Five Star Bank

Financial Institutions, Inc. Announces Second Quarter 2023 Results

Retrieved on: 
Donnerstag, Juli 27, 2023
External commercial borrowing, Insurance, Maintenance, Risk-weighted asset, Five Star Bank, Bank statement, Upstate New York, TCE, Risk management, Income tax, Common equity, FDIC, Financial institution, Sale, Federal Reserve, Investment, Nature, As a service, Growth, Environment, Tier 1 capital, Common, Financial adviser, Video game, Beauty salon, Rare-earth element, Bank, Life insurance, Financial services, Security (finance), Cryptocurrency, Real estate

Net income was $14.4 million for the second quarter of 2023, compared to $12.1 million in the first quarter of 2023 and $15.6 million in the second quarter of 2022.

Key Points: 
  • Net income was $14.4 million for the second quarter of 2023, compared to $12.1 million in the first quarter of 2023 and $15.6 million in the second quarter of 2022.
  • Noninterest income was $11.5 million for the second quarter of 2023, an increase of $542 thousand from the first quarter of 2023 and an increase of $106 thousand from the second quarter of 2022.
  • Noninterest expense was $33.8 million in the second quarter of 2023 compared to $33.7 million in the first quarter of 2023 and $32.9 million in the second quarter of 2022.
  • The effective tax rate was 14.4% for the second quarter of 2023, 18.7% for the first quarter of 2023, and 19.8% for the second quarter of 2022.

KBRA Affirms Ratings for Five Star Bancorp

Retrieved on: 
Mittwoch, Juli 26, 2023
Banking, Professional Services, Finance, Pressure, S corporation, Five Star Bank, KBRA, MHC, Sale, Outlook, BBB, ROA, MSA, Risk, SBA, Growth, CRE, Bank, K2, K3

KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Rancho Cordova, CA-based Five Star Bancorp (NASDAQ: FSBC) (“the company”).

Key Points: 
  • KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Rancho Cordova, CA-based Five Star Bancorp (NASDAQ: FSBC) (“the company”).
  • In addition, KBRA affirms the deposit and senior unsecured debt ratings of BBB+, the subordinated debt rating of BBB, and the short-term deposit and debt ratings of K2 for Five Star Bank, the main subsidiary.
  • The ratings reflect the company’s durable, branch-based deposit franchise located predominantly in the Sacramento, CA MSA, providing the bank access to public agency, nonprofit, and other association deposit customers.
  • Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com .

Five Star Bank Promotes Scott Bader to Chief Information Security Officer

Retrieved on: 
Montag, Juli 24, 2023
Quaternary, Marine Corps Expeditionary Medal, Senior, Five Star Bank, Privacy, Financial institution, Information, Tri Counties Bank, Hockey, Growth, Bank, Florida Gulf Coast University, United Way, Information system, Management

WARSAW, N.Y., July 24, 2023 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), parent company of Five Star Bank, SDN Insurance Agency, LLC, and Courier Capital, LLC, announced today that Scott Bader has been promoted to Senior Vice President and Chief Information Security Officer (“CISO”) of the Bank.

Key Points: 
  • WARSAW, N.Y., July 24, 2023 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), parent company of Five Star Bank, SDN Insurance Agency, LLC, and Courier Capital, LLC, announced today that Scott Bader has been promoted to Senior Vice President and Chief Information Security Officer (“CISO”) of the Bank.
  • In his role, Mr. Bader will be responsible for the execution and evolution of the Bank’s comprehensive information and cybersecurity program, as well as compliance with statutory and regulatory requirements regarding information access, security and privacy.
  • “Scott is an exceptional and proven leader who I’m confident will help the Bank achieve its strategic goals while ensuring customer and bank information is maintained in a highly secure manner,” said Gary Pacos, Chief Risk Officer of Five Star Bank.
  • From 2010 to 2014, as Senior Vice President and Information Security Officer and Technology Services Manager, he led the launch of the Bank’s information security program.

Financial Institutions, Inc. Schedules Second Quarter 2023 Earnings Release and Conference Call

Retrieved on: 
Montag, Juli 3, 2023
Financial institution, Five Star Bank, Financial adviser, Broadcasting

WARSAW, N.Y., July 03, 2023 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), the parent company of Five Star Bank, SDN Insurance Agency, LLC, and Courier Capital, LLC, will release results for the second quarter ended June 30, 2023 after the market closes on July 27, 2023.

Key Points: 
  • WARSAW, N.Y., July 03, 2023 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), the parent company of Five Star Bank, SDN Insurance Agency, LLC, and Courier Capital, LLC, will release results for the second quarter ended June 30, 2023 after the market closes on July 27, 2023.
  • Management will host an earnings conference call and audio webcast on July 28, 2023 at 8:30 a.m. Eastern Time.
  • The call will be hosted by Martin K. Birmingham, President and Chief Executive Officer, and W. Jack Plants II, Chief Financial Officer and Treasurer.
  • Within the United States, listeners may also access the call by dialing 1-833-470-1428 and providing the access code 588237.

Autobooks Enables Tap to Pay on iPhone for Financial Institutions to Offer Contactless Payment Acceptance within Their Mobile Banking Apps

Retrieved on: 
Dienstag, Juni 20, 2023
Small business, IPhone, FIS (company), XS, Partnership, Apple Pay, Star Bank, Five Star Bank, Q2, EVP, FIS, PSP, Apple Watch, IOS, NFC, Apple, CSI, IPhone XS, Mobile phone

DETROIT, June 20, 2023 /PRNewswire-PRWeb/ -- Autobooks, the small business payment and accounting platform embedded into more than 1,500 financial institutions, has enabled its U.S. customers to seamlessly and securely accept in-person contactless payments with Tap to Pay on iPhone. Today, business customers at Five Star Bank and nbkc bank can begin accepting in-person contactless payments using Tap to Pay on iPhone directly within their mobile banking app — provided by Q2.

Key Points: 
  • Tap to Pay on iPhone accepts all forms of contactless payments, including Apple Pay, contactless credit and debit cards and other digital wallets, using only an iPhone and a supporting iOS mobile banking app — no additional hardware or payment terminal needed.
  • "Offering Tap to Pay on iPhone empowers Five Star Bank customers to accept payments on the go, directly from our mobile banking app on their iPhone."
  • Tap to Pay on iPhone, delivered through Autobooks, enables financial institutions to offer a contactless payment acceptance solution that is easy to set up and use.
  • Apple's Tap to Pay on iPhone contactless payment acceptance technology uses the built-in features of iPhone to keep the businesses' and customers' data private and secure.

Five Star Bancorp Expands into San Francisco Bay Area with Addition of Commercial Banking Team

Retrieved on: 
Montag, Juni 5, 2023
Star Bank, Five Star Bank, Star, S&P Global, Acquisition, Cryptocurrency, San Francisco Bay Area

The Company is leveraging an existing team of proven Bay Area professionals led by DJ Kurtze, Five Star Bank’s San Francisco Bay Area Region President, to execute on the acquisition and retention of new clients.

Key Points: 
  • The Company is leveraging an existing team of proven Bay Area professionals led by DJ Kurtze, Five Star Bank’s San Francisco Bay Area Region President, to execute on the acquisition and retention of new clients.
  • Five Star expects to open a Loan Production Office in, or around, the San Francisco Financial District in the coming months.
  • “We are pleased to announce the beginning of our regional expansion into the San Francisco Bay Area where we already have deep roots, existing relationships and extensive connectivity,” said Chief Executive Officer, James Beckwith.
  • We believe in San Francisco and have confidence in the region’s robust talent pipeline and the strength of its diverse and competitive business environment.

Financial Institutions, Inc. Announces Quarterly Cash Dividend

Retrieved on: 
Mittwoch, Mai 24, 2023
Financial institution, Five Star Bank, Series, Holding company

WARSAW, N.Y., May 24, 2023 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), parent company of Five Star Bank, SDN Insurance Agency, LLC, and Courier Capital, LLC, announced today that its Board of Directors has approved a quarterly cash dividend of $0.30 per outstanding common share.

Key Points: 
  • WARSAW, N.Y., May 24, 2023 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), parent company of Five Star Bank, SDN Insurance Agency, LLC, and Courier Capital, LLC, announced today that its Board of Directors has approved a quarterly cash dividend of $0.30 per outstanding common share.
  • The Company also announced dividends of $0.75 per share on its Series A 3% preferred stock and $2.12 per share on its Series B-1 8.48% preferred stock.
  • All dividends are payable July 3, 2023, to shareholders of record on June 15, 2023.

Safe Harbor Financial Announces First Quarter 2023 Financial Results

Retrieved on: 
Montag, Mai 15, 2023
PCCU, Advertising, Partnership, Activity, Star Bank, Marketing, Five Star Bank, Tax, FI, SHF, Financial institution, Safe harbor, EBITDA, Webcast, Depreciation, Adjustment, Cryptocurrency, Drug, Bank, D.C

GOLDEN, Colo., May 15, 2023 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe Harbor” or the “Company”) (NASDAQ: SHFS), a leader in facilitating financial services and credit facilities to the regulated cannabis industry, today announced its financial results for the quarter ended March 31, 2023 (“Q1 2023”). All financial information is provided in U.S. dollars unless otherwise indicated and is prepared under U.S. Generally Accepted Accounting Principles (“GAAP”).

Key Points: 
  • - Processed a record $1.1 billion in deposits; monthly average balances on deposit increased 55% versus the same prior year period -
    - Significantly strengthened balance sheet, reduced total debt obligations by more than 60% -
    GOLDEN, Colo., May 15, 2023 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe Harbor” or the “Company”) (NASDAQ: SHFS), a leader in facilitating financial services and credit facilities to the regulated cannabis industry, today announced its financial results for the quarter ended March 31, 2023 (“Q1 2023”).
  • All financial information is provided in U.S. dollars unless otherwise indicated and is prepared under U.S. Generally Accepted Accounting Principles (“GAAP”).
  • On May 11, 2023, Safe Harbor announced its partnership with Five Star Bank, a New York-based subsidiary of Financial Institutions, Inc. (NASDAQ:FISI), to expand crucial access to cannabis banking nationwide.
  • Safe Harbor Financial discloses EBITDA, a non-GAAP financial measure calculated as net income before taxes and depreciation and amortization expense.

Safe Harbor Financial Partners with Five Star Bank to Create a Potential Billion-Dollar Growth Opportunity for Cannabis Banking

Retrieved on: 
Donnerstag, Mai 11, 2023
Treasury, Fintech, Financial institution, Partnership, SHF, Harbor, Safe harbor, Five Star Bank, Drug

WARSAW, N.Y. and GOLDEN, Colo., May 11, 2023 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a/ Safe Harbor Financial ("Safe Harbor") (NASDAQ: SHFS ), a leader in facilitating financial services and credit facilities to the regulated cannabis industry, and Five Star Bank, a New York-based subsidiary of Financial Institutions, Inc. (NASDAQ:FISI), are partnering to expand crucial access to cannabis banking nationwide.

Key Points: 
  • WARSAW, N.Y. and GOLDEN, Colo., May 11, 2023 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a/ Safe Harbor Financial ("Safe Harbor") (NASDAQ: SHFS ), a leader in facilitating financial services and credit facilities to the regulated cannabis industry, and Five Star Bank, a New York-based subsidiary of Financial Institutions, Inc. (NASDAQ:FISI), are partnering to expand crucial access to cannabis banking nationwide.
  • Safe Harbor’s fintech platform provides a single point of access for commercial deposit bank accounts, access to payment services and treasury management for licensed cannabis businesses through its network of partner financial institutions.
  • “Safe Harbor Financial is a strong, reliable fintech partner with deep domain expertise,” said Sean Willett, Chief Administrative Officer of Five Star Bank.
  • Five Star Bank’s commitment to fintech enablement uniquely positions Safe Harbor to increase our capacity and continue our national expansion plan.”

Financial Institutions, Inc. Subsidiaries Courier Capital, LLC and HNP Capital, LLC Complete Merger

Retrieved on: 
Montag, Mai 1, 2023
Five Star Bank, HNP, Research, Financial institution, Acquisition, Capital, Financial services

WARSAW, N.Y., May 01, 2023 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”) today announced the completion of the merger of its wholly-owned SEC-registered investment advisory firms on May 1, 2023, under which HNP Capital, LLC (“HNP Capital”) merged with and into Courier Capital, LLC (“Courier Capital”).

Key Points: 
  • WARSAW, N.Y., May 01, 2023 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”) today announced the completion of the merger of its wholly-owned SEC-registered investment advisory firms on May 1, 2023, under which HNP Capital, LLC (“HNP Capital”) merged with and into Courier Capital, LLC (“Courier Capital”).
  • “This merger formally unites our Company’s two well-regarded wealth management firms and is the next natural step in the evolution for our investment advisory business line,” said Martin K. Birmingham, President and Chief Executive Officer of the Company.
  • In 2018, it announced the acquisition of HNP Capital, which expanded the Company’s wealth management reach to the Rochester, NY market and bolstered its retirement plan and institutional offerings.
  • Courier Capital President Thomas J. Hanlon commented, “Over the past five years, the teams at Courier Capital and HNP Capital have been collaborating and sharing best practices.