News Summary
Stellar Bancorp, Inc. has announced a dual listing of its common stock on NYSE Texas, becoming the first bank holding company to do so as a Founding Member. This strategic move showcases Stellar’s commitment to its Texas roots while maintaining its primary listing on the New York Stock Exchange. The dual listing is expected to enhance visibility and access for potential investors, significantly impacting the Texas financial industry and reflecting the bank’s role in serving local communities.
Houston, Texas – Stellar Bancorp, Inc. Announces Dual Listing on NYSE Texas
Stellar Bancorp, Inc. has confirmed that it will dual list its common stock on NYSE Texas, making it the first bank holding company to achieve this status as a Founding Member. The news follows the company’s decision to retain its primary listing on the New York Stock Exchange (NYSE) where its ticker symbol “STEL” will remain unchanged on both exchanges.
This announcement was made at the company headquarters in Houston, Texas. The move to list on NYSE Texas reflects Stellar’s commitment to its Texas roots, as well as its goal to better serve the financial needs of the state’s communities.
Significance of the Listing
The dual listing on NYSE Texas is expected to enhance the visibility of Stellar Bancorp within the financial community, providing greater access to potential investors and increasing liquidity for its shares. This is a significant milestone not only for the bank but also for the Texas financial industry as a whole.
Chris Taylor, the Chief Development Officer of NYSE Group, noted the importance of Stellar Bancorp in the state’s economic landscape, highlighting how the company plays a crucial role in serving Texas residents and businesses.
About Stellar Bancorp, Inc.
Headquartered in Houston, Texas, Stellar Bancorp, Inc. operates through its principal banking subsidiary, Stellar Bank. The bank specializes in providing commercial banking services primarily to small- and medium-sized businesses, as well as individual customers. Stellar Bank has established a strong presence in various communities across Houston, Dallas, Beaumont, and the surrounding areas of Texas.
This strategic decision to list on NYSE Texas aligns with Stellar’s mission to extend its reach and strengthen its ability to meet the diverse financial needs of its clientele throughout the state.
Forward-Looking Statements
The company’s recent press release included forward-looking statements as per the Private Securities Litigation Reform Act of 1995. These statements may involve potential risks and uncertainties that could affect Stellar Bancorp’s future results and performance. The company has made it clear that it does not take on any duty to update these forward-looking statements unless required by law. The statements may cover projections related to the bank’s objectives, strategies, and expectations moving forward.
For investor relations inquiries, interested parties can reach out through the designated email address: IR@stellar.bank.
Conclusion
The dual listing of Stellar Bancorp on NYSE Texas marks a pivotal moment for the company and the Texas banking sector. With a strong commitment to serving the financial needs of its communities and an established strategic position within the state, Stellar is poised to strengthen its influence and support for Texas businesses and individuals alike.
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Additional Resources
- Business Wire: Stellar Bancorp, Inc. Announces Dual Listing on NYSE Texas
- GuruFocus: Stellar Bancorp, Inc. Announces Dual Listing on NYSE Texas
- Business Wire: Stellar Bancorp, Inc. Announces Quarterly Dividend
- Wikipedia: Stellar Bancorp
- Google Search: Stellar Bancorp
