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) reported a third-quarter 2020 net income of $10.4 million ($0.67 per diluted share), up from $9.0 million ($0.58 per diluted share) in Q3 2019. The return on average equity increased to 12.34% from 11.78%, driven by higher net interest income and noninterest income, despite a higher provision for loan losses. Year-to-date net income is $26.5 million, down slightly from $26.7 million in 2019. Total assets grew by 23% to $3.2 billion, with total deposits increasing 20%.
Sierra Bancorp (Nasdaq: BSRR) has declared a quarterly cash dividend of $0.20 per share, effective November 12, 2020, to shareholders of record as of October 30, 2020. This announcement follows the Board's review of financial performance for the quarter ending September 30, 2020. Notably, this marks the Company's 87th consecutive quarterly dividend, showcasing its consistent commitment to returning value to shareholders since 1987. Sierra Bancorp is the parent of Bank of the Sierra, recognized as one of the strongest community banks, rated 5-stars by Bauer Financial.