secwatch.observer — SEC 8-K summary
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Issuer:     Stellar Bancorp, Inc. (STEL)
CIK:        0001473844
Form:       8-K
Filed at:   2024-04-26T23:59:59+00:00
Accession:  0001473844-24-000013
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stellar Bancorp Q1 net income $26.1M ($0.49 EPS), NIM 4.26%, NPLs rise to 0.53% of assets
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- Net income $26.1M ($0.49 diluted EPS) vs $27.3M ($0.51) in Q4 2023; net interest income $102.1M down 3.6% qoq.
- Tax-equivalent net interest margin 4.26% (ex-PAA 3.91% flat qoq); cost of funds 2.06%.
- Total loans $7.91B (-$17M qoq), total deposits $8.79B (-$78.8M qoq); uninsured deposits 42.8% of total.
- Nonperforming assets $57.1M (0.53% of assets) vs $39.2M (0.37%) at Dec 2023; ACL 1.22% of loans.
- Total risk-based capital ratio improved to 14.62% from 14.02%; Tier 1 leverage 10.41%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1473844/000147384424000013/0001473844-24-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1473844/000147384424000013/stel-20240426.htm
  HTML page:      https://secwatch.observer/filing/0001473844-24-000013

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer