HOUSTON (AP) — HOUSTON (AP) — Stellar Bancorp, Inc. (STEL) on Friday reported first-quarter profit of $37.1 million.
The bank, based in Houston, said it had earnings of 70 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The bank holding company posted revenue of $147.9 million in the period. Its revenue net of interest expense was $123.3 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $119.7 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STEL at https://www.zacks.com/ap/STEL
Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
