Five Star Bancorp Q3 profit rises on strong loan growth, wider interest margin
FSBC•Five Star Bancorp reported third-quarter net income of $21.91 million and EPS of $0.92, both higher year over year and sequentially. Net interest income was $50.93 million, net interest margin was 3.69%, and the company completed a $130 million public offering and raised its quarterly dividend by $0.05 per share.
1. Quarterly results
Five Star Bancorp said third-quarter net income and EPS rose year over year and sequentially, to $21.91 million and $0.92, respectively. Net interest income was $50.93 million, and net interest margin was 3.69%.
2. Growth and capital
The company said growth in higher-yielding loans lifted net interest income and margin. Lower deposit funding costs following Federal Reserve rate cuts supported year-over-year margin expansion, while disciplined expense management improved the efficiency ratio. Five Star completed a $130 million public offering and raised its quarterly dividend by $0.05 per share.
3. No specific guidance
The company did not provide specific financial guidance for the current quarter or full year in its press release.
