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Jun 30, 2021
Stellar Bancorp Q2 2021 Earnings Report
Net income increased due to improved credit conditions and economic forecasts.
Key Takeaways
CBTX, Inc. reported a net income of $11.7 million, or $0.48 per diluted share, for the second quarter of 2021, compared to $2.2 million, or $0.09 per diluted share, for the second quarter of 2020. The results reflect a transition from a COVID dominated economy to a more robust, growth economy.
Net income was $11.7 million for the second quarter of 2021, or $0.48 per diluted share.
Recapture of allowance for credit losses of $5.1 million due to improvements in the national economy and forward-looking national economic forecasts.
Net interest margin on a tax equivalent basis decreased to 3.29% for the second quarter of 2021.
Cash and equivalents increased $183.7 million to $788.4 million during the second quarter of 2021.
Stellar Bancorp
Stellar Bancorp
Forward Guidance
Company expects to continue to see new and improved activity through the third and fourth quarter.