Overview

* Five Star Bancorp's ( FSBC ) Q3 net income rises to $16.3 mln, up from $14.5 mln in Q2

* Net interest income for Q3 increased by $2.8 mln from Q2, driven by loan growth

* The lender opened a new office in Walnut Creek, California, boosting Bay Area deposits

Outlook

* Company did not provide specific guidance for future quarters or full year

Result Drivers

* LOAN AND DEPOSIT GROWTH - Co attributes Q3 results to significant increases in loans and core deposits, driven by organic growth strategy

* BAY AREA EXPANSION - New Walnut Creek office opened in Q3, boosting Bay Area deposits by $91.9 mln sequentially

* NON-WHOLESALE DEPOSITS - Increase in non-wholesale deposits by $359 mln in the quarter, offsetting decline in wholesale deposits

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.77

Q3 Net $16.3

Income mln

Q3 Net $39.3

Interest mln

Income

Q3 Net 3.56%

Interest

Margin

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the bank's peer group is "buy"

* Wall Street's median 12-month price target for Five Star Bancorp ( FSBC ) is $35.00, about 1.7% below its October 27 closing price of $35.58

* The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)