Stellar Bancorp posts Q4 net income $2.1M on $44.8M provision; merger costs $11.5M

Stellar Bancorp, Inc.

2022-FY EPS reported $1.47 revenue$3,690,000

Net income $2.1M ($0.04 EPS) vs. $??? prior YoY; FY2022 net income $51.4M ($1.47 EPS).
Tax-equivalent NIM 4.71% (ex-purchase accounting 4.38%); pre-tax pre-provision income $46.6M.
Provision for credit losses $44.8M includes $28.2M on non-PCD loans and $5.0M on unfunded commitments.
Total assets $10.90B, loans $7.75B, deposits $9.27B; nonperforming assets 0.41% of assets.
Annualized ROA 0.07%, ROE 0.60%, ROTCE 1.18%; merger expenses $11.5M in Q4.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Stellar Bancorp, Inc. reported the fourth quarter 2022 results: net income $2.1 million, EPS $0.04 earnings per diluted share.

Period: the fourth quarter 2022
Net income: $2.1 million
EPS: $0.04 earnings per diluted share
Result: reported results

Exact text from the filing

Stellar Bancorp, Inc. (the “Company” or “Stellar”) (NASDAQ: STEL) today reported net income of $2.1 million, or $0.04 earnings per diluted share, for the fourth quarter 2022

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Stellar Bancorp, Inc. reported the year ended December 31, 2022 results: net income $51.4 million, EPS $1.47 earnings per diluted share.

Period: the year ended December 31, 2022
Net income: $51.4 million
EPS: $1.47 earnings per diluted share
Result: reported results

Exact text from the filing

and $51.4 million, or $1.47 earnings per diluted share, for the year ended December 31, 2022

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Stellar Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001473844-23-000004

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