Slide 1: Investor Presentation Third Quarter 2025
* * & FIVE STAR BANCORP ke 25 ANNIVERSARY Investor Presentation 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 Third Quarter 2025 Investor Presentation | 3 •Company Overview •Financial Highlights •Loans and Credit Quality •Deposit and Capital Overview
Slide 4: Company Overview
Company Overview Third Quarter 2025 Investor Presentation | 4
Slide 5: Executive Team
Executive Team Third Quarter 2025 Investor Presentation | 5 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 Micha
Slide 6: Company Overview
Company Overview Nasdaq: Headquarters: Asset Size: Loans HFI: Deposits: Bank Branches: Third Quarter 2025 Investor Presentation | 6 FSBC Rancho Cordova, CA $4.6 billion $3.9 billion $4.1 billion 9 Note: Balances are as of September 30, 2025. References to loans HFI are loans held for investment. Fiv
Slide 7: 2025 Awards & Rankings
2025 Awards & Rankings Third Quarter 2025 Investor Presentation | 7 BANK EXECUTIVE & EMPLOYEE AWARDS 40 Under 40 Newsmaker 100 List 2024 | 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) Power 100 List C-Suite
Slide 8: Financial Highlights
Financial Highlights Third Quarter 2025 Investor Presentation | 8
Slide 9: Financial Highlights
Financial Highlights Third Quarter 2025 Investor Presentation | 9 (dollars in thousands, except per share data) For the three months ended 9/30/2025 6/30/2025 9/30/2024 Profitability Net income $ 16,344 $ 14,508 $ 10,941 Return on average assets (ROAA) 1.44 % 1.37 % 1.18 % Return on average equity (
Slide 10: Financial Highlights - September 30, 2025
Financial Highlights - September 30, 2025 Third Quarter 2025 Investor Presentation | 10 Growth • Continued balance sheet growth with increases in loans held for investment of $129.2 million and non-wholesale(1) deposits of $359.0 million since June 30, 2025. Funding • Non-interest-bearing deposits c
Slide 11: Consistent and Organic Asset Growth
$811 $840 $973 $1,272 $1,480 $1,954 $2,557 $3,227 $3,593 $4,053 $4,642 $1,806 $2,535 $148 $22 Total Assets Excluding PPP Loans PPP Loans 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q3 2025 Consistent and Organic Asset Growth Third Quarter 2025 Investor Presentation | 11 Note: Dollars are in mi
Slide 12: Earnings Track Record
Earnings Track Record Third Quarter 2025 Investor Presentation | 12 Ea rn in gs (i n M ill io ns ) Q uarterly Earnings per Share $15.9M $17.2M $18.0M $20.7M $20.3M $22.6M $24.7M $15.0M $15.2M $15.2M $19.4M $18.4M $20.1M $22.2M $0.62 $0.51 $0.52 $0.63 $0.62 $0.68 $0.77 Pre-tax, pre-provision income P
Slide 13: Operating Metrics
Operating Metrics Third Quarter 2025 Investor Presentation | 13 Efficiency RatioNet Interest Margin 3.75% 3.42% 3.32% 3.52% 2022 2023 2024 2025 YTD 36.90% 40.35% 43.19% 41.18% 2022 2023 2024 2025 YTD Note: All 2025 figures are through September 30, 2025.
Slide 14: Non-interest Income and Expense Comparison
Non-interest Income and Expense Comparison Third Quarter 2025 Investor Presentation | 14 (dollars in thousands) For the three months ended 9/30/2025 6/30/2025 9/30/2024 Non-interest Income Service charges on deposit accounts $ 185 $ 196 $ 165 Gain on sale of loans — 119 306 Loan-related fees 683 468
Slide 15: Shareholder Returns
Shareholder Returns Third Quarter 2025 Investor Presentation | 15 ROAA ROAE Value per Share (book and tangible book(2)) Note: All 2025 figures are through September 30, 2025. 1. Cash dividend payout ratio on common stock is calculated as dividends on common shares divided by basic earnings per commo
Slide 16: Loans and Credit Quality
Loans and Credit Quality Third Quarter 2025 Investor Presentation | 16
Slide 17: Consistent Loan Growth
To ta l L oa ns (M ill io ns ) $1,355 $1,912 $2,791 $3,082 $3,104 $3,266 $3,461 $3,533 $3,622 $3,758 $3,887 $148 $22 4.96% 4.82% 4.75% 5.52% 5.71% 5.83% 5.98% 6.01% 6.02% 6.09% 6.14% Non-PPP Loans PPP Loans Average Loan Yield Average Loan Yield Excluding PPP Loans 2020 2021 2022 2023 Q1 2024 Q2 2024
Slide 18: Loan Portfolio Composition
Commercial real estate, 80.86% Commercial construction, 3.52% Residential construction, 0.15% Residential, 0.92% Farmland, 1.48% Commercial land and development, 0.02% Secured, 4.91% Unsecured, 0.99% Consumer and other, 7.15% Loan Portfolio Composition Third Quarter 2025 Investor Presentation | 18 T
Slide 19: CRE Collateral Values
$980M $384M $304M $244M $241M $190M $189M $161M $450M $1,732M $694M $623M $556M $521M $382M $507M $375M $949M 60.68% 58.91% 55.15% 51.59% 52.79% 56.39% 46.51% 52.25% 55.01% Loan Balance Collateral Value Weighted Average LTV Manufactured home community RV Park Retail Industrial Multifamily Mini stora
Slide 20: Loan Portfolio Diversification
CA, 57.3% TX, 7.5% NC, 3.2% FL, 2.8% AZ, 2.4% OR, 2.4% NV, 2.0%TN, 1.9%GA, 1.7%WA, 1.6% CO, 1.2% PA, 1.1% WI, 1.1% MO, 1.1% Other, 12.7% CML Term CRE NOO, 34.6% CML Term Multifamily, 31.4% CML Term CRE OO, 14.5% CSM Unsecured, 7.0% CML Const CRE, 3.5% CML Secured, 3.4%CML Term Ag RE, 1.5% Others, 4.
Slide 21: Loan Rollforward
Loan Rollforward Third Quarter 2025 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. $150 $390 $334 $263 $259 $319 $353 $(51) $(155) $(99) $(119
Slide 22: Loan Yield Composition
Loan Yield Composition Third Quarter 2025 Investor Presentation | 22Note: Dollars are in millions. Balances are net book value as of September 30, 2025, before allowance for credit losses and deferred loan fees. Weighted average rates are as of September 30, 2025 and based upon outstanding principal
Slide 23: Asset Quality
1.48% 1.20% 1.02% 1.12% 1.07% 1.08% 1.07% 1.08% 0.12% 0.04% 0.07% 0.11% 0.12% 0.02% 0.04% 0.02% Allowance for Credit Losses to Loans HFI Net Charge-offs to Average Loans HFI 2020 2021 2022 2023 2024 Q1 2025 Q2 2025 Q3 2025 Asset Quality Third Quarter 2025 Investor Presentation | 23 Nonperforming Loa
Slide 24: Allocation of Allowance for Credit Losses
Allocation of Allowance for Credit Losses Third Quarter 2025 Investor Presentation | 24 (dollars in thousands) December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 Allowance for Credit Losses Amount % of Total % of Loans to Total Loans Amount % of Total % of Loans to Total Loans Amount
Slide 25: Risk Grade Migration
Risk Grade Migration Third Quarter 2025 Investor Presentation | 25 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 con
Slide 26: Deposit and Capital Overview
Deposit and Capital Overview Third Quarter 2025 Investor Presentation | 26
Slide 27: Strong Deposit Growth
$1.8B $2.3B $2.8B $3.0B $3.6B $3.7B $3.9B $4.1B $889M $1,001M $1,228M $1,409M $1,650M $1,706M $1,826M $2,110M $701M $902M $971M $831M $923M $934M $1,004M $1,059M $146M $279M $240M $320M $315M $296M $292M $309M $104M $343M $467M $670M $801M $772M $626M 7,124 8,162 9,832 11,855 13,500 14,041 14,562 14
Slide 28: Diversified Funding
Diversified Funding Third Quarter 2025 Investor Presentation | 28 Total Deposits(1) = $4.1 billion 97.5% of Total Liabilities Liability Mix(1) 1. Balances are as of September 30, 2025. 2. Loan balance in loan to deposit ratio is total loans held for investment and sale at period end. Loan(2) to Depo
Slide 29: Deposit Composition
Government, 21.72% Other, 16.43% Commercial Real Estate & Construction, 15.72% Small to Medium Sized Business, 9.97% Professional Service Practice, 8.92% Non-profit, 7.63% Manufactured Home Community, 6.46% Healthcare & Practice, 6.46%Agriculture & Ag Tech, 2.48% Faith-based, 2.01% Venture Banking,
Slide 30: Capital Ratios
Capital Ratios Third Quarter 2025 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. 6.58% 9.47% 8.60% 8.73% 10.05% 9.78% 2020 2021 2022 2023 2024 Q3 2025 8.98% 11.44% 8.99% 9.07% 1
Slide 31: Mission and Community Support
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) Third Quarter 2025 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 9/30/2025 Total assets $ 1,954 $ 2,557 $ 3,227 $ 3,593 $ 4,053 $ 4,642 Less: PPP loans 148