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) announced its unaudited financial results for Q3 and the first nine months of 2024. The company reported a Q3 net income of $10.6 million, up 3% from the previous quarter. For the first nine months, net income rose to $30.2 million, a 6% increase from 2023. Diluted EPS for Q3 was $0.74, and $2.09 for the nine-month period, up 8% from last year. Key highlights include:
- Net interest income improved by $0.6 million QoQ.
- Loan growth of $86.1 million and deposit growth of $19.7 million in Q3.
- Asset quality remained strong with a nonperforming loans ratio of 0.45%.
- Tangible book value per share increased by 3% to $22.93.
- Return on average assets and equity remained stable at 1.14% and 11.95%, respectively.
Despite a challenging interest rate environment, Sierra Bancorp's strategic initiatives and operational efficiencies have driven consistent profitability and growth.
Sierra Bancorp (Nasdaq: BSRR), parent of Bank of the Sierra, has announced a new share repurchase program and declared a quarterly cash dividend. The Board of Directors has approved the repurchase of up to 1,000,000 shares of outstanding common stock, effective from November 1, 2024, to October 31, 2025. This program replaces the current one expiring on October 31, 2024.
Additionally, a regular quarterly cash dividend of $0.24 per share has been declared, payable on November 12, 2024, to shareholders of record as of October 31, 2024. This marks the company's 103rd consecutive quarterly cash dividend. Sierra Bancorp has consistently paid dividends since 1987, transitioning from annual to quarterly payments in 1998.
Sierra Bancorp (Nasdaq: BSRR), parent of Bank of the Sierra, announced improved financial results for Q2 and H1 2024.
Net income for Q2 2024 reached $10.3 million, or $0.71 per share, up from $9.9 million, or $0.67 per share, in Q2 2023. Year-to-date net income was $19.6 million, a 5% increase from $18.7 million in the first half of 2023.
Key metrics improved: Return on Average Assets (1.14%), Return on Average Equity (11.95%), and Net Interest Margin (3.69%). Total assets grew by $128.1 million to $3.7 billion. Loans and deposits saw annualized growth of 14% and 13%, respectively.
Highlights include: Decline in nonperforming loans to 0.29%, increase in tangible book value to $22.24 per share, and stock repurchase of 178,168 shares. The quarterly dividend was raised to $0.24 per share.
Challenges include increased provisions for credit losses and higher occupancy costs. Despite these, strategic initiatives and asset quality improvements bolster optimism for continued growth.
Sierra Bancorp (Nasdaq: BSRR), parent of Bank of the Sierra, has announced a 4% increase in its quarterly cash dividend to $0.24 per share. The dividend will be paid on August 15, 2024, to shareholders of record as of July 31, 2024. This marks the company's 102nd consecutive quarterly cash dividend since 1998, with a history of regular dividends dating back to 1987.
Bank of the Sierra, in its 47th year of operations, is the largest independent bank in the South San Joaquin Valley. It offers retail and commercial banking services through branches in seven California counties and maintains an online presence. In 2024, the bank received a 5-star rating from Bauer Financial, recognizing it as one of the strongest community banks in the country.
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