- Stellar Bancorp, Inc. (STEL, Financial) initiates a new $65 million share repurchase program.
- The 2025-2026 Repurchase Program starts after the completion of the previous $60 million program.
- Stellar Bank becomes a member of the Federal Reserve System.
Stellar Bancorp, Inc. (STEL) has announced a new share repurchase program authorized by its Board of Directors, allowing the company to buy back up to $65 million of its common stock through May 31, 2026. This decision follows the termination of the previous $60 million repurchase program, which saw significant activity, including the repurchase of 2,167,193 shares at various prices during the prior months.
The 2025-2026 Repurchase Program enables Stellar to repurchase shares at its discretion through different transaction types, including open market and block trades. While the plan allows flexibility in the timing and volume of purchases, it does not obligate the company to any specific acquisition target, allowing it to respond to market conditions and corporate priorities as needed.
Additionally, Stellar Bank has successfully completed its application to become a member of the Federal Reserve System, effective April 14, 2025. This membership changes its primary federal regulator to the Board of Governors of the Federal Reserve System, with the Texas Department of Banking maintaining its role as the primary state regulator.
