Stellar Bancorp, Inc. Reports Impairment Charges for the Third Quarter of 2022
October 28, 2022 at 07:00 am EDT
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Stellar Bancorp, Inc. reported impairment charges for the third quarter of 2022. Third quarter 2022 net recoveries were $245,000, or 0.02% (annualized) of average loans, compared to net charge-offs of $450,000, or 0.04% (annualized) of average loans, for the third quarter 2021.
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. 
