Five Star Bancorp · NASDAQ:FSBC
Five Star Bancorp — Q3 2025 Earnings Presentation
33 slides from Five Star Bancorp's earnings presentation, 2025
Slide 1: Five Star Bancorp Third Quarter 2025 Investor Presentation
* rt FIVE STAR BANCORP 2 — Investor Presentation ANNIVERSARY Third Quarter 2025
Slide 2: Safe Harbor Statement and Disclaimer
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 co
Slide 3: Agenda
Agenda • Company Overview • Financial Highlights • Loans and Credit Quality • Deposit and Capital Overview Third Quarter 2025 Investor Presentation | 3
Slide 4: Company Overview
Company Overview Third Quarter 2025 Investor Presentation | 4
Slide 5: Executive Team
Executive Team James Beckwith John Dalton DJ Kurtze Mike Lee Heather Luck President and Senior Vice President and Executive Vice President and Senior Vice President and Executive Vice President and Chief Executive Officer Chief Credit Officer San Francisco Bay Area President Chief Regulatory Officer
Slide 6: Company Overview
Company Overview Nasdaq: FSBC Headquarters: Rancho Cordova, CA Asset Size: $4.6 billion Loans HFI: $3.9 billion Deposits: $4.1 billion Bank Branches: 9 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 m
Slide 7: 2025 Awards & Rankings
2025 Awards & Rankings FIVE STAR BANK RANKINGS BANK EXECUTIVE & EMPLOYEE AWARDS S&P Global Market Intelligence SACRAMENTO BUSINESS JOURNAL 2024 | TOP 3 BEST-PERFORMING COMMUNITY BANKS IN THE NATION Power 100 List (Banks with $3B - $10B in Assets) C-Suite Award Champions for DE&I Women Who Mean Busin
Slide 8: Financial Highlights
Financial Highlights Third Quarter 2025 Investor Presentation | 8
Slide 9: Financial Highlights
Financial Highlights (dollars in thousands, except per share data) For the three months ended 9/30/2025 6/30/2025 9/30/2024 Net income $ 16,344 $ 14,508 $ 10,941 Return on average assets (ROAA) 1.44 % 1.37 % 1.18 % Profitability Return on average equity (ROAE) 15.35 % 14.17 % 11.31 % Earnings per sh
Slide 10: Financial Highlights - September 30, 2025
Financial Highlights - September 30, 2025 • Continued balance sheet growth with increases in loans held for investment of $129.2 million Growth and non-wholesale(1) deposits of $359.0 million since June 30, 2025. • Non-interest-bearing deposits comprised 25.81% of total deposits, as compared to 25.7
Slide 11: Consistent and Organic Asset Growth
Consistent and Organic Asset Growth $4,642 CAGR (1) 5 years 10 years $4,053 Total Assets 19.98 % 19.59 % $3,593 $3,227 $2,557 $22 $1,954 $148 $1,480 $1,272 $2,535 $973 $811 $840 $1,806 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q3 2025 (2) Total Assets Excluding PPP Loans PPP Loans Note: Doll
Slide 12: Earnings Track Record
Earnings Track Record $24.7M $25.0M $1.20 $22.6M $22.2M $20.7M $20.3M $20.1M $1.00 $20.0M $19.4M $18.0M $18.4M $17.2M Quarterly Earnings per Share $15.9M $0.80 $15.0M $15.2M $15.2M Earnings (in Millions) $15.0M $0.77 $0.68 $0.63 $0.60 $0.62 $0.62 $10.0M $0.52 $0.51 $0.40 $5.0M $0.20 $0.0M $0.00 Q1 2
Slide 13: Operating Metrics
Operating Metrics Net Interest Margin Efficiency Ratio 3.75% 43.19% 41.18% 40.35% 3.52% 36.90% 3.42% 3.32% 2022 2023 2024 2025 YTD 2022 2023 2024 2025 YTD Note: All 2025 figures are through September 30, 2025. Third Quarter 2025 Investor Presentation | 13
Slide 14: Non-interest Income and Expense Comparison
Non-interest Income and Expense Comparison (dollars in thousands) For the three months ended 9/30/2025 6/30/2025 9/30/2024 Service charges on deposit accounts $ 185 $ 196 $ 165 Gain on sale of loans — 119 306 Loan-related fees 683 468 406 Non-interest Federal Home Loan Bank of San Francisco stock di
Slide 15: Shareholder Returns
Shareholder Returns ROAA ROAE 1.57% 18.80% 17.85% 1.44% 1.37% 1.23% 14.29% 12.72% 2022 2023 2024 2025 YTD 2022 2023 2024 2025 YTD Cash Dividend Payout Ratio on Common Stock(1) Value per Share (book and tangible book(2)) 40.23% $20.19 35.45% $18.60 $16.56 26.98% 28.99% $14.66 2022 2023 2024 2025 YTD
Slide 16: Loans and Credit Quality
Loans and Credit Quality Third Quarter 2025 Investor Presentation | 16
Slide 17: Consistent Loan Growth
Consistent Loan Growth 4,000 CAGR (1) 5 years $3,887 $3,758 3,500 Total Loans 22.14 % $3,622 $3,533 $3,461 $3,266 3,000 $3,082 $3,104 6.14% 6.09% $2,791 6.01% 6.02% 2,500 5.98% Total Loans (Millions) 5.83% 5.71% 2,000 $22 $1,912 5.52% 1,500 $148 $1,355 1,000 4.82% 4.96% 4.75% 500 0 2020 2021 2022 20
Slide 18: Loan Portfolio Composition
Loan Portfolio Composition Types of collateral securing Loan Balance # of Consumer and commercial real estate % of CRE ($000s) Loans other, 7.15% (CRE) loans Manufactured home $ 980,499 441 31.18 % community Unsecured, 0.99% RV Park 384,290 127 12.22 % Secured, 4.91% Retail 303,509 98 9.65 % Commerc
Slide 19: CRE Collateral Values
CRE Collateral Values 60.68% $2,000M 58.91% $1,732M 56.39% $1,750M 55.15% 55.01% 52.79% 52.25% 51.59% $1,500M $1,250M 46.51% $980M Loan Balance $1,000M $949M Collateral Value $750M $694M Weighted Average LTV $623M $556M $521M $507M $500M $450M Total CRE Weighted $384M $382M $375M $304M Average LTV $
Slide 20: Loan Portfolio Diversification
Loan Portfolio Diversification We focus primarily on commercial lending, with an emphasis on commercial real estate. We offer a variety of loans to small and medium-sized businesses, professionals, and individuals, including commercial real estate, commercial land and construction, and farmland loan
Slide 21: Loan Rollforward
Loan Rollforward $390 $334 $353 $319 $263 $259 Originations & Advances $150 Paydowns Payoffs $(51) $(99) $(119) $(105) $(119) $(155) $(134) $(77) $(41) $(66) $(72) $(65) $(73) $(89) Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Beginning Balance $ 3,082 $ 3,104 $ 3,266 $ 3,461 $ 3,533 $ 3,
Slide 22: Loan Yield Composition
Loan Yield Composition $668M Floating, 6.9% Fixed, 26.4% 8.24% Floating or 6.98% $466M $466M Adjustable, 6.67% 73.6% $386M 6.89% 6.64% $363M 5.07% Adjustable, 66.7% 4.35% $268M $247M $2.6 billion, or 66.7%, of total loans held for investment as of September 30, 2025 are adjustable rate loans. $363 m
Slide 23: Asset Quality
Asset Quality 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 – Monito
Slide 24: Allocation of Allowance for Credit Losses
Allocation of Allowance for Credit Losses (dollars in thousands) December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 % of Loans % of Loans % of Loans % of Loans % of % of % of % of Allowance for Credit Losses Amount to Total Amount to Total Amount to Total Amount to Total Total Total T
Slide 25: Risk Grade Migration
Risk Grade Migration Classified Loans (Loans Rated Substandard or Doubtful) (dollars in thousands) 2023 2024 Q1 2025 Q2 2025 Q3 2025 Real estate: Commercial $ 1,892 $ 2,587 $ 3,653 $ 4,170 $ 18,446 Commercial land and development — — — — — Commercial construction — — — — — Residential construction —
Slide 26: Deposit and Capital Overview
Deposit and Capital Overview Third Quarter 2025 Investor Presentation | 26
Slide 27: Strong Deposit Growth
Strong Deposit Growth $4.1B $3.9B $3.7B CAGR (1) 5 years $626M $3.6B Total Deposits 19.17 % $772M $801M $309M $3.0B $670M $2.8B $292M $467M $315M $296M $343M $1,059M Money Market & Savings $2.3B $320M $240M $1,004M Non-Interest-Bearing Demand $104M $934M $279M $923M Interest-Bearing Transaction $1.8
Slide 28: Diversified Funding
Diversified Funding Liability Mix(1) Loan(2) to Deposit Ratio 100.7% 102.2% 99.4% 97.0% 96.5% 94.7% 84.5% 85.1% Non-Interest- Bearing Demand, 25.2% Money Market, 46.7% Time Deposits, 14.9% 2020 2021 2022 2023 2024 Q1 2025 Q2 2025 Q3 2025 Non-Interest-Bearing Deposits to Total Deposits 39.3% 39.5% In
Slide 29: Deposit Composition
Deposit Composition Total Deposits by Relationship Size Total Deposits by Market Vertical Local Agency Breakout Commercial (1) Real Estate & Other, Construction, Local Agency 16.43% 15.72% Depositors,(2) Small to Medium Sized Relationships 21.65% Business, 9.97% ≤ $5 million, 39.86% Relationships (2
Slide 30: Capital Ratios
Capital Ratios Tier 1 Leverage Ratio Common Equity Tier 1 to RWA 10.05% 11.44% 11.02% 9.47% 9.78% 10.77% 8.60% 8.73% 8.98% 8.99% 9.07% 6.58% 2020 2021 2022 2023 2024 Q3 2025 2020 2021 2022 2023 2024 Q3 2025 Tier 1 Capital to RWA Total Capital to RWA 11.44% 11.02% 13.98% 13.99% 13.59% 10.77% 12.18% 1
Slide 31: We strive to become the top business bank in all markets we serve
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 exceed
Slide 32: Appendix: Non-GAAP Reconciliation (Unaudited)
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 supplemen
Slide 33: Appendix: Non-GAAP Reconciliation (Unaudited)
Appendix: Non-GAAP Reconciliation (Unaudited) (dollars in thousands) Year ended Three months ended Average loan yield, excluding PPP loans 12/31/20 12/31/21 12/31/22 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 Interest and fee income on loans $ 71,405 $ 78,894 $ 111,795 $ 162,7