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), California's largest community bank serving eight counties since 1977, maintains this dedicated news hub for stakeholders tracking its financial developments. Investors and analysts will find authoritative coverage of earnings announcements, leadership updates, regulatory filings, and strategic initiatives shaping this FDIC-insured institution.
The curated repository ensures timely access to material disclosures including quarterly performance reports, dividend declarations, and operational expansions. Users benefit from consolidated updates on commercial lending activities, agricultural financing programs, and retail banking innovations central to Sierra Bancorp's community-focused mission.
Key content categories encompass merger/acquisition disclosures, capital management decisions, board appointments, and service area expansions across California's Central Valley and coastal regions. All information undergoes verification against primary sources to ensure regulatory compliance and factual accuracy.
Bookmark this page for streamlined monitoring of Sierra Bancorp's financial health indicators, market positioning updates, and governance developments. Cross-reference historical announcements through our chronological archive to analyze trends in this regional banking leader's growth trajectory.
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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