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Dec 31, 2022
Stellar Bancorp Q4 2022 Earnings Report
Reported net income for the fourth quarter, reflecting the merger of equals between Allegiance Bancshares, Inc. and CBTX, Inc.
Key Takeaways
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.
Stellar Bancorp
Stellar Bancorp
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.