SIERRA BANCORP

For the period ended Jun 30, 2026. Filed Jul 31, 2026.

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.

Jun 30, 2026 · Filed Jul 31, 2026

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

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Contents

Consolidated Statements of Cash Flows

FOR THE SIX MONTHS ENDED JUNE 30, 2026 AND 2025


· · · Six months ended June 30,
· · 2026 · · 2025
Cash flows from operating activities:
Net income	$22,439	$19,734
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sales of securities	—	(124)
(Gain) loss on disposal of fixed assets	(360)	22
Stock based compensation expense	985	1,041
Provision for credit losses on loans	2,360	3,171
(Benefit) provision for credit losses on held-to-maturity securities	(1)	—
(Benefit) provision for credit losses on unfunded commitments	(140)	100
Depreciation and amortization	981	1,050
Net accretion on securities premiums and discounts	(754)	(153)
Net accretion of premiums/discounts for loans acquired	(7)	(149)
Increase in cash surrender value of life insurance policies	(1,841)	(1,051)
Amortization of core deposit intangible	52	324
Increase in interest receivable and other assets	(234)	(2,689)
Decrease in other liabilities	(8,893)	(17,587)
Deferred income tax benefit (provision)	1,361	(338)
Increase in value of restricted bank equity securities	(602)	—
Excise tax on stock repurchases	(281)	(111)
Amortization of debt issuance costs	45	45
Net amortization of variable interest entities	1,437	1,480
Net cash provided by operating activities	16,547	4,765
Cash flows from investing activities:
Maturities and calls of debt securities available-for-sale	23,264	11,000
Purchases of debt securities available-for-sale	(45,665)	(247,255)
Principal paydowns on debt securities available-for-sale	34,879	226,894
Maturities and calls of debt securities held-to-maturity	840	—
Principal paydowns on debt securities held-to-maturity	7,422	7,487
Net purchases of FHLB stock	(324)	—
Loan (originations) and payments, net	90,552	(109,347)
Purchases of premises and equipment	(129)	(836)
Proceeds from sale of premises and equipment	518	—
Proceeds from sales of foreclosed assets	1,565	—
Purchase of bank-owned life insurance	(47)	(127)
Purchase of split dollar life insurance policies	—	(15,000)
Liquidation of bank-owned life insurance	182	—
Capital contributions to partnership investments	(1,558)	—
Proceeds from BOLI death benefit	909	1,645
Net cash provided by (used in) investing activities	112,408	(125,539)
Cash flows from financing activities:
Increase in deposits	54,555	82,801
(Decrease) increase in Fed funds purchased	(90,000)	40,000
Decrease (increase) in short-term Federal Home Loan Bank advances	(12,700)	34,400
Repayments on Federal Home Loan Bank advances and other debt	(45,000)	—
(Decrease) increase in customer repurchase agreements	(8,489)	17,649
Cash dividends paid	(6,832)	(6,963)
Repurchase of common stock, net	(14,908)	(18,276)
Stock options exercised	1,486	511
Net cash (used in) provided by financing activities	(121,888)	150,122
Increase in cash and cash equivalents	7,067	29,348
Cash and cash equivalents
Beginning of period	135,628	100,664
End of period	$142,695	$130,012
Supplemental disclosure of cash flow information:
Interest paid	$24,332	$26,210
Income taxes paid	$6,730	$8,483
Supplemental schedule of noncash investing and financing activities:
Loans provided for sales of real estate owned	$1,000	$—
Right-of-use assets obtained in exchange for new lease liabilities	$573	$180

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