Slide 1: Investor Presentation First Quarter 2026
Investor Presentation FIRST QUARTER 2026
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 First Quarter 2026 Investor Presentation | 3
Slide 4: Company Overview
Company Overview First Quarter 2026 Investor Presentation | 4
Slide 5: Company Overview
Company Overview Nasdaq: FSBC Headquarters: Rancho Cordova, CA Asset Size: $5.0 billion Loans HFI: $4.2 billion Deposits: $4.5 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 6: 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 7: Recent Awards and Rankings
Recent Awards and Rankings FIVE STAR BANK AWARDS AND RANKINGS BANK EXECUTIVE AND EMPLOYEE AWARDS S&P Global Market Intelligence SACRAMENTO BUSINESS JOURNAL 40 Under 40 2025 | TOP 3 BEST-PERFORMING COMMUNITY BANKS IN THE NATION Power 100 List (Banks with $3B - $10B in Assets) C-Suite Award Champions
Slide 8: Financial Highlights
Financial Highlights First Quarter 2026 Investor Presentation | 8
Slide 9: Financial Highlights - March 31, 2026
Financial Highlights - March 31, 2026 • Continued balance sheet growth with increases in loans held for investment of $138.5 million Growth and non-wholesale(1) deposits of $350.2 million since December 31, 2025. • Non-interest-bearing deposits comprised 27.58% of total deposits, as compared to 25.8
Slide 10: Financial Highlights
Financial Highlights (dollars in thousands, except per share data) For the three months ended 3/31/2026 12/31/2025 3/31/2025 Net income $ 18,621 $ 17,643 $ 13,111 Return on average assets ("ROAA") 1.55 % 1.50 % 1.30 % Profitability Return on average equity ("ROAE") 16.73 % 15.97 % 13.28 % Earnings p
Slide 11: Consistent and Organic Asset Growth
Consistent and Organic Asset Growth CAGR (1) 5 years 10 years $5,032 $4,755 Total Assets 17.27% 21.35% $4,053 $3,593 $3,227 $2,557 $22 $1,954 $148 $1,480 $1,272 $973 $2,535 $840 $1,806 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q1 2026 (2) Total Assets Excluding PPP Loans PPP Loans Note: Doll
Slide 12: Earnings Track Record
Earnings Track Record $30.0M $1.20 $27.7M $25.8M $24.7M $25.0M $25.0M $1.00 $22.6M $23.0M $22.2M $20.3M $20.1M Quarterly Earnings per Share $20.0M $0.87 $0.80 $18.4M $0.83 Earnings (in Millions) $0.77 $0.68 $15.0M $0.60 $0.62 $10.0M $0.40 $5.0M $0.20 $0.0M $0.00 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 20
Slide 13: Operating Metrics
Operating Metrics Net Interest Margin Efficiency Ratio 43.19% 3.70% 40.35% 41.03% 38.57% 3.55% 3.42% 3.32% 2023 2024 2025 2026 YTD 2023 2024 2025 2026 YTD Note: All 2026 figures are through March 31, 2026. First Quarter 2026 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 3/31/2026 12/31/2025 3/31/2025 Service charges on deposit accounts $ 135 $ 159 $ 215 Gain on sale of loans — — 125 Loan-related fees 1,265 557 448 Non-interest FHLB stock dividends 762 332 331 Income Earning
Slide 15: Shareholder Returns
Shareholder Returns ROAA ROAE 1.55% 17.85% 1.44% 1.41% 16.73% 1.23% 14.74% 12.72% 2023 2024 2025 2026 YTD 2023 2024 2025 2026 YTD Cash Dividend Payout Ratio on Common Stock(1) Value per Share (book and tangible book(2)) $20.87 $21.45 35.45% $18.60 28.74% $16.56 26.98% 27.59% 2023 2024 2025 2026 YTD
Slide 16: Loans and Credit Quality
Loans and Credit Quality First Quarter 2026 Investor Presentation | 16
Slide 17: Consistent Loan Growth
Consistent Loan Growth 4,500 CAGR (1) 5 years 4,000 $4,213 Total Loans 20.10% $4,075 3,500 $3,533 Total Loans Held for Investment (Millions) 3,000 6.08% 6.07% $3,082 $2,791 5.89% 2,500 2,000 $22 5.52% $1,912 1,500 1,000 4.82% 4.75% 500 4.70% 4.73% 0 2021 2022 2023 2024 2025 Q1 2026 (2) Non-PPP Loans
Slide 18: Loan Portfolio Composition
Loan Portfolio Composition (1) Other, 0.48% Types of collateral securing Loan Balance # of commercial real estate % of CRE ($000s) Loans Consumer and ("CRE") loans other, 6.54% Manufactured home $ 1,038,707 475 30.35 % community Commercial RV Park 436,123 136 12.75 % unsecured, 1.00% Retail 341,234
Slide 19: CRE Collateral Values
CRE Collateral Values $2,250M 60.21% 58.97% $2,000M $1,841M 55.72% 54.81% 53.74% 53.25% 53.69% $1,750M 51.31% $1,500M 46.51% $1,250M $1,039M Loan Balance $992M $1,000M Collateral Value $789M $750M $721M $683M Weighted Average LTV $550M $529M $500M $436M $473M $474M Total CRE Weighted $390M Average L
Slide 20: Loan Portfolio Diversification
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,
Slide 21: Loan Rollforward
Loan Rollforward $452 $389 $353 $319 $259 Originations & Advances Paydowns Payoffs $(105) $(119) $(134) $(145) $(183) $(66) $(65) $(89) $(119) $(68) Loans Held for Investment 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,
Slide 22: Loan Yield Composition
Loan Yield Composition Floating, $648M $656M 6.0% $624M Fixed, 7.54% 25.1% 6.83% 6.64% 6.56% 6.35% Floating or $457M Adjustable, 74.9% 5.42% 5.05% $363M Adjustable, 68.9% $254M $158M $3 billion, or 68.9%, of total loans held for investment as of March 31, 2026 are adjustable rate loans. $648 million
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, 2025 March 31, 2026 % of Loans % of Loans % of % of Allowance for Credit Losses Amount to Total Amount to Total Total Total Loans Loans Real estate: Commercial $ 25,219 56.77 % 81.08 % $ 26,919 57.96 % 81.17 % Commercial l
Slide 25: Risk Grade Migration
Risk Grade Migration 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 — — — C
Slide 26: Deposit and Capital Overview
Deposit and Capital Overview First Quarter 2026 Investor Presentation | 26
Slide 27: Strong Deposit Growth
Strong Deposit Growth $4.5B $4.2B CAGR (1) 5 years $454M Total Deposits 17.09% $555M $349M $3.6B $344M $3.0B $670M $1,233M $2.8B Money Market & Savings $467M $315M $1,085M $343M Non-Interest-Bearing $2.3B $240M $320M Interest-Bearing Transaction $104M $279M $923M Time Deposits Total Number of Accoun
Slide 28: Diversified Funding
Diversified Funding Liability Mix(1) Loan(2) to Deposit Ratio 100.7% 102.2% 99.4% 97.0% 94.3% 85.1% Non-Interest- Bearing, 27.0% Money Market, 50.1% Time Deposits, 9.9% 2021 2022 2023 2024 2025 Q1 2026 Non-Interest-Bearing Deposits to Total Deposits Interest-Bearing 39.5% Transaction, 7.6% 34.9% Oth
Slide 29: Deposit Composition
Deposit Composition Total Deposits by Relationship Size Total Deposits by Market Vertical Local Agency Breakout (1) Commercial Other, Real Estate & 12.07% Professional Service Local Agency Construction, Practice, 8.85% Depositors,(2) Relationships 17.24% 26.33% ≤ $5 million, Small to Medium 39.33% S
Slide 30: Capital Ratios
Capital Ratios Tier 1 Leverage Ratio Common Equity Tier 1 to RWA 10.05% 11.44% 11.02% 9.47% 9.70% 9.56% 10.58% 10.45% 8.60% 8.73% 8.99% 9.07% 2021 2022 2023 2024 2025 Q1 2026 2021 2022 2023 2024 2025 Q1 2026 Tier 1 Capital to RWA Total Capital to RWA 11.44% 11.02% 13.98% 13.99% 10.58% 10.45% 13.33%
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 12/31/21 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 $ 5