Five Star Bancorp slides after Q2 results, stock offering launch
BUZZ-Five Star Bancorp slides after Q2 results, stock offering launch ** Regional bank Five Star Bancorp's FSBC.O shares down 6% to $45.46 in extended trading as it seeks equity raise after Q2 report
** Rancho Cordova, California-based FSBC says net interest income rose by $2.6 mln qtr/qtr to $46.1 mln, primarily due to an increase in interest income driven by loan growth and higher interest-earning deposits in banks
** Net interest margin down slightly to 3.63% in the qtr from 3.70% last qtr
** FSBC launches stock offering for general purposes, to support growth, and for working capital
** KBW sole bookrunner
** FSBC has ~21.4 mln shares outstanding for about $1 bln market cap
** Stock closed down 1.9% at $48.37 on Weds, up 35% YTD
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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Five Star Bancorp slides after Q2 results, stock offering launch