Five Star Bank

Financial Institutions, Inc. Announces First Quarter 2024 Results

Retrieved on: 
Thursday, April 25, 2024
Benefit, Common equity, Sale, NFP, Common, Federal Reserve, Investment, Nature, Bank, TCE, Tier 1 capital, As a service, Insurance, Financial institution, Risk management, Environment, Computer, Income tax, Risk-weighted asset, Acquisition, Community Reinvestment Act, Loss, Marketing, Bank statement, Five Star Bank, Community, Growth, Earnout, Video game

Net income was $2.1 million in the first quarter of 2024, compared to $9.8 million in the fourth quarter of 2023 and $12.1 million in the first quarter of 2023.

Key Points: 
  • Net income was $2.1 million in the first quarter of 2024, compared to $9.8 million in the fourth quarter of 2023 and $12.1 million in the first quarter of 2023.
  • First quarter 2024 financial results were negatively impacted by the Company's previously disclosed deposit-related fraud event, which was the primary driver of noninterest expense variances from the linked and year-ago periods.
  • Net interest margin was 2.78% in the current quarter and the fourth quarter of 2023, and 3.09% in the first quarter of 2023.
  • The effective tax rate was 14.7% for the first quarter of 2024, 34.5% for the fourth quarter of 2023, and 18.7% for the first quarter of 2023.

Five Star Bancorp Declares First Quarter Cash Dividend

Retrieved on: 
Friday, April 19, 2024
Bank, Five Star Bank

RANCHO CORDOVA, Calif., April 19, 2024 (GLOBE NEWSWIRE) -- Five Star Bancorp (Nasdaq: FSBC) (“Five Star” or the “Company”), a holding company that operates through its wholly owned banking subsidiary, Five Star Bank (the "Bank"), announced today the declaration of a cash dividend of $0.20 per share on the Company’s voting common stock.

Key Points: 
  • RANCHO CORDOVA, Calif., April 19, 2024 (GLOBE NEWSWIRE) -- Five Star Bancorp (Nasdaq: FSBC) (“Five Star” or the “Company”), a holding company that operates through its wholly owned banking subsidiary, Five Star Bank (the "Bank"), announced today the declaration of a cash dividend of $0.20 per share on the Company’s voting common stock.
  • The dividend is expected to be paid on May 13, 2024, to shareholders of record as of May 6, 2024.

Five Star Bancorp Announces First Quarter 2024 Earnings Release Date and Webcast

Retrieved on: 
Tuesday, April 16, 2024
Five Star Bank, Webcast

RANCHO CORDOVA, Calif., April 16, 2024 (GLOBE NEWSWIRE) -- Five Star Bancorp (Nasdaq: FSBC) (“Five Star” or the “Company”), a holding company that operates through its wholly owned banking subsidiary, Five Star Bank (the “Bank”), expects to report its financial results for the quarter ended March 31, 2024, after the stock market closes on Monday, April 29, 2024.

Key Points: 
  • RANCHO CORDOVA, Calif., April 16, 2024 (GLOBE NEWSWIRE) -- Five Star Bancorp (Nasdaq: FSBC) (“Five Star” or the “Company”), a holding company that operates through its wholly owned banking subsidiary, Five Star Bank (the “Bank”), expects to report its financial results for the quarter ended March 31, 2024, after the stock market closes on Monday, April 29, 2024.
  • Management will host a live webcast for analysts and investors to review this information at 1:00 PM ET (10:00 AM PT) on April 30, 2024.
  • The live webcast will be accessible from the “News & Events” section of the Company’s website under “Events” at https://investors.fivestarbank.com/news-events/events.
  • The webcast will be archived on the Company’s website for a period of 90 days.

Five Star Bancorp Announces the Hiring of San Francisco Bay Area Banking Professional and the Full Exercise and Closing of Underwriters’ Option to Purchase Additional Shares in the Company’s Underwritten Public Offering

Retrieved on: 
Wednesday, April 10, 2024
Sale, University, Prospectus, Investment, Star Bank, Economics, Security (finance), Silicon Valley Bank, Signature Bank, Bank of America, Wachovia, Form, Exercise, Senior, Flagstar Bank, California Street, Bank, Keefe, Bruyette & Woods, S-3, Five Star Bank, First Republic Bank, San Francisco Bay, Telephone, Growth, Wells Fargo

Grafeld will help advance Five Star Bank’s expansion strategy in the San Francisco Bay Area with personalized, concierge commercial banking service in Marin County.

Key Points: 
  • Grafeld will help advance Five Star Bank’s expansion strategy in the San Francisco Bay Area with personalized, concierge commercial banking service in Marin County.
  • “Casey Grafeld is an excellent addition to Five Star Bank’s San Francisco Bay Area team of highly experienced commercial banking professionals.
  • Adding Casey to our team exemplifies our commitment to expansion and client service in the San Francisco Bay Area,” said Five Star Bank San Francisco Bay Area Region President, DJ Kurtze.
  • I also am delighted to extend Five Star Bank’s Bay Area presence and personalized commercial banking services to Marin County, where I’ve lived for 25 years,” said Grafeld.

Financial Institutions, Inc. Announces Sale of the Assets of SDN Insurance Agency to NFP

Retrieved on: 
Monday, April 1, 2024
8-K, Financial institution, Five Star Bank, PC, Growth, Form, Bank, Sale, LLP, Security (finance), NFP, Insurance

As part of the transaction, the SDN team joins NFP, including President William E. Gallagher.

Key Points: 
  • As part of the transaction, the SDN team joins NFP, including President William E. Gallagher.
  • “In the nearly 10 years since we entered the insurance space, it has proven to be a valuable line of business that supported revenue diversification.
  • SDN is a full-service insurance agency serving business and personal insurance customers.
  • “In its 100-year history, SDN has established itself as a well-respected partner to commercial and personal insurance customers throughout Western New York,” said Mr. Gallagher.

Five Star Bancorp Announces Pricing of Common Stock Offering

Retrieved on: 
Thursday, March 28, 2024
Five Star Bank, Growth, Communication, Form, Telephone, Keefe, Bruyette & Woods, Bank, Sale, Security (finance), Prospectus, Investment, S-3

RANCHO CORDOVA, Calif., March 28, 2024 (GLOBE NEWSWIRE) -- (March 28, 2024) – Five Star Bancorp (Nasdaq: FSBC) (“Five Star” or the “Company”), a holding company that operates through its wholly owned banking subsidiary, Five Star Bank (the “Bank”), announced today the pricing of the previously announced underwritten public offering of 3,450,000 shares of its common stock at a public offering price of $21.75 per share.

Key Points: 
  • RANCHO CORDOVA, Calif., March 28, 2024 (GLOBE NEWSWIRE) -- (March 28, 2024) – Five Star Bancorp (Nasdaq: FSBC) (“Five Star” or the “Company”), a holding company that operates through its wholly owned banking subsidiary, Five Star Bank (the “Bank”), announced today the pricing of the previously announced underwritten public offering of 3,450,000 shares of its common stock at a public offering price of $21.75 per share.
  • In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 517,500 shares of Company common stock at the public offering price, less underwriting discounts and commissions.
  • Keefe, Bruyette & Woods, A Stifel Company is acting as the bookrunner for the offering.
  • The offering of common stock is being made pursuant to a registration statement on Form S-3 (File No.

Five Star Bancorp Announces Launch of Common Stock Offering

Retrieved on: 
Wednesday, March 27, 2024
Five Star Bank, Growth, Communication, Form, Telephone, Bank, Sale, Security (finance), Prospectus, Investment, Keefe, Bruyette & Woods

RANCHO CORDOVA, Calif., March 27, 2024 (GLOBE NEWSWIRE) -- Five Star Bancorp (Nasdaq: FSBC) (“Five Star” or the “Company”), a holding company that operates through its wholly owned banking subsidiary, Five Star Bank (the “Bank”), announced today that it has launched an underwritten public offering of shares of its common stock.

Key Points: 
  • RANCHO CORDOVA, Calif., March 27, 2024 (GLOBE NEWSWIRE) -- Five Star Bancorp (Nasdaq: FSBC) (“Five Star” or the “Company”), a holding company that operates through its wholly owned banking subsidiary, Five Star Bank (the “Bank”), announced today that it has launched an underwritten public offering of shares of its common stock.
  • The Company intends to grant the underwriters a 30-day option to purchase additional shares of its common stock.
  • Keefe, Bruyette & Woods, A Stifel Company is serving as the bookrunner for the offering, and Stephens Inc. and D.A.
  • The offering of common stock is being made pursuant to a registration statement on Form S-3 (File No.

Financial Institutions, Inc. Schedules First Quarter 2024 Earnings Release and Conference Call

Retrieved on: 
Monday, March 25, 2024
Financial institution, Five Star Bank

WARSAW, N.Y., March 25, 2024 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), the parent company of Five Star Bank, SDN Insurance Agency, LLC, and Courier Capital, LLC, will release results for the first quarter ending March 31, 2024 after the market closes on April 25, 2024.

Key Points: 
  • WARSAW, N.Y., March 25, 2024 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), the parent company of Five Star Bank, SDN Insurance Agency, LLC, and Courier Capital, LLC, will release results for the first quarter ending March 31, 2024 after the market closes on April 25, 2024.
  • Management will host an earnings conference call and audio webcast on April 26, 2024 at 8:30 a.m. Eastern Time.
  • The call will be hosted by Martin K. Birmingham, President and Chief Executive Officer, and W. Jack Plants II, Chief Financial Officer and Treasurer.
  • Within the United States, listeners may also access the call by dialing 1-833-470-1428 and providing the access code 916080.

nCino to Acquire DocFox

Retrieved on: 
Monday, March 18, 2024
Five Star Bank, Professional corporation, Acquisition, Sidley Austin, NCino, Keefe, Bruyette & Woods

WILMINGTON, N.C., March 18, 2024 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, today announced that it has signed a definitive agreement to acquire DocFox, a leading solution provider automating onboarding experiences for commercial and business banking.

Key Points: 
  • WILMINGTON, N.C., March 18, 2024 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, today announced that it has signed a definitive agreement to acquire DocFox, a leading solution provider automating onboarding experiences for commercial and business banking.
  • DocFox has helped institutions condense complicated and admin-intensive onboarding processes from weeks to days or even hours.
  • We are also excited for the access to industry-leading talent, resources, and synergies the acquisition of DocFox by nCino will bring to the business customer onboarding and banking solution space.
  • Keefe, Bruyette & Woods, A Stifel Company served as financial advisor to DocFox and Wilson Sonsini Goodrich & Rosati, Professional Corporation served as legal counsel to DocFox.

Financial Institutions, Inc. Announces 2024 Annual Meeting Date

Retrieved on: 
Thursday, March 14, 2024
Financial institution, Annual general meeting, Five Star Bank, Security (finance)

WARSAW, N.Y., March 14, 2024 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), the parent company of Five Star Bank (the “Bank”), SDN Insurance Agency, LLC and Courier Capital, LLC, today announced that Wednesday, June 5, has been established as the date of its 2024 Annual Meeting of Shareholders.

Key Points: 
  • WARSAW, N.Y., March 14, 2024 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), the parent company of Five Star Bank (the “Bank”), SDN Insurance Agency, LLC and Courier Capital, LLC, today announced that Wednesday, June 5, has been established as the date of its 2024 Annual Meeting of Shareholders.
  • The meeting will be held in a virtual format only, via live webcast, beginning at 10:00 am Eastern Time.
  • The record date for voting at the Annual Meeting will be April 10, 2024.
  • Further details regarding the Annual Meeting, including how to participate, will be included in the Financial Institutions, Inc. Proxy Statement and Notice of Annual Meeting of Shareholders, which is expected to be made available to shareholders and filed with the Securities and Exchange Commission on or about April 12, 2024.