Stellar Bancorp (NASDAQ:STEL), the Houston-based bank holding company, announced a first-quarter net income of $24.7 million on Friday, translating to earnings of 46 cents per share.
This result surpassed the expectations of Wall Street analysts surveyed by Zacks Investment Research, who had an average estimate of 44 cents per share.
For the period, Stellar Bancorp posted total revenue of $147.8 million.
However, the company's revenue net of interest expense, which came in at $104.8 million, fell short of the average Street forecast of $105.5 million from three analysts surveyed by Zacks.
The bank's tax equivalent net interest margin for the first quarter of 2025 was 4.20%, a slight decrease from 4.25% reported in the fourth quarter of 2024.
Stellar Bancorp also reported strengthening capital and book value metrics.
The total risk-based capital ratio increased to 15.94% as of March 31, 2025.
Book value per share rose to $30.89 at March 31, 2025, up from $30.09 at December 31, 2024.
Tangible book value per share also saw an increase, reaching $19.69 at March 31, 2025, compared to $19.05 at December 31, 2024.