secwatch.observer — SEC 8-K summary
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Issuer:     Stellar Bancorp, Inc. (STEL)
CIK:        0001473844
Form:       8-K
Filed at:   2024-10-25T23:59:59+00:00
Accession:  0001473844-24-000032
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stellar Bancorp Q3 net income $33.9M ($0.63 EPS), up from $29.8M; to redeem $40M sub notes
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- Net income $33.9M ($0.63 diluted EPS) vs $29.8M ($0.56) in Q2 2024; annualized ROAA 1.27%.
- Net interest margin (tax-equivalent) 4.19% vs 4.24%; excluding PAA, NIM 3.91% vs 3.82%.
- Nonperforming loans down $18.8M to $32.1M; ACL-to-NPL ratio 262.92% vs 186.17%.
- Loans fell $162.8M to $7.55B; deposits up $17.3M to $8.74B; repurchased 108,984 shares at $26.10.
- To redeem all $40M of 2027 sub notes at par plus accrued interest.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1473844/000147384424000032/0001473844-24-000032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1473844/000147384424000032/stel-20241025.htm
  HTML page:      https://secwatch.observer/filing/0001473844-24-000032

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