Five Star Bancorp Q2 net income $10.8M, EPS $0.51; loan growth 20% annualized; NIM up to 3.39%

FIVE STAR BANCORP

2024-Q2 EPS reported $1.12

Net income $10.8M vs $10.6M Q1 and $12.7M YoY; diluted EPS $0.51 vs $0.62 Q1 and $0.74 YoY.
Net interest margin expanded 25bp to 3.39% from 3.14% Q1; net interest income $29.1M up 8.78% QoQ.
Loans held for investment grew $162.2M (5.22%) to $3.27B; total deposits up $193.9M (6.56%).
Completed public offering of 3.97M shares at $21.75, net proceeds ~$80.9M; CET1 ratio 11.28% (vs 9.13% Q1).
Declared Q2 cash dividend $0.20 per share, payable Aug 12, 2024; no short-term borrowings at quarter end.

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