Stellar Bancorp Reports $27.8M Q4 Earnings, Plans Growth for 2025

Stellar Bancorp, Inc. reported a net income of $27.8 million for Q4 2024, bringing its full-year total to $117.6 million, showcasing solid profitability despite a slight decline in net interest income. The bank's return on average assets was 1.10%, and its return on average equity was 7.50%, with a strong net interest margin of 4.24% for the year. Total assets increased to $10.91 billion, supported by a rise in deposits, and the company improved its capital ratios, with a total risk-based capital ratio of 16.06%. Although there were challenges, such as decreased noninterest income and increased competition, management remains optimistic about growth opportunities for 2025. Stellar Bancorp also exceeded earnings expectations, reporting $0.52 per share, which was higher than the consensus estimate of $0.48. The company's focus moving forward will be on core fundamentals and leveraging market opportunities to enhance profitability.