secwatch.observer — SEC 8-K summary
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Issuer:     Stellar Bancorp, Inc. (STEL)
CIK:        0001473844
Form:       8-K
Filed at:   2023-01-27T23:59:59+00:00
Accession:  0001473844-23-000004
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1473844/000147384423000004/0001473844-23-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1473844/000147384423000004/stel-20230127.htm
  HTML page:      https://secwatch.observer/filing/0001473844-23-000004

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