2024 Annual Report
fivestarbank.com | nasdaq: fsbc
We’re thrilled to be part of Five Star Bank’s
legacy of service to clients and communities who
rely on their steadfast commitment, stewardship,
and leadership. Five Star believes in their clients’
missions and assumes them as their own. It is no
wonder Five Star Bank is celebrating 25 years
of community banking! We know our bank is
here to stay and will sustain their clients’ trust,
respect, and appreciation for many years to
come. Having Five Star in our co-pilot’s seat
will take our organization, and our airshow, to
new heights!
DA R C Y B R E W E R
Executive Director
California Capital Airshow
The Five Star Bank Legacy:
Celebrating 25 Years of Service
Five Star Bank was founded in 1999 (and Five Star
Bancorp was incorporated in 2002) by Marvin “Buzz”
Oates and Frank Ramos who asked a group of local
entrepreneurs to join them in their pursuit of creating
the kind of personalized banking services they desired
themselves. They envisioned highly-customized
banking services steeped in trust and authentic
partnership between client and banker. Today, Five Star
Bank is guided by purpose-driven banking, community
stewardship, regional and industry expertise, a speed
to serve, and a commitment to economic development.
In May 2021, the Company completed its initial public
offering. The Company focused on organic growth by
strategically and thoughtfully expanding its reach in
Northern California (and beyond) and by developing
its team, banking groups, internal processes,
community partnerships, and brand. In 2023, the
Company expanded into the San Francisco Bay Area,
and in 2024, the Company opened an office in the
San Francisco Financial District. Today, the Company
provides a broad range of banking products and
services to customers who are predominately small
and medium-sized businesses, professionals, and
individuals primarily in Northern California through
eight branch offices and with our mobile banking
applications. Our primary loan products are
commercial real estate loans, land development loans,
construction loans, and operating lines of credit.
Our principal geographic markets are the Capital
Region (Elk Grove, Rancho Cordova, Roseville, and
Sacramento), the North State (Chico, Redding, and
Yuba City), and the nine-county San Francisco Bay
Area. The geographies we serve have profitable and
productive economies driven by the governmental,
education, technology, healthcare, agricultural, and
manufacturing sectors. Since 2016, our market share
of the total deposits in the Greater Sacramento Area
has increased significantly, according to the Federal
Deposit Insurance Corporation (FDIC) Deposit Market
Share reports. We believe our market growth
confirms the quality of the purpose-driven and
integrity-centered banking we strive to deliver to
clients. Our mission is to become the top business
bank in the markets we serve through exceptional
service, deep connectivity, and client empathy.
We are pleased our legacy endures as we honor
our founders, Buzz and Frank. We are grateful
for their vision and tenacity.
M a rv i n " B u z z " Oat e s (1923 - 2013)
& F r a n k R a m o s
S ECO N D O F F I C E
O P E N S I N
SAC R A M E N TO, CA
F IV E STA R
BA N K
O P E N S F I RST
O F F I C E I N
R O C K L I N , CA
T H I R D O F F I C E
O P E N S I N
R A N C H O
CO R D OVA , CA
S EV E N T H O F F I C E
O P E N S I N
Y U BA C I T Y, CA
F O U RT H O F F I C E
O P E N S I N
R E D D I N G , CA
F I V E STA R BA N K
L AU N C H E S
S U CC E S S F U L I P O
N A S DAQ : FS B C
F I F T H O F F I C E
O P E N S I N
ELK GROVE, CA
E I G H T H O F F I C E
O P E N S I N
SA N F R A N C I S CO, CA
S I XT H O F F I C E
O P E N S I N
C H I CO, CA
1999
2006
2020
2004
2008
2014
2021
2011
2024
A History of Growth
1999-2024
4 | F I V E S TA R B A N C O R P
2 0 2 4 A N N U A L R E P O R T | 5
A Year of Awards & Recognition
AWA R D S :
Greater Sacramento Economic Council
Sustainability Award
The awards recognized Five Star Bank for supporting
industry growth in the Greater Sacramento region.
Sacramento Business Journal
Fastest Growing Companies
Sacramento Business Journal
Power 100 List:
James Beckwith, President & CEO
Sacramento Business Journal
Women Who Mean Business:
Lakhwinder Kaur, SVP / Sacramento Valley
Market President
Sacramento Business Journal
C-Suite Award:
Heather Luck, SVP / Chief Financial Officer
Sacramento Business Journal
40 Under 40:
Maria Soria, VP / Director of Community Relations
National Association of Women Business Owners’
Sacramento Valley’s Outstanding Women Leaders’
Executive Woman Award:
Lydia Ramirez, SVP / Chief Operations Officer
& Chief DE&I Officer
Independent Community Bankers of America
40 Under 40: Emerging Community Bank Leaders Award:
DJ Kurtze, SVP / San Francisco Bay Area President
Association of Latino Professionals for America
50 Most Powerful Latinas:
Lydia Ramirez, SVP / Chief Operations Officer
& Chief DE&I Officer
Redding Chamber of Commerce
Ambassador of the Year:
Karen Simmons, VP / Deposit Administration
Manager – North Region
R at i n g s & R a n k i n g s :
Bauer Financial
Superior Rating (5 stars out of 5)
IDC
Superior Rating
The Findley Report
Super Premier Performer
S&P Global Market Intelligence
Top 3 Best-Performing Community Banks in the nation
(banks with $3 billion to $10 billion in assets)
BankDirector Magazine (RankingBanking)
Best U.S. Banks with assets less than $5 billion
(ranked #5)
BankDirector Magazine (RankingBanking)
Top 25 U.S. Banks (ranked #18)
Piper Sandler’s Sm-All Stars
Franchise
Growth
2019-2024
L OA N S
D E P O S I T S
+24.5%
+22.1%
$3.5B
$3.6B
$1.2 B
$1.3 B
CAGR
CAGR
2019–2024
2019–2024
Dear Clients and Shareholders:
We are pleased 2024 marked Five Star Bank’s
25th year serving clients, community partners,
shareholders, and employees!
It is with deep appreciation and gratitude that we have
advocated for our clients and championed the communities
we serve. We always will.
As our expansion into the San Francisco Bay Area continues,
and as we build upon a legacy of superior community banking
in the Capital Region and North State, we answer the call of
businesses and organizations who desire a banking partner who
will sustain well into the future. Five Star Bancorp is here to
stay. We are proud to have experienced another year of organic
growth built upon a sturdy foundation of client service, expanded
relationships and products, and the loyalty of exceptional clients.
We will always remember we exist because our clients trust us
and we believe in them.
It is our privilege to share Five Star Bancorp’s 2024 Annual Report
with you.
Total Bank Assets
Total Loans
Total Deposits
Total Tier 1 Capital
Net Income
Return on Average Assets
Return on Average
Shareholders' Equity
$1,479.9
$1,180.3
$1,311.8
$107.4
$29.3
2.2%
31.4%
2019
2020
2021
2022
2023
2024
2024
$1,953.8
$1,503.2
$1,784.0
$130.3
$35.9
2.0%
31.2%
$2,556.8
$1,934.5
$2,285.9
$233.4
$42.4
1.9%
22.5%
$3,227.2
$2,791.3
$2,782.0
$264.0
$44.8
1.6%
18.8%
$3,593.1
$3,081.7
$3,026.9
$298.7
$47.7
1.4%
17.9%
$4,053.3
$3,532.7
$3,558.0
$409.5
$45.7
1.2%
12.7%
december 31,
Financial Highlights 2019-2024
Dollars in Millions
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A Culture of Engagement & Belonging
Community Impact and Inclusion
The Company facilitates talent attraction and
retention through an inclusive, safe, and healthy
workplace where employees have opportunities to
grow and develop their careers. They are also supported
by strong compensation, benefits, and health and
welfare programs. As of December 31, 2024, we had 205
full-time and five part-time employees. In addition to
salaries, we offer annual bonus opportunities, a 401(k)
plan with an employer matching contribution,
healthcare and insurance benefits, flexible spending
accounts, paid time off, family leave, and an employee
assistance program. We invest in the growth and
development of our employees by providing a multi-
dimensional approach to learning that empowers,
intellectually grows, and professionally develops our
employees through support to attend conferences and
obtain degrees, licenses, and certifications. This support
has resulted in a highly educated and exceptionally
engaged workforce. Further, Community Impact and
Inclusion initiatives and programs are foundational to
our core business model as we seek to ensure forward-
thinking principles permeate workforce development,
as well as relationships with community partners and
clients. We understand and appreciate the complexity
and importance of the inclusion of a full range of
identity groups, from ethnicity and nationality to age,
gender, religious commitment, socioeconomic status,
sexual orientation, and those with disabilities.
We also recognize these initiatives build trust which
affects financial ecosystems and drives companies’
bottom lines. Banking can often leave clients feeling
vulnerable and exposed as they reveal details of their
financial history. This vulnerability exists and can be
difficult to overcome if trust has not been created –
and trust is often more easily established between
those with shared experiences. We believe embracing
and understanding this reality through a diverse
workforce creates opportunity not only from a business
perspective but also opportunity to profoundly help
those from diverse communities. We believe a
successful program will ultimately benefit both the
Company and those the Company serves.
Environmental, Social & Governance
Five Star Bancorp takes a proactive approach
to Environmental, Social & Governance (“ESG”)
initiatives and believes our ability to manage ESG
demonstrates strength in leadership and governance
that is essential to sustainable growth. We are
executing ESG strategies which will drive positive
change while focusing on the impacts of our business,
social factors in the communities we serve, and the
governance of our board of directors. As stewards
of our environment, we also support clients focused
on sustainable energy and environmental impact. We
believe social impact is inherent in banking and we
work with clients and partners committed to the same
values. We also support clients who provide innovative
environmental solutions and restore life and vitality
to areas devastated by catastrophic events and the
environmental and humanitarian crises surrounding
the unhoused. Please refer to the Company’s 2024
Environmental, Social & Governance Report for more
information on 2024 ESG initiatives.
Exceptional Credit Quality
Exceptional asset quality has consistently been our
focus. We have well-established loan policies and
underwriting practices that have resulted in very
low levels of charge-offs and nonperforming assets.
Additionally, we have a multifaceted loan monitoring
framework established to regularly evaluate our asset
quality after the origination process. Our 2024 results
are a testament to the strength of our loan portfolio.
The ratio of nonperforming loans to loans held for
investment was five basis points as of December 31,
2024, representing a decrease of one basis point from
the prior year. Our allowance for credit losses increased
from 2023, primarily due to growth in the loan
portfolio rather than deteriorating credit quality.
Looking ahead to 2025, asset quality remains at the
forefront of our objectives.
Pictured Left to Right:
Sacramento Business Journal’s 40 Under 40 Honoree
Maria Soria, Vice President / Director of Community Relations
Sacramento Business Journal’s C-Suite Award
Heather Luck, Senior Vice President / Chief Financial Officer
Sacramento Business Journal’s Women Who Mean Business
Lakhwinder Kaur, Senior Vice President / Sacramento Valley Market President
Association of Latino Professionals For America's 50 Most Powerful Latinas Honoree
& NAWBO Sacramento Valley's Outstanding Women Leaders' Executive Woman Award
Lydia Ramirez, Senior Vice President / Chief Operations Officer and Chief DE&I Officer
Congratulations!
Te success of one woman is inspiration for another.
At we celebrate the women on our
team who have been recognized for leading with vision,
supporting our community, and igniting a spirit of
collaboration in our region.
FIVE STAR BANK
8 | F I V E S TA R B A N C O R P
t o ta l i n c o m e
b e f o r e ta x e s
ta n g i b l e b o o k
va l u e p e r s h a r e
+16.3%
+10.6%
$64.7 M
$30.4M
$11.25
$18.60
CAGR
CAGR
2019–2024
2019–2024
Compound
Annual
Growth Rate
2019-2024
Strong and Growing Capital
Our book value per share as of December 31, 2024, was $18.60 per share,
representing an increase of approximately $2.04 per share, or 12.32%, compared
to 2023. We have paid cash dividends on our common stock in every quarter since
January 2002, with the exception of the third and fourth quarters of 2009 and all
quarters of 2010. It is currently the intention of the board of directors to continue
payment of cash dividends on a quarterly basis. During the year ended December
31, 2024, we paid approximately $16.2 million in dividends.
2024 Results
Results for 2024 reflect the continuation of our organic growth story and that
2024 was yet another incredible year. As of December 31, 2024, our total assets
were $4.1 billion, an increase of $460.2 million, or 12.81%, from the prior year. Net
income decreased from the prior year by approximately 4.32% to $45.7 million. Our
return on average assets and return on average equity during 2024 were 1.23% and
12.72%, respectively. Total loans, net of allowance for credit losses, were $3.5 billion
as of December 31, 2024. Loan originations, net of repayments, totaled $442.8
million for the year, growing the loan portfolio by approximately 14.63% during
2024. Total deposits were $3.6 billion as of December 31, 2024. Deposits grew by
$531.1 million, or 17.55%, during 2024, and we ended the year with a 25.93% ratio of
non-interest-bearing deposits to total deposits.
Information Technology Investments
In 2024, we continued to make investments in our information technology systems
and staff for our banking and lending operations and treasury management
activities. We believe this investment will support our continued growth and enable
us to enhance our capabilities to offer new products, improve the overall client
experience, improve profitability through efficiencies, and provide scale for future
growth. We utilize nationally recognized software vendors, preferring their cloud/
hosted models, which allows us to outsource the processing of our data, providing
greater scalability and disruption avoidance.
Community Reinvestment, Non-profit Support & Impact
In 2024, Five Star Bancorp was an engaged member of many Chambers of
Commerce. Among other initiatives, we were committed to supporting educational
programs, affordable housing, and non-profit clients. We are committed to a robust
Community Reinvestment Act (“CRA”) Program and you will read more about these
efforts in this report. Five Star Bancorp is extensively engaged with a wide range of
non-profits and economic development corporations in the communities we serve
through direct charitable giving and active board engagement. Our executive team
members serve on numerous non-profit boards of directors, including 3Strands
Global Foundation, the Sacramento Hispanic Chamber of Commerce,
the Capital Black Chamber of Commerce, the Asian Pacific Chamber of
Commerce, Sacramento Regional Conservation Corps, Sacramento Food Bank &
Family Services, Project R.I.D.E., and the American River Parkway Foundation. In
2024, we continued our commitment to educational initiatives as mentors, funders,
and advocates, including at Cristo Rey High School Sacramento and Capital
College & Career Academy. We support the meaningful work of those who serve
students from low-to-moderate income communities who have little financial
and emotional support. We stand on a sturdy foundation of what we have built
together so that we may encourage, support, and strengthen those who
need us most.
Executive Leadership Depth
Five Star Bancorp’s leadership team includes executives who have diverse
backgrounds, education, ages, and areas of expertise. They share a depth of
knowledge of the Company’s corporate culture, strategic objectives, core business
model, business verticals, and client expectations. They are each committed to
an exceptional client experience guided by a speed to serve and certainty of
execution. Our executive leadership is a synergistic and dynamic team with a high
level of mutual respect and trust; this trust permeates the entire organization and
has made Five Star Bancorp an attractive company for employees to experience
their own successes.
A Look Ahead
While we remain focused on the future and maintaining a position of respect
and distinction in the markets and communities we serve, we are proud to look
back at 2024 as an extraordinary year of achievement. The Company’s stellar
performance included year-over-year growth in loans, assets, and deposits, strong
earnings per share, and a regular shareholder dividend. This is emblematic of the
cohesion that exists among our team which grew in strength and stamina after
being a vital force for clients. An adaptive team is critical to our success and we
will continue to hire those who can quickly respond to changing market conditions
and demands. In the coming year, we will stay at the forefront of innovation and
technology by making investments in people and processes. We will also remain
focused on the successful execution of our ongoing digital transformation and the
continued build-out of our banking groups and the San Francisco Bay Area market.
We are humbled and proud of our team’s accomplishments and look forward to
the continuation of our organic growth story. Five Star Bancorp has never been
better positioned for the future. We look to the coming year with optimism and
in anticipation of the possibilities it holds for all of us. Our clients, shareholders,
and employees are our driving force, our reason for existing, and our greatest
champions. It has been our privilege to serve you.
J a m e s B e c k w i t h
President & CEO
J ac k D a lt o n
SVP / Chief Credit Officer
M i k e L e e
SVP / Chief Regulatory Officer
H e at h e r L u c k
SVP / Chief Financial Officer
Ly d i a R a m i r e z
SVP / Chief Operations Officer
& Chief DE&I Officer
M i K E R i z z o
SVP / Chief Banking Officer
B r e t t Wa i t
SVP / Chief Information Officer
S h e l l e y W e t t o n
SVP / Chief Marketing Officer
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14
Core Values
14
Regions Served
16
The Entrepreneur’s Bank | Business Vertical Overview
17
Select Clients
87
Community Reinvestment & Sustainability
88
Supporting Clients Who Serve Others
94
Economic Development
95
Education & Workforce Development
96
Environmental Impact
97
Employee Growth Opportunities, Demographics
& Volunteer Impact
99
Executive Leadership
105
Board of Directors
111
2024 Financial Summary
118
Locations
Contents
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Rancho Cordova
Rancho Cordova is located 12 miles east of Sacramento
and spans more than 34 square miles. Rancho Cordova’s
largest industries include healthcare, retail trade, and
public administration.
The Rancho Cordova branch opened in 2006.
Roseville
Roseville is the most populated city within Placer County
and spans over 42 square miles. Roseville is home to one
of the largest auto malls in the country, as well as the
second-largest shopping mall in Northern California. The
city’s largest industries are business, financial operations,
healthcare, and education.
The branch opened in Rocklin in 1999 and moved to
Roseville in 2018.
N O R T H S TAT E
Five Star Bancorp serves the North State through branch
locations in Chico, Redding, and Yuba City.
Chico
Chico is located in Butte County, approximately 90 miles
north of Sacramento and spans 34 square miles. It is the
most populated city in Butte County and the largest city
north of Sacramento. The city’s largest industries are
healthcare, social services, retail, and education. The
city is known for being a college town as the home of
California State University, Chico, and for Bidwell Park,
the nation’s 13th largest municipal park that makes up
over 17% of the city.
The Chico branch opened in 2014.
Redding
Redding is located along the Sacramento River, 162
miles north of Sacramento and 120 miles south of the
Oregon border. The city has a total area of 61 square
miles and is surrounded by mountains to the north,
east, and west. It is known as the economic and cultural
capital of the Shasta Cascade region of Northern
California. The city’s largest industries are healthcare,
retail, food service, and education. One of Redding’s
most notable attractions is the Sundial Bridge, one of
the largest working sundials in the world which serves
as a pedestrian bridge over the Sacramento River and is
a world-famous California landmark.
The Redding branch opened in 2008.
Yuba City
Yuba City is located 40 miles north of Sacramento in
Sutter County. The city spans approximately 15 square
miles and is known as a vast agricultural community with
farms and orchards surrounding the area. Yuba City is
also well-known for their annual Sikh Parade, an event
held on the first Sunday of November that draws more
than 100,000 attendees from across the country.
The Yuba City branch opened in 2020.
S A N F R A N C I S C O B AY A R E A
San Francisco
The San Francisco Bay Area is approximately 80 miles
from Sacramento and includes the nine counties of
Alameda, Contra Costa, Marin, Napa, San Francisco,
San Mateo, Santa Clara, Solano, and Sonoma. Each of
the counties is known for unique qualities, from natural
beauty and prominent universities, to technology
companies, cuisine, and national parks.
The San Francisco branch opened in 2024.
Regions Served
Five Star Bancorp serves clients nationwide
and has branch locations in Northern
California including the Capital Region,
North State, and San Francisco Bay Area.
C A P I TA L R E G I O N
Five Star Bancorp serves the Capital Region
through branch locations in Elk Grove, Natomas,
Rancho Cordova, and Roseville and one non-
depository office located in Downtown Sacramento.
Downtown Sacramento
Downtown Sacramento is the epicenter of
government, business, and entertainment. It
is well-known for the California State Capitol
and numerous businesses, organizations, and
restaurants. Sacramento is also home to the
National Basketball Association’s Sacramento Kings,
as well as Minor League Baseball’s Sacramento
River Cats and the United Soccer League’s
Sacramento Republic FC.
The non-depository office opened in Downtown
Sacramento in 2020.
Elk Grove
Elk Grove is located south of the city of Sacramento.
It is the second largest city in Sacramento County
by population and covers 42 square miles of land.
The city’s largest industries are healthcare, public
administration, and education. Elk Grove has
over 100 parks totaling more than 700 acres of
recreational amenities. One of the most prominent
outdoor attractions is the Laguna Creek Parkway,
a 13-mile waterway which includes walking and
riding trails, as well as fishing and bird-watching
opportunities.
The original Elk Grove branch opened in 2011 and
moved locations in 2022.
Natomas
Natomas is a community in the northwestern
section of Sacramento. The area spans over 20
square miles and has more than 1,000 acres
of undeveloped land for future development
opportunities. Natomas is home to more than 2.8
million square feet of retail centers, office parks,
and education facilities.
The Natomas branch opened in 2004.
Core Values
We foster a sense of urgency toward
thoughtful action.
We hire, retain, and develop client-
centric talent.
We create a culture of belonging and
engagement through a diverse and
inclusive workforce.
We engage with our community for
mutual success through representation,
innovation, and investment.
We fulfill commitments as promised,
on time, and with the highest
standards.
We serve clients and colleagues with
professionalism and respect.
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The Entrepreneur’s Bank
Business Vertical Overview
Five Star Bancorp recognizes entrepreneurs are the
foundation of a strong and growing economy. Whether a
business is just getting started or is a thriving enterprise, we
are committed and compassionate bankers ready to serve.
This commitment is authentic and meaningful and has resulted
in Five Star Bancorp earning a high level of trust among
our clients. Further, the depth and scope of our expertise in
specific verticals ensure our clients are provided a greater
level of service than our competitors can provide.
Manufactured Home Communities, RV Parks & Self Storage
Commercial Real Estate & Construction
Private Enterprise (small and medium-sized businesses,
non-profit organizations, and associations)
Faith-based
Practice & Professional Services
Venture Banking, Technology & Startup
Government
Healthcare
Small Business Administration
Agriculture & AgTech
Private Enterprise
Healthcare
Government
Private Enterprise
Private Enterprise
Commercial Real Estate & Construction
Agriculture & AgTech
Private Enterprise
Practice & Professional Services
Government
Commercial Real Estate & Construction
Commercial Real Estate & Construction
Non-Profit
Non-Profit
Small Business Administration
Venture Banking, Technology & Startup
Faith-based Community
Healthcare
Commercial Real Estate & Construction
Non-Profit
Small Business Administration
Agriculture & AgTech
Private Enterprise
Private Enterprise
Private Enterprise
Manufactured Home Communities,
RV Parks & Self Storage
Commercial Real Estate & Construction
Private Enterprise
Practice & Professional Services
Manufactured Home Communities,
RV Parks & Self Storage
Non-Profit
Non-Profit
Commercial Real Estate & Construction
Private Enterprise
Original Joe’s Restaurants
Merik Gross, MD
Kirkwood Meadows Public Utility District
Brothers Air Support
Freeport Bakery
FORMA Construction
Cattlemen’s Livestock Market
Energy Operations Management
Crux Rehabilitation
Amador Water Agency
Capital Rivers Commercial
Livingston’s Concrete Service, Inc.
Luis Miramontes Memorial Foundation
Sacramento Philharmonic & Opera
Canine Purpose
Mighty Capital
Doxa Church
Dignity Health Mercy Medical Group
Metrovation
California Capital Airshow
Nimi Skincare
Darin Williams Farming
High-Hand Nursery
Palmer Signs
Julius Clothing
The Requity Group
REDCO Development
San Francisco Bar Pilots
Wintersteen | Casarez, A Professional
Law Corporation
TCC Management
San Francisco Opera Guild
Pacific Justice Institute
Singular Builders
Visit Sacramento
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Select Clients
PA G E
V E R T I C A L
C L I E N T
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O r i g i n a l J o e ' s opened their doors in 1937 as a
14-stool counter on a sawdust covered floor. Serving classic
Italian-American fare, the restaurant prepares dishes in
an open kitchen for all to see, providing hearty portions
at reasonable prices. Known as much for its comfortable
familiarity as for its abundant portions, the menu offers
hamburgers, steaks, seafood, and pastas, which now
represent a Northern-California style of food that delivers
the feelings of hope, camaraderie, and optimism synonymous
with the American Dream.
Five Star Bank understands and
supports our restaurants and growth.
We appreciate being a valued customer
and not just an account number. We
understand customer service at Original
Joe’s and Five Star brings an Original
Joe’s level of customer service to banking.
They are a vital part of our restaurants
and banking goals.
T H E D U G G A N FA M I LY
Marie, John Sr., Elena & John Jr., Owners
San Francisco, CA
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After a frustrating and extremely stressful
experience with my previous bank, I knew it
was time to find a new bank that would be a
better partner for me and my small business.
I moved my accounts to Five Star Bank
and the entire transition has been seamless.
Their team is extremely helpful and I am so
grateful for their support. It is rare to find
personalized service from bankers who are
kind and competent. I really value that and I
cannot say enough good things about
Five Star Bank.
M e r i k G r o s s , M D , provides primary care to patients.
Dr. Merik Gross takes the time to ensure all of her patients
feel as if they are a member of her family by listening to their
questions and concerns and understanding the complexities
of each human body so she can better diagnose what ails it.
D R . M E R I K G R O S S
Owner
San Francisco, CA
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While attending a conference, we were
very pleased to meet Five Star Bank.
After talking to other Five Star customers,
we transferred all accounts seamlessly. Every
step of the way, from in-person, to phone
calls, to video / internet interactions, we felt
heard and appreciated. We were constantly
impressed with the professionalism of all Five
Star staff. Further, our staff quickly learned
the intuitive and user-friendly web interface
which was light-years ahead of our old bank.
I cannot recommend Five Star Bank enough!
K i r k wo o d M e a d ow s P u b l i c U t i l i t y
D i s t r i c t maintains and enhances the quality of life in
Kirkwood by providing their customers with safe, reliable,
and environmentally responsible services. They provide
water, wastewater, fire protection, solid waste removal,
snow removal, cable television administration, mosquito
abatement, parks and recreation services, and electrical
and propane services to their customers.
E R I K C H R I S T E S O N
General Manager
Kirkwood, CA
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B r o t h e r s A i r S u p p o r t, founded by twin brothers
Michael and Christopher Mariani, is driven to help protect
the people and lands of California and beyond from
wildfires. Today, they are a heavy lift helicopter company
and a team of "brothers" serving the forestry, utility, and
agriculture industries.
After losing our family’s home in the 2017
Napa Atlas Peak Fires, we were driven to
help protect the lives and lands of California
from wildfires. We were looking for a bank
that believed in us as much as we believed in
ourselves. We found what we were looking for
in Five Star Bank. Five Star Bank believed in
our business plan and provided us with start-
up capital and a much-needed operating line
to help us serve and protect our communities.
We are full of gratitude for the opportunity to
work with Five Star. We could not have started
Brothers Air Support without them.
M I C H A E L & C H R I S T O P H E R M A R I A N I
Owners
Vacaville, CA
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After our bank sold three times we knew
we needed a bank that was here to stay.
Luckily we were introduced to
Five Star Bank. The transition was
seamless and now we are with a bank
that understands and values our
business needs.
WA LT E R & M A R L E N E G O E T Z E L E R
Owners
Sacramento, CA
F r e e p o r t B a k e r y, a regional treasure, is a family-
owned, full-line scratch bakery serving the Sacramento
region since 1987. Along with their well-loved cakes, they
bake a fresh selection of morning Danish pastries, muffins,
pies, cookies, and savory items daily.
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As the founder of a dynamic and growing company, I
know having the support of a good bank is fundamental.
In my past experience, I always felt that I was chasing my
banker to perform even routine tasks. After five years, the
lack of urgency began to impact our businesses as I found
myself spending more time holding the bank accountable
than my own team. I decided to explore other options
and was immediately blown-away by the Five Star Bank
team. Starting with our first call, their excitement for our
company was authentic and palpable. As our conversations
continued, they transformed from our potential bankers to
our advocates. We weren’t just another company to them,
as much as a team they wanted to support and cheer for.
Since our move, not only has that advocacy continued,
I appreciate how proactive and thoughtful it has been.
It feels like we really have someone in our corner.
V I C T O R M E Z H V I N S K Y
Founder & President
San Francisco, CA
F O R M A C o n s t r u c t i o n is a homeowner's best
partner. Their commitment to transparent business
practices, proactive project management, superior
construction, and unparalleled craftsmanship ensures
distinctive projects, from custom homes to major remodels
and historic rehabilitations.
2 8 | F I V E S TA R B A N C O R P
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Five Star Bank is the complete banking
solution for our family of companies.
The community bank feel and customer
service combined with their diverse
banking solutions make them an
ideal partner.
C at t l e m e n ’ s L i v e s t o c k M a r k e t ( C L M )
has provided California, Nevada, and Oregon cattlemen
with California’s central most livestock market for 55 years.
Built with a commitment to customer service and dedication
to California’s cattle industry, CLM established itself as
California’s premier marketing facility. The Parnell family
took the ownership reins with the same commitment to
customer service. Jake Parnell has managed CLM since
February of 2007 and continues the legacy of livestock
marketing. CLM is northern California’s only Wednesday
auction market and draws a large contingent of buyers
throughout the western United States.
M O L LY & J A K E PA R N E L L
Owners
Galt, CA
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D E R E K J O N E S
President
Rancho Cordova, CA
E n e r g y O p e r at i o n s M a n ag e m e n t is a leader
in proprietary natural gas pipeline infrastructure project
development and operations in California and Nevada. They
specialize in serving industrial end-users, dairy biomethane
developers, and conventional gas producers, offering
diversified services tailored to meet the unique needs of
each customer. With a deep understanding of the complex
energy and regulatory landscape, Energy Operations
Management's staff and platform are equipped to navigate
and solve the challenges of today's energy market.
Since our transition to Five Star Bank, we have
consistently experienced professionalism, expertise, and
a customer-focused approach that sets them apart in the
banking industry. Beyond banking services, what truly
sets Five Star apart is their commitment to building and
maintaining strong relationships. Regular contact with
bank management, well-organized networking events, and
personal engagement opportunities have enabled us to
explore new business opportunities and better understand
the diverse range of services they offer. This personal
touch is a rare quality that makes Five Star an invaluable
partner. Five Star Bank embodies excellence in banking
through their innovative products, outstanding support,
and relationship-driven approach. I wholeheartedly
recommend their services to anyone seeking a trusted
financial partner dedicated to their success.
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Working with Five Star Bank has
provided our organization with tailored
financial solutions that support our growth
and operational efficiency. Their responsive
customer service and in-depth industry
knowledge have helped us navigate challenges
and seize opportunities. Additionally, the
bank’s commitment to our community aligns
with our values, enhancing our reputation
and relationships locally. Their support has
been instrumental in achieving our financial
goals and fostering sustainable development.
C r u x R e h a b i l i tat i o n is a multidisciplinary
institute with a holistic approach to providing the best
outcomes for their patients. They provide various services
to improve overall functionality and bring about complete
transformation in the well-being of the musculoskeletal
system of the body. Crux Rehab’s staff has expertise in
managing patients with both chronic and acute ailments and
injuries while working closely with patients and their health
care teams including primary care providers and specialists.
J AG D E E P G A R C H A
CEO & Physical Therapist
Sacramento, CA
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Five Star Bank's proactive and
energetic customer service has resulted
in a better structure of accounts, more
financial transparency, and much
greater interest yields than we were
earning previously.
A m a d o r Wat e r Ag e n c y was formed as a
public non-profit special district in 1959 by the California
Legislature and ratified by the voters of Amador County
for the purpose of providing water, wastewater, and storm
drain services to Amador County. They serve approximately
10,000 customers in Amador County and are the primary
provider of drinking water.
L A R R Y M C K E N N E Y
General Manager
Sutter Creek, CA
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Working with Five Star Bank has been
instrumental for the growth of our business. Although
Capital Rivers Commercial is a smaller, but growing,
company in commercial real estate development,
brokerage, and property management, Five Star treats
us like their top priority. From the CEO to the team
members processing our wires and setting up accounts,
their level of personal care is unmatched. They
understand real estate development, recognize how
we mitigate risks, and work with us as true partners.
Regular check-ins ensure we continue to find ways
to grow and manage our business efficiently. Their
proactive approach and industry insight have been
invaluable to our success. Moving from one of the
nation’s largest banks to Five Star has been one of the
best decisions we have made.
G R E G AG U I R R E
President & CEO
Sacramento, CA
C a p i ta l R i v e r s C o m m e r c i a l ' s team of
commercial real estate brokers, property managers, and
development professionals work, together to deliver creative
solutions to meet their clients' goals and help them reduce
risks. They approach their projects with loyalty, forward
thinking, hard work, and passion.
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Working with Five Star Bank has been a
great experience. We decided to move our
corporate accounts in the first quarter of
2024, which is never an easy decision to
make, or an easy process to undertake. But
the staff at Five Star has been wonderful.
The communication and customer service
exceeded our expectations and they made the
process extremely easy. Their staff are friendly,
professional, and helpful. Now on the other
side of the transition, we feel confident that
we made the right decision and are excited
for our future with Five Star!
L i v i n g s t o n ' s C o n c r e t e S e r v i c e , I n c . ,
is a family-owned and operated business founded by
Edith and Vince Livingston in 1946. They have solutions
for residential and commercial projects, from foundation
to bridges, with the goal of providing superior ready-mix
concrete and great customer service to their valued clients.
J O E & S H A N N O N R U S S I
President & Vice President
North Highlands, CA
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Working with Five Star Bank has been
instrumental in advancing our mission and expanding
our impact on our community. Their support ensures
we can continue to advance state-of-the-art cancer
treatments and technologies in the North State. Their
expertise in non-profit banking provides us with
valuable insights and resources and helps us manage
our finances more effectively and maximizes our
interest-bearing account opportunities. Five Star has
consistently gone above and beyond our expectations
in their service to our organization. Their team is
incredibly responsive and attentive, always ready
to assist us with any financial queries or needs we
may have. Their commitment to our cause and their
proactive approach has made them a trusted and
indispensable partner in our journey.
R A N DY J E N S E N
Executive Director
Redding, CA
L u i s M i r a m o n t e s M e m o r i a l F o u n d at i o n
was established in 2011 to honor the memory of Gold Hills
Golf Pro Luis Miramontes. The Foundation’s main goal is to
raise funds through donations for cancer research and to
create cancer awareness in the North State.
4 2 | F I V E S TA R B A N C O R P
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Five Star Bank has been a wonderfully
supportive banking partner for the
Sacramento Philharmonic & Opera. They
have been incredibly generous in their
support of our Link Up Music Education
program. We cannot thank them enough
for how they have impacted and enhanced
the Sacramento Philharmonic & Opera!
S ac r a m e n t o P h i l h a r m o n i c & O p e r a
is one of the region's leading performing arts
organizations. Their mission is to build community,
inspire a love of the performing arts, and enrich lives
through music.
G I U L I A N O KO R N B E R G
CEO
Sacramento, CA
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Working with Five Star Bank has been a
transformative experience for our business.
Their personalized banking approach
enabled us to secure the funding needed to
drive our growth. Every interaction with
a Five Star team member is nothing short
of exceptional. We’re grateful for their
partnership and look forward to continuing
our growth with their support.
C a n i n e P u r p o s e is a doggy daycare and dog training
company specializing in dog socialization and behavior
modification. They believe each dog has a specific role and
purpose within their human family. Every dog and situation
are unique and they personalize their training for each family.
E L I S E & W E S T O N K E S T E R
Owners
Rocklin, CA
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Mighty Capital is excited to join the
Five Star Bank family and earning their
investor trust has been an exceptional
experience, particularly due to their deep
commitment to the San Francisco Bay Area
community and its thriving venture and
innovation ecosystem. Their personalized
approach and dedication to fueling local
innovation make them a valuable partner for
both companies and investors in the region.
M i g h t y C a p i ta l is more than just a financial backer –
they’re a strategic partner companies need to win. They help
companies scale from startup to IPO, have navigated both
sides of multi-billion dollar mergers, and have been ahead of
most of the major tech shifts of the past two decades.
J E N N I F E R VA N C I N I
& S C M OAT T I
Founding General Partner
& Founding Managing Partner
San Francisco, CA
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Harvest Bible Chapel (now Doxa Church) was
formally launched at Granite Bay High School in
2013. The church began with much prayer, very
little resources, and a big vision based on the
Great Commission in Matthew 28, making
disciples of all nations. The relationship with
Five Star Bank started with simple checking
and savings accounts that provided the financial
foundation a young church needed to function.
As the church grew over time, so did Doxa’s
financial complexity. In 2019, the church realized
a need to find a permanent location. With the
help of Five Star, Doxa was able to purchase the
Rocklin campus which has enabled the church to
continue to grow and live out its mission.
S C O T T H O L L I N G S H E A D
Lead Pastor
Rocklin, CA
D ox a C h u r c h glorifies God by making disciples
to fulfill the Great Commission in the spirit of the Great
Commandment. From worship services to Kids Discipleship
to Students and Young Adults, Doxa Church aims to make
authentic disciples of Christ who follow His ways in their
worship, their walk, and their work.
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D i g n i t y H e a lt h M e r c y M e d i c a l G r o u p
believes in the healing power of humankindness. One of
the ways they put that belief into practice is to provide the
resources their clients need, including over 500 providers
at 27 locations covering primary care and 45 specialties.
Choosing Five Star Bank has been a
game-changer for Dignity Health Mercy
Medical Group. Their commitment to
providing a simple, connected, and trusted
banking experience has directly contributed
to our successful investments and enhanced
treasury services. Five Star’s partnership has
empowered us to better steward our financial
resources and community investments,
furthering our mission to provide high-quality
care across 27 locations and 45 specialties.
A L A N S H AT Z E L
& J A H M A L M I L L E R
CEO & Chief Administrative Officer
Sacramento, CA
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I could write a book about our
Five Star Bank experience. Our banker
is the most exceptional banker I have ever
worked with. Five Star’s team is tenacious,
very thorough, and organized. They are
amazing problem solvers and ensured our
loan was finalized. We are very fortunate to
have found Five Star Bank and look forward
to a very long relationship.
M A R K S E I L E R
Co-Founder & Managing Partner
San Francisco, CA
M e t r ovat i o n is passionate about creating unique
properties that bring life and energy to communities.
With over 25 years of experience in the industry, they
have become experts at revitalizing neighborhoods and
transforming underutilized areas into thriving communities.
They believe every project deserves a fresh perspective and
the opportunity to add value to the environment through a
location-driven approach to developments, combining them
with hands-on management and leasing. Their goal is to
create a perfect mix of tenants that will achieve long-term
stability, value, and adaptability to market conditions.
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We didn’t realize what we were missing in
our banking experience until we made the
jump to Five Star Bank. Five Star clearly
understood our commitment to our
non-profit’s educational mission and
financial stewardship and assumed it as
their own. From day one, the Five Star
team provided exceptional personal service
during the transition, guiding us painlessly,
every step of the way.
C a l i f o r n i a C a p i ta l A i r s h ow,
established in 2004, plans and operates a family friendly
annual event designed to honor the Sacramento Region's
rich aviation heritage and veterans while using the power
and magic of flight to inspire young people. They give
back to the community through scholarships, charitable
group donations, and exciting youth programming
throughout the year.
A N G E L A T E R R Y & DA R C Y B R E W E R
Director of Operations & Executive Director
Mather, CA
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N i m i S k i n c a r e is an American brand that delivers
high-quality skincare routines while championing America-
first values of faith, family, and freedom. Each product is
proudly made in the USA, reflecting their dedication to
their core principles. By focusing on performance-driven
ingredients and giving back to aligned causes, they uphold
the values that make them strong: quality, integrity, and
excellence.
P E T E R S T E R N
CEO
San Francisco, CA
Partnering with the Five Star Bank
team has been nothing short of a game
changer for Nimi Skincare. Their warm,
family-like approach instilled confidence
at every turn and made the loan process
transparent and straightforward. With
their expertise and white-glove support,
we’ve been able to concentrate on
growing the business and seizing new
opportunities.
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D a r i n W i l l i a m s Fa r m i n g , located in Biggs,
California, is owned by Darin Williams, a fourth-generation
farmer, and his wife, Tamara Williams. They farm 800 acres
of rice and 150 acres of walnuts. They also provide custom
farm services including fertilizing, spraying, harvesting, and
rice straw incorporation.
Years ago as a young farmer trying to expand
my operation, Five Star Bank was willing to
work with me and saw my potential. They not
only understand agriculture and its ups and
downs, but my personal farming operation, too.
Five Star sees the value in what I do as a farmer.
This support builds a trust and relationship you
don’t find at other banks. It allows me to focus
my time on farming, knowing they’ll have me
covered on the financial side. Their customer
service is outstanding and I’ve built a personal
relationship with their team. You feel like part
of a family with them.
TA M A RA & DA R I N W I L L I A M S
Owners
Biggs, CA
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S C O T T PA R I S
Owner
Loomis, CA
The hospitality and retail business is
dynamic, everchanging, and challenging.
Creating an interactive, experiential
destination takes a great bank.
Five Star Bank’s customer service and
creative solutions are directly connected
to our success.
H i g h - H a n d N u r s e r y took a blighted, condemned,
vacant lot in Downtown Loomis and transformed the space
into an interactive, experiential destination. Their nursery
and greenhouse offer gardens filled with unique shrubs and
plants. Their cafe and brewery on-site provide delicious food
and beverages. Clients can also visit their Fruit Shed and
enjoy a taste of the best olive oils and balsamic vinegars at
the High-Hand Olive Oil Company.
(Scott Paris pictured third from left.)
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Partnering with Five Star Bank has been a
game-changer for our small business. Their team
took the time to understand our unique needs
and provided us with a clear and actionable
roadmap for growth and security. At Palmer Signs,
we specialize in creating custom, high-quality
signage that enhances brands and drives success.
Whether it's our award-winning vehicle wraps or
striking storefront displays, our innovative designs
and expert craftsmanship ensure our clients'
messages truly stand out. Thanks to Five Star’s
support, we can confidently transform our clients'
visions into vibrant realities. Their commitment
to our success has empowered us to make a lasting
impression in the marketplace.
T O N Y PA L M E R
Owner & CEO
Roseville, CA
Pa l m e r S i g n s has understood what it takes to make
their clients’ businesses shine for over 30 years. They
specialize in logo creation to implementation on apparel,
signs, banners and promotional items, and high visibility
vehicle wraps.
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L O R I & B R U C E A N A P O L S K Y
Owners
Sacramento, CA
Julius Clothing's relationship with
Five Star Bank is personalized and
we receive extraordinary service. As a
family-owned business, we value personal
connection and Five Star is always there
for us. They're part of our team and help
us maintain our business as a fashion
landmark in the Capital Region!
J u l i u s C l o t h i n g is located in the heart of
Sacramento and inside the Pavilions Shopping Center.
For over 100 years, they have been known as a premier
clothing destination. They provide top-quality brands,
exclusive designers, and made-to-measure clothing
collections for men and women. Over the years, Julius
Clothing has met the demands of their clientele with
one standard goal - impeccable service plus quality and
tailored styles to fit the needs of their clients.
6 6 | F I V E S TA R B A N C O R P
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Five Star Bank has been a blessing for
The Requity Group and TRG Management.
It is one thing to have a banking partnership
that truly understands the asset class that
we invest into and is able to offer attractive
financing options. It is another to have a
banking partner that provides white-glove
support. We look forward to continuing to
use Five Star as our primary bank of choice
to support our company's growth.
T h e R e q u i t y G r o u p is a real estate investment
company that applies operational expertise to small-cap real
estate, creating value by seizing real estate opportunities
that institutional capital sources cannot efficiently pursue.
DY L A N M A R M A
CEO
Tampa, FL
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In a particularly challenging lending
environment, Five Star Bank delivered
as promised on terms and tight timing
execution for one of our recent San
Francisco commercial office building
purchases. REDCO looks forward to
continuing business with Five Star after
making our first experience with them
top notch!
“
J A S O N & C H R I S F R E I S E
Managing Partners & Co-Founders
San Francisco, CA
R E D C O D e v e l o p m e n t is a third-generation real
estate development company focused on the adaptive
re-use and repositioning of commercial properties. They
primarily concentrate on value-add, infill opportunities and
opportunistic development along the West Coast.
Photo Credit: Vicki Thompson | Silicon Valley Business Journal
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S a n F r a n c i s c o B a r P i l o t s has safely navigated
the world’s largest ships through some of North America’s
most challenging waterways for 170 years. These state and
federally licensed master mariners are highly specialized
professionals who rely on navigational experience, ship-
handling skills, and local knowledge to transport more
than $40 billion in annual trade. Over 1,000 miles of fragile
shoreline and 90% of the state’s marshlands are protected
by their expert navigation.
As the Business Director of a highly regulated
and specialized business, I knew finding a
financial partner who truly understood and
supported our unique needs would be invaluable.
Big banks just weren’t a fit. From the moment
we started working with Five Star Bank, we
experienced a banking team that was incredibly
attentive and responsive, always ready to
provide personalized solutions that fit our
specific requirements. Their range of products is
comprehensive and tailored, ensuring we have
the right tools to effectively manage our finances
and keep our business on a steady course.
A N N E M C I N T Y R E
Business Director
San Francisco, CA
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Five Star Bank has provided our law
firm with prompt and resourceful options
for our financial challenges. More
importantly, the company shares our
core values in the way they value their
team members and the strategic way in
which they are growing.
W i n t e r s t e e n | C a s a r e z , A Professional Law
Corporation, is a full-service defense firm that specializes
in workers’ compensation defense. Their clients come
from all business sectors, insurance companies, third-party
administrators, and public entities. They are dedicated to
their clients and the defense of their files, which shows in
the handling of their clients’ cases. They provide the highest
level of customer service to their clients during every stage
of the file-handling process.
E R I N W I N T E R S T E E N
& A N G E L C A S A R E Z
Co-Founder & COO
and Co-Founder & CEO
Sacramento, CA
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Our relationship with Five Star Bank
has been a cornerstone of our national
real estate private equity business. Five
Star consistently delivers exceptional,
prioritized service to every individual,
navigating demands intelligently and
dedicatedly with trust, kindness, honesty,
and support. We highly recommend the
entire Five Star team – both in lending
and banking – to any business owner.
T C C M a n ag e m e n t is a vertically-integrated
real estate owner-operator with approximately $500m
in assets.
JAY YA N G
Co-Founder
Lapeer, MI
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We are grateful for a banking partner
who cares about our success and
supports our mission. Everyone on the
Five Star Bank team makes us feel
valued and appreciated. They are
extremely customer-focused and help
us find efficiencies to make us more
productive while keeping our finances
secure. We appreciate having a banker
who is there for us when we need them.
“
S U S A N M A L O T T
Executive Director
San Francisco, CA
S a n F r a n c i s c o O p e r a G u i l d engages with
the community and recognizes authentic voices as they
emerge through the practice of music and storytelling. They
support young artists in their development of world view,
artistic expression, and leadership potential. Participation
in the performing arts leads to deep appreciation of beauty
and diverse points of view. San Francisco Opera Guild's
programs help young people grow into curious and caring
citizens with a strong sense of self and empathy for others.
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Working with Five Star Bank has been
an absolute delight. We know our bank
represents the values we hold so dear. We
also have comfort knowing they are there
for us at all times to aid with the financial
aspects of our organization while allowing
us to focus on what we do best. With
impeccable and timely service, guidance,
and all types of problem-solving when we
need it most, it is truly a pleasure to have
Five Star as our banking partner.
“
Pac i f i c J u s t i c e I n s t i t u t e is a non-profit
501(3)c legal defense organization specializing in the
defense of religious freedom, parental rights, and other civil
liberties. They work diligently, without charge, to provide
their clients with the legal support they need.
B R A D W I L L I A M DAC U S
Founder & President
Sacramento, CA
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Working with Five Star Bank has been
a game-changer for Singular Builders
from day one. Their exceptional support
and tailored financial solutions have
been instrumental in our growth and
success. We couldn’t have achieved our
goals without their dedicated team and
personalized service.
S i n g u l a r B u i l d e r s are builders by trade and
artisans by nature. From preconstruction services to
construction management, interior construction, historical
restoration, green building, and more, they specialize
in luxury interiors, hospitality, and adaptive reuse. They
believe a building is not just a building. It’s a place where
someone lives or works, a cornerstone of a neighborhood,
and the culmination of a dream. Their team builds
structures that shape the way California lives.
M I C H A E L T Z O R T Z I S
& J E F F G H E R A R D I N I
Co-Founder & President
and Co-Founder & CEO
San Francisco, CA
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Five Star Bank supports Visit Sacramento’s
mission to ensure our region is a leading
destination for meetings, conventions, travel
trade, and leisure, which support the vitality
of our regional economy by driving almost
$200 million in visitor spending annually.
Together, we are champions for Sacramento’s
prosperity and advocates for the quality of
life of our residents and business community.
Our vision is to get every person in the world
to say, ‘I want to visit Sacramento!’
V i s i t S ac r a m e n t o is the public-facing name of the
Sacramento Convention & Visitors Bureau, a destination
marketing organization. Their core business is selling and
marketing Sacramento as a destination for meetings and
conventions, travel trade, and leisure travelers to generate
economic impact for the City and County of Sacramento.
M I K E T E S TA
President & CEO
Sacramento, CA
(Mike Testa pictured far right.)
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Community Reinvestment
& Sustainability
It is our shared responsibility to build a strong
foundation of community by fostering a culture
of belonging and inclusion. We remain focused
on the investment, economic development, and
sustainability of our region. We also proudly support
many non-profit organizations dedicated to the
success of the under-resourced and vulnerable
populations, the empowerment of women, and the
viability of our environment.
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As the CEO of the Delancey Street Foundation, it’s critical
to have a bank like Five Star Bank where I know our
funds are safe. It’s important to have a bank representative
who puts our needs first. They listen and advise, but mostly,
they care. Five Star is so much more than a bank. They are
part of our community!
D e l a n c e y S t r e e t F o u n d at i o n is the country's leading residential self-help
organization for former substance abusers, ex-convicts, homeless, and others who have
hit bottom. Started in 1971 with four people in a San Francisco apartment, Delancey
Street has served thousands of residents in five locations throughout the United States.
Residents at Delancey Street range from teenagers to senior citizens, and include men
and women of all races and ethnicities. The minimum stay at Delancey Street is two years
while the average resident remains for almost four years – drug, alcohol, and crime-free.
During their time at Delancey Street, residents receive a high school equivalency degree
(GED) and are trained in marketable skills. Beyond academic and vocational training,
residents learn important values and the social and interpersonal skills that allow them
to live successfully in the mainstream of society.
M I M I S I L B E R T
President & CEO
San Francisco, CA
I spent many years being abused with gangs and
substance abusers in my early life. Then, I made terrible
choices, became a drug addict, and spent many years in
prison. Delancey Street has totally changed my life and
given me many vocational and educational skills, but
mostly it taught me to be honest, decent, empathic,
and have integrity. I am now the chef at our Delancey
Street Restaurant. I interview other people in jails and
prisons who are asking for the chance that I received to
turn my life around at Delancey Street.
J O H N R E Y N A
Chef, Delancey Street Restaurant
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I cannot say enough good things about Five Star Bank. As the recently
installed Executive Director at Sacramento Recovery House, Inc., one of my
first tasks was transferring our fiscal operations to a new bank. There were a
number of challenges with pandemic related logistics, identifying and opening
the necessary bank accounts, transferring large amounts of money, and setting
up credit lines needed to support the complex bookkeeping related to a non-
profit operation. The Five Star team went above and beyond in helping me
to get this done. No matter how many times I called them, they were always
good listeners, incredibly patient, understanding, and immediately responsive.
They exhibited a genuine interest in understanding my agency’s particular
requirements and were committed in making sure they met our specific needs.
As a provider of treatment services for over 25 years, I am keenly aware of the
importance of customer service. As such, I can without hesitation recommend
Five Star as they are exemplary in that category and I consider them a critical
partner in helping us carry out our mission to the greater Sacramento County
community. Choosing Five Star as your banking provider will be a decision
you will not regret.
S ac r a m e n t o R e c ov e r y H o u s e , I n c . , is dedicated to providing
gender-responsive, trauma-informed, residential services to adults seeking
recovery from substance use disorders.
D R . B J DAV I S
Executive Director
Sacramento, CA
Gateway House for Women has been a transformative part of my
recovery journey. Their supportive environment and compassionate
staff provided me with the tools I needed to confront my addiction
head on. Through comprehensive programs and empowering group
sessions, I learned how to heal and rebuild my life. Gateway didn't just
help me overcome my addiction, they taught me how to live a life of
recovery, to believe in myself, and become a sober, productive member
of society. They also helped me to understand that my past does not
define me and that the choices I make now will continue to empower
me to live a life that I deserve. My journey to recovery has come full
circle as I am now employed by the remarkable organization in the
role of shift monitor. This position allows me to provide essential
support to women facing addiction, and pay forward the life-saving
assistance I received from Gateway.
M I C H E L L E E VA N G E L I S TA
Shift Monitor, Sacramento Recovery's Gateway House for Womem
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Five Star Bank’s commitment to the well-being
of the community as well as their supportive
business services have bolstered our organization
and enhanced the impact of our work throughout
our 30 year history.
E VA N S C H M I D T
CEO
Sacramento, CA
Valley Vision has been a valuable partner in providing
funding and resources that enabled the Del Paso
Heights Growers’ Alliance to break ground on the future
home of the Suga’ Cane Greenhouse. And with in-kind
support, we are building a 432 square foot structure that
will provide workforce development opportunities, jobs,
and upskilling for residents to be able to participate in a
climate-friendly economy. Once built, this greenhouse
will produce and distribute over 2,000 plants
throughout the Sacramento Region.
FAT I M A M A L I K
Executive Director
Del Paso Heights Growers’ Alliance
Va l l e y V i s i o n is a civic leadership organization dedicated to improving
the livability of the Sacramento region. Through research and action, they
collaborate on bold, long-term solutions that improve people's lives.
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Economic Development
We support programs, economic development organizations, and activities that seek to improve
the economic well-being and quality of life for the communities we serve while supporting small
businesses. The Company provides services, investment, and lending which contribute to our
region’s economic growth.
Economic Development Organizations (Chambers of Commerce)
The Company supports economic development organizations including the Greater Sacramento Economic Council
which is the Capital Region’s leading economic development organization in the state capital of California. The Company
is also a member of many regional Chambers of Commerce to ensure the prosperity of a diverse business community,
including Chico, Elk Grove, El Dorado Hills, Folsom, Orangevale, Rancho Cordova, Redding, Rocklin, Roseville, Sacramento,
San Francisco, West Sacramento, Yuba-Sutter, and others. The Company actively supports, through membership and
board positions, many minority Chambers of Commerce including the Capital Black Chamber of Commerce,
Sacramento Hispanic Chamber of Commerce, Sacramento Asian Pacific Chamber of Commerce, and Indus Valley
American Chamber of Commerce.
National Association of Women Business Owners
Five Star Bancorp believes in supporting small businesses to help them grow and thrive.
Our client, National Association of Women Business Owners Sacramento Valley, provides
its members with a variety of educational, social, economic, and political programs that help
women build successful ventures and make effective changes in business culture. They also
provide members access to mentors, advisors, and advocates.
Superior California Economic Development
Superior California Economic Development ("SCED") leverages public and private funds to
grow the economy and catalyzes projects that respond to critical community needs. SCED
supports small businesses through lending and works with local and regional organizations to
provide financial programs designated to accommodate Shasta County and the surrounding
counties. Five Star Bancorp’s partnership with SCED provides an additional resource our
clients can utilize to help their businesses grow and thrive.
Community Development Loans
$19,345,000 or 0.52% of Average Assets within Sacramento,
Chico, and Redding Assessment Areas for the following purposes:
•
Affordable Housing
•
Community Services
•
Economic Development
•
Revitalizing and Stabilizing Communities
Education & Workforce Development
Supporting educational institutions is critically important to us. Five Star Bancorp supports
robust educational programs at the high school, trade school, college, and university levels.
Cristo Rey High School Sacramento
Cristo Rey High School transforms lives by providing
college preparatory education and professional
work experience to high school students with limited
financial and emotional support. The school’s vision is
to create an effective and highly regarded high school
that transforms underserved students into faith-filled,
educated, professional, and service-oriented people
through work experience programs.
Capital College & Career Academy
Capital College and Career Academy’s ("CCCA")
vision is to create an educational environment where
students are college-accelerated and job-prepared
with foundational skills in three main construction
trades: carpentry, electrical, and plumbing. CCCA
addresses a critical job skills need in the Sacramento
Region while providing students with the education
and certifications necessary to become changemakers
in their community. Upon graduation, students will
have real-world experience and tangible skills that
will allow them to succeed not just today but many
years down the road.
Sacramento State University
Business Honors Program
The Sacramento State University Business Honors
Program immerses students in an exceptional learning
experience through cohort groups and prepares them
to become highly qualified managers through a cross
functional and integrated program. Our employees also
teach classes on business marketing. When the program
was on the verge of collapse due to budget cuts, Five
Star Bancorp stepped in to sponsor the cohort from
2017 to 2026. We are proud to sponsor the Five Star
Bank Business Honors Cohort.
University of the Pacific
Five Star Bancorp underwrites University of the Pacific’s
Leadership Development Program and the Five Star
Bank Leadership Fund which provide financial support
to students. Our employees present leadership
development webinars and have regularly taught as
visiting lecturers.
University of California, Davis
The Five Star Bank Athletes in Business Group serves
student athletes interested in careers in banking or
finance and provides opportunities for employees
to interact with students while providing insight into
transitioning from college to the workforce.
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The Company's Environmental Impact
Five Star Bancorp supports clients committed to the sustainability of the communities
we serve and who create a positive environmental impact. We also find ways to conserve
resources and make a positive environmental impact, and in 2024, the Company made
progress toward sustainability practices. Activities such as utilizing e-signatures to conduct
business to reduce paper consumption, occupying sustainable facilities when possible,
shredding unused paper, utilizing recycle bins, expanding our digital capabilities, and using
energy efficient lighting have contributed to minimizing the Company’s carbon footprint.
•
The Company’s Paper Waste Reduction Program
has saved approximately 608 trees in 2024;
•
The Company believes in utilizing energy efficient
buildings, and in 2024, 4 out of 9 office locations
were sustainable offices, including a LEED Platinum
Certified building in San Francisco, California; and
•
The Company continues to expand its digital
capabilities as clients utilize remote deposit
capture and mobile deposit capture (up 25.7%
year-over-year). Remote deposit capture and
mobile deposit capture make up 80% of total bank
deposits. Additionally, 87% of clients are online
banking users.
Employee Growth Opportunities,
Demographics & Volunteer Impact
We are deeply committed to the career development and growth of our employees and
provide opportunities to ensure our workforce is engaged, dedicated, and supported for
their continued success.
Accelerated Leadership Track
Five Star Bancorp’s Accelerated Leadership Track
("ALT") is an interactive, rotational training program
which attracts the brightest, most driven college
and university graduates and nurtures their talent by
providing relevant experiences right from the start.
The Company’s goal is to identify those who can take
on challenging positions early in their career and who
have the potential to become future leaders. The
Company achieves this by engaging employees in an
intensive cross functional training program so they can
gain insight into varying aspects of financial services.
Upon successful completion of the ALT program,
participants are placed in an entry-level position
based on their strengths, interests, and talents.
Supervisor Series
The Supervisor Series was created for up-and-coming
and entry-level supervisors and was designed to
educate them on management and leadership skills so
they can best support employees and the organization.
L.E.A.D.
(Leverage. Engage. Accelerate. Drive.)
The L.E.A.D. program was designed for Company
leaders to develop skills in areas including emotional
intelligence, strategic planning, trust building,
and inspiring employees. The program provides
opportunities to strategically impact the organization
and challenges employees to become strong leaders
within the organization and in our community.
2024 Workforce Demographics
•
58.6% of total workforce were women
•
46.2% of total workforce were from diverse races
and ethnic backgrounds
2024 Senior Vice Presidents & Above
•
37.5% of Executive team were women
•
25.0% of Executive team were from diverse races
and ethnic backgrounds
•
43.5% of Senior Vice Presidents and above
were women
•
32.6% of Senior Vice Presidents and above were
from diverse races and ethnic backgrounds
Volunteer Impact
Five Star Bancorp is extensively engaged with a wide
range of non-profits and economic development
corporations through direct charitable giving and active
board engagement. Our executive team and employees
serve on numerous non-profit boards of directors,
including 3Strands Global Foundation, the Sacramento
Hispanic Chamber of Commerce, the Capital Black
Chamber of Commerce, the Sacramento Asian
Pacific Chamber of Commerce, Sacramento Regional
Conservation Corps, Sacramento Food Bank & Family
Services, Project R.I.D.E., the American River Parkway
Foundation, and more.
•
In 2024, employees contributed a total of
1,563 volunteer hours across 79 organizations
performing 712 activities
•
Averaged 8 volunteer hours per full-time employee
Five Star Bank has been a trusted
partner in Breathe California Sacramento
Region’s life-saving work for over a
decade. Five Star has been a rock,
proactively seeking ways to help us
streamline and access resources. With this
solid foundation of support and trust, we
look forward to many more productive
years in the Greater Sacramento Region
with Five Star Bank by our side.
J E N N I F E R F I N T O N
CEO, Breathe California Sacramento Region
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Executive Leadership
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J a m e s B e c k w i t h
President & Chief Executive Officer
With nearly 30 years of experience, Mr. Beckwith serves as our
President and Chief Executive Officer and is a member of our board
of directors. Mr. Beckwith joined Five Star Bank in 2003. He is deeply
connected to the Sacramento community and has chaired several
community-based organizations including the Sacramento Metropolitan
Chamber of Commerce, Valley Vision, and KVIE (the local PBS affiliate).
Mr. Beckwith is a past Chair of California Bankers Association. He is a
Private Sector Director with Greater Sacramento Economic Council
and a member of the Sacramento State University College of Business
Advisory Council. In 2024, Mr. Beckwith was elected to the board
of directors of the California Chamber of Commerce. Mr. Beckwith
previously served as Chief Financial Officer and Chief Operating
Officer at National Bank of the Redwoods in Santa Rosa, California.
He graduated from San Francisco State University with a Bachelor
of Science degree in Business Administration with a concentration in
Accounting. He is also a graduate of Pacific Coast Banking School at the
University of Washington where he was class president. In 2020,
Mr. Beckwith was recognized by the Sacramento Metropolitan Chamber
of Commerce as the Businessman of the Year and was named among
the Most Admired CEOs of 2020 by the Sacramento Business Journal.
He was also recognized with a Vistage Leadership Award in 2021 and
was the 2022 UCP Humanitarian of the Year. In 2024, Mr. Beckwith was
listed on the Sacramento Business Journal's Power 100 List.
M i k e L e e
SVP / Chief Regulatory Officer
Mr. Lee has served as Senior Vice President / Chief Regulatory
Officer since 2010. He joined the Company in 2005 as Chief
Financial Officer after serving over 14 years with the Federal
Deposit Insurance Corporation. He later transitioned to the
position of Senior Vice President / Chief Credit Officer in 2007
and served in that position until being appointed as Senior Vice
President / Chief Regulatory Officer in 2010. Mr. Lee graduated
from Midwestern State University in Texas with a Bachelor of
Science degree in Business Administration with a concentration
in Economics and graduated with honors from the Pacific
Coast Banking School at the University of Washington. Mr.
Lee serves on the boards of directors of the Sacramento Asian
Pacific Chamber of Commerce and the Sacramento Regional
Conservation Corps.
J ac k D a lt o n
SVP / Chief Credit Officer
Mr. Dalton joined Five Star Bank as Senior Vice President
/ Chief Credit Officer in 2011. He has more than 40 years
of experience in the lending and banking industry. Prior to
joining the company, Mr. Dalton started his lending career
with the Farm Credit System in 1980 as a Credit Analyst, then
transitioned into roles as a Loan Officer, Branch Manager,
and Senior Vice President / Senior Lender. In 1991, Mr.
Dalton moved to Stockmans Bank via merger as Senior Vice
President / Chief Credit Officer. Through a merger in 2008,
he later served as Senior Vice President / Region Credit
Administrator at PremierWest Bank. He is a member of the
District 3 Grower Liaison Committee for Blue Diamond and a
member of the Sutter Club's Finance Committee. Mr. Dalton
graduated from California Polytechnic State University,
San Luis Obispo, with a Bachelor of Science degree in
Animal Science.
H e at h e r L u c k
SVP / Chief Financial Officer
Ms. Luck serves as Senior Vice President / Chief Financial Officer. She first joined
the Company in October 2018 as Vice President / Director of Finance. Prior to
this, Ms. Luck was a Manager in Assurance Services for Ernst & Young, LLP from
2010 through 2017 where she led multiple audit engagements simultaneously,
including coordination with tax, valuation, and other specialist groups required
to achieve audit objectives in accordance with standards enumerated by the
Public Company Accounting Oversight Board and American Institute of
Certified Public Accountants. Her audit experience at Ernst & Young spanned
several industries including manufacturing, real estate, technology, media
and entertainment, and telecommunications. Her client portfolio included
multinational SEC registrants, private issuers, and sub-orders. She then
served as Senior Assistant Controller - Global Business Units and Mergers
& Acquisitions at Oracle from March 2018 until September 2018 where she
was responsible for overseeing the integration of general ledgers of newly
acquired entities onto the Oracle Cloud Platform which included ensuring
compliance with accounting policies and intercompany eliminations.
Ms. Luck earned a Bachelor of Science degree in Marketing from the
University of Utah and earned a Master of Science degree in Accounting
and Finance from the University of Maryland Global Campus. Ms. Luck
is a licensed Certified Public Accountant in the state of California and
graduated from Pacific Coast Banking School at the University of
Washington in 2022. In 2024, Ms. Luck was honored by the Sacramento
Business Journal with a C-Suite award.
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Ly d i a R a m i r e z
SVP / Chief Operations Officer & Chief DE&I Officer
Ms. Ramirez serves as Senior Vice President / Chief Operations Officer
and Chief DE&I Officer. She has over 18 years of experience in senior level
banking and is skilled in strategic operational process and sales management.
Before joining the Company, she served as Vice President / Multi-Branch
Manager at MUFG Union Bank from 2010 to 2017. Ms. Ramirez serves on the
boards of directors of the Sacramento Hispanic Chamber of Commerce and
Sacramento Food Bank & Family Services and is a member of the Sacramento
State University College of Business Advisory Council. She also serves on the
board of directors and is the 2024 Board Chair for the Capital Black Chamber
of Commerce. Ms. Ramirez is a graduate of Leadership Sacramento (2021)
and a senior fellow of the American Leadership Forum, class of XXVI. Ms.
Ramirez graduated from the University of California, Davis, with a Bachelor
of Science in Psychology and Bachelor of Arts in Spanish. She is a graduate
from California State University, Sacramento, with a Master of Business
Administration. She is also a graduate of California Bankers Association
Executive Banking School. In 2021, Ms. Ramirez was recognized by the
Sacramento Business Journal among their 40 Under 40 and by Comstock's
Magazine among their Women in Leadership. In 2022, Ms. Ramirez was
recognized among the Sacramento Business Journal’s Women Who Mean
Business. In 2023, she was among the inaugural class of Top 25 Latino Change
Makers by the Sacramento Bee. In 2024, she was recognized among the
Association of Latino Professionals for America's 50 Most Powerful Latinas
and by the National Association for Women Business Owners Sacramento
Valley Chapter with an Outstanding Women Leaders award.
M I K E R i z z o
SVP / Chief Banking Officer
Mr. Rizzo joined the Company in 2005 as Senior Vice
President / Business Development Officer. He helped
establish the business banking practice and developed
commercial real estate loans. Mr. Rizzo opened the de novo
Rancho Cordova office in June 2006. Currently, he serves as
Senior Vice President / Chief Banking Officer and supports
and manages the Company’s team of Business Development
Officers and Treasury Solutions Advisors. Mr. Rizzo earned
a Bachelor of Science in Business Administration with a
concentration in Finance from California State University,
Sacramento, and is a graduate of Pacific Coast Banking
School at the University of Washington. In 2022, Mr. Rizzo
was recognized among the Sacramento Business Journal's
C-Suite Awards honorees. He serves on the board of
directors and is a Past Board President of the American
River Parkway Foundation.
S h e l l e y W e t t o n
SVP / Chief Marketing Officer
Ms. Wetton has served as Senior Vice President / Chief Marketing Officer
since 2018, after first joining the Company in 2015 as Vice President /
Community Relations and Communications. Ms. Wetton has over 25 years
of corporate branding, media relations, and strategic marketing expertise.
She previously served as Vice President, Corporate Communications
at The Buzz Oates Group of Companies where she worked directly for
Buzz Oates for over 15 years and until his passing in 2013. She has worked
closely with the Company’s board of directors since its inception in 1999.
Ms. Wetton is responsible for strategic branding strategies and leads all
marketing, communications, and branding efforts. She is also responsible
for corporate partnerships and corporate giving. Ms. Wetton earned a
Bachelor of Arts degree in English and a Master of Arts degree in English
from California State University, Sacramento. She is a graduate of the
Sacramento Metropolitan Chamber of Commerce Foundation's 2018
Leadership Sacramento class. In 2023, Ms. Wetton was recognized among
the Sacramento Business Journal's C-Suite Awards honorees. She was
a guest speaker at the 2024 American Banker Association's Marketing
Conference. Ms. Wetton serves on the boards of directors of 3Strands
Global Foundation and the Sacramento Metro Chamber of Commerce.
She served on the Board of Trustees of the Leukemia & Lymphoma
Society from 2017 to 2020.
B r e t t Wa i t
SVP / Chief Information Officer
Mr. Wait first joined the Company in 2011 and currently serves as Senior
Vice President / Chief Information Officer, a position he has held since
2018. Mr. Wait has over 20 years of community banking experience and
information technology fluency and has served in various roles with the
Company including Operations Officer from 2011 to 2013, Vice President
/ Technology & Operations Manager from 2013 to 2015, and Senior Vice
President / Chief Operating Officer from 2015 to 2017. He also served
as Chief Information Officer at River City Bank from 2017 to 2018 where
he was responsible for overseeing information technology, information
security, and data analytics, before rejoining the Company in his current
position in 2018. Mr. Wait graduated from the University of Wisconsin -
Whitewater with a Bachelor of Business Administration in Finance. He
also holds a Master of Business Administration from California State
University, Sacramento.
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Board of Directors
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B O A R D O F D I R E C T O R S
J a m e s B e c k w i t h
President, Chief Executive Officer & Board Member
With nearly 30 years of experience, Mr. Beckwith serves as Five Star Bancorp’s President and
Chief Executive Officer. Mr. Beckwith joined Five Star Bank in 2003. He is deeply connected to
the Sacramento community and has chaired several community-based organizations including the
Sacramento Metropolitan Chamber of Commerce, Valley Vision, and KVIE (the local PBS affiliate).
Mr. Beckwith is a past Chair of California Bankers Association. He is a Private Sector Director with
Greater Sacramento Economic Council and a member of the Sacramento State University College
of Business Advisory Council. In 2024, Mr. Beckwith was elected to the board of directors of the
California Chamber of Commerce. Mr. Beckwith previously served as Chief Financial Officer and
Chief Operating Officer at National Bank of the Redwoods in Santa Rosa, California. He graduated
from San Francisco State University with a Bachelor of Science in Business Administration with a
concentration in Accounting. He is also a graduate of Pacific Coast Banking School at the University of
Washington where he was class president. In 2020, Mr. Beckwith was recognized by the Sacramento
Metropolitan Chamber of Commerce as the Businessman of the Year and was named among the Most
Admired CEOs of 2020 by the Sacramento Business Journal. He was also recognized with a Vistage
Leadership Award in 2021 and was the 2022 UCP Humanitarian of the Year. In 2024, Mr. Beckwith was
listed on the Sacramento Business Journal's Power 100 List.
Strategy Committee, Member
R o b e r t P e r r y- S m i t h
Board Chair
Mr. Perry-Smith founded and served as Chief Executive Officer of Perry-Smith LLP, a regional accounting
and consulting firm that provided professional services throughout California and to numerous industries,
including the banking industry. Upon his retirement in 2013, Mr. Perry-Smith concluded his 40 year career
as a Certified Public Accountant, having served as a partner and executive at both the national and
regional levels. Throughout his career, he was responsible for the delivery of professional services to
both public and private companies, including annual audits and management consulting services. With
an industry specialization in banking, he also participated in regulatory compliance examinations, capital
structure augmentation, and numerous mergers and acquisitions. Mr. Perry-Smith has been a frequent
speaker at various banking industry conferences, including the California Bankers Association. He is a
member of the American Institute of Certified Public Accountants (retired) and the California Society
of CPAs. His previous board experience includes Racor Industries, The Sutter Club (past President),
Presidio Bank, Sierra Vista Bank (Chairman), and the Perry-Smith Foundation.
Audit Committee, Chair
Governance and Nominating Committee, Member
Strategy Committee, Member
S h a n n o n D e a r y- B e l l
Board Member
Ms. Deary-Bell most recently served as President and Chief Executive Officer of Nor-Cal Beverage,
a position she held since 2010 before its acquisition in 2023 by Manna Beverages & Ventures.
At Nor-Cal Beverage, Ms. Deary-Bell had oversight of the transition of the company into one of
the largest co-packers in the western United States. During her 30 years of service at Nor-Cal
Beverage, she held numerous positions before serving as President and Chief Executive Officer.
Recently, Ms. Deary-Bell led the company through a major acquisition, and after 17 months of
negotiations, was successful in finding the right company to acquire her family business of 87 years.
Ms. Deary-Bell has been an active member of the Women Business Leaders of Sacramento since
2015. She is a member of the Sacramento Host Committee and has been a member of Vistage
(Leadership Chief Executive Organization) since 2013. Ms. Deary-Bell served on the Jesuit High
School board of directors for six years.
Governance and Nominating Committee, Vice Chair
L a r r y A l l b a u g h
Board Member
Mr. Allbaugh has served as an executive of Buzz Oates Commercial Real Estate since 1990, serving as
Chief Executive Officer since 2009. He is a managing member of Pac West Equities, LP, the primary
real estate investment entity of the organization, and Co-Trustee of the Marvin L. Oates Trust. Mr.
Allbaugh serves on the board of directors of Teichert Inc. and serves as Chair of its Audit Committee.
He also serves on the board of directors of Pacific Coast Building Products, Inc., the board of
directors of the Greater Sacramento Economic Council, and the Marvin Buzz Oates Charitable
Foundation as a founding director. He is active in multiple charitable and faith-based activities locally
and internationally.
Governance and Nominating Committee, Chair
ALCO Committee, Member
Strategy Committee, Member
R a n d a l l R e y n o s o
Board Vice Chair
Mr. Reynoso has over 40 years of banking experience, including serving as Executive Vice President
of Wells Fargo Bank from 2007 until his retirement in 2020, leading the buildout of the bank’s investor
real estate department for the nation as well as serving as Middle Market Banking Leader for Northern
California. For eight consecutive years, Mr. Reynoso was responsible for Wells Fargo Bank’s business
banking program in San Francisco and surrounding counties. Prior to this, Mr. Reynoso served as
President and Chief Operating Officer, and on the boards of directors, of both Placer Sierra Bancshares
and Placer Sierra Bank. Additionally, Mr. Reynoso was instrumental in taking Placer Sierra Bank public in
2004 as well as facilitating the sale of the bank to Wells Fargo Bank in June 2007. A native of Sacramento,
Mr. Reynoso has held leadership roles with numerous Northern California philanthropic organizations,
including the San Francisco Opera Association, the San Francisco Travel Association (where he is
the immediate past chair), and the Zuckerberg San Francisco General Hospital Foundation. Past
service includes leadership roles with the Sacramento Hispanic Chamber of Commerce, the American
Leadership Forum, the Stanford Home for Children, the Mondavi Center for the Performing Arts,
KVIE (the local PBS affiliate), and NatureBridge.
Strategy Committee, Chair
Audit Committee, Member
Wa r r e n K a s h i wag i
Board Member
Mr. Kashiwagi has over 40 years of professional public accounting experience. A retired Certified
Public Accountant, he has advised, counseled, and represented various businesses in tax planning
and compliance, business succession planning, strategic planning, and merger and acquisition
consulting. From 2011 to 2017, Mr. Kashiwagi was a Tax Partner with Crowe Horwath, LLP. Prior to
that, he was a Tax Partner with Perry-Smith LLP from 1988 to 2011. Mr. Kashiwagi has served on the
boards of directors of the Sacramento Metropolitan Chamber of Commerce, the California Asian
Pacific Chamber of Commerce, the Los Rios Colleges Foundation, and the Crocker Art Museum. He
also served as Board Chair of Sutter Community Hospitals and as Board President of the Sacramento
Japanese American Citizens League.
Audit Committee, Vice Chair
ALCO Committee, Member
1 0 8 | F I V E S TA R B A N C O R P
2 0 2 4 A N N U A L R E P O R T | 1 0 9
B O A R D O F D I R E C T O R S
J u d s o n R i g g s
Board Member
Mr. Riggs is the Chief Executive Officer and Chair of Teichert Inc., positions he has held since 2003
and 2010, respectively. Mr. Riggs serves on the boards of directors of Teichert Inc., the Greater
Sacramento Economic Council, the Host Committee, the Dean’s Advisory Council of the Graduate
School of Management at University of California, Davis, and the Juvenile Justice Chaplaincy, and is
the Vice Chair of the board of directors and Chair of the Finance Committee of PRIDE Industries.
Compensation Committee, Chair
L e i g h W h i t e
Board Member
Ms. White has over 30 years of experience in key positions in television broadcast management
throughout the United States. From 2015 to 2020, Ms. White served as Vice President and General
Manager of KTXL-TV in Sacramento, California (FOX, Tribune Broadcasting). She is a graduate of the
University of Minnesota with a Bachelor of Science degree in Applied Studies / Communications.
She most recently graduated from the Saïd School of Business Digital Disruption Program at
the University of Oxford in Oxford, England. She is currently pursuing her Master of Business
Administration in Finance at Louisiana State University. Ms. White serves on the boards of Paratransit
and United Cerebral Palsy, both based in Sacramento. Ms. White retired from the board effective
January 2, 2025.
ALCO Committee, Chair
Strategy Committee, Member
D o n n a L u c a s
Board Member
Ms. Lucas is a highly regarded strategic communications consultant and the Founder and
Chief Executive Officer of Lucas Public Affairs ("LPA"), a firm she established in 2006. In May
2024, LPA was acquired by Public Policy Holding Company, Inc. (LSE: PPHC), listed on the London
Stock Exchange, with Ms. Lucas continuing in her role as CEO. Before founding LPA, Ms. Lucas
was the CEO of Nelson Communications, a leading California public affairs firm that was acquired
by Omnicom in 2000. Following the acquisition, she served as Global Partner and Public Affairs
Practice Leader for Porter Novelli. After her tenure at Porter Novelli, Ms. Lucas served as Deputy
Chief of Staff for Strategic Planning and Initiatives for Governor Arnold Schwarzenegger and later
as Chief of Staff for First Lady Maria Shriver. Earlier in her career, she held several other notable
positions, including Deputy Press Secretary for Governor George Deukmejian, Deputy Treasurer
for State Treasurer Tom Hayes, and California Press Secretary for the 1988 presidential campaign
of then-Vice President George H.W. Bush. Ms. Lucas has also served as the Chair of the California
Chamber of Commerce and the Chair of the College Futures Foundation. She was a member of
the Public Policy Institute of California ("PPIC") board of directors from 2007 to 2019, chairing the
board from 2013 to 2016, and continues to be involved with PPIC as a member of its Statewide
Leadership Council. She is a founding member of She Shares, a unique conversation series
featuring trailblazing women leaders who have made a lasting impact in California and beyond.
Recognized for her leadership, Ms. Lucas was named Sacramento Businesswoman of the Year in
2018 by the Sacramento Metro Chamber of Commerce and is routinely listed among Sacramento’s
most powerful and influential figures in Capitol Weekly’s annual “Top 100.”
Compensation Committee, Member
Dav i d N i c k u m
Board Member
Since 2010, Mr. Nickum has served as Owner and President of Waveco, Inc., d.b.a. Valley Farm
Transport, Inc., one of the largest agricultural trucking companies in the United States, after being
employed there in various capacities since 1988. Mr. Nickum is a past chair of Make-A-Wish Foundation
of Northeastern and Central California and Northern Nevada Chapter, a former board member of
St. Michael’s Episcopal Day School, and a past board member of Tesco Controls, Inc. Mr. Nickum
is also a former member of Cal Poly College of Agriculture, Food and Environmental Sciences’
Dean’s Advisory Council.
ALCO Committee, Member
K e v i n R a m o s
Board Member
Mr. Ramos is the Chief Investment Officer of Buzz Oates Commercial Real Estate, a position he has
held since 1995, and Investment Committee Chair of Pac West Industrial Equities, LP, a position he
has held since 2017. He has over 35 years of experience in the commercial real estate industry with
specific experience in finance, entitlement, development, leasing, property management, investment,
and asset management. He currently serves on the board of directors of Saint John’s Program for
Real Change and the Sacramento chapter of NAIOP, a national commercial real estate association.
Compensation Committee, Member
2024
Financial Summary
2 0 2 4 A N N U A L R E P O R T | 1 1 1
1 1 2 | F I V E S TA R B A N C O R P
2 0 2 4 A N N U A L R E P O R T | 1 1 3
Year ended December 31,
2024
2023
2022
Interest and fee income
Loans, including fees
$ 193,341
$ 162,713
$ 111,795
Taxable securities
1,830
1,876
1,714
Nontaxable securities
700
724
713
Interest-bearing deposits in banks
11,080
9,069
3,696
Total interest and fee income
206,951
174,382
117,918
Interest expense
Deposits
82,398
57,861
10,923
Subordinated notes
4,646
4,646
3,740
Other borrowings
196
995
185
Total interest expense
87,240
63,502
14,848
Net interest income
119,771
110,880
103,070
Provision for credit losses
6,950
4,000
6,700
Net interest income after provision for credit losses
112,761
106,880
96,370
Non-interest income
Service charges on deposit accounts
721
575
467
Net gain (loss) on sales of securities
–
(167)
5
Gain on sale of loans
1,274
1,952
2,934
Loan-related fees
1,605
1,719
2,207
Federal Home Loan Bank of San Francisco ("FHLB") stock dividends
1,320
970
546
Earnings on bank-owned life insurance
644
510
412
Other
889
1,952
586
Total non-interest income
6,453
7,511
7,157
Non-interest expense
Salaries and employee benefits
31,709
27,097
22,571
Occupancy and equipment
2,547
2,218
2,059
Data processing and software
5,088
4,015
3,091
Federal Deposit Insurance Corporation insurance
1,635
1,557
850
Professional services
3,078
2,575
2,467
Advertising and promotional
2,411
2,403
1,908
Loan-related expenses
1,207
1,192
1,287
Other operating expenses
6,818
6,718
6,436
Total non-interest expense
54,493
47,775
40,669
Income before provision for income taxes
64,721
66,616
62,858
Provision for income taxes
19,050
18,882
18,057
Net income
$ 45,671
$ 47,734
$ 44,801
Basic earnings per share
$ 2.26
$ 2.78
$ 2.61
Diluted earnings per share
$ 2.26
$ 2.78
$ 2.61
Consolidated Statements of Income
in thousands, except per share amounts
See notes to consolidated financial statements in our Annual Report on Form 10-K.
See notes to consolidated financial statements in our Annual Report on Form 10-K.
year ended December 31,
2024
2023
Assets
Cash and due from financial institutions
$ 33,882
$ 26,986
Interest-bearing deposits in banks
318,461
294,590
Cash and cash equivalents
352,343
321,576
Time deposits in banks
4,121
5,858
Securities available-for-sale, at fair value, net of allowance for credit losses
of $0 at December 31, 2024 and 2023 (amortized cost of $115,757 and $124,788
at December 31, 2024 and 2023, respectively)
98,194
108,083
Securities held-to-maturity, at amortized cost, net of allowance for credit
losses of $20 at December 31, 2024 and 2023 (fair value of $2,353 and $2,913
at December 31, 2024 and 2023, respectively)
2,720
3,077
Loans held for sale
3,247
11,464
Loans held for investment
3,532,686
3,081,719
Allowance for credit losses
(37,791)
(34,431)
Loans held for investment, net of allowance for credit losses
3,494,895
3,047,288
FHLB stock
15,000
15,000
Operating leases, right-of-use asset ("ROUA"), net
6,245
5,284
Premises and equipment, net
1,584
1,623
Bank-owned life insurance
19,375
17,180
Interest receivable and other assets
55,554
56,692
Total assets
$ 4,053,278
$ 3,593,125
Liabilities and Shareholders' Equity
Deposits
Non-interest-bearing
$ 922,629
$ 831,101
Interest-bearing
2,635,365
2,195,795
Total deposits
3,557,994
3,026,896
Subordinated notes, net
73,895
73,749
Other borrowings
–
170,000
Operating lease liability
6,857
5,603
Interest payable and other liabilities
17,908
31,103
Total liabilities
3,656,654
3,307,351
Shareholders' equity
Preferred stock, no par value; 10,000,000 shares authorized;
zero issued and outstanding at December 31, 2024 and 2023,
respectively
–
–
Common stock, no par value; 100,000,000 shares authorized;
21,319,083 shares issued and outstanding at December 31, 2024;
17,256,989 shares issued and outstanding at December 31, 2023
302,531
220,505
Retained earnings
106,464
77,036
Accumulated other comprehensive loss, net of taxes
(12,371)
(11,767)
Total shareholders' equity
396,624
285,774
Total liabilities and shareholders' equity
$ 4,053,278
$ 3,593,125
Consolidated Balance Sheets
in thousands, except share amounts
1 1 4 | F I V E S TA R B A N C O R P
2 0 2 4 A N N U A L R E P O R T | 1 1 5
Shares
Amount
Retained
Earnings
Accumulated
Other
Comprehensive
(Loss) Income
Total
Shareholders'
Equity
Balance at December 31, 2021
17,224,848
$ 218,444
$ 17,168
$ (566)
$ 235,046
Cumulative effect of adoption of
Accounting Standards Codification
("ASC") 842 on retained earnings
-
-
68
-
68
Net income
-
-
44,801
-
44,801
Other comprehensive loss
-
-
-
(12,888)
(12,888)
Stock issued under stock award plans
23,639
-
-
-
-
Stock compensation expense
-
1,099
-
-
1,099
Stock forfeitures
(6,561)
-
-
-
-
Cash dividends paid ($1.05 per share)
-
-
(15,301)
-
(15,301)
Balance at December 31, 2022
17,241,926
$ 219,543
$ 46,736
$ (13,454)
$ 252,825
Cumulative effect of adoption of
ASC 326 on retained earnings
-
-
(4,491)
-
(4,491)
Net income
-
-
47,734
-
47,734
Other comprehensive income
-
-
-
1,687
1,687
Stock issued under stock award plans
16,978
-
-
-
-
Stock compensation expense
-
962
-
-
962
Stock forfeitures
(1,915)
-
-
-
-
Cash dividends paid ($0.75 per share)
-
-
(12,943)
-
(12,943)
Balance at December 31, 2023
17,256,989
$ 220,505
$ 77,036
$ (11,767)
$ 285,774
Net income
-
-
45,671
-
45,671
Other comprehensive loss
-
-
-
(604)
(604)
Stock issued under stock award plans
96,380
-
-
-
-
Stock compensation expense
-
1,156
-
-
1,156
Stock forfeitures
(1,786)
-
-
-
-
Common stock issued
3,967,500
80,870
-
-
80,870
Cash dividends paid ($0.80 per share)
-
-
(16,243)
-
(16,243)
Balance at December 31, 2024
21,319,083
$ 302,531
$ 106,464
$ (12,371)
$ 396,624
Consolidated Statements of Changes in Shareholders' Equity
in thousands, except share and per share amounts
Common Stock
year ended December 31,
2024
2023
2022
Cash flows from operating activities
Net income
$ 45,671
$ 47,734
$ 44,801
Adjustments to reconcile net income to net cash
provided by operating activities:
Provision for credit losses
6,950
4,000
6,700
Depreciation and amortization
1,877
1,612
1,636
Amortization of deferred loan fees and costs
(337)
117
534
Amortization of premiums and discounts on securities
943
1,152
1,267
Amortization of subordinated note issuance costs
146
144
122
Amortization of low income housing tax credits
1,050
291
-
Stock compensation expense
1,156
962
1,099
Earnings on bank-owned life insurance
(644)
(510)
(412)
Deferred tax provision
(243)
(897)
(1,942)
Loans originated for sale
(21,654)
(47,922)
(60,173)
Gain on sale of loans
(1,274)
(1,952)
(2,934)
Gross proceeds from sale of loans
19,682
38,410
53,691
Net loss (gain) on sale of securities available-for-sale
-
167
(5)
Extinguishment of redeemed subordinated note issuance costs
-
-
302
Gain on partial sale of equity investment
(545)
(1,683)
-
Net changes in:
Interest receivable and other assets
2,535
(3,708)
(5,096)
Interest payable and other liabilities
(2,611)
1,897
7,363
Operating lease liability
(916)
(900)
(978)
Net cash provided by operating activities
51,786
38,914
45,975
Cash flows from investing activities
Proceeds from sale of securities available-for-sale
-
737
1,623
Maturities, prepayments, and calls of securities available-for-sale
8,445
10,056
15,523
Purchases of securities available-for-sale
-
(1,151)
(2,642)
Capital call for equity investment
(2,908)
(1,407)
-
Proceeds received from equity investment
1,056
1,915
-
Low income housing tax credits
(10,052)
(2,341)
-
Net change in time deposits in banks
1,737
3,991
4,615
Loan originations, net of repayments
(442,843)
(284,314)
(848,283)
Purchase of premises and equipment
(628)
(653)
(481)
Purchase of FHLB stock
-
(4,110)
(4,223)
Purchase of bank-owned life insurance
(1,551)
(2,001)
(3,054)
Net cash used in investing activities
(446,744)
(279,278)
(836,922)
Consolidated Statements of Cash Flows
in thousands
See notes to consolidated financial statements in our Annual Report on Form 10-K.
See notes to consolidated financial statements in our Annual Report on Form 10-K.
Continues on next page
1 1 6 | F I V E S TA R B A N C O R P
2 0 2 4 A N N U A L R E P O R T | 1 1 7
Consolidated Statements of Cash Flows (Continued)
in thousands
Consolidated Statements of Comprehensive Income
in thousands
Year ended December 31,
2024
2023
2022
Cash flows from Financing Activities
Net change in deposits
$ 531,098
$ 244,892
$ 496,114
Proceeds from issuance of stock, net of issuance costs
80,870
-
-
(Payments) advances on other borrowings
(170,000)
70,000
100,000
Cash dividends paid
(16,243)
(12,943)
(15,301)
Proceeds from subordinated note issuance
-
-
75,000
Subordinated note issuance costs
-
-
(1,454)
Subordinated note redemption
-
-
(28,750)
Net cash provided by financing activities
425,725
301,949
625,609
Net change in cash and cash equivalents
30,767
61,585
(165,338)
Cash and cash equivalents at beginning of period
321,576
259,991
425,329
Cash and cash equivalents at end of period
$ 352,343
$ 321,576
$ 259,991
Supplemental disclosure of cash flow information
Interest paid
$ 87,113
$ 61,854
$ 1,345
Income taxes paid
16,884
19,969
5,200
Supplemental disclosure of noncash items
Transfer from loans held for sale to loans held for investment
11,464
9,416
10,671
Unrealized (loss) gain on securities
(858)
2,228
(18,291)
Operating lease liabilities recorded in conjunction with
adoption of ASC 842
-
-
5,221
Operating lease liabilities exchanged for ROUA
2,170
2,260
-
ROUA recorded in conjunction with adoption of ASC 842
-
-
4,974
ROUA acquired
(2,170)
(2,243)
-
Net change in commitment for low income housing tax credits
531
(13,612)
-
Cumulative effect of adoption of ASC 842 on retained earnings, net of tax
-
-
68
Cumulative effect of adoption of ASC 326 on retained earnings, net of tax
-
(4,491)
-
Year ended December 31,
2024
2023
2022
Net income
$ 45,671
$ 47,734
$ 44,801
Net unrealized holding (loss) gain on securities
available-for-sale during the period
(858)
2,228
(18,291)
Reclassification for net loss (gain) on sale of securities
included in net income
-
167
(5)
Less: Income tax (benefit) expense related to items of other
comprehensive (loss) income
(254)
708
(5,408)
Other comprehensive (loss) income
(604)
1,687
(12,888)
Total comprehensive income
$ 45,067
$ 49,421
$ 31,913
See notes to consolidated financial statements in our Annual Report on Form 10-K.
Five Star Bancorp Common Stock
The Company’s common stock, no par value per share, is traded on the Nasdaq Global Select Market under the
symbol “FSBC.” As of December 31, 2024, there were 127 holders of record of the Company’s common stock.
Additional Information and Where to Find It
In accordance with the Securities Exchange Act of 1934 (Exchange Act), the Company files annual reports on
Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and proxy statements for the annual
meeting of shareholders, copies of which are also available in the Investor Relations section of our website at
https://investors.fivestarbank.com/financial-information/sec-filings, or upon written request to us at
Corporate Secretary, Five Star Bancorp, 3100 Zinfandel Drive, Suite 100, Rancho Cordova, California 95670.
This document contains forward-looking statements
within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements
represent plans, estimates, objectives, goals, guidelines,
expectations, intentions, projections, and statements
of the Company’s beliefs concerning future events,
business plans, objectives, expected operating results,
and the assumptions upon which those statements are
based. Forward-looking statements include without
limitation, any statement that may predict, forecast,
indicate, or imply future results, performance, or
achievements, and are typically identified with words
such as “may,” “could,” “should,” “will,” “would,” “believe,”
“anticipate,” “estimate,” “expect,” “aim,” “intend,” “plan,”
or words or phases of similar meaning. The Company
cautions that the forward-looking statements are
based largely on the Company’s expectations and
are subject to a number of known and unknown risks
and uncertainties that are subject to change based
on factors which are, in many instances, beyond the
Company’s control. Such forward-looking statements
are based on various assumptions (some of which may
be beyond the Company’s control) and are subject
to risks and uncertainties, which change over time,
and other factors which could cause actual results
to differ materially from those currently anticipated.
New risks and uncertainties may emerge from time
to time, and it is not possible for the Company to
predict their occurrence or how they will affect the
Company. If one or more of the factors affecting the
Company’s forward-looking information and statements
proves incorrect, then the Company’s actual results,
performance, or achievements could differ materially
from those expressed in, or implied by, forward-looking
information and statements contained in this press
release. Therefore, the Company cautions you not
to place undue reliance on the Company’s forward-
looking information and statements. Important factors
that could cause actual results to differ materially from
those in the forward-looking statements are set forth
in the Company’s Annual Report on Form 10-K for
the year ended December 31, 2024 under the section
entitled “Risk Factors,” and other documents filed by the
Company with the Securities and Exchange Commission
from time to time.
The Company disclaims any duty to revise or update the
forward-looking statements, whether written or oral, to
reflect actual results or changes in the factors affecting
the forward-looking statements, except as specifically
required by law.
Forward – Looking Statements
Locations
C h i c o B A N K I N G O f f i c e
1370 E. Lassen Avenue, Suite 100
Chico, CA 95973
530.924.5121
D ow n t ow n S ac r a m e n t o
O f f i c e ( N o n - D e p o s i t o r y )
555 Capitol Mall, Suite 985
Sacramento, CA 95814
916.306.1655
E l k G r ov e B A N K I N G O f f i c e
9250 Laguna Springs Drive, Suite 102
Elk Grove, CA 95758
916.714.2444
N at o m a s B A N K I N G O f f i c e
2400 Del Paso Road, Suite 100
Sacramento, CA 95834
916.640.1500
R a n c h o C o r d ova
B A N K I N G O f f i c e
3100 Zinfandel Drive, Suite 100
Rancho Cordova, CA 95670
916.851.5440
R e d d i n g B A N K I N G O f f i c e
358 Hartnell Avenue, Suite B
Redding, CA 96002
530.223.6652
R o s e v i l l e B A N K I N G O f f i c e
2240 Douglas Boulevard, Suite 100
Roseville, CA 95661
916.626.5000
s a n f r a n c i s c o
B A N K I N G O f f i c e
345 California Street, Suite 2875
San Francisco, CA 94104
415.278.7400
Y u b a C i t y B A N K I N G O f f i c e
855 Harter Parkway, Suite 350B
Yuba City, CA 95993
530.431.0950
1 1 8 | F I V E S TA R B A N C O R P
Five Star Bancorp maintains a healthy, sustainable environment
through the responsible use of renewable resources.
Printed on Forest Stewardship Council® certified paper.
The FSC®’s mission is to promote environmentally
sound, socially beneficial, and economically prosperous
management of the world’s forests.
3100 Zinfandel Drive, Suite 100
Rancho Cordova, California 95670
916.851.5440
fivestarbank.com