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 reports recurring developments for its community banking business as the parent of Bank of the Sierra. Company news centers on quarterly earnings, loan and deposit trends, regulatory capital measures, commercial real estate concentration, service-charge income, bank-owned life insurance income, and funding used in the bank’s mortgage warehouse business line.
The company’s updates also cover regular cash dividends, share repurchase authorizations, and branch-based retail and commercial banking activity across markets in California’s San Joaquin Valley, Central Coast, and surrounding counties. Reported banking services include deposit accounts, real estate and commercial lending, agricultural and consumer loans, an online branch, and specialized mortgage warehouse lending.
Sierra Bancorp (NASDAQ: BSRR) announced a new share repurchase program, allowing the company to buy back up to 630,000 shares of common stock. This program starts after the current one ends on October 31, 2022, and runs until October 31, 2023. Additionally, the Board declared a quarterly cash dividend of $0.23 per share, to be paid on November 14, 2022, marking the 95th consecutive quarterly dividend. These moves aim to enhance shareholder value and reflect the company’s financial health amidst ongoing market conditions.
Sierra Bancorp (BSRR) reported Q2 2022 net income of $9.2 million ($0.61/share), a decline from $11.7 million ($0.76/share) in Q2 2021 but a 24% increase from Q1 2022. Year-to-date net income is $16.6 million compared to $22.8 million in 2021. Key metrics include a return on average equity of 10.10% and return on average assets of 0.98%. Net interest income fell 2% due to higher interest expenses from subordinated debt and rising rates. Noninterest income rose significantly, mainly from asset sales. The board declared a $0.23 dividend, marking its 94th consecutive payout.
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.