0000000000-24-014036.txt : 20250220 0000000000-24-014036.hdr.sgml : 20250220 20241219133606 ACCESSION NUMBER: 0000000000-24-014036 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20241219 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: Stellar Bancorp, Inc. CENTRAL INDEX KEY: 0001473844 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] ORGANIZATION NAME: 02 Finance IRS NUMBER: 208339782 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD SEC FILE NUMBER: 001-38280 BUSINESS ADDRESS: STREET 1: 9 GREENWAY PLAZA, SUITE 110 CITY: HOUSTON STATE: TX ZIP: 77046 BUSINESS PHONE: (713) 210-7600 MAIL ADDRESS: STREET 1: 9 GREENWAY PLAZA, SUITE 110 CITY: HOUSTON STATE: TX ZIP: 77046 FORMER COMPANY: FORMER CONFORMED NAME: Stellar Bancorp. Inc. DATE OF NAME CHANGE: 20221003 FORMER COMPANY: FORMER CONFORMED NAME: CBTX, Inc. DATE OF NAME CHANGE: 20171011 FORMER COMPANY: FORMER CONFORMED NAME: CBFH, Inc. 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end TEXT-EXTRACT 2 filename2.txt December 19, 2024 Paul P. Egge Chief Financial Officer Stellar Bancorp, Inc. 9 Greenway Plaza, Suite 110 Houston, Texas 77046 Re: Stellar Bancorp, Inc. Form 10-K for the Fiscal Year Ended December 31, 2023 File No. 001-38280 Dear Paul P. Egge: We have limited our review of your filing to the financial statements and related disclosures and have the following comment. Please respond to this letter within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe a comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this letter, we may have additional comments. Form 10-K for the Fiscal Year Ended December 31, 2023 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations, page 42 1. We note that commercial real estate loans (including multi-family residential) totaled $4.1 billion, or 51.3%, of the total loan portfolio at December 31, 2023. In addition, we note from your disclosure on page 9 of Exhibit 99.2 of your Third Quarter 2024 Earnings Presentation that your CRE portfolio is broadly diversified by property type including loans secured by retail, warehouse, convenience store, multifamily, etc. Please revise your disclosures, in future filings, to provide disaggregation and quantification of the composition of your CRE loan portfolio by property type and other characteristics (e.g., current weighted average and/or range of loan-to-value ratios, occupancy rates, etc.). For example, your disclosure should include details similar to those provided on slide 9 as well as other details relevant to the understanding of this significant portion of your loan portfolio. In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, December 19, 2024 Page 2 action or absence of action by the staff. Please contact Sarmad Makhdoom at 202-551-5776 or Michael Henderson at 202- 551-3364 with any questions. Sincerely, Division of Corporation Finance Office of Finance