FIVE STAR BANCORP
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
FSBC$44.20-0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| (in thousands) | 2024 | 2023 |
| Cash flows from operating activities: | ||
| Net income | $32,354 | $36,935 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Provision for credit losses | 5,650 | 3,200 |
| Depreciation and amortization | 1,407 | 1,227 |
| Amortization of deferred loan fees and costs | (272) | 125 |
| Amortization of premiums and discounts on securities | 721 | 886 |
| Amortization of subordinated note issuance costs | 109 | 107 |
| Stock compensation expense | 876 | 723 |
| Earnings on BOLI | (462) | (355) |
| Deferred tax provision | 24 | 79 |
| Loans originated for sale | (19,358) | (39,915) |
| Gain on sale of loans | (1,124) | (1,635) |
| Gross proceeds from sale of loans | 17,572 | 32,224 |
| Gain on partial sale of equity investment | (242) | (1,274) |
| Net changes in: | ||
| Interest receivable and other assets | 1,459 | (5,523) |
| Interest payable and other liabilities | (4,195) | 14,457 |
| Operating lease liability | (727) | (714) |
| Net cash provided by operating activities | 33,792 | 40,547 |
| Cash flows from investing activities: | ||
| Maturities, prepayments, and calls of securities available-for-sale | 6,370 | 8,134 |
| Capital call for equity investment | (2,802) | — |
| Proceeds received from equity investment | 530 | — |
| Low income housing tax credits | (10,559) | — |
| Net change in time deposits in banks | 1,740 | 2,878 |
| Loan originations, net of repayments | (369,697) | (212,137) |
| Purchase of premises and equipment | (522) | (470) |
| Purchase of FHLB stock | — | (4,110) |
| Purchase of BOLI | (1,550) | (2,000) |
| Net cash used in investing activities | (376,490) | (207,705) |
| Cash flows from financing activities: | ||
| Net change in deposits | 373,083 | 250,206 |
| Proceeds from issuance of stock, net of issuance costs | 80,870 | — |
| Payments on other borrowings | (170,000) | (10,000) |
| Cash dividends paid | (11,979) | (9,491) |
| Net cash provided by financing activities | 271,974 | 230,715 |
| Net change in cash and cash equivalents | (70,724) | 63,557 |
| Cash and cash equivalents at beginning of period | 321,576 | 259,991 |
| Cash and cash equivalents at end of period | $250,852 | $323,548 |
| Supplemental disclosure of cash flow information: | ||
| Interest paid | $65,223 | $43,817 |
| Income taxes paid | 11,388 | 1,480 |
| Supplemental disclosure of noncash items: | ||
| Transfer from loans held for sale to loans held for investment | 11,464 | 9,416 |
| Unrealized gain (loss) on securities | 2,889 | (3,516) |
| Operating lease liabilities exchanged for ROUA | 2,225 | 1,513 |
| ROUA acquired | (2,225) | (1,534) |
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