secwatch.observer — SEC 8-K summary
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Issuer:     Stellar Bancorp, Inc. (STEL)
CIK:        0001473844
Form:       8-K
Filed at:   2024-01-26T23:59:59+00:00
Accession:  0001473844-24-000005
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stellar Bancorp Q4 net income $27.3M ($0.51 EPS); NIM expands to 4.40% but expenses rise on FDIC assessment
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- Net income $27.3M, diluted EPS $0.51 for Q4 2023; full-year net income $130.5M, EPS $2.45.
- Tax-equivalent NIM 4.40% (up 3 bps QoQ); net interest income $105.9M (-0.7% QoQ).
- Noninterest expense $77.9M (+10.2% QoQ) includes $2.4M FDIC special assessment and $1.9M severance.
- Loans down $79.4M to $7.93B; deposits up $186.8M to $8.87B; NIM excl. purchase accounting 3.91%.
- Tangible book value per share up 21.4% to $17.02; total risk-based capital ratio 14.02%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1473844/000147384424000005/0001473844-24-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1473844/000147384424000005/stel-20240126.htm
  HTML page:      https://secwatch.observer/filing/0001473844-24-000005

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