Five Star Bancorp (NASDAQ:FSBC) Q3 2022 Earnings Conference Call October 25, 2022 1:00 PM ET

Company Participants

James Beckwith - President and CEO

Heather Luck - Senior Vice President and CFO

Conference Call Participants

Andrew Terrell - Stephens

Gary Tenner - D.A. Davidson

Woody Lay - KBW

Operator

Good day, everyone. And welcome to the Five Star Bancorp Third Quarter Earnings Webcast. Please note, this is a closed conference call and you are encouraged to listen via the webcast. After today’s presentation, there will be an opportunity for those provided with a dial-in numbers to ask question. [Operator Instructions]

Before we get started, let me remind you that today’s meeting will include some forward-looking statements within the meaning of applicable securities laws. These forward-looking statements relate to among other things, current plans, expectations, events including the continuing impact of the COVID-19 pandemic and industry trends that may affect the company’s future operating results and financial position.

Such statements involve risks and uncertainties and future activities and results may differ materially from these expectations. For a more complete discussion of the risks and uncertainties that may cause actual results to differ materially from the company’s forward-looking statements, please see the company’s annual report on Form 10-K for the year ended December 31, 2021, and in particular the information set forth in Item 1A Risk Factors therein.

Please refer to slide two of the presentation, which includes disclaimers regarding forward-looking statements, industry data and non-GAAP financial information included in this presentation, as well as reconciliations to non-GAAP financial measures to the most directly comparable GAAP figures, which is included in the appendix to the presentation. Please note this event is being recorded.

And at this time, I’d like to turn the floor over to James Beckwith, Five Star Bancorp President and CEO. Please go ahead.

James Beckwith

Thank you for joining us to review Five Star Bancorp’s financial results for the third quarter of 2022. Joining me today is Heather Luck, Senior Vice President and Chief Financial Officer. Our comments today will refer to the financial information that was included in the earnings announcement released yesterday. To obtain a copy of the release, please visit our website at fivestarbank.com and click on the Investor Relations tab. In the company overview section, we have provided a brief overview of our geographic footprint and executive management team.

The third quarter of 2022 exhibited continued execution of our organic growth strategy, as evidenced by our earnings, expense management and balance sheet trends during the quarter. Additionally loans, deposits and total assets have consistently grown since the prior periods. Our pipeline continues to remain substantial at the end of the third quarter of 2022 within the verticals we have historically operated in, as presented in the loan portfolio diversification slide.