Five Star Bancorp slides after Q2 results, stock offering launch
FSBC•Stock offering details
FSBC launched a stock offering for general purposes, to support growth, and for working capital.
KBW is sole bookrunner.
FSBC has about 21.4 million shares outstanding for a market cap of about $1 billion.
The stock closed down 1.9% at $48.37 on Wednesday, up 35% year to date.
Shares fall after Q2 results and equity raise launch
Regional bank Five Star Bancorp's FSBC.O shares were down 6% to $45.46 in extended trading as it seeks an equity raise after its second-quarter report.
Rancho Cordova, California-based FSBC said net interest income rose by $2.6 million quarter over quarter to $46.1 million, primarily due to an increase in interest income driven by loan growth and higher interest-earning deposits in banks.
Net interest margin fell slightly to 3.63% in the quarter from 3.70% last quarter.
