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 Income

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


· · Three months ended June 30, · · Six months ended June 30,
· 2024 · 2023 · 2024 · · 2023
Interest and dividend income
Loans, including fees	$28,518	$24,270	$53,945	$46,821
Taxable securities	12,787	13,488	26,090	25,472
Tax-exempt securities	1,592	2,741	3,581	5,555
Federal funds sold and other	598	376	839	446
Total interest income	43,495	40,875	84,455	78,294
Interest expense
Deposits	11,032	7,943	20,676	13,943
Federal funds purchased and repurchase agreements	68	959	354	2,518
Federal Home Loan Bank advances	1,040	2,536	2,167	3,169
Long-term debt	430	429	861	857
Subordinated debentures	755	691	1,510	1,358
Total interest expense	13,325	12,558	25,568	21,845
Net interest income	30,170	28,317	58,887	56,449
Credit loss expense - loans	921	77	1,018	327
Credit loss (benefit) expense - unfunded commitments	(20)	(100)	10	(137)
Credit loss benefit - debt securities held-to-maturity	—	(47)	—	—
Net interest income after provision for credit losses	29,269	28,387	57,859	56,259
Noninterest income
Service charges and fees on deposit accounts	6,184	5,691	11,909	11,071
Net gain (loss) on sale of securities available-for-sale	—	351	(2,883)	396
Net gain on sale of fixed assets	—	—	3,799
Increase in cash surrender value of life insurance	523	658	1,738	830
Other income	923	1,313	1,656	2,296
Total noninterest income	7,630	8,013	16,219	14,593
Noninterest expense
Salaries and employee benefits	12,029	12,129	25,226	24,944
Occupancy and equipment costs	3,152	2,438	6,177	4,769
Other	7,511	8,401	15,815	16,247
Total noninterest expense	22,692	22,968	47,218	45,960
Income before taxes	14,207	13,432	26,860	24,892
Provision for income taxes	3,944	3,513	7,267	6,222
Net income	$10,263	$9,919	$19,593	$18,670

PER SHARE DATA
Book value	$24.19	$20.90	$24.19	$20.90
Cash dividends	$0.23	$0.23	$0.46	$0.46
Earnings per share basic	$0.72	$0.67	$1.36	$1.26
Earnings per share diluted	$0.71	$0.67	$1.35	$1.26
Average shares outstanding, basic	14,300,267	14,735,568	14,404,368	14,853,052
Average shares outstanding, diluted	14,381,426	14,754,764	14,467,477	14,875,508

Total shareholders' equity (in thousands)	$350,020	$309,592	$350,020	$309,592
Shares outstanding	14,466,873	14,811,736	14,466,873	14,811,736
Dividends paid (in thousands)	$3,352	$3,459	$6,748	$6,954

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.