Five Star Bank (California)
Five Star Bank is an American boutique Community Bank founded in 1999 in Rocklin, California by prominent real estate developers Buzz Oates and Frank Ramos. Five Star Bank was originally created after the two recognized a need for relationship-based commercial real estate banking services in the region around the state capital.
 | |
| Type | Private |
|---|---|
| Industry | Financial services, Banking |
| Founded | 1999 |
| Headquarters | , |
Number of locations | 6 |
Key people | James Beckwith, President & CEO[1] Krista Snelling, CFO & COO[2] |
| Products | Business and Commercial Banking |
| Total assets | $2 billion (2020) |
| Owner | Five Star Bancorp |
Number of employees | 111 (2019) |
| Website | fivestarbank |
In 2018, Five Star Bank was named the 46th highest performing community bank in the United States under $3 billion in assets by S&P Global. The bank was also named the 21st most active SBA 7(A) lender in the country by total loans and 65th by volume among all banks through the first half of 2019 by the SBA.[3]
Five Star Bank now has four locations in the California capital region in Roseville, Elk Grove, Rancho Cordova, and Sacramento/Natomas, as well as one in Chico and one in Redding. In 2018, Five Star Bank moved its headquarters to its current Roseville location.[4]
Five Star Bank is known for its engagement among the communities it serves. The bank specializes in these niche markets:
RISE Program
Five Star Bank is a major participant in the RISE Program (Responsible Investment for a Stronger Economy), founded by Region Business. This program aims to get local governments of cities, counties, and districts to deposit with local community banks, with the assurance that the banks will invest a portion of the money back into businesses in the region.[8]
Those invested in Five Star Bank through the RISE Program include: The Cities of Rocklin, Sacramento,[9] Roseville,[10] Rancho Cordova,[11] Elk Grove,[12] and SMUD.[13]
Five Star Bank Tank
On March 29, 2018, Five Star Bank held its inaugural Five Star Bank Tank.[14] This event helps to connect start-ups with investors in the Sacramento region.[15] 23 start-up companies were present, with Grin and AltWork being selected as the event's top-presenting companies.[16]
On October 31, 2018, the company hosted its second Five Star Bank Tank with plans to host more events in the future.[17]
References
- https://www.selectsacramento.com/member/james-beckwith/
- https://www.bizjournals.com/sacramento/news/2019/07/11/cfo-of-the-year-honoree-krista-snelling-of-five.html
- https://www.sba.gov/article/2017/oct/01/100-most-active-sba-7a-lenders
- https://www.bizjournals.com/sacramento/news/2018/06/05/five-star-bank-moving-headquarters-to-rosevilles.html
- https://www.businesswire.com/news/home/20170425005579/en/SmartBiz-Loans%C2%AE-Adds-Star-Bank-Technology-Ecosystem
- https://www.bizjournals.com/sacramento/feature/table-of-experts/2018/06/table-of-experts-the-business-of-agriculture.html
- https://www.comstocksmag.com/longreads/it-takes-community
- https://regionbusiness.org/rancho-cordova-adopts-region-finances-rise-policy/
- https://engagesac.org/blog-civic-engagement/2018/11/13/city-makes-75-million-commitment-to-local-banks-so-they-can-put-the-money-to-work-in-sacramento-neighborhoods
- http://rosevillechamber.com/news-from-the-ceo-apply-now-for-the-roseville-advantage-financing-program/
- https://regionbusiness.org/rise-press-release-4-12-18/
- http://www.elkgrovecity.org/city_hall/departments_divisions/public_affairs/news/archives/2017/press_release__region_finance_praises_elk_grove
- https://www.smud.org/en/Corporate/About-us/News-and-Media/2018/2018/SMUD-boosting-local-economic-development-with-RISE-investments
- https://startupsac.com/grin-and-altwork-top-companies-at-five-star-bank-tank/
- https://www.comstocksmag.com/longreads/go-fund-yourself
- https://startupsac.com/grin-and-altwork-top-companies-at-five-star-bank-tank/
- https://www.sealink.org/news-blog/2018/9/26/investment-ready-startups-apply-to-five-star-bank-tank