secwatch.observer — SEC 8-K summary
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Issuer:     Stellar Bancorp, Inc. (STEL)
CIK:        0001473844
Form:       8-K/A
Filed at:   2024-10-25T23:59:59+00:00
Accession:  0001473844-24-000036
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 9.01, 2.02, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Stellar Bancorp Q3 net income $33.9M ($0.63 EPS); redeems $40M sub notes due 2027
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- Net income $33.9M ($0.63 diluted EPS) vs $29.8M ($0.56) Q2 2024; ROAA 1.27%.
- Tax-equivalent NIM 4.19%; excluding purchase accounting accretion 3.91%.
- Nonperforming loans fell $18.8M to $32.1M; reversal of provision $6.0M.
- Book value per share $30.43; tangible book value $19.28, up from $18.00 Q2.
- Repurchased 108,984 shares at avg $26.10; to redeem $40M sub notes at 100% of principal.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1473844/000147384424000036/0001473844-24-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1473844/000147384424000036/stel-20241025.htm
  HTML page:      https://secwatch.observer/filing/0001473844-24-000036

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