Stellar Bancorp Q3 net income $30.9M ($0.58 EPS) down from $35.2M ($0.66) Q2; loan loss provisions rise

Stellar Bancorp, Inc.

2023-Q3 EPS reported $1.94 revenue$4,544,000

Net income $30.9M ($0.58 diluted EPS) vs Q2 $35.2M ($0.66); annualized ROAA 1.14%, ROATE 14.47%.
Tax equivalent NIM 4.37% (Q2: 4.49%); NIM ex-PAA 3.87% (Q2: 3.97%). Loans $8.00B (-$64.2M QoQ).
Net charge-offs $8.1M (0.40% annualized) mainly from one C&I loan; provision $2.3M. NPAs 0.36% of assets.
Deposits $8.69B (-$79.7M); noninterest-bearing deposits 42.1%. Uninsured deposits net of collateral: 44.5%.
Regulatory capital strengthened: total risk-based ratio 13.42% (Dec 2022: 12.39%), Tier 1 leverage 9.82%.

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 0.95

Stellar Bancorp, Inc. reported financial results for the third quarter of 2023.

Period: the third quarter of 2023
Result: reported results

Exact text from the filing

On October 27, 2023, Stellar Bancorp, Inc. (the “Company”) issued a press release announcing its financial results for the third quarter of 2023.

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Stellar Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001473844-23-000051

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