Slide 1: Five Star Bancorp Fourth Quarter 2025 Investor Presentation
* rt FIVE STAR BANCORP 2 — Investor Presentation ANNIVERSARY Fourth 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 • Financial Results Fourth Quarter 2025 Investor Presentation | 3
Slide 4: Company Overview
Company Overview Fourth 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: $4.8 billion Loans HFI: $4.1 billion Deposits: $4.2 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 and Rankings
2025 Awards and Rankings FIVE STAR BANK AWARDS AND RANKINGS BANK EXECUTIVE AND EMPLOYEE AWARDS S&P Global Market Intelligence SACRAMENTO BUSINESS JOURNAL Power 100 List 2024 | TOP 3 BEST-PERFORMING COMMUNITY BANKS IN THE NATION C-Suite Award (Banks with $3B - $10B in Assets) Champions for DE&I Women
Slide 8: Financial Highlights
Financial Highlights Fourth Quarter 2025 Investor Presentation | 8
Slide 9: Financial Highlights
Financial Highlights (dollars in thousands, except per share data) For the three months ended For the year ended 12/31/2025 9/30/2025 12/31/2024 12/31/2025 12/31/2024 Net income $ 17,643 $ 16,344 $ 13,317 $ 61,606 $ 45,671 Return on average assets ("ROAA") 1.50 % 1.44 % 1.31 % 1.41 % 1.23 % Profitab
Slide 10: Financial Highlights - December 31, 2025
Financial Highlights - December 31, 2025 • Continued balance sheet growth with increases in loans held for investment of $542.2 million and Growth increases in non-wholesale(1) deposits of $738.1 million since December 31, 2024. • Non-interest-bearing deposits comprised 25.82% of total deposits, com
Slide 11: Consistent and Organic Asset Growth
Consistent and Organic Asset Growth $4,755 CAGR (1) 5 years 10 years $4,053 Total Assets 19.47% 19.34% $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 2025 (2) Total Assets Excluding PPP Loans PPP Loans Note: Dollars a
Slide 12: Earnings Track Record
Earnings Track Record Quarterly Trend of Pre-Tax, Pre-Provision Income(1) Annual Trend $100.0M $5.00 $30.0M $1.20 $93.4M $25.8M $83.7M $24.7M $25.0M $1.00 $80.0M $4.00 $22.6M $70.6M $71.7M $20.7M $20.3M $66.6M $64.7M Quarterly Earnings per Share Annual Earnings per Share $20.0M $0.80 $0.83 Earnings
Slide 13: Operating Metrics
Operating Metrics Net Interest Margin Efficiency Ratio 3.55% 43.19% 40.35% 41.03% 3.42% 3.32% 2023 2024 2025 2023 2024 2025 Total Income Before Taxes $83.7M $66.6M $64.7M 2023 2024 2025 Note: All 2025 figures are through December 31, 2025. Fourth 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 For the year ended 12/31/2025 9/30/2025 12/31/2024 12/31/2025 12/31/2024 Service charges on deposit accounts $ 159 $ 185 $ 179 $ 755 $ 721 Gain on sale of loans — — 150 244 1,274 Loan-related fees 557 683 40
Slide 15: Shareholder Returns
Shareholder Returns ROAA ROAE 1.44% 1.41% 17.85% 1.23% 14.74% 12.72% 2023 2024 2025 2023 2024 2025 Cash Dividend Payout Ratio on Common Stock(1) Value per Share (book and tangible book(2)) 35.45% $20.87 $18.60 26.98% 27.59% $16.56 2023 2024 2025 2023 2024 2025 Note: All 2025 figures are through Dece
Slide 16: Loans and Credit Quality
Loans and Credit Quality Fourth Quarter 2025 Investor Presentation | 16
Slide 17: Consistent Loan Growth
Consistent Loan Growth Quarterly Trend Annual Trend 4,500 4,500 CAGR (1) 5 years 4,000 4,000 $4,075 Total Loans 22.07% $4,075 $3,887 $3,758 Total Loans Held for Investment (Millions) Total Loans Held for Investment (Millions) 3,500 $3,622 3,500 $3,461 $3,533 $3,533 $3,266 6.09% 6.14% 6.09% 3,000 3,0
Slide 18: Loan Portfolio Composition
Loan Portfolio Composition Types of collateral securing Loan Balance # of commercial real estate % of CRE ($000s) Loans Consumer and ("CRE") loans other, 6.77% Manufactured home $ 1,025,386 464 31.02 % community Commercial Unsecured, 0.99% RV Park 412,955 130 12.49 % Commercial Retail 317,536 99 9.6
Slide 19: CRE Collateral Values
CRE Collateral Values $2,250M 60.19% 59.28% $2,000M $1,821M 55.84% 54.51% 54.81% $1,750M 53.41% 51.74% 52.21% $1,500M 47.10% $1,250M Loan Balance $1,025M $1,000M $966M Collateral Value $742M Weighted Average Loan-to-Value $750M $668M $619M $564M $513M $500M $457M Total CRE Weighted Average $413M $38
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 $390 $334 $353 $319 $263 $259 Originations & Advances Paydowns $150 Payoffs $(51) $(99) $(119) $(105) $(119) $(155) $(134) $(145) $(77) $(41) $(66) $(72) $(65) $(73) $(89) $(119) Loans Held for Investment Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Beginning
Slide 22: Loan Yield Composition
Loan Yield Composition $661M $666M Floating, $636M 5.8% 7.54% Fixed, 6.86% 25.7% 6.64% 6.54% Floating or $462M Adjustable, 5.39% 74.3% 5.06% $369M Adjustable, 68.5% $235M $2.8 billion, or 68.5%, of total loans held for investment as of December 31, 2025 are adjustable rate loans. $636 million in adj
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 December 31, 2025 % of Loans % of Loans % of Loans % of Loans % of Loans % of % of % of % of % of Allowance for Credit Losses Amount to Total Amount to Total Amount to T
Slide 25: Risk Grade Migration
Risk Grade Migration Classified Loans (Loans Rated Substandard or Doubtful) (dollars in thousands) 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Real estate: Commercial $ 2,587 $ 3,653 $ 4,170 $ 18,446 $ 21,372 Commercial land and development — — — — — Commercial construction — — — — — Residential constructi
Slide 26: Deposit and Capital Overview
Deposit and Capital Overview Fourth Quarter 2025 Investor Presentation | 26
Slide 27: Strong Deposit Growth
Strong Deposit Growth $4.2B $4.1B $3.9B CAGR (1) 5 years $3.7B $555M $3.6B $626M Total Deposits 18.68% $772M $344M $801M $309M $3.0B $670M $2.8B $292M Money Market & Savings $467M $315M $296M $1,085M $343M $1,059M Non-Interest-Bearing Demand $2.3B $240M $320M $1,004M Interest-Bearing Demand $104M $9
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% 97.0% 84.5% 85.1% Non-Interest- Bearing Demand, 25.2% Money Market, 48.2% Time Deposits, 12.9% 2020 2021 2022 2023 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Non-Interest-Bearing Deposits to Total Deposits
Slide 29: Deposit Composition
Deposit Composition Total Deposits by Relationship Size Total Deposits by Market Vertical Local Agency Breakout Commercial Real Estate & Other,(1) Construction, 14.92% Local Agency 16.22% Depositors,(2) Relationships Small to Medium 23.51% ≤ $5 million, Sized Business, 8.97% 39.10% Relationships Gov
Slide 30: Capital Ratios
Capital Ratios Tier 1 Leverage Ratio Common Equity Tier 1 to RWA 10.05% 9.70% 11.44% 11.02% 9.47% 10.58% 8.60% 8.73% 8.98% 8.99% 9.07% 6.58% 2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025 Tier 1 Capital to RWA Total Capital to RWA 11.44% 11.02% 13.98% 13.99% 13.33% 10.58% 12.18% 12.46%
Slide 31: We strive to become the top business bank
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
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
Appendix: Non-GAAP Reconciliation (Unaudited) (dollars in thousands) Three months ended Year ended Average loan yield, excluding PPP loans 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 Interest and fee income on loans $ 43,786