BankWind-downEst. 2022

Five Star Bank

US · Warsaw, NY · FDIC (insured); NY state charter; NASDAQ: FISI

Five Star Bank is a Bank based in US (Warsaw, NY), regulated by FDIC (insured); NY state charter; NASDAQ: FISI. The institution's BaaS program is currently wind-down, launched in 2022.

Five Star Bank supports the following products and services: Accounts, Payments, Cards. The bank serves customers across US.

Profile
Products Supported
AccountsPaymentsCards
Geographies Served
US
Charter / Regulator
FDIC (insured); NY state charter; NASDAQ: FISI
Year Program Launched
2022
Regulatory Actions Summary

None confirmed active

Notes

WARNING: Voluntarily exited BaaS September 2024 citing regulatory uncertainty; had 12 BaaS partnerships; $6.1B assets.

Related Deals (1)
partnership

Five Star Bank Exits BaaS Partnership with Unit Citing Low Returns

Five Star Bank announced it would end its banking-as-a-service partnership with fintech platform Unit. The bank cited that BaaS contributed only 2% to its deposits and 1% to its loans, making it insufficient to justify the growing compliance burden. The exit reflects a broader trend of sponsor banks reassessing BaaS economics amid tightening regulatory requirements.

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Five Star Bank dealsFive Star Bank regulatory actionsMore banks in USBrowse full registry
Links
Official Website BaaS Program
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