8-K
filed October 3, 2022, 7:59 PM ET
ticker STEL
CIK 0001473844
M&A
confidence high
sentiment neutral
materiality 0.80
Stellar Bancorp completes merger with Allegiance; ticker changes to STEL, executives named
Stellar Bancorp, Inc.
- Merger of equals closed Oct 1, 2022; Allegiance shareholders received 1.4184 Stellar shares per share.
- Company renamed Stellar Bancorp, Inc.; ticker changes from CBTX to STEL; authorized shares increased to 140M.
- Assumed ~$111.3M debt: $7.7M and $3.6M trust preferred, $60M sub notes, $40M Combined Bank notes.
- Board reconstituted to 14 directors (7 legacy CBTX, 7 legacy Allegiance); Franklin CEO, Retzloff Exec Chairman, Vitulli President, Egge CFO.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Steven F. Retzloff was appointed as Executive Chairman at Stellar Bancorp, Inc..
- Action
- appointed
- Role
- Executive Chairman
Exact text from the filing
Steven F. Retzloff, the current Chief Executive Officer of Allegiance, was appointed as a director of the Company and the Executive Chairman of the Company and Senior Executive Chairman of the Combined Bank.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.9
J. Pat Parsons was appointed as Vice Chairman of the Combined Bank at Stellar Bancorp, Inc..
- Action
- appointed
- Role
- Vice Chairman of the Combined Bank
Exact text from the filing
and was appointed as the Vice Chairman and a director of the Combined Bank.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.9
J. Pat Parsons departed as Vice Chairman at Stellar Bancorp, Inc..
- Action
- ceased to serve
- Role
- Vice Chairman
Exact text from the filing
J. Pat Parsons, ceased to serve as the Company’s former Vice Chairman and a director
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Ramon A. Vitulli, III was appointed as President at Stellar Bancorp, Inc..
- Action
- appointed
- Role
- President
Exact text from the filing
Ramon A. Vitulli, III was appointed President of the Company and Chief Executive Officer of the Combined Bank
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Robert T. Pigott, Jr. departed as Chief Financial Officer at Stellar Bancorp, Inc..
- Action
- ceased to serve
- Role
- Chief Financial Officer
Exact text from the filing
Robert T. Pigott, Jr., ceased to serve as the Company’s Chief Financial Officer and Senior Executive Vice President
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Robert R. Franklin, Jr. was appointed as Chief Executive Officer at Stellar Bancorp, Inc..
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
Robert R. Franklin, Jr., the current Chairman, President and Chief Executive Officer of the Company, was appointed as a director and the Chief Executive Officer of the Company and Executive Chairman of the Combined Bank. He also ceased to serve as the Chairman and President of the Company at the Effective Time.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Robert T. Pigott, Jr. was appointed as Senior Vice President of the Combined Bank at Stellar Bancorp, Inc..
- Action
- appointed
- Role
- Senior Vice President of the Combined Bank
Exact text from the filing
and was appointed Senior Vice President of the Combined Bank.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Paul P. Egge was appointed as Chief Financial Officer at Stellar Bancorp, Inc..
- Action
- appointed
- Role
- Chief Financial Officer
Exact text from the filing
Paul P. Egge was appointed Senior Executive Vice President and Chief Financial Officer of the Company and the Combined Bank.
View on SEC.gov
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