SIERRA BANCORP

For the period ended Sep 30, 2024. Filed Nov 7, 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.

Sep 30, 2024 · Filed Nov 7, 2024

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

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Contents

Consolidated Statements of Income

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024, and 2023


· · Three months ended September 30, · · Nine months ended September 30,
· 2024 · 2023 · 2024 · · 2023
Interest and dividend income
Loans, including fees	$29,998	$24,915	$83,943	$71,736
Taxable securities	11,991	14,375	38,081	39,848
Tax-exempt securities	1,584	2,679	5,164	8,233
Federal funds sold and other	1,225	415	2,065	861
Total interest income	44,798	42,384	129,253	120,678
Interest expense
Deposits	11,980	8,767	32,656	22,710
Federal funds purchased and repurchase agreements	62	817	415	3,335
Federal Home Loan Bank advances	786	3,522	2,954	6,692
Long-term debt	429	429	1,291	1,286
Subordinated debentures	751	762	2,261	2,120
Total interest expense	14,008	14,297	39,577	36,143
Net interest income	30,790	28,087	89,676	84,535
Credit loss expense - loans	1,240	117	2,258	444
Credit loss expense (benefit) - unfunded commitments	120	(150)	130	(240)
Credit loss benefit - debt securities held-to-maturity	(1)	—	(1)	(47)
Net interest income after credit loss expense	29,431	28,120	87,289	84,378
Noninterest income
Service charges and fees on deposit accounts	6,205	6,055	18,114	17,127
Net gain (loss) on sale of securities available-for-sale	73	—	(2,810)	396
Net gain on sale of fixed assets	—	—	3,799	—
Increase in cash surrender value of life insurance	540	558	2,278	1,388
Other income	971	1,149	2,628	3,444
Total noninterest income	7,789	7,762	24,009	22,355
Noninterest expense
Salaries and employee benefits	12,363	12,623	37,589	37,567
Occupancy and equipment costs	2,995	2,482	9,173	7,251
Other	7,452	7,457	23,266	23,704
Total noninterest expense	22,810	22,562	70,028	68,522
Income before taxes	14,410	13,320	41,270	38,211
Provision for income taxes	3,807	3,435	11,074	9,656
Net income	$10,603	$9,885	$30,196	$28,555

PER SHARE DATA
Book value	$24.88	$21.01	$24.88	$21.01
Cash dividends	$0.24	$0.23	$0.70	$0.69
Earnings per share basic	$0.75	$0.68	$2.11	$1.93
Earnings per share diluted	$0.74	$0.68	$2.09	$1.93
Average shares outstanding, basic	14,188,051	14,583,132	14,331,032	14,762,231
Average shares outstanding, diluted	14,335,706	14,636,477	14,437,786	14,791,696

Total shareholders' equity (in thousands)	$358,698	$308,859	$358,698	$308,859
Shares outstanding	14,414,561	14,702,079	14,414,561	14,702,079
Dividends paid (in thousands)	$3,431	$3,407	$10,179	$10,361

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.