secwatch.observer — SEC 8-K summary
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Issuer:     Stellar Bancorp, Inc. (STEL)
CIK:        0001473844
Form:       8-K
Filed at:   2022-12-16T23:59:59+00:00
Accession:  0001473844-22-000017
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1473844/000147384422000017/0001473844-22-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1473844/000147384422000017/stel-20221213.htm
  HTML page:      https://secwatch.observer/filing/0001473844-22-000017

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer