San Francisco, CA
Five Star Bancorp opens San Francisco office, bringing personalized, concierge banking services to the San Francisco Bay Area
Five Star Bank is committed to restoring high-tech, high-touch banking in the San Francisco Bay Area
RANCHO CORDOVA, Calif., Sept. 03, 2024 (GLOBE NEWSWIRE) — Five Star Bancorp (Nasdaq: FSBC) (“Five Star” or the “Company”), a holding company that operates through its wholly owned banking subsidiary, Five Star Bank, today opened its first full-service office in San Francisco, further demonstrating its commitment to bringing personalized, concierge banking services to the San Francisco Bay Area.
The approximately 4,000-square-foot, full-service office is located at 345 California Street, Suite 2875 in San Francisco’s Financial District and will accommodate a seasoned team of banking professionals who provide a full suite of treasury products and services, usually available only through large national and global banks, to meet client banking needs and help protect them from fraud. On September 25, Five Star Bank will host an invitation-only grand-opening reception to celebrate its new office with clients, city officials, business and community leaders and media.
“This office opening is the capstone of a series of initiatives including hiring 22 Bay Area banking professionals since 2023. We are very pleased to bring our client-focused, concierge banking services to the San Francisco Bay Area. Our full-service office is open for business and we look forward to welcoming clients for in-person discussions to help them achieve their business goals,” said Five Star Bank President and Chief Executive Officer James Beckwith.
“Five Star Bank provides direct access to banking experts in the commercial, nonprofit and venture banking industries, and beyond. There is no substitute for in-person conversations and connectivity, the hallmarks of doing business with Five Star. Five Star’s commitment to the San Francisco Bay Area marks the return of high-tech, high-touch concierge banking and our new San Francisco office serves as a bridge to advancing existing client relationships and developing new relationships as we continue to build our presence and our business in the Bay Area,” said Five Star Bank’s San Francisco Bay Area President DJ Kurtze.
Five Star Bank’s 28th floor San Francisco office features a spacious, open floor plan with abundant natural light and beautiful views of San Francisco and the San Francisco Bay in all directions. IN:SITE Design Build Associates, Inc., provided the office design and renderings, with general contracting services by GCI Contractors and office furniture from CRI, San Francisco.
Five Star Bank is a highly respected and trusted banking partner that has earned numerous awards and recognition:
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The 2024 Greater Sacramento Economic Council’s Sustainability Award recognizing Five Star Bank’s support of industry growth in the Greater Sacramento region
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2023 Raymond James Community Bankers Cup
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2023 Piper Sandler’s Sm-All Stars
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2023 Independent Banker Top Commercial Banks with More than $1 billion in assets (ranking number 6 in the nation)
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The S&P Global Market Intelligence 2023 Top 50 Best-Performing Community Banks in the nation, ranking number 20 (banks with assets between $3 billion and $10 billion)
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2024 Bank Director Magazine (RankingBanking), The Best U.S. Banks with assets less than $5 billion, ranking number 5
About Five Star Bancorp
Five Star Bancorp is a bank holding company headquartered in Rancho Cordova, California. Five Star operates through its wholly owned banking subsidiary, Five Star Bank. The bank has eight branches in Northern California. For more information visit https://www.fivestarbank.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections, and statements of the Company’s beliefs concerning future events, business plans, objectives, expected operating results, and the assumptions upon which those statements are based. Forward-looking statements include without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements, and are typically identified with words such as “may”, “could”, “should”, “will”, “would”, “believe”, “anticipate”, “estimate”, “expect”, “aim”, “intend”, “plan” or words or phases of similar meaning. The Company cautions that the forward-looking statements are based largely on the Company’s expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company’s control. Such forward-looking statements are based on various assumptions (some of which may be beyond the Company’s control) and are subject to risks and uncertainties, which change over time, and other factors, which could cause actual results to differ materially from those currently anticipated. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. If one or more of the factors affecting the Company’s forward-looking information and statements proves incorrect, then the Company’s actual results, performance, or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements contained in this press release. Therefore, the Company cautions you not to place undue reliance on the Company’s forward-looking information and statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, in each case under the section entitled “Risk Factors,” and other documents filed by the Company with the Securities and Exchange Commission from time to time.
The Company disclaims any duty to revise or update the forward-looking statements, whether written or oral, to reflect actual results or changes in the factors affecting the forward-looking statements, except as specifically required by law.
Investor Contact:
Heather C. Luck, Chief Financial Officer
Five Star Bancorp
(916) 626-5008
hluck@fivestarbank.com
Media Contact:
Shelley R. Wetton, Chief Marketing Officer
Five Star Bancorp
(916) 284-7827
swetton@fivestarbank.com
(KRON) — A 32-year-old man has been missing in San Francisco for two days, police said. Gabriel Carreon was last seen at noon on July 7, when he left his home in the Castro neighborhood to go see a movie, the San Francisco Police Department said.
The following morning, a 911 caller told dispatchers that Carreon was missing.
Police described the missing man as Asian, 5’8’’ tall, and weighing 170 pounds. He has black hair dyed pink, and brown eyes.
Anyone who locates Carreon should call 911 and report his current location, police said. Anyone with information on his possible whereabouts should call the SFPD Missing Persons Unit Tip Line at 415-734-3070.
Sick of the TSA lines? Tired of playing musical chairs at the gate? Rather sit as far from your fellow airplane passengers for as long as possible, in the comfort of your own private, luxury airport terminal?
Soon you may get your wish. And San Francisco international airport wants to be your genie – for a fee.
The airport is hoping to build a brand-new terminal exclusively for passengers who pay a premium, gaining access to a luxurious airport experience complete with private security lines and valet service from terminal to tarmac. It will service commercial flights, not business or corporate jets, and the terminal will have its own Transportation Security Administration (TSA) lines as well as Customs and Border Protection (CBP) lines for international travel.
SFO is seeking bidders to take on the development, construction and operation of the private terminal, which is planned for a 75,000-sq-ft site located across the runway from all current public terminals. The airport will accept proposals between late September and early October, and is looking to award a contract by early December with hopes of opening the terminal in late 2028.
SFO’s interest in a luxury development comes from what airport spokesperson Doug Yakel called a “high level of demand” for “premium experiences” in travel, citing the popularity of existing credit card and premium lounges. A private terminal is essentially the next step up in exclusivity from those lounges – and the best chance at avoiding airport crowds entirely.
“Somebody that uses this product really wouldn’t see the other passengers they’re traveling with until they’re taken up the stairs of the jet bridge and onto the aircraft,” Yakel said.
Spending on “pay-to-play” luxury experiences at large is on the rise, according to a new report by Bain & Company and Altagamma. The airline industry has bought in, revamping lounge and onboard experiences with chef-designed menus and expanded premium seating for the highest-paying passengers.
Many see a market in San Francisco, where an AI-driven wealth boom is already agitating the local housing market, with homes sold at the fastest pace in five years and the single-family median home price clocking in at $2.2m.
Yakel said SFO felt now was the right time to enter the market of luxury travel.
“We see the level of interest that’s being invested onboard aircraft, inside terminals, around airports, and clearly this is something that other airports are rolling out,” Yakel said.
The price to pay for a private airport experience will be decided by whoever wins the bid for operations, and will be offered on a membership or per-use basis. The traffic experienced at public terminals likely won’t change, Yakel said.
Private terminals have become popular worldwide. London Heathrow and Paris-Charles de Gaulle airports in Europe have long operated luxury terminals, and São Paulo/Guarulhos international airport recently opened the first private terminal in Latin America.
If SFO is successful, it would become the next major American airport to open a luxury terminal. Los Angeles, Dallas Fort Worth, Miami and Hartsfield-Jackson Atlanta international airports all offer a private terminal through PS (formerly known as the Private Suite), a company owned by security firm Gavin de Becker and Associates. Multiple representatives from PS and Gavin de Becker and Associates attended a June conference hosted by SFO about the private terminal, and PS has said it hopes to open a private terminal at every major US airport by 2030.
Access to existing PS private terminals can cost passengers $1,295 for a one-time experience, or up to $4,850 for a yearly membership. Heathrow’s private terminal costs thousands of pounds per person.
San Francisco Giants pitchers say they don’t feel MLB discriminated
Three San Francisco Giants pitchers say they did not feel discriminated against after the DOJ announced an investigation into Major League Baseball.
The San Francisco Giants have a lot to consider at this juncture of the MLB season.
There were mid-level expectations for the Giants at the start of the season. On paper, it seemed like the Giants could battle for a wild card berth.
The Giants won’t meet those expectations.
A week before the All-Star break, San Francisco has the third-worst record in baseball at 38-54. The Giants lost 10-0 to the Toronto Blue Jays on July 8, held hitless through eight innings.
It’s becoming increasingly obvious that this team won’t be competitive down the stretch, which has many of the Giants faithful singing a NxWorries tune, wondering what to do and where to go from here.
It’s evident that a shake-up is needed. It’s simply a matter of where they start and what they can realistically do to change things in the dugout. But one thing’s for sure: the Giants are sellers heading into the trade deadline.
What should the Giants do now?
The Giants have to accept their fate. Entering the season, they looked like a team that could compete with anybody, but then the baseball games were played and that proved to not be the case. So now San Francisco has to look itself in the mirror and figure out what went wrong and how to make things right – well, better than they have been going, anyways.
Here are a few ideas:
Get aggressive in the trade market, sell high
It’s easier said than done, but the Giants have to get off the expensive contracts eating up their salary. Reason being, you won’t be able to get any talent, let alone invest in your prospects, if there isn’t enough dollars to go around by the time negotiations occur.
It’s also a matter of how aggressive they plan to be and who will be prioritized. Who is untouchable? ESPN’s Jeff Passan has Giants outfielder Jung Hoo Lee as a top-ranked trade candidate. He plays all throughout the outfield. Offensively, Lee ranks top 10 in MLB in batting average and strikeout rate.
Lee, 27, makes $22.83 million this season and next, before going down to $21.33 million in both 2028 and 2029. Although not a star, the Giants can sell teams on Lee being a promising, solid all-around player.
Move on from veteran players
With a record like San Francisco’s, the best thing you can do for the fans is give them something to be hopeful for. That’s not aging veterans.
Examine the market for your guys who are age 30 and up, or are occupying a ton of salary space.
Rafael Devers turns 30 in October. His age isn’t so much a problem, but his contract … combined with the lack of expected production. Devers has had a down year so far, batting .244, registering 86 hits and 18 homers. He’s under contract through 2033 at a hefty price tag.
Others to consider moving on from are Willy Adames and Matt Chapman. They’re fan favorites, but based on age and dollars it all makes sense. Adames is under contract through 2031 at over $31 million per season. Chapman is locked up through 2030 at over $25 million per year.
It’s hard to say goodbye, but in the best interest of the Giants, they have to find new homes for these guys. And honestly, it wouldn’t be surprising if Devers, Chapman and Adames wanted to find a new home if it meant playing for a contender and a chance at a World Series title.
Retain young talent, bring in fresh faces
There’s promise for the future in this squad with guys like Bryce Eldridge, Blade Tidwell and Drew Gilbert. It’s a start.
“The San Francisco Giants, who would love to trade two of their infielders at the trade deadline, need to clear space for power-hitter Bryce Eldridge. They realize it’s stunting his growth as an infielder to keep using him as a DH at the age of 21,” USA TODAY Sports’ Bob Nightengale wrote.
Eldridge has had plenty moments as a designated hitter but none bigger than his walk-off grand slam against the Washington Nationals on June 10.
Another intitiative San Francisco needs to focus on is hanging on to guys like Logan Webb, Heliot Ramos, Casey Schmitt and Landon Roupp. The best bet is to hang on to them to help usher in a new era. Years from now, when the team has a new look, you can decide whether to leverage them for additional assets.
However, in the interim, hold on to those guys for dear life because teams will come knocking as MLB gets closer to the trade deadline.
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