Five Star Bancorp Q2 net income $12.7M ($0.74 EPS), down 3.3% QoQ, NIM compresses to 3.45%

FIVE STAR BANCORP

2023-Q2 EPS reported $1.51

Net income $12.7M, down 3.3% sequentially from $13.2M; diluted EPS $0.74 vs $0.77 prior quarter.
Net interest margin fell to 3.45% from 3.75% in Q1, driven by higher deposit costs (cost of funds 2.04% vs 1.53%).
Loans held for investment grew 2.01% sequentially to $2.93B; deposits increased 0.32% with non-brokered deposits up 0.89%.
Non-interest income jumped to $2.8M from $1.4M, including $1.3M gain from venture-backed fund distributions.
Board declared $0.20/share cash dividend (unchanged); nonperforming loans remained 0.01% of loans.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FIVE STAR BANCORP reported the quarter ended June 30, 2023 results: net income net income of $12.7 million, EPS $0.74.

Period: the quarter ended June 30, 2023
Net income: net income of $12.7 million
EPS: $0.74
Result: reported results

Exact text from the filing

Five Star Bancorp (Nasdaq: FSBC) (the “Company” or “Five Star”), the holding company for Five Star Bank (the “Bank”), today reported net income of $12.7 million for the three months ended June 30, 2023

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Source: SEC EDGAR

accession 0001275168-23-000114

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