SIERRA BANCORP

For the period ended Dec 31, 2023. Filed Mar 22, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 22, 2024

BSRR$42.14+0.5%Stored close · as of Nov 10, 2026

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Contents

III. Consolidated Balance Sheets – December 31, 2023 and 2022

CONSOLIDATED BALANCE SHEETS

December 31, 2023 and 2022


	2023		2022
ASSETS
Cash and due from banks		$73,721		$72,803
Interest bearing deposits in banks		4,881		4,328
Cash and cash equivalents		78,602		77,131
Investment securities
Available-for-sale, net of zero allowance for credit losses		1,019,201		934,923
Held-to-maturity, net of allowance for credit losses of $16 and $63		320,057		336,881
Total investment securities		1,339,258		1,271,804
Loans:
Gross loans		2,090,075		2,052,940
Deferred loan costs (fees), net		309		(123)
Allowance for credit losses on loans		(23,500)		(23,060)
Net loans		2,066,884		2,029,757
Premises and equipment, net		16,907		22,478
Goodwill		27,357		27,357
Other intangible assets, net		1,399		2,275
Company owned life insurance		51,572		52,169
Other assets		147,820		125,619
		$3,729,799		$3,608,590
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits:
Noninterest bearing		$1,020,772		$1,088,199
Interest bearing		1,740,451		1,757,965
Total deposits		2,761,223		2,846,164
Repurchase agreements		107,121		109,169
Other borrowings		360,500		219,000
Long-term debt		49,304		49,214
Subordinated debentures, net		35,660		35,481
Allowance for credit losses on unfunded loan commitments		510		840
Other liabilities		77,384		45,140
Total liabilities		3,391,702		3,305,008
Commitments and contingent liabilities (Note 14)
Shareholders' equity
Serial Preferred stock, no par value; 10,000,000 shares authorized; none issued; Common stock, no par value; 24,000,000 shares authorized; 14,793,832 and 15,170,372 shares issued and outstanding , respectively		110,446		112,928
Additional paid-in capital		4,581		4,148
Retained earnings		259,050		243,082
Accumulated other comprehensive loss, net of taxes of $14,874 and $23,746		(35,980)		(56,576)
Total shareholders' equity		338,097		303,582
		$3,729,799		$3,608,590

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.