Five Star Bancorp Reports $13.3M Q4 Net Income

Five Star Bancorp reported a net income of $13.3 million for Q4 2024, a significant increase from previous quarters, attributed to growth in loans and deposits, particularly in the San Francisco market. The bank saw a 14.63% rise in loans and a 17.55% increase in deposits throughout 2024, despite a slight annual net income decrease to $45.7 million due to higher non-interest expenses. The company maintained a steady dividend and improved its efficiency ratio while successfully executing its expansion strategy. CEO James E. Beckwith highlighted the bank's achievements, including multiple accolades and a low nonperforming loan rate of 0.05%. Despite facing challenges in year-end results against previous performance, Five Star Bancorp remains optimistic about its growth prospects moving forward. Overall, the bank's robust quarterly performance demonstrates its ability to navigate a competitive landscape while delivering value to shareholders.