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 California-based bank holding company for Bank of the Sierra, a community-centric regional bank that provides retail and commercial banking services. This news page aggregates coverage of Sierra Bancorp’s announcements, focusing on the financial and operational information the company releases through press statements and SEC-referenced communications.
Investors and observers can use this page to follow quarterly and annual financial results, where Sierra Bancorp reports metrics such as net income, diluted earnings per share, net interest margin, efficiency ratio, loan growth, deposit trends, and asset quality measures. The company’s earnings releases also describe changes in mortgage warehouse utilization, commercial and real estate lending, deposit mix, and provisions for credit losses.
News items here also include dividend declarations and share repurchase program announcements. Sierra Bancorp regularly issues press releases when its Board of Directors approves quarterly cash dividends and when it authorizes or renews share repurchase programs for its common stock. These releases often reference the company’s long history of regular cash dividends dating back to 1987, as well as the number of consecutive quarterly dividends paid.
Additional coverage captures capital and liquidity updates, such as reported community bank leverage ratios, tangible common equity ratios, and descriptions of primary and secondary liquidity sources, as presented in the company’s financial communications. News may also highlight recognition received by Bank of the Sierra, including references to a 5-star rating from Bauer Financial, and note executive appointments or governance changes disclosed in conjunction with Form 8-K filings.
By reviewing the items on this page, readers can see how Sierra Bancorp describes its performance over time, including trends in loans, deposits, and profitability, as well as Board-level decisions on dividends, repurchases, and senior leadership.
Sierra Bancorp (Nasdaq: BSRR) has declared a quarterly cash dividend of $0.23 per share, scheduled for payment on August 15, 2022, to shareholders of record as of August 1, 2022. This marks the 94th consecutive quarterly dividend since its inception in 1987. The decision follows the Board's review of the company's financial performance for the quarter ended June 30, 2022.
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 $0.22 per share, marking the 91st consecutive quarterly dividend since 1987, with payment scheduled for November 11, 2021.
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.