Stellar Bancorp Q1 net income $37.1M ($0.70 EPS); NIM expands to 4.80%

Stellar Bancorp, Inc.

2023-Q1 EPS reported $0.70 revenue$1,349,000

Net income $37.1M, diluted EPS $0.70; annualized ROAA 1.38%, ROATE 19.32%.
Net interest margin (tax-equiv) improved to 4.80% from 4.71% QoQ; PAA income $10.1M.
Noninterest expense down $7.0M to $72.6M; efficiency ratio 58.96% vs 65.14%.
Total deposits decreased $528.8M to $8.74B; uninsured deposits (ex-collateral) 46.4%.
Provision for credit losses $3.7M vs $44.8M prior qtr; NPA ratio stable at 0.41%.

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 first quarter 2023 results: net income $37.1 million, EPS $0.70.

Period: first quarter 2023
Net income: $37.1 million
EPS: $0.70
Result: reported results

Exact text from the filing

Stellar Bancorp, Inc. (the “Company” or “Stellar”) (NASDAQ: STEL) today reported net income of $37.1 million and diluted earnings per share of $0.70 for the first quarter 2023

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Stellar Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001473844-23-000015

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