Five Star Bancorp Names New Board Chair & Vice Chair

RANCHO CORDOVA, Calif., March 22, 2023 (GLOBE NEWSWIRE) -- Five Star Bancorp (Nasdaq: FSBC) and its wholly owned subsidiary, Five Star Bank, (“Five Star” or the “Company”) are pleased to announce Robert T. Perry-Smith will be appointed Chairperson of the Company’s board of directors, and Randall Reynoso will be appointed Vice Chairperson, effective May 18, 2023. Mr. Perry-Smith will succeed David Lucchetti who recently announced his retirement after serving as Chair for four years.

In March 2023, Five Star Bank earned the #1 ranking on the S&P Global Market Intelligence annual rankings of 2022’s best-performing community banks in the nation with assets between $3 billion and $10 billion (having outperformed the median for all 196 banks in the analysis in all seven metrics analyzed). Five Star Bancorp also has a Bauer Financial Superior Rating (5 out of 5 stars), IDC Superior Rating (300 out of 300) and is a Super Premier Performing Bank with The Findley Reports.

“I am honored and humbled by the board’s confidence and thrilled to assume this important role at a very exciting time for Five Star Bank,” said Perry-Smith. “The needs of Five Star Bank’s clients, shareholders and employees are changing in the current banking environment and we are thoughtfully managing current conditions. In my new role, I look forward to Five Star’s continued success and commitment to our community as we build upon the strength of our organization.”

“Bob has been extremely active on the board, serving as Chair of the audit committee as well as a member of the compensation committee and strategy committee,” said James Beckwith, President and Chief Executive Officer. “We are very fortunate to have his vast expertise and depth of knowledge, both of which make him uniquely qualified for this appointment. We also thank Dave for his exceptional leadership and guidance over the past twenty years. Dave assumed the Chairperson role in 2019, a critical time in the development of the bank, and advised us through a global pandemic, the bank’s very successful Initial Public Offering in May 2021 and our growth as we met the demands of our market. We are grateful for his leadership and have been blessed by his steady hand. We congratulate him on his retirement and look to the future with great optimism.”