SIERRA BANCORP

For the period ended Jun 30, 2024. Filed Aug 5, 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.

Jun 30, 2024 · Filed Aug 5, 2024

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

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Consolidated Statements of Cash Flows

FOR THE SIX MONTHS ENDED JUNE 30, 2024, AND 2023


· · · Six months ended June 30,
	2024		2023
Cash flows from operating activities:
Net income		$19,593		$18,670
Adjustments to reconcile net income to net cash provided by operating activities:
Loss (gain) on sales of securities		2,883		(396)
Realized gain on securities transaction		(66)		—
Gain on disposal of fixed assets		(3,799)		(14)
Stock-based compensation expense		1,008		819
Provision for credit losses on loans		1,018		327
Benefit for credit losses on held-to-maturity securities		—		(47)
Depreciation and amortization		1,057		1,206
Net amortization on securities premiums and discounts		614		1,484
Net accretion of premiums/discounts for loans acquired		(158)		(160)
Increase in cash surrender value of life insurance policies		(1,738)		(830)
Amortization of core deposit intangible		438		438
Increase in interest receivable and other assets		(11,614)		(301)
(Decrease) increase in other liabilities		(2,291)		4,315
Deferred income tax benefit		(289)		(231)
Decrease in value of restricted bank equity securities		293		291
Amortization of debt issuance costs		44		45
Net amortization of partnership investment		608		244
Net cash provided by operating activities		7,601		25,860
Cash flows from investing activities:
Maturities and calls of securities available for sale		35,713		63,481
Proceeds from sales of securities available for sale		233,187		25,676
Purchases of securities available for sale		(29,126)		(197,153)
Principal pay downs on securities available for sale		73,852		22,836
Net purchases of FHLB stock		—		(1,929)
Loan originations and payments, net		(149,884)		(41,864)
Purchases of premises and equipment		(787)		(722)
Proceeds from sale of premises and equipment		4,518		25
Proceeds from sales of foreclosed assets		2,732		—
Purchase of bank-owned life insurance		(175)		(71)
Proceeds from BOLI death benefit		54		345
Net cash provided by (used in) investing activities		170,084		(129,376)
Cash flows from financing activities:
Increase in deposits		181,187		72,595
(Decrease) increase in Fed funds purchased		(130,000)		40,000
Decrease in short-term Federal Home Loan Bank advances		(150,500)		(13,800)
Proceeds from long-term Federal Home Loan Bank advances and other debt		—		80,000
Increase (decrease) in customer repurchase agreements		40,882		(35,447)
Cash dividends paid		(6,748)		(6,954)
Repurchases of common stock		(7,118)		(6,526)
Net cash (used in) provided by financing activities		(72,297)		129,868

Increase in cash and cash equivalents		105,388		26,352
Cash and cash equivalents
Beginning of period		78,602		77,131
End of period		$183,990		$103,483
Supplemental disclosure of cash flow information:
Interest paid		$23,140		$19,536
Income taxes paid		$6,721		$5,155
Supplemental schedule of noncash investing and financing activities:
Real estate acquired through foreclosure		$2,732		$15,406

SIERRA BANCORP

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.