SIERRA BANCORP

For the period ended Mar 31, 2024. Filed May 6, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 6, 2024

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

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Contents

Consolidated Statements of Income

(dollars in thousands, except per share data, unaudited)


· · Three months ended March 31,
	2024		2023
Interest and dividend income
Loans, including fees		$25,426		$22,550
Taxable securities		13,303		11,986
Tax-exempt securities		1,989		2,813
Federal funds sold and other		243		70
Total interest income		40,961		37,419
Interest expense
Deposits		9,645		5,999
Federal funds purchased and repurchase agreements		286		1,560
Federal Home Loan Bank advances		1,127		632
Long-term debt		431		429
Subordinated debentures		755		667
Total interest expense		12,244		9,287
Net interest income		28,717		28,132
Credit loss expense - loans		97		250
Credit loss expense - unfunded commitments		30		10
Net interest income after provision for credit losses		28,590		27,872
Noninterest income
Service charges and fees on deposit accounts		5,726		5,380
Net (loss) gain on sale of securities available-for-sale		(2,883)		45
Net gain on sale of fixed assets		3,799		14
Increase in cash surrender value of life insurance		1,215		172
Realized gain on available-for-sale securities		66		—
Other income		666		968
Total noninterest income		8,589		6,579
Noninterest expense
Salaries and employee benefits		13,197		12,816
Occupancy and equipment costs		3,025		2,330
Other		8,304		7,846
Total noninterest expense		24,526		22,992
Income before taxes		12,653		11,459
Provision for income taxes		3,323		2,708
Net income		$9,330		$8,751

PER SHARE DATA
Book value		$23.56		$20.40
Cash dividends		$0.23		$0.23
Earnings per share basic		$0.64		$0.58
Earnings per share diluted		$0.64		$0.58
Average shares outstanding, basic		14,508,468		14,971,842
Average shares outstanding, diluted		14,553,627		15,002,366

Total shareholders' equity (in thousands)		$345,094		$307,010
Shares outstanding		14,645,298		15,050,740
Dividends paid (in thousands)		$3,396		$3,495

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.