From GlobeNewswire: 2025-04-28 18:30:00

Five Star Bancorp reported a net income of $13.1 million for the first quarter of 2025, compared to $13.3 million in the previous quarter and $10.6 million in the same quarter last year. The company’s return on average assets was 1.30% and return on average equity was 13.28%. Pre-tax income was $18.4 million, with $20.3 million in pre-tax, pre-provision income.

The company’s San Francisco Bay Area operations saw an increase in employees from 27 to 31, with total deposits reaching $379.8 million as of March 31, 2025. Total loans held for investment increased by $89.1 million, while total deposits increased by $178.4 million, with wholesale deposits rising by $130.0 million.

Five Star Bancorp declared a cash dividend of $0.20 per share during the first quarter of 2025 and was ranked third among best-performing banks in the nation by S&P Global Market Intelligence. The company’s net interest margin increased to 3.45%, while the efficiency ratio rose to 42.58%.

The company’s net income for the first quarter of 2025 was $13.1 million, a slight decrease from the previous quarter. Net interest income increased by $0.5 million, while the provision for credit losses also increased. Non-interest income decreased by $0.3 million, and non-interest expenses increased by $0.6 million.

Five Star Bancorp’s net income for the first quarter of 2025 was $13.1 million, up from $10.6 million in the same quarter last year. Net interest income increased by $7.2 million, driven by higher loan interest income. The provision for credit losses also increased, and non-interest income decreased slightly.

The company’s key components of non-interest income for the first quarter of 2025 included service charges on deposit accounts, gain on sale of loans, loan-related fees, FHLB stock dividends, earnings on bank-owned life insurance, and other income. Total non-interest income was $1.4 million, an 18.43% decrease from the previous quarter.

Five Star Bancorp’s non-interest expenses for the first quarter of 2025 increased by $0.6 million compared to the previous quarter. Salaries and employee benefits, professional services, and other operating expenses were the main contributors to the increase. Total non-interest expenses for the quarter were $15.0 million.

The company’s provision for income taxes decreased to $5.3 million in the first quarter of 2025 from $6.1 million in the previous quarter. The effective tax rate was 28.71%. Provision for income taxes increased by $1.0 million compared to the same quarter last year, with an effective tax rate of 28.71%.

Five Star Bancorp will host a live webcast on April 29, 2025, to discuss its first quarter financial results. The company is headquartered in Rancho Cordova, California, and operates through its banking subsidiary, Five Star Bank, with eight branches in Northern California.



Read more at GlobeNewswire:: Five Star Bancorp Announces First Quarter 2025 Results