Five Star Bancorp invests in San Francisco Bay Area expansion strategy by hiring five commercial banking professionals and planning full-service office in San Francisco
21 Febbraio 2024 - 6:45PM
Five Star Bancorp (Nasdaq: FSBC) (“Five Star” or the “Company”)
announced the hiring of a team of five seasoned commercial banking
professionals in San Francisco to advance the Company’s expansion
strategy in the San Francisco Bay Area. The Company also announced
it expects to open a full-service office at 345 California Street,
San Francisco, in the third quarter of 2024.
The Company is adding five members to an existing team of proven
Bay Area commercial banking professionals led by Five Star Bank’s
San Francisco Bay Area Region President DJ Kurtze. The team will
champion clients and advocate for the community while focusing on
the acquisition and retention of new clients.
“We continue to build momentum in the San Francisco Bay Area as
we welcome a team of five well-respected and highly experienced
professionals who we believe will enhance our expansion efforts in
the Bay Area. We have gained considerable traction in onboarding
new Bay Area clients who have learned about our extensive and
high-tech business banking capabilities,” said Five Star Bank Chief
Executive Officer James Beckwith.
“There is a gap in San Francisco commercial banking left from
Silicon Valley Bank and First Republic Bank failures. That is why
the Bay Area entrepreneurial community has been seeking a Northern
California bank that provides a high-touch, highly personalized
concierge banking experience. Our clients can count on our team to
listen to and support their interests, which we expect will benefit
communities through regional economic growth for many years to
come. Our clients trust us – and we believe in them,” said
Kurtze.
Headquartered in Rancho Cordova, California, Five Star Bank is a
commercial bank that regularly earns top industry awards, ratings
and recognition. The Company was named the best performing U.S.
community bank with assets between $3 billion and $10 billion in
the 2022 S&P Global Market Intelligence annual ranking of
best-performing community banks in the United States. Five Star
Bank was also awarded the 2022 Raymond James Community Bankers Cup
recognizing the top 10% of community banks in the nation based on
various profitability, operational efficiency and balance sheet
metrics. Banks considered for the 2022 Raymond James Community
Bankers Cup include all exchange-traded domestic banks, excluding
mutual holding companies and potential acquisition targets, with
assets between $500 million and $10 billion as of December 31,
2022.
About Five Star BancorpFive Star is a bank
holding company headquartered in Rancho Cordova, California. Five
Star operates through its wholly owned banking subsidiary, Five
Star Bank. The Bank has seven branches in Northern California. For
more information visit https://www.fivestarbank.com/.
Forward-Looking StatementsThis press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements represent plans, estimates, objectives,
goals, guidelines, expectations, intentions, projections, and
statements of the Company’s beliefs concerning future events,
business plans, objectives, expected operating results, and the
assumptions upon which those statements are based. Forward-looking
statements include without limitation, any statement that may
predict, forecast, indicate, or imply future results, performance,
or achievements, and are typically identified with words such as
“may”, “could”, “should”, “will”, “would”, “believe”, “anticipate”,
“estimate”, “expect”, “aim”, “intend”, “plan” or words or phases of
similar meaning. The Company cautions that the forward-looking
statements are based largely on the Company’s expectations and are
subject to a number of known and unknown risks and uncertainties
that are subject to change based on factors which are, in many
instances, beyond the Company’s control. Such forward-looking
statements are based on various assumptions (some of which may be
beyond the Company’s control) and are subject to risks and
uncertainties, which change over time, and other factors, which
could cause actual results to differ materially from those
currently anticipated. New risks and uncertainties may emerge from
time to time, and it is not possible for the Company to predict
their occurrence or how they will affect the Company. If one or
more of the factors affecting the Company’s forward-looking
information and statements proves incorrect, then the Company’s
actual results, performance, or achievements could differ
materially from those expressed in, or implied by, forward-looking
information and statements contained in this press release.
Therefore, the Company cautions you not to place undue reliance on
the Company’s forward-looking information and statements. Important
factors that could cause actual results to differ materially from
those in the forward-looking statements are set forth in the
Company’s Annual Report on Form 10-K for the year ended
December 31, 2022 and Quarterly Report on Form 10-Q for the
quarter ended September 30, 2023, in each case under the section
entitled “Risk Factors,” and other documents filed by the Company
with the Securities and Exchange Commission from time to time.
The Company disclaims any duty to revise or update the
forward-looking statements, whether written or oral, to reflect
actual results or changes in the factors affecting the
forward-looking statements, except as specifically required by
law.
Media Contact:Heather C. Luck, Chief Financial
OfficerFive Star Bancorp (916) 626-5008hluck@fivestarbank.com
Shelley R. Wetton, Chief Marketing OfficerFive Star Bancorp(916)
284-7827swetton@fivestarbank.com
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