCIATION Distinguished Alumni Award

Financial Highlights First Quarter 2026 Investor Presentation | 8

Financial Highlights - March 31, 2026 First Quarter 2026 Investor Presentation | 9 Growth • Continued balance sheet growth with increases in loans held for investment of $138.5 million and non-wholesale(1) deposits of $350.2 million since December 31, 2025. Funding • Non-interest-bearing deposits comprised 27.58% of total deposits, as compared to 25.82% of total deposits as of December 31, 2025. • Deposits comprised 97.73% of total liabilities, as compared to 97.49% of total liabilities as of December 31, 2025. Liquidity • Insured and collateralized deposits were approximately $2.9 billion, representing 65.55% of total deposits, compared to 66.20% as of December 31, 2025. • Cash and cash equivalents were $644.4 million, representing 14.42% of total deposits, compared to 12.06% as of December 31, 2025. Capital • All capital ratios were above well-capitalized regulatory thresholds. • On January 15, 2026 and April 16, 2026, the Company declared cash dividends of $0.25 per share for the three months ended December 31, 2025 and March 31, 2026, respectively. 1. The Company defines wholesale deposits as brokered deposits and California Time Deposit Program deposits.

Financial Highlights First Quarter 2026 Investor Presentation | 10 (dollars in thousands, except per share data) For the three months ended 3/31/2026 12/31/2025 3/31/2025 Profitability Net income $ 18,621 $ 17,643 $ 13,111 Return on average assets ("ROAA") 1.55 % 1.50 % 1.30 % Return on average equity ("ROAE") 16.73 % 15.97 % 13.28 % Earnings per share (basic and diluted) $ 0.87 $ 0.83 $ 0.62 Net Interest Margin Net interest margin 3.70 % 3.66 % 3.45 % Average loan yield 6.07 % 6.09 % 6.02 % Average cost of interest-bearing deposits 2.88 % 3.01 % 3.33 % Average cost of total deposits 2.13 % 2.23 % 2.48 % Total cost of funds(1) 2.20 % 2.30 % 2.56 % 3/31/2026 12/31/2025 Deposits and Securities Non-interest-bearing deposits $ 1,232,696 $ 1,084,537 Interest-bearing deposits 3,236,657 3,116,547 Total deposits 4,469,353 4,201,084 Total securities 93,850 96,889 Total securities to interest-earning assets 1.91 % 2.09 % Asset Quality Nonperforming loans to loans held for investment 0.07 % 0.08 % Allowance for credit losses to loans held for investment 1.10 % 1.09 % Note: Yields are based on average balance and annualized quarterly interest income. Costs are based on average balance and annualized quarterly interest expense. 1. Total cost of funds reflects the average cost of all funding sources, including both interest-bearing and non-interest- bearing deposits and borrowings.

$840 $973 $1,272 $1,480 $1,954 $2,557 $3,227 $3,593 $4,053 $4,755 $5,032 $1,806 $2,535 $148 $22 Total Assets Excluding PPP Loans PPP Loans 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q1 2026 Consistent and Organic Asset Growth First Quarter 2026 Investor Presentation | 11 Note: Dollars are in millions. Balances are end of period. References to PPP are the Paycheck Protection Program. 1. CAGR is based upon balances as of March 31, 2026. 2. A reconciliation of this non-GAAP measure is set forth in the appendix. (2) CAGR (1) 5 years 10 years Total Assets 17.27% 21.35%

Earnings Track Record First Quarter 2026 Investor Presentation | 12 Ea rn in gs (i n M ill io ns ) Q uarterly Earnings per Share $20.3M $22.6M $24.7M $25.8M $27.7M $18.4M $20.1M $22.2M $23.0M $25.0M $0.62 $0.68 $0.77 $0.83 $0.87 Pre-tax, pre-provision income Pre-tax income Quarterly EPS (basic and diluted) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 $0.0M $5.0M $10.0M $15.0M $20.0M $25.0M $30.0M $0.00 $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 1. A reconciliation of this non-GAAP measure is set forth in the appendix. (1)

Operating Metrics First Quarter 2026 Investor Presentation | 13 Efficiency RatioNet Interest Margin 3.42% 3.32% 3.55% 3.70% 2023 2024 2025 2026 YTD 40.35% 43.19% 41.03% 38.57% 2023 2024 2025 2026 YTD Note: All 2026 figures are through March 31, 2026.

Non-interest Income and Expense Comparison First Quarter 2026 Investor Presentation | 14 (dollars in thousands) For the three months ended 3/31/2026 12/31/2025 3/31/2025 Non-interest Income Service charges on deposit accounts $ 135 $ 159 $ 215 Gain on sale of loans — — 125 Loan-related fees 1,265 557 448 FHLB stock dividends 762 332 331 Earnings on bank-owned life insurance 225 234 161 Other income (744) 118 79 Total non-interest income $ 1,643 $ 1,400 $ 1,359 Non-interest Expense Salaries and employee benefits $ 11,430 $ 10,125 $ 9,134 Occupancy and equipment 829 788 637 Data processing and software 1,551 1,597 1,457 Federal Deposit Insurance Corporation insurance 545 525 455 Professional services 926 960 913 Advertising and promotional 744 988 522 Loan-related expenses 247 364 319 Other operating expenses 1,122 2,310 1,608 Total non-interest expense $ 17,394 $ 17,657 $ 15,045

Shareholder Returns First Quarter 2026 Investor Presentation | 15 ROAA ROAE Value per Share (book and tangible book(2)) Note: All 2026 figures are through March 31, 2026. 1. Cash dividend payout ratio on common stock is calculated as dividends on common shares divided by basic earnings per common share. 2. A reconciliation of this non-GAAP measure is set forth in the appendix. 1.44% 1.23% 1.41% 1.55% 2023 2024 2025 2026 YTD 17.85% 12.72% 14.74% 16.73% 2023 2024 2025 2026 YTD $16.56 $18.60 $20.87 $21.45 2023 2024 2025 2026 YTD Cash Dividend Payout Ratio on Common Stock(1) 26.98% 35.45% 27.59% 28.74% 2023 2024 2025 2026 YTD

Loans and Credit Quality First Quarter 2026 Investor Presentation | 16

To ta l L oa ns H el d fo r In ve st m en t ( M ill io ns ) $1,912 $2,791 $3,082 $3,533 $4,075 $4,213 $22 4.82% 4.75% 5.52% 5.89% 6.08% 6.07% 4.70% 4.73% Non-PPP Loans PPP Loans Average Loan Yield Average Loan Yield Excluding PPP Loans 2021 2022 2023 2024 2025 Q1 2026 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 Consistent Loan Growth First Quarter 2026 Investor Presentation | 17 Note: Loan balances are end of period loans held for investment. Yields are based on average balance and annualized quarterly interest income. 1. CAGR is based upon balances as of March 31, 2026. 2. A reconciliation of this non-GAAP measure is set forth in the appendix. (2) CAGR (1) 5 years Total Loans 20.10%

Commercial real estate, 81.17% Commercial construction, 2.57% Residential, 1.02% Farmland, 1.45% Commercial secured, 5.77% Commercial unsecured, 1.00% Consumer and other, 6.54% Other, 0.48% Loan Portfolio Composition First Quarter 2026 Investor Presentation | 18 Types of collateral securing commercial real estate ("CRE") loans Loan Balance ($000s) # of Loans % of CRE Manufactured home community $ 1,038,707 475 30.35 % RV Park 436,123 136 12.75 % Retail 341,234 101 9.97 % Multifamily 298,191 127 8.71 % Industrial 236,630 146 6.92 % Office 209,162 106 6.11 % Faith-based 196,811 112 5.75 % Mini storage 190,955 53 5.58 % All other types (2) 474,089 187 13.86 % Total $ 3,421,902 1,443 100.00 % Note: Balances are net book value as of March 31, 2026, before allowance for credit losses and deferred loan fees, and exclude loans held for sale. 1. Types of loans in "Other" are those that individually make up less than 1% of the total loan portfolio. 2. Types of collateral in “all other types” are those that individually make up less than 5% CRE concentration. (1)

$1,039M $436M $341M $298M $237M $209M $197M $191M $474M $1,841M $789M $721M $683M $550M $473M $529M $390M $992M 60.21% 58.97% 53.74% 53.25% 51.31% 53.69% 46.51% 55.72% 54.81% Loan Balance Collateral Value Weighted Average LTV Manufactured home community RV Park Retail Multifamily Industrial Office Faith-based Mini storage All other types $0M $250M $500M $750M $1,000M $1,250M $1,500M $1,750M $2,000M $2,250M CRE Collateral Values First Quarter 2026 Investor Presentation | 19 (1) Note: Balances are net book value as of March 31, 2026, before allowance for credit losses and deferred loan fees, and exclude loans held for sale. LTV refers to loan-to-value. 1. Types of collateral in “all other types” are those that individually make up less than 5% CRE concentration. Total CRE Weighted Average LTV 49.12%

CA, 57.9% TX, 7.0% NC, 2.8% FL, 2.8% OR, 2.6% AZ, 2.4% GA, 1.9% NV, 1.8%TN, 1.8%WA, 1.5% PA, 1.2% MO, 1.1% CO, 1.1% OH, 1.0% NY, 1.0% WI, 1.0% Other, 11.1% CML Term CRE NOO, 35.2% CML Term Multifamily, 31.5% CML Term CRE OO, 14.0% CSM Unsecured, 6.4% CML Secured, 4.5%CML Const CRE, 2.6% CML Term Ag RE, 1.4% Others, 4.4% CRE Manufactured Home, 24.6% CRE Other, 11.3% CRE RV Park, 10.3% CRE Retail, 8.1% CRE Multifamily, 7.1% Commercial Other, 6.5% Consumer Unsecured, 6.4% CRE Industrial, 5.6% CRE Office, 5.0% CRE Faith-based, 4.7% CRE Mini Storage, 4.5% Commercial Construction, 2.6% Others, 3.3% Loan Portfolio Diversification Our core business centers on commercial lending, with an emphasis on commercial real estate. We provide a comprehensive suite of loan products tailored to the needs of small and medium-sized businesses, professionals, and individuals — including commercial real estate, commercial land and construction, and farmland loans. Additionally, we offer residential real estate, construction, and consumer loans, further supporting a broad range of client needs. First Quarter 2026 Investor Presentation | 20Note: Balances are net book value as of March 31, 2026, before allowance for credit losses and deferred loan fees, and exclude loans held for sale. Loans by Type Loans by Purpose Real Estate Loans by Geography

Loan Rollforward First Quarter 2026 Investor Presentation | 21Note: Dollars are in millions. Beginning and ending balances are end of period, before allowance for credit losses, including deferred loan fees, and exclude loans held for sale. $259 $319 $353 $452 $389 $(105) $(119) $(134) $(145) $(183) $(66) $(65) $(89) $(119) $(68) Originations & Advances Paydowns Payoffs Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Beginning Balance $ 3,533 $ 3,622 $ 3,758 $ 3,887 $ 4,075 Ending Balance $ 3,622 $ 3,758 $ 3,887 $ 4,075 $ 4,213 Loans Held for Investment

Loan Yield Composition First Quarter 2026 Investor Presentation | 22 Note: Dollars are in millions. Balances are net book value as of March 31, 2026, before allowance for credit losses and deferred loan fees, and exclude loans held for sale. Weighted average rates are as of March 31, 2026 and based upon outstanding principal. Fixed, 25.1% Adjustable, 68.9% Floating, 6.0% Floating or Adjustable, 74.9% $254M $648M $656M $363M $457M $624M $158M 7.54% 5.42% 5.05% 6.64% 6.83% 6.56% 6.35% Floating Rate Loans Adjustable Rate Loans Weighted Average Rate Monthly (Floating) Rest of 2026 2027 2028 2029 2030 After 2030 $3 billion, or 68.9%, of total loans held for investment as of March 31, 2026 are adjustable rate loans. $648 million in adjustable rate loans, with a weighted average rate of 5.42%, are scheduled to reprice in 2026.

1.20% 1.02% 1.12% 1.07% 1.09% 1.10% 0.04% 0.07% 0.11% 0.12% 0.08% 0.05% Allowance for Credit Losses to Loans HFI Net Charge-offs to Average Loans HFI 2021 2022 2023 2024 2025 Q1 2026 Asset Quality First Quarter 2026 Investor Presentation | 23 Nonperforming Loan Trend Allowance for Credit Losses and Annualized Net Charge-off Trend Note: References to loans HFI are loans held for investment, which are the equivalent of total loans outstanding at each period end. References to average loans HFI are average loans held for investment during the period. References to annualized net charge-offs are annualized quarterly net charge-offs for periods less than one year, and annual net charge-offs otherwise. $0.6M $0.4M $2.0M $1.8M $3.1M $2.8M 0.03% 0.01% 0.06% 0.05% 0.08% 0.07% Nonperforming Loans Nonperforming Loans to Loans HFI 2021 2022 2023 2024 2025 Q1 2026 Our primary objective is to maintain a high level of asset quality in our loan portfolio. Therefore, we: – Place emphasis on our commercial portfolio, where we reevaluate risk assessments as a result of reviewing commercial property operating statements and borrower financials – Monitor payment performance, delinquencies, tax compliance, and property insurance compliance of our borrowers – Design our practices to facilitate the early detection and remediation of problems within our loan portfolio – Employ the use of an outside, independent consulting firm to evaluate our underwriting and risk assessment process

Allocation of Allowance for Credit Losses First Quarter 2026 Investor Presentation | 24 (dollars in thousands) December 31, 2025 March 31, 2026 Allowance for Credit Losses Amount % of Total % of Loans to Total Loans Amount % of Total % of Loans to Total Loans Real estate: Commercial $ 25,219 56.77 % 81.08 % $ 26,919 57.96 % 81.17 % Commercial land & development 56 0.13 % 0.03 % 93 0.20 % 0.06 % Commercial construction 4,050 9.12 % 2.37 % 3,982 8.57 % 2.57 % Residential construction 213 0.48 % 0.21 % 492 1.06 % 0.42 % Residential 362 0.82 % 0.92 % 421 0.91 % 1.02 % Farmland 467 1.05 % 1.46 % 495 1.07 % 1.45 % Total real estate loans 30,367 68.37 % 86.07 % 32,402 69.77 % 86.69 % Commercial: Secured 11,204 25.23 % 6.17 % 11,191 24.10 % 5.77 % Unsecured 482 1.09 % 0.99 % 487 1.05 % 1.00 % Total commercial loans 11,686 26.32 % 7.16 % 11,678 25.15 % 6.77 % Consumer & other 2,356 5.31 % 6.77 % 2,359 5.08 % 6.54 % Total allowance for credit losses $ 44,409 100.00 % 100.00 % $ 46,439 100.00 % 100.00 %

Risk Grade Migration First Quarter 2026 Investor Presentation | 25 Classified Loans (Loans Rated Substandard or Doubtful) (dollars in thousands) 2024 2025 Q1 2026 Real estate: Commercial $ 2,587 $ 21,372 $ 21,653 Commercial land and development — — — Commercial construction — — — Residential construction — — — Residential — — — Farmland — — — Commercial: Secured 48 953 1,713 Unsecured — — — Consumer and other 9 6 5 Total $ 2,644 $ 22,331 $ 23,371 % of Loan Portfolio Outstanding by Risk Grade: Pass 96.44 % 96.95 % 96.05 % Watch 3.49 % 2.50 % 3.40 % Substandard 0.07 % 0.55 % 0.55 % Note: Loan portfolio outstanding is total balance of loans outstanding at period end, before deferred loan fees and allowance for loan losses, and excluding loans held for sale.

Deposit and Capital Overview First Quarter 2026 Investor Presentation | 26

$2.3B $2.8B $3.0B $3.6B $4.2B $4.5B $1,001M $1,228M $1,409M $1,650M $2,218M $2,433M $902M $971M $831M $923M $1,085M $1,233M $279M $240M $320M $315M $344M $349M $104M $343M $467M $670M $555M $454M 8,162 9,832 11,855 13,500 15,494 15,808 Money Market & Savings Non-Interest-Bearing Interest-Bearing Transaction Time Deposits Total Number of Accounts 2021 2022 2023 2024 2025 Q1 2026 Strong Deposit Growth First Quarter 2026 Investor Presentation | 27 Note: Balances are end of period. Cost of total deposits is based on total average balance of interest-bearing and non-interest-bearing deposits and annualized quarterly deposit interest expense. 1. CAGR is based upon balances as of March 31, 2026. 2. As of quarter- or year-end, as applicable Cost of Total Deposits 0.11% 0.43% 1.97% 2.56% 2.40% 2.13% CAGR (1) 5 years Total Deposits 17.09% (2)

Diversified Funding First Quarter 2026 Investor Presentation | 28 Total Deposits(1) = $4.5 billion 97.7% of Total Liabilities Liability Mix(1) 1. Balances are as of March 31, 2026. 2. Loan balance in loan to deposit ratio is total loans held for investment and sale at period end. Loan(2) to Deposit Ratio Non-Interest-Bearing Deposits to Total Deposits 85.1% 100.7% 102.2% 99.4% 97.0% 94.3% 2021 2022 2023 2024 2025 Q1 2026 39.5% 34.9% 27.5% 25.9% 25.8% 27.6% 2021 2022 2023 2024 2025 Q1 2026 Money Market, 50.1% Non-Interest- Bearing, 27.0% Time Deposits, 9.9% Interest-Bearing Transaction, 7.6% Savings, 3.1% Borrowings & Subordinated Notes, 1.6% Other Liabilities, 0.7%

Government, 26.32% Commercial Real Estate & Construction, 17.24% Other, 12.07% Professional Service Practice, 8.85% Small to Medium Sized Business, 8.61% Non-profit, 8.13% Healthcare & Practice, 6.94% Manufactured Home Community, 6.17% Faith-based, 2.04%Venture Banking, 1.70% Food, Agribusiness, & Diversified Industries, 1.40% RV Park, 0.53% Deposit Composition 7.98 Years Average Age of Relationships > $5 million Note: Balances are as of March 31, 2026 and include time and wholesale deposits. 1. Types of accounts in “Other” are brokered deposits, which comprise 2.08% of total deposits, as well as individuals, trusts, estates, and market verticals that individually make up less than 0.40% of all deposits. 2. Government and Local Agency Depositors includes State of California, which comprises 6.49% of total deposits. $284,000 Average Deposit Account Balance Relationships > $5 million, 60.67% Relationships ≤ $5 million, 39.33% Total Deposits by Relationship Size Local Agency BreakoutTotal Deposits by Market Vertical Local Agency Depositors, 26.33% All Other Depositors, 73.67% First Quarter 2026 Investor Presentation | 29 (2) (1) (2)

Capital Ratios First Quarter 2026 Investor Presentation | 30 Tier 1 Leverage Ratio Tier 1 Capital to RWA Total Capital to RWA Common Equity Tier 1 to RWA Note: References to RWA are risk-weighted assets. 9.47% 8.60% 8.73% 10.05% 9.70% 9.56% 2021 2022 2023 2024 2025 Q1 2026 11.44% 8.99% 9.07% 11.02% 10.58% 10.45% 2021 2022 2023 2024 2025 Q1 2026 11.44% 8.99% 9.07% 11.02% 10.58% 10.45% 2021 2022 2023 2024 2025 Q1 2026 13.98% 12.46% 12.30% 13.99% 13.33% 13.17% 2021 2022 2023 2024 2025 Q1 2026

We strive to become the top business bank in all markets we serve through exceptional service, deep connectivity, and customer empathy. We are dedicated to serving real estate, agricultural, faith-based, and small to medium-sized enterprises. We aim to consistently deliver value that meets or exceeds the expectations of our shareholders, customers, employees, business partners, and community. “ Five Star Bank stepped in when Point Reyes Farmstead Cheese Company started having issues with our prior lender. They were flexible and agreed to expand our credit line and work with us on financial covenants that made sense for our business. They made the transition for operating accounts smooth and easy. They were also willing to work with us to refinance and increase our debt. It has been refreshing to have a local bank that listens to our needs and helps us out in a difficult lending environment.” Diana Giacomini Hagan, Co-owner & CFO Jill Giacomini Basch, Co-owner & CMO Lynn Giacomini Stray, Co-owner & COO “ Five Star Bank customer, Visit Sacramento, ensures our region is a leading destination for meetings, conventions, travel trade and leisure, which support the vitality of our regional economy by driving almost $200 million in visitor spending annually. Their vision is for every person in the world to say, “I want to visit Sacramento!” David Eadie, Chief Sports & Entertainment Officer Sonya Bradley, Chief DEI & Community Relations Officer Mariles Krock, Chief Convention Sales & Services Officer Kari Miskit, Chief Operating Officer & Media Relations Mike Testa, President & CEO “ Five Star Bank customer, Cristo Rey High School Sacramento, is a Catholic, fully-accredited college preparatory high school. They offer a focused curriculum designed to support students not only in being accepted to college, but in graduating from college. Their goal is to educate the “whole person,” that is the mind, body and spirit of each student. They offer a challenging academic curriculum, as well as opportunities for co-curricular, spiritual and religious formation. Dave Lucchetti, Five Star Bancorp Retired Board Chair Father Christopher Calderon, President Cristo Rey Students CRISTO REY HIGH SCHOOL SACRAMENTO POINT REYES FARMSTEAD CHEESE COMPANY VISIT SACRAMENTO

Appendix: Non-GAAP Reconciliation (Unaudited) The Company uses financial information in its analysis of the Company's performance that is not in conformity with GAAP. The Company believes that these non- GAAP financial measures provide useful information to management and investors that is supplementary to the Company's financial condition, results of operations, and cash flows computed in accordance with GAAP. However, the Company acknowledges that its non-GAAP financial measures have a number of limitations. As such, investors should not view these disclosures as a substitute for results determined in accordance with GAAP. Additionally, these non-GAAP measures are not necessarily comparable to non-GAAP financial measures that other banking companies use. Other banking companies may use names similar to those the Company uses for the non-GAAP financial measures the Company discloses but may calculate them differently. Investors should understand how the Company and other companies each calculate their non-GAAP financial measures when making comparisons. Average loan yield, excluding PPP loans, is defined as the daily average loan yield, excluding PPP loans, and includes both performing and nonperforming loans. The most directly comparable GAAP financial measure is average loan yield. Management believes that average loan yield, excluding PPP loans, is a useful financial measure because it enables management, investors, and others to assess the Company's ability to manage yield on core loans. We had no PPP loans nor interest and fee income on PPP loans for the periods shown in this presentation other than the years ended December 31, 2020, 2021, and 2022. As a result, average loan yield, excluding PPP loans, is the same as daily average loan yield for all periods presented other than the years ended December 31, 2020, 2021, and 2022. Reconciliations for such periods are provided below. Total assets, excluding PPP loans, is defined as total assets less PPP loans. The most directly comparable GAAP financial measure is total assets. Management believes that total assets, excluding PPP loans, is a useful financial measure because it enables management, investors, and others to assess the Company's ability to manage core assets. We had no PPP loans as of the period ends shown in this presentation other than as of December 31, 2020 and 2021. As a result, total assets, excluding PPP loans, is the same as total assets for all periods presented, other than as of December 31, 2020 and 2021. Reconciliations for such periods are provided below. Pre-tax, pre-provision income is defined as pre-tax income plus provision for credit losses. The most directly comparable GAAP financial measure is pre-tax income. Management believes that pre-tax, pre-provision income is a useful financial measure because it enables management, investors, and others to assess the Company's ability to generate operating profit and capital. Tangible book value per share is defined as total shareholders’ equity less goodwill and other intangible assets, divided by the outstanding number of common shares at the end of the period. The most directly comparable GAAP financial measure is book value per share. Management believes that tangible book value per share is a useful financial measure because it enables management, investors, and others to assess the Company's value and use of equity. We had no goodwill or other intangible assets at the end of any period indicated. As a result, tangible book value per share is the same as book value per share at the end of each of the periods indicated. First Quarter 2026 Investor Presentation | 32

Appendix: Non-GAAP Reconciliation (Unaudited) First Quarter 2026 Investor Presentation | 33 (dollars in millions) As of Total assets, excluding PPP loans 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 3/31/2026 Total assets $ 1,954 $ 2,557 $ 3,227 $ 3,593 $ 4,053 $ 4,755 $ 5,032 Less: PPP loans 148 22 — — — — — Total assets, excluding PPP loans $ 1,806 $ 2,535 $ 3,227 $ 3,593 $ 4,053 $ 4,755 $ 5,032 (dollars in thousands) Three months ended Pre-tax, pre-provision income 3/31/2025 6/30/2025 9/30/2025 12/31/25 3/31/2026 Pre-tax income $ 18,391 $ 20,099 $ 22,234 $ 23,008 $ 25,031 Add: provision for credit losses 1,900 2,500 2,500 2,800 2,675 Pre-tax, pre-provision income $ 20,291 $ 22,599 $ 24,734 $ 25,808 $ 27,706 (dollars in thousands) Year ended Three months ended Average loan yield, excluding PPP loans 12/31/21 12/31/22 12/31/23 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 Interest and fee income on loans $ 78,894 $ 111,795 $ 162,713 $ 193,341 $ 52,931 $ 56,016 $ 59,257 $ 61,010 $ 62,116 Less: interest and fee income on PPP loans 7,417 635 — — — — — — — Interest and fee income on loans, excluding PPP loans 71,477 111,160 162,713 193,341 52,931 56,016 59,257 61,010 62,116 Annualized interest and fee income on loans, excluding PPP loans (numerator) 71,477 111,160 162,713 193,341 214,665 224,680 235,096 242,051 251,915 Average loans held for investment and sale 1,637,280 2,353,148 2,947,603 3,283,874 3,567,992 3,691,616 3,831,851 3,972,184 4,150,446 Less: average PPP loans 116,652 2,297 — — — — — — — Average loans held for investment and sale, excluding PPP loans (denominator) 1,520,628 2,350,851 2,947,603 3,283,874 3,567,992 3,691,616 3,831,851 3,972,184 4,150,446 Average loan yield, excluding PPP loans 4.70 % 4.73 % 5.52 % 5.89 % 6.02 % 6.09 % 6.14 % 6.09 % 6.07 %

FAQ

How did Five Star Bancorp (FSBC) perform in Q1 2026?

Five Star Bancorp generated net income of $18.6 million in Q1 2026, up from $17.6 million in Q4 2025 and $13.1 million a year earlier. Earnings per share were $0.87, reflecting stronger profitability and higher net interest income.

What were Five Star Bancorp’s key profitability ratios for Q1 2026?

In Q1 2026, Five Star Bancorp reported a ROAA of 1.55% and a ROAE of 16.73%. Net interest margin improved to 3.70%, while the efficiency ratio strengthened to 38.57%, indicating solid returns and disciplined operating expenses.

How did loans and deposits at Five Star Bancorp change in Q1 2026?

As of March 31, 2026, loans held for investment reached $4.21 billion and total deposits were $4.47 billion. Deposits increased by $268.3 million, or 6.39%, since December 31, 2025, supported by growth in both interest-bearing and non-interest-bearing balances.

What is the asset quality profile for Five Star Bancorp as of March 31, 2026?

Asset quality remained strong at Five Star Bancorp. Nonperforming loans were 0.07% of loans held for investment, and the allowance for credit losses was 1.10% of loans. Nonperforming assets were 0.06% of total assets, indicating limited problem credits.

What were Five Star Bancorp’s funding and deposit mix metrics in Q1 2026?

In Q1 2026, non-interest-bearing deposits totaled $1.23 billion, or 27.58% of total deposits. Total cost of funds was 2.20%, down from 2.30% in Q4 2025. Insured and collateralized deposits were about $2.9 billion, or 65.55% of total deposits.

Did Five Star Bancorp pay dividends to shareholders in early 2026?

Yes. Five Star Bancorp’s board declared cash dividends of $0.25 per share for both the quarter ended December 31, 2025 and the quarter ended March 31, 2026. The April 16, 2026 dividend is payable May 11, 2026 to shareholders of record on May 4, 2026.

How well-capitalized was Five Star Bancorp at the end of Q1 2026?

At March 31, 2026, Five Star Bancorp reported a common equity Tier 1 capital ratio of 10.45%, a total capital ratio of 13.17%, and a Tier 1 leverage ratio of 9.56%. These levels exceed the regulatory thresholds for a well-capitalized institution.

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