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Five Star Bancorp Announces Quarterly Results October 25 , 2021 RANCHO CORDOVA , Calif . , Oct. 25 , 2021 ( GLOBE NEWSWIRE ) -- Five Star Bancorp ( Nasdaq : FSBC ) ( the " Company " or " Five Star ” ) , the holding company for Five Star Bank , today reported net income of $ 11.0 million for the quarter ended September 30 , 2021 , compared to $ 9.8 million during the quarter ended June 30 , 2021 and $ 9.3 million during the quarter ended September 30 , 2020 . Financial Highlights During the second quarter of 2021 , the Company terminated its status as a “ Subchapter S " corporation in connection with its initial public offering ( " IPO " ) . As such , results presented for the three months ended September 30 , 2020 have been calculated using a 3.50 % S Corporation tax rate , while results presented for the three months ended June 30 , 2021 and September 30 , 2021 have been calculated using a weighted average tax rate of 20.77 % as noted in the section titled " Provision for Income Taxes " herein . Performance highlights and other developments for the Company as of and for the three months ended September 30 , 2021 included the following : • Diluted earnings per share was $ 0.64 for the third quarter of 2021 , compared to $ 0.67 for the second quarter of 2021 and $ 0.94 for the third quarter of 2020. Earnings per share was as follows : Basic earnings per common share Diluted earnings per common share Weighted average basic common shares outstanding Weighted average diluted common shares Sep 30 , 2021 For the three months ended Jun 30 , 2021 Sep 30 , 2020 $ $ 0.64 $ 0.64 $ 17,095,957 17,123,182 0.67 $ 0.67 $ 14,650,208 0.94 0.94 9,902,952 14,667,804 9,902,952 • Loan and deposit growth as of September 30 , 2021 , as compared to June 30 , 2021 , were as follows : As of ( dollars in thousands ) Total loans , excluding Paycheck Protection Program ( " PPP " ) loans $ Sep 30 , 2021 1,648,483 $ Jun 30 , 2021 $ Change 1,466,866 $ 181,617 % Change 12.38 % PPP loans PPP deferred fees 61,499 1,706 120,936 ( 59,437 ) ( 49.15 ) % 3,534 ( 1,828 ) ( 51.73 ) % Non - interest - bearing deposits Interest - bearing deposits 895,468 1,272,926 829,036 1,237,249 66,432 8.01 % 35,677 2.88 % • PPP fee income recognized during the quarter ended September 30 , 2021 totaled $ 1.8 million , as compared to $ 1.4 million and $ 1.0 million for the quarters ended June 30 , 2021 and September 30 , 2020 , respectively . • As of September 30 , 2021 , the Company reported total loans , total assets , and total deposits of $ 1.7 billion , $ 2.4 billion , and $ 2.2 billion , respectively , as compared to $ 1.5 billion , $ 2.0 billion , and $ 1.8 billion , respectively , at December 31 , 2020 . • During the three months ended September 30 , 2021 and the three months ended June 30 , 2021 , the Company did not record a provision for loan losses , as compared to a provision of $ 1.9 million recorded during the three months ended September 30 , 2020 . • As of September 30 , 2021 , the ratio of nonperforming loans to period end loans of 0.03 % remained unchanged , as compared to December 31 , 2020 . • For the quarter ended September 30 , 2021 , net interest margin was 3.60 % , as compared to 3.48 % for the quarter ended June 30 , 2021 and 3.30 % for the quarter ended September 30 , 2020 . • The Company's Board of Directors declared , and the Company subsequently paid , a cash dividend of $ 0.15 per share during the three months ended September 30 , 2021 . • For the three months ended September 30 , 2021 , the Company's return on average assets ( " ROAA " ) was 1.85 % and the