04:49 PM EDT, 03/27/2024 (MT Newswires) -- Five Star Bancorp ( FSBC ) said Wednesday it has initiated an underwritten public offering of its common shares.

The company said it plans to grant the underwriters a 30-day option to purchase additional shares.

The size and pricing of the offer weren't disclosed.

The company said it intends to use the proceeds for general corporate purposes and working capital.

The company's shares fell more than 3% in after-hours activity.

Price: 23.01, Change: -0.79, Percent Change: -3.32