FIVE STAR BANCORP

For the period ended Sep 30, 2026. Filed Nov 5, 2026.

About this filing

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, 2026 · Filed Nov 5, 2026

FSBC$44.20-0.2%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows

	Nine Months Ended September 30,
(in thousands)	2026	2025
Cash flows from operating activities:
Net income	$59,929	$43,963
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	7,425	6,900
Depreciation and amortization	1,757	(50)
Amortization of deferred loan fees and costs	88	370
Amortization of premiums and discounts on securities	572	609
Amortization of subordinated note issuance costs	109	109
Amortization of low income housing tax credits	1,721	1,239
Stock compensation expense	1,500	1,040
Earnings on BOLI	(760)	(590)
Deferred tax provision	22	722
Purchase of transferable tax credits	(5,258)	—
Loans originated for sale	—	(1,384)
Gain on sale of loans	—	(244)
Gross proceeds from sale of loans	—	3,531
Earnings on equity investments	(26)	(845)
Net changes in:
Interest receivable and other assets	(1,647)	(3,982)
Interest payable and other liabilities	4,854	62
Operating lease liability	(1,083)	605
Net cash provided by operating activities	69,203	52,055
Cash flows from investing activities:
Maturities, prepayments, and calls of securities available-for-sale	7,910	7,574
Purchases of securities available-for-sale	—	(1,030)
Capital call for equity investments	(3,835)	(1,638)
Proceeds received from equity investments	480	283
Capital call for low income housing tax credits	(812)	(5,381)
Net change in time deposits in banks	100	4,021
Loan originations, net of repayments	(631,642)	(356,230)
Purchase of premises and equipment, net	(1,057)	(559)
Purchase of BOLI	(4,359)	(3,710)
Other real estate sale proceeds	—	87
Net cash used in investing activities	(633,215)	(356,583)
Cash flows from financing activities:
Net change in deposits	623,444	545,444
Proceeds from issuance of stock, net of issuance costs	130,021	—
Cash dividends paid	(16,822)	(12,812)
Net cash provided by financing activities	736,643	532,632
Net change in cash and cash equivalents	172,631	228,104
Cash and cash equivalents at beginning of period	506,851	352,343
Cash and cash equivalents at end of period	$679,482	$580,447

	Nine Months Ended September 30,
(in thousands)	2026	2025
Supplemental disclosure of cash flow information:
Interest paid	$79,974	$71,925
US Federal	—
US Federal - IRC 45X Tax Credits2	5,258
US State and Local
California	7,050
Other states	1,703
Total	14,011	18,011
Supplemental disclosure of noncash items:
Transfer from loans held for sale to loans held for investment	—	1,344
Unrealized (loss) gain on securities	(4,250)	4,063
Operating lease liabilities exchanged for ROUA	1,137	2,970
ROUA acquired	(1,015)	(2,970)
Change in commitment for low income housing tax credits	10,000	(10,000)

1 Income taxes are presented by significant jurisdictions beginning in 2026 as required by ASU No. 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures (“ASU 2023-09”). This standard has been applied on a prospective basis.

2 These credits were acquired from a third-party seller in lieu of a direct payment to the US federal taxing authority and are treated as a tax payment for federal income tax purposes. The cash outflow associated with the purchase of these transferable tax credits is also reflected as a reduction within operating activities in the Consolidated Statements of Cash Flows.

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