SIERRA BANCORP
For the period ended Mar 31, 2026. Filed May 1, 2026.
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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, 2026 · Filed May 1, 2026
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Nonperforming Assets
Nonperforming assets are currently comprised of loans for which the Company is no longer accruing interest and foreclosed assets.
Nonperforming assets
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · March 31, 2026 · · December 31, 2025 · · March 31, 2025 | |||||||||
| Nonperforming loans: | | | | | | | | | |
| Real estate: | | | | | | | | | |
| Residential real estate | | $505 | | $210 | | $264 | |||
| Commercial real estate | | | — | | | — | | | 5,876 |
| Other construction/land | | | — | | | — | | | — |
| Farmland | | | 3,105 | | | 1,717 | | | 1,709 |
| Total real estate nonperforming loans | | | 3,610 | | | 1,927 | | | 7,849 |
| Other commercial | | | 6,800 | | | 11,304 | | | 10,352 |
| Consumer loans | | | — | | | — | | | — |
| Total nonperforming loans | | | 10,410 | | | 13,231 | | | 18,201 |
| | | | | | | | | | |
| Foreclosed assets | | | — | | | 1,565 | | | — |
| Total nonperforming assets | | $10,410 | | $14,796 | | $18,201 | |||
| Nonperforming loans as a % of total gross loans | | | 0.42% | | | 0.52% | | | 0.79% |
| Nonperforming assets as a % of total gross loans and foreclosed assets | | | 0.42% | | | 0.58% | | | 0.79% |
Total nonperforming assets, comprised of nonaccrual loans and foreclosed assets, declined $4.4 million to $10.4 million at March 31, 2026, compared to $14.8 million at December 31, 2025. This improvement was driven by a reduction in nonaccrual loan balances, reflecting resolutions and paydowns within the Company’s criticized loan portfolio. The Company’s ratio of nonperforming loans to gross loans decreased to approximately 0.42% at March 31, 2026, compared
to approximately 0.52% at December 31, 2025, reflecting both the reduction in nonperforming loan balances and a modest decline in total loan balances during the quarter.
The Company had no foreclosed assets at March 31, 2026, compared to $1.6 million at December 31, 2025, as the remaining foreclosed property was resolved during the quarter. All nonperforming assets are individually evaluated for credit losses on a quarterly basis, and Management believes the allowance for credit losses allocated to these loans is appropriate.
An action plan is in place for each non-accruing loan, and they are all being actively managed. Collection efforts are continuously pursued for all nonperforming loans, but the Company cannot provide assurance that they will be resolved in a timely manner or that nonperforming balances will not increase.
The Company had $0.9 million in loans past due 30-89 days and still accruing at March 31, 2026. This was a decrease of $5.9 million compared to the balance at December 31, 2025. All of these past due loans are under Management supervision, and every effort is being taken to assist the borrowers and manage credit risk in this regard.
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