secwatch.observer — SEC 8-K summary
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Issuer:     Stellar Bancorp, Inc. (STEL)
CIK:        0001473844
Form:       8-K
Filed at:   2023-10-27T23:59:59+00:00
Accession:  0001473844-23-000051
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1473844/000147384423000051/0001473844-23-000051-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1473844/000147384423000051/stel-20231027.htm
  HTML page:      https://secwatch.observer/filing/0001473844-23-000051

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