Five Star Bancorp Announces Pricing Of $70.9M Offering Of 3.45M Shares Of Common Stock At A Price Of $21.75 Per Share

(March 28, 2024) – Five Star Bancorp (NASDAQ:FSBC) ("Five Star" or the "Company"), a holding company that operates through its wholly owned banking subsidiary, Five Star Bank (the "Bank"), announced today the pricing of the previously announced underwritten public offering of 3,450,000 shares of its common stock at a public offering price of $21.75 per share. The expected proceeds to the Company, after deducting underwriting discounts and commissions but before deducting offering expenses payable by the Company, are approximately $70.9 million. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 517,500 shares of Company common stock at the public offering price, less underwriting discounts and commissions.

Keefe, Bruyette & Woods, A Stifel Company is acting as the bookrunner for the offering. Stephens Inc. and D.A. Davidson & Co. are acting as co-managers.

The Company intends to use the net proceeds of this offering for general corporate purposes and to support its continued growth, including through investments in the Bank to pursue growth opportunities, and for working capital.

The Company expects to close the offering, subject to customary conditions, on or about April 2, 2024.