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

Five Star Bancorp seeks to fill a San Francisco Bay Area gap in high-tech, personalized concierge banking left by Silicon Valley Bank and First Republic Bank failures

RANCHO CORDOVA, Calif., Feb. 21, 2024 (GLOBE NEWSWIRE) -- 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.