Five Star Bancorp | Stephens

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Five Star Bancorp

$75 Million 03/28/2024 Financial Institutions Complete
Public Companies
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Transaction Details

  • On March 28, 2024, Five Star Bancorp (NASDAQ: FSBC) (“Five Star” or the “Company”), the holding company for Five Star Bank, announced the pricing of an underwritten public offering of 3,450,000 shares of its common stock at a public offering price of $21.75 per share
    • The offering consisted of 100% primary shares offered by Five Star
    • Five Star also granted the underwriters a 30-day option to purchase up to an additional 517,500 shares of its common stock at the public offering price
  • Five Star intends to use the net proceeds from the offering for general corporate purposes and to support its continued growth, including investments in the Bank to pursue growth opportunities, and for working capital

About the company

Headquartered in the greater Sacramento metropolitan area of California, Five Star Bancorp is a bank holding company that operates through its wholly owned subsidiary, Five Star Bank, a California state-chartered non-member bank. Five Star provides a broad range of banking products and services to small and medium-sized businesses, professionals, and individuals primarily in Northern California through seven branch offices. Five Star expects to open a full-service branch in downtown San Francisco in the second half of 2024. Five Star’s mission is to strive to become the top business bank in all markets it serves through exceptional service, deep connectivity, and customer empathy. Five Star is dedicated to serving real estate, agricultural, faith-based, and small to medium-sized enterprises. Five Star aims to consistently deliver value that meets or exceeds the expectations of its shareholders, customers, employees, business partners, and community. Five Star refers to its mission as “purpose-driven and integrity-centered banking.” As of December 31, 2023, Five Star had total assets of $3.6 billion, total loans held for investment, net of allowance for credit losses, of $3.0 billion, and total deposits of $3.0 billion.

Sources: Company filings and press release.
  1. This material has been prepared solely for informative purposes as of its date of preparation. It is not a solicitation, recommendation or offer to buy or sell any security and does not provide information on which an investment decision to purchase or sell any securities could be based. It does not purport to be a complete description of the securities, markets or developments referred to in the material. Information included in the material was obtained from sources that we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. No subsequent publication or distribution of this material shall mean or imply that any such information remains current at any time after the date of preparation of the material. We do not undertake to advise you of any changes in any such information or opinion. Additional information is available upon request.

    The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Stephens Inc.’s Equity Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR 72201, ATTN: Equity Syndicate Desk, or from the Securities and Exchange Commission’s website at at the following
    link: A registration statement relating to these securities has been filed with the Securities and Exchange Commission. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.

    “Stephens” (the company brand name) is a leading family-owned investment firm that includes Stephens Inc. (member NYSE/SIPC), Stephens Investment Management Group, LLC, Stephens Insurance, LLC, Stephens Capital Partners LLC and Stephens Europe Limited (Registered office: 12 Arthur Street, London, EC4R 9AB, Registered number 8817024), which is authorised and regulated by the Financial Conduct Authority. © 2024 Stephens

    For a printable version of this announcement, click here.