Stellar Bancorp, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 27, 2023 at 07:00 am EDT
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Stellar Bancorp, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 106.72 million compared to USD 60.69 million a year ago. Net income was USD 30.91 million compared to USD 14.29 million a year ago. Basic earnings per share from continuing operations was USD 0.58 compared to USD 0.51 a year ago. Diluted earnings per share from continuing operations was USD 0.58 compared to USD 0.5 a year ago.
For the nine months, net interest income was USD 330.83 million compared to USD 173.34 million a year ago. Net income was USD 103.23 million compared to USD 49.38 million a year ago. Basic earnings per share from continuing operations was USD 1.94 compared to USD 1.72 a year ago. Diluted earnings per share from continuing operations was USD 1.94 compared to USD 1.71 a year ago.
Stellar Bancorp, Inc. is a bank holding company. Through its wholly owned subsidiary, Stellar Bank (the Bank), the Company provides a diversified range of commercial banking services primarily to small-to-medium-sized businesses, professionals and individual customers within its markets. The Company offers a range of commercial and retail lending services, including commercial loans, loans to small businesses guaranteed by the small business administration (the SBA), mortgage loans, home equity loans, personal loans and automobile loans, among others. The types of deposit accounts that the Company offers are typical of most commercial banks and consist of checking accounts, commercial accounts, money market accounts, savings accounts and other time deposits of various types and terms. The Company operates over 54 full-service banking centers, with 37 banking centers in the Houston region, 16 banking centers in the Beaumont region and one banking center in Dallas, Texas.
STELLAR BANCORP, INC. 
