---
schema_version: "secwatch.filing_event.v1"
accession: "0001473844-22-000017"
form_type: "8-K"
ticker: "STEL"
cik: "0001473844"
company_name: "Stellar Bancorp, Inc."
filed_at: "2022-12-16T23:59:59+00:00"
generated_at: "2026-06-21T03:16:10.188251+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Stellar Bancorp enters $75M revolving credit facility with Frost Bank, maturing Dec 2024

## Summary
- $75 million revolving line of credit with Frost Bank; no balance drawn at closing.
- Interest at WSJ prime rate with 3.50% floor; quarterly interest payments.
- Principal and unpaid interest due December 13, 2024; prepayable without penalty.
- Secured by pledge of 100% of Allegiance Bank capital stock.
- Proceeds for stock repurchases, acquisitions, and general corporate purposes.

## SEC filing metadata
- accession: 0001473844-22-000017
- form_type: 8-K
- ticker: STEL
- cik: 0001473844
- company_name: Stellar Bancorp, Inc.
- filed_at: 2022-12-16T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1473844/000147384422000017/0001473844-22-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1473844/000147384422000017/stel-20221213.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001473844-22-000017
- JSON: https://secwatch.observer/filing/0001473844-22-000017.json
- Plain text: https://secwatch.observer/filing/0001473844-22-000017.txt

## Key facts
- Debt Financings
  Stellar Bancorp, Inc. amended revolving credit of $75 million with Frost Bank at prime rate quoted by The Wall Street Journal with a floor rate of 3.50% maturing December 13, 2024.
  - Instrument: revolving credit
  - Principal: $75 million
  - Counterparty: Frost Bank
  - Rate: prime rate quoted by The Wall Street Journal with a floor rate of 3.50%
  - Maturity: December 13, 2024
  - Event: amendment
  source text: restates in its entirety the Company's Second Amended and Restated Loan Agreement, dated as of December 13, 2019, as amended and modified. The Amended Agreement provides for a $75 million revolving line of credit (the “Line of Credit”). Interest will accrue on outstanding borrowings under the Line of Credit at a per annum rate equal to the prime rate quoted by The
  evidence_url: https://www.sec.gov/Archives/edgar/data/1473844/000147384422000017/0001473844-22-000017-index.htm
- Material Agreements
  Stellar Bancorp, Inc. amended Third Amended and Restated Loan Agreement with Frost Bank valued at $75 million (effective 2022-12-13).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Frost Bank
  - Value: $75 million
  - Effective: 2022-12-13
  source text: On December 13, 2022, Stellar Bancorp, Inc. (the “Company”) entered into a Third Amended and Restated Loan Agreement (the “Amended Agreement”) with Frost Bank, as lender, and the Company as borrower.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1473844/000147384422000017/0001473844-22-000017-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.