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Five Star Bancorp closes $25M debt offering

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Five Star Bancorp closes $25M debt offering

Rocklin, Calif.-based Five Star Bancorp completed a $25 million private placement of its fixed- to floating-rate subordinated debt.

The notes are a ten-year, interest-only obligation. Interest of 6.0% will be paid out for the first five years. Interest for the second half will be equal to the three-month London Interbank Offered Rate plus 4.04%.

Keefe Bruyette & Woods served as sole placement agent in the offering.