Allegiance

Stellar Bancorp, Inc. Reports Third Quarter 2023 Results

Retrieved on: 
Friday, October 27, 2023

Solid Margin: Tax equivalent net interest margin was 4.37% for the third quarter of 2023 as compared to 4.49% in the second quarter of 2023.

Key Points: 
  • Solid Margin: Tax equivalent net interest margin was 4.37% for the third quarter of 2023 as compared to 4.49% in the second quarter of 2023.
  • Stellar’s net interest income in the third quarter 2023 decreased $1.6 million, or 1.4%, from $108.3 million for the second quarter 2023.
  • Stellar’s efficiency ratio was 63.50% for the third quarter 2023 compared to 60.83% for the second quarter 2023.
  • The provision for credit losses for the third quarter 2023 was $2.3 million compared to $1.9 million for the second quarter 2023.

Allegiance Gold Named 749th Fastest Growing Company in the U.S. by Inc. 5000

Retrieved on: 
Tuesday, August 15, 2023

Allegiance Gold proudly announces that it has been awarded the 749th ranking on Inc. 5000’s highly prestigious list of the fastest-growing, privately-held, for-profit companies in the U.S.

Key Points: 
  • Allegiance Gold proudly announces that it has been awarded the 749th ranking on Inc. 5000’s highly prestigious list of the fastest-growing, privately-held, for-profit companies in the U.S.
  • The 2023 Inc. 5000 list also names Allegiance Gold as the 46th fastest growing financial services firm in the U.S., the 109th fastest growing firm in California, and 44th fastest growing firm in the Los Angeles-Long Beach-Anaheim area.
  • Guided by its mission to help individuals protect their wealth and retirement accounts by diversifying and investing in physical precious metals such as gold and silver, Allegiance Gold witnessed a remarkable 800% growth rate between 2019 and 2022.
  • Allegiance Gold CEO Mark Naaman says, “From a modest dream to a remarkable reality, our journey over the past decade has been a truly astonishing success worth celebrating.

Stellar Bancorp, Inc. Reports Second Quarter 2023 Results

Retrieved on: 
Friday, July 28, 2023

Stellar’s net interest income in the second quarter 2023 decreased $7.5 million, or 6.5%, from $115.8 million for the first quarter 2023.

Key Points: 
  • Stellar’s net interest income in the second quarter 2023 decreased $7.5 million, or 6.5%, from $115.8 million for the first quarter 2023.
  • Noninterest income decreased in the second quarter of 2023 compared to the first quarter of 2023 primarily due to Small Business Investment Company income recognized in the first quarter of 2023.
  • The decrease in noninterest expense in the second quarter of 2023 compared to the first quarter of 2023 was primarily due to a decrease in acquisition and merger-related expenses which totaled $2.9 million for the second quarter of 2023 compared to $6.2 million in the first quarter of 2023.
  • The provision for credit losses for the second quarter 2023 was $1.9 million compared to $3.7 million for the first quarter 2023.

How teachers can stay true to history without breaking new laws that restrict what they can teach about racism

Retrieved on: 
Friday, June 2, 2023

Since 2021, at least 28 states have adopted measures that restrict how teachers can teach the history of racism in the U.S.

Key Points: 
  • Since 2021, at least 28 states have adopted measures that restrict how teachers can teach the history of racism in the U.S.
  • Some observers have posited that the wave of new education laws will have a chilling effect on how history is taught.
  • But a close look at these laws shows that they are generally written so broadly that they can’t effectively stop teachers from teaching history in a way that’s fair, accurate and true.

Weaknesses seen

    • Critical race theory is a concept that holds that racism is not just something that takes place among individuals, but rather has been embedded in American law and policy.
    • Some, such as law professor Jonathan Feingold, go so far as to say most of the laws actually call for more CRT, not less.
    • However, I do see a lot of leeway and loopholes in the laws.

Focus on the free market

    • To make this more relatable to children, teachers could discuss something that every child understands: food and hunger.
    • Teachers can point out that for all the prowess of America’s free market, before the Civil War, that free market was largely dependent on the violence and forced labor that slavery involved.

Examining the concept of liberty

    • So were most of the signers of the Declaration of Independence, which famously describes liberty as an “inalienable” God-given right.
    • Teachers could also examine the starkly different visions of liberty that developed over time.

Paying homage to freed men in battle

    • This serves as a great reason to teach about formerly enslaved men – including those who were awarded the Medal of Honor – who joined the Union army and helped defeat the Confederacy.
    • By studying these men and the reason they received these medals, students will learn the role that Black people themselves played in the abolition of slavery – the largest expansion of liberty in American history.

Rudy Ruiz's The Border Between Us To Be Published In 2024

Retrieved on: 
Tuesday, May 23, 2023

SAN ANTONIO, May 23, 2023 /PRNewswire/ -- Award-winning author Rudy Ruiz has inked a new book deal with Blackstone Publishing for the release of his next novel, The Border Between Us. The book is due out in September 2024.

Key Points: 
  • SAN ANTONIO, May 23, 2023 /PRNewswire/ -- Award-winning author Rudy Ruiz has inked a new book deal with Blackstone Publishing for the release of his next novel, The Border Between Us.
  • "It's wonderful to build momentum with readers and fans of literary fiction," Rudy Ruiz states.
  • While fictional, it draws inspiration from my experiences coming of age on both sides of the U.S.-Mexico border as well as in the Northeast."
  • "Blackstone Publishing is incredibly excited to continue publishing Rudy Ruiz," says senior acquisitions editor Marilyn Kretzer.

Stellar Bancorp, Inc. Reports First Quarter 2023 Results

Retrieved on: 
Friday, April 28, 2023

Tax equivalent net interest margin was 4.80% for the first quarter of 2023 as compared to 4.71% in the fourth quarter of 2022.

Key Points: 
  • Tax equivalent net interest margin was 4.80% for the first quarter of 2023 as compared to 4.71% in the fourth quarter of 2022.
  • Book value per share was $27.14 for the first quarter 2023 compared to $26.12 for the fourth quarter 2022.
  • Tangible book value per share increased to $15.24(1) for the first quarter 2023 from $14.02(1) for the fourth quarter 2022.
  • Stellar’s net interest income in the first quarter 2023 increased $213 thousand, or 0.2%, from $115.6 million for the fourth quarter 2022.

Stellar Bancorp, Inc. Reports Fourth Quarter 2022 Results

Retrieved on: 
Friday, January 27, 2023

The fourth quarter 2022 results for Stellar reflect the merger of equals (the “Merger”) between Allegiance Bancshares, Inc. (“Allegiance”) and CBTX, Inc. (“CBTX”), which became effective on October 1, 2022.

Key Points: 
  • The fourth quarter 2022 results for Stellar reflect the merger of equals (the “Merger”) between Allegiance Bancshares, Inc. (“Allegiance”) and CBTX, Inc. (“CBTX”), which became effective on October 1, 2022.
  • Stellar’s net interest income in the fourth quarter 2022 increased $57.5 million, or 99.0%, to $115.6 million from $58.1 million for the fourth quarter 2021 and increased $54.9 million, or 90.5%, from $60.7 million for the third quarter 2022.
  • Noninterest expense for the fourth quarter 2022 increased $42.9 million, or 116.7%, to $79.6 million from $36.7 million for the fourth quarter 2021 and increased $35.6 million, or 80.8%, compared to the third quarter of 2022.
  • Stellar’s efficiency ratio increased to 65.14% for the fourth quarter 2022 compared to 60.68% for the fourth quarter 2021 and decreased from 69.18% for the third quarter 2022.

Danny Minor Named Allegiance Staffing President

Retrieved on: 
Tuesday, January 24, 2023

HOUSTON, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Allegiance Staffing LLC ("Allegiance") announces today the appointment of Danny Minor as president.

Key Points: 
  • HOUSTON, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Allegiance Staffing LLC ("Allegiance") announces today the appointment of Danny Minor as president.
  • Danny Minor was elected Allegiance Staffing president after 20+ years of service to the company.
  • Mr. Minor is replacing Tom Landry, who has been the President of Allegiance since the inception of the company in 2002.
  • He pushed the boundaries of what was capable in the staffing industry to elevate the quality of Allegiance Staffing.

Allegiance Bancshares, Inc. and CBTX, Inc. Complete Merger of Equals to Become Stellar Bancorp, Inc.

Retrieved on: 
Friday, September 30, 2022

The merger creates the 9th largest bank headquartered in Texas with the 19th largest deposit market share in the State of Texas.

Key Points: 
  • The merger creates the 9th largest bank headquartered in Texas with the 19th largest deposit market share in the State of Texas.
  • The completion of this merger unites our two similarly-focused community banks, said CBTXs Chairman, CEO and President Robert R. Franklin, Jr., who will lead Stellar as CEO.
  • At the effective time of the merger, each share of Allegiance common stock will be converted into the right to receive 1.4184 shares of Stellar common stock.
  • Allegiance shareholders will receive cash in lieu of fractional shares, in accordance with the terms of the merger agreement.

Allegiance Bancshares, Inc. and CBTX, Inc. Complete Merger of Equals to Become Stellar Bancorp, Inc.

Retrieved on: 
Friday, September 30, 2022

The merger creates the 9th largest bank headquartered in Texas with the 19th largest deposit market share in the State of Texas.

Key Points: 
  • The merger creates the 9th largest bank headquartered in Texas with the 19th largest deposit market share in the State of Texas.
  • The completion of this merger unites our two similarly-focused community banks, said CBTXs Chairman, CEO and President Robert R. Franklin, Jr., who will lead Stellar as CEO.
  • At the effective time of the merger, each share of Allegiance common stock will be converted into the right to receive 1.4184 shares of Stellar common stock.
  • Allegiance shareholders will receive cash in lieu of fractional shares, in accordance with the terms of the merger agreement.