Stellar Bancorp Q2 net income $29.8M, EPS $0.56, up 14% QoQ; capital ratios improve

Stellar Bancorp, Inc.

2024-Q2 EPS reported $1.04 revenue$3,246,000

Net income $29.8M ($0.56 diluted EPS) vs Q1 $26.1M ($0.49); annualized ROA 1.13%.
Net interest margin (tax-equivalent) 4.24%, down 2bp QoQ; excluding purchase accounting 3.82%.
Total risk-based capital ratio rose to 15.34% from 14.62%; Tier 1 leverage 10.93%.
Loans down $194M to $7.71B; deposits down $69M to $8.73B as deposit mix shifts.
Credit stable: net charge-offs $1K in Q2 vs $714K in Q1; NPA ratio 0.50%.

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