---
schema_version: "secwatch.filing_event.v1"
accession: "0001473844-23-000015"
form_type: "8-K"
ticker: "STEL"
cik: "0001473844"
company_name: "Stellar Bancorp, Inc."
filed_at: "2023-04-28T23:59:59+00:00"
generated_at: "2026-06-16T06:23:02.234315+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0001473844-23-000015
- form_type: 8-K
- ticker: STEL
- cik: 0001473844
- company_name: Stellar Bancorp, Inc.
- filed_at: 2023-04-28T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1473844/000147384423000015/0001473844-23-000015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1473844/000147384423000015/stel-20230428.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001473844-23-000015
- JSON: https://secwatch.observer/filing/0001473844-23-000015.json
- Plain text: https://secwatch.observer/filing/0001473844-23-000015.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1473844/000147384423000015/0001473844-23-000015-index.htm

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