Welcome to our dedicated page for Sierra Bancorp news (Ticker: BSRR), a resource for investors and traders seeking the latest updates and insights on Sierra Bancorp stock.
Sierra Bancorp (NASDAQ: BSRR) is a prominent bank holding company based in California. Founded in 1977, it operates as the parent company of Bank of the Sierra, the largest community bank headquartered in California's heartland. Over the decades, Sierra Bancorp has expanded its market reach to include Tulare, Kern, Kings, Fresno, Los Angeles, San Luis Obispo, Santa Barbara, and Ventura counties.
Offering a broad spectrum of retail and commercial banking services, Sierra Bancorp caters to both individuals and businesses. Their extensive range of deposit products includes checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts. On the lending side, they provide diverse options such as real estate loans, commercial loans (including small business), mortgage warehouse loans, agricultural loans, consumer loans, commercial construction loans, along with multifamily and agricultural credit facilities.
Sierra Bancorp's financial strength is rooted in sound banking practices, which have led to remarkable growth throughout its history. As a member of the FDIC, the company ensures adherence to stringent regulatory standards, commanding trust and reliability in the banking sector.
Latest Achievements and Projects:
- Continued expansion into new counties, bolstering their presence in California's financial landscape.
- Introduction of advanced online and mobile banking services to enhance customer convenience.
- Strong financial performance with robust lending activities supporting local businesses and communities.
For stockholders and potential investors, Sierra Bancorp represents a steadfast institution with a proven track record of growth and community service.
Sierra Bancorp (Nasdaq: BSRR) has declared a quarterly cash dividend of
Sierra Bancorp (Nasdaq: BSRR) reported a consolidated net income of $7.4 million for Q1 2022, down from $11.1 million in Q1 2021, primarily due to a $3.8 million decrease in net interest income. Return on average assets fell to 0.88%, and return on average equity decreased to 8.64%. Deposits grew 3% to $2.9 billion, supported by expanded agricultural lending efforts. The Company repurchased $4.9 million in shares and declared a cash dividend of $0.23 per share, marking its 93rd consecutive dividend.
Sierra Bancorp (NASDAQ: BSRR) has declared a regular quarterly cash dividend of $0.23 per share following a review of its financial performance for the quarter ending March 31, 2022. This dividend will be distributed on May 12, 2022, to shareholders on record as of May 2, 2022. This marks the company's 93rd consecutive quarterly cash dividend, highlighting its commitment to returning value to shareholders since 1987.
Sierra Bancorp (BSRR) reported a net income of $43.0 million for 2021, a 21% increase from $35.4 million in 2020. The diluted earnings per share rose to $2.80 compared to $2.32 in the previous year. For Q4 2021, net income was $9.6 million, up from $9.0 million in Q4 2020. Deposit growth was $157.0 million, or 6%, with total assets increasing by 5% to $3.4 billion. The company also reported a decrease in loan balances by 19% during the year, largely due to reduced refinancing activity.
Sierra Bancorp (NASDAQ: BSRR) has declared a quarterly cash dividend of $0.23 per share, marking a 5% increase from the previous quarter. This dividend, the Company’s 92nd consecutive quarterly cash dividend, reflects the Board's review of financial performance for the quarter ending December 31, 2021. The payment date is set for February 14, 2022, with a record date of January 31, 2022. Sierra Bancorp has a track record of uninterrupted dividends since 1987.
Sierra Bancorp (Nasdaq: BSRR) reported a consolidated net income of $10.6 million for Q3 2021, up from $10.4 million in Q3 2020. Year-to-date net income reached $33.4 million, a 26% increase from $26.5 million in 2020. The return on average assets improved to 1.36% and return on equity to 12.60%. The bank completed a $50 million issuance of subordinated debentures. Despite a $1.4 million decrease in net interest income, noninterest income increased 6% and deposits grew by $196 million, or 7%.
Sierra Bancorp (NASDAQ: BSRR) announced a new share repurchase program allowing for the buyback of up to one million shares, starting after the current blackout period and ending October 31, 2022. This program replaces a previous initiative and is expected to enhance long-term shareholder value. Additionally, the Board declared a quarterly cash dividend of
Sierra Bancorp (NASDAQ: BSRR) has successfully completed a private placement of $50 million in fixed-to-floating rate subordinated notes due 2031. The notes, rated BBB- by Kroll Bond Rating Agency, will have a fixed interest rate of 3.25% for the first five years, transitioning to a variable rate based on SOFR thereafter. The company intends to utilize the proceeds for general corporate purposes. These notes qualify as Tier 2 capital, enhancing the bank's regulatory position and financial stability.
Kroll Bond Rating Agency (KBRA) has assigned ratings to Sierra Bancorp (NASDAQ: BSRR), with a senior unsecured debt rating of BBB and subordinated debt rating of BBB-. The Bank of the Sierra, its lead subsidiary, received a deposit rating of BBB+ and a short-term debt rating of K3. The Outlook for all long-term ratings is Stable. The ratings reflect the bank's solid earnings history, low credit costs, and favorable deposit mix. Despite growth in the high-risk investor commercial real estate sector, the bank maintains adequate loan loss reserves and a strong management team.
Sierra Bancorp (Nasdaq: BSRR) reported strong financial results for Q2 2021, with net income rising to $11.7 million or $0.76 per diluted share, compared to $8.3 million or $0.54 per share in Q2 2020. Year-to-date net income reached $22.8 million, an increase from $16.1 million in the previous year. Key metrics include a 1.41% return on average assets and 13.11% return on average equity. Despite favorable results, the company anticipates challenges ahead due to low interest rates and competitive pressures.
FAQ
What is the current stock price of Sierra Bancorp (BSRR)?
What is the market cap of Sierra Bancorp (BSRR)?
What year was Sierra Bancorp founded?
What types of banking services does Sierra Bancorp offer?
Where is Sierra Bancorp headquartered?
What counties does Sierra Bancorp serve?
What lending options are available at Sierra Bancorp?
Is Sierra Bancorp a member of the FDIC?
What recent projects has Sierra Bancorp undertaken?
How can I open an account with Sierra Bancorp?
What is the ticker symbol for Sierra Bancorp?
What makes Sierra Bancorp unique?
