Stellar Bancorp Q2 net income $35.2M ($0.66 EPS), down from Q1 $37.1M ($0.70 EPS)

Stellar Bancorp, Inc.

2023-Q2 EPS reported $1.36 revenue$2,924,000

Net income $35.2M, diluted EPS $0.66 vs $37.1M, $0.70 in Q1 2023.
Tax-equivalent net interest margin 4.49%, down 31 bps from 4.80%; excluding PAA margin 3.97%.
Total loans grew $182.7M to $8.07B; deposits up $27.5M to $8.77B; noninterest-bearing deposits 42.4% of total.
Provision for credit losses $1.9M, net charge-offs $236k (0.01% annualized); nonperforming assets stable at $43.3M.
Regulatory capital ratios improved: total risk-based capital 13.03% (Dec 2022: 12.39%), Tier 1 leverage 9.51% (8.55%).

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