NYSE$STEL

Stellar Bancorp Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported net income for the fourth quarter, reflecting the merger of equals between Allegiance Bancshares, Inc. and CBTX, Inc.

Stellar Bancorp reported net income of $2.1 million, or $0.04 earnings per diluted share, for the fourth quarter 2022. The results reflect the merger of equals between Allegiance Bancshares, Inc. and CBTX, Inc., which became effective on October 1, 2022.

  • Total assets were $10.90 billion at year-end, reflecting combined scale from the Merger.
  • Tax equivalent net interest margin was 4.71% for the fourth quarter 2022.
  • Net income for the fourth quarter 2022 was $2.1 million, and diluted earnings per share was $0.04.
  • Acquisition and merger-related expenses totaled $11.5 million in the fourth quarter 2022.

Headline financials

Total Revenue

$126M

Previous: $34.9M+261.6%
EPS (adj)

$0.04

Previous: -$0.02+300.0%
Net interest margin (tax equivalent)

4.7%

No prior period
Efficiency ratio

65.1%

No prior period
Capital Expenditures

$3.14M

Previous: $2.93M+7.2%
Free Cash Flow

$66.2M

Previous: -$23.1M+386.6%
Net Income

$2.1M

Previous: -$545K+485.3%
Operating Income

$1.83M

No prior period
Cash & Equivalents

$372M

Previous: $758M-50.9%
Total Assets

$10.9B

Previous: $7.1B+53.4%
Stock-Based Comp

$7.51M

Previous: $1.01M+644.5%

Revenue & EPS history

Stellar Bancorp · Revenue · Quarterly

$126M

Q4 2022+261.6%vs Q4 2021
Beat estimate in 11 of 14 quarters(79%)
ActualEstimate

Revenue by segment

Stellar Bancorp · $5.56M total across 5 segments · Q3 2021

  • Bank-owned life insurance
    $2.32M
  • Service charges on deposit accounts
    $1.35M
  • Debit card and interchange income
    $1.05M
  • Other noninterest income
    $479K
  • (Loss) gain on sale/write-down of assets
    $360K

Forward guidance

As we approach 2023, we are excited about the opportunities created by our combination and also cautious about increasing interest rates and the resulting effects on our economy. We will focus our efforts in the coming year on credit quality, liquidity and capital management.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

-0.2%

Avg return

Earnings day

-0.2%

Avg return

5 days after

+2.1%

Avg return

30 days after

49%

20 / 41 earnings

Positive

+11.4%

Q4 2025

Best reaction

-9.6%

Q4 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.9%-0.2%-0.2%
Q4 2025+11.4%+14.7%+15.4%
Q3 2025+0.8%-0.4%+6.7%
Q1 2025-4.6%-7.6%-1.0%
Q4 2024-0.8%+3.0%+1.4%
Q3 2024+5.9%+6.1%+18.2%
Q2 2024-0.2%-0.4%-2.1%
Q1 2024-6.9%-4.5%-4.1%
Q4 2023+0.6%-5.7%-9.4%
Q3 2023-3.4%-1.8%+6.8%
Q2 2023-2.4%-6.4%-18.0%
Q1 2023+4.8%+0.2%+8.0%
Q4 2022-9.6%-1.7%+2.9%
Q3 2022+4.5%+11.7%+11.4%
Q2 2022+3.3%+1.8%+2.3%
Q1 2022-2.3%-4.0%-8.9%
Q4 2021+2.1%+3.3%+8.3%
Q3 2021-0.9%+1.1%+6.6%
Q2 2021+3.0%-4.9%+1.7%
Q1 2021-0.9%+0.7%+0.7%
Q4 2020+2.2%+3.1%+7.8%
Q3 2020-2.8%-2.5%+16.5%
Q2 2020-2.3%-6.2%-4.6%
Q4 2019-9.2%-10.2%+5.3%
Q1 2020-8.4%-8.0%+2.6%
Q3 2019-2.4%-1.2%+1.2%
Q2 2019+2.6%+4.1%-9.5%
Q1 2019+0.4%+1.6%-2.4%
Q4 2018+0.1%-0.2%-3.6%
Q3 2018+0.3%-0.3%+4.7%
Q2 2018+3.3%+3.9%+0.8%
Q1 2017+0.3%-0.0%+2.1%
Q1 2018-1.1%-0.7%-1.5%
Q4 2015+1.5%+0.6%+2.0%
Q2 2016+1.5%+0.6%+2.0%
Q1 2016+1.5%+0.6%+2.0%
Q2 2017+1.5%+0.6%+2.0%
Q4 2017-0.2%-2.7%-3.6%
Q3 2016-0.6%+1.5%+5.4%
Q3 2017-0.6%+1.5%+5.4%
Q4 2016-0.6%+1.5%+5.4%

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