Sierra Bancorp Stock Price, News & Analysis

Sierra Bancorp (NASDAQ: BSRR) is a California-based bank holding company for Bank of the Sierra, operating in the commercial banking industry within the finance and insurance sector. According to company disclosures, Sierra Bancorp offers retail and commercial banking services and deposit products for individuals and businesses, and its common stock is listed on the NASDAQ Global Select Market under the symbol BSRR.

Through Bank of the Sierra, Sierra Bancorp focuses on community banking. The Bank is described as a community-centric regional bank that offers a broad range of retail and commercial banking services through full-service branches. These branches are located within the California counties of Tulare, Kern, Kings, Fresno, Ventura, San Luis Obispo, and Santa Barbara. In addition to its physical branch network, Bank of the Sierra maintains an online branch and provides specialized lending services through an agricultural credit center in Templeton, California. In some disclosures, the Bank also notes a dedicated loan production office in Roseville, California.

The company states that it offers a range of deposit products and services for individuals and businesses, including checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts. On the lending side, its activities cover real estate, commercial (including small business), mortgage warehouse, agricultural, and consumer loans. It also offers commercial construction loans and multifamily and agricultural credit facilities, among other types of real estate loans. These activities position Sierra Bancorp firmly within the commercial banking segment, serving both consumer and business customers with deposit and credit products.

Business Model and Banking Focus

Sierra Bancorp’s business model, as described in its public information, centers on providing community banking services through Bank of the Sierra. The Bank emphasizes its role as a community-centric regional institution, with a branch footprint across multiple counties in California’s South San Joaquin Valley and on the Central Coast. Its product set spans traditional deposit accounts and a variety of loan types, including mortgage warehouse lending and agricultural lending, which are specifically highlighted in its financial reports and press releases.

The company’s financial communications frequently reference key banking metrics such as net interest margin, efficiency ratio, loan growth, deposit mix, and asset quality measures. These disclosures indicate a focus on managing the cost of funds, growing loans (including mortgage warehouse utilization and commercial real estate loans), and maintaining capital and liquidity ratios at levels discussed in its quarterly and annual results. While specific figures change over time, the recurring emphasis on net interest income, credit quality, and deposit composition reflects how Sierra Bancorp describes the drivers of its performance.

Geographic Footprint and Community Orientation

According to multiple press releases, Bank of the Sierra is described as one of the largest independent banks headquartered in the South San Joaquin Valley. Its full-service branches in Tulare, Kern, Kings, Fresno, Ventura, San Luis Obispo, and Santa Barbara counties provide local access to retail and commercial banking services. The Bank also notes that it maintains an online branch, which extends access beyond its physical locations, and that it operates an agricultural credit center in Templeton, California, reflecting a stated focus on agricultural lending.

In some disclosures, Bank of the Sierra is also said to have a dedicated loan production office in Roseville, California. This office is referenced as part of its specialized lending activities. The Bank’s communications emphasize its community-centric approach, noting that its bankers work with customers and communities in its service areas.

Recognition and Industry Standing

In recent press releases, Bank of the Sierra has been recognized with a 5-star rating from Bauer Financial, which the company describes as an indication that it is one of the strongest and top-performing community banks in the country. This recognition is cited in multiple dividend-related announcements and is presented by the company as an external assessment of its financial condition and performance as a community bank.

Capital Management and Shareholder Returns

Sierra Bancorp’s public communications highlight a long history of regular cash dividends. The company states that, counting dividends paid by Bank of the Sierra prior to the formation of Sierra Bancorp, regular cash dividends have been paid to shareholders every year since 1987. The company further notes that dividends were annual through 1998 and quarterly thereafter, and it references a long sequence of consecutive quarterly cash dividends in its announcements.

The Board of Directors has also authorized share repurchase programs on multiple occasions, as disclosed in press releases and Form 8-K filings. These programs authorize the company to repurchase up to a specified number of shares of its outstanding common stock, with repurchases potentially executed in open-market or privately negotiated transactions, subject to applicable securities laws and market conditions. The company also notes that its Board has authorized management to enter into Rule 10b5-1 trading plans with a broker-dealer to facilitate repurchases.

Regulatory Status and Exchange Listing

According to its Form 8-K filings, Sierra Bancorp is incorporated in California and its common stock, with no par value, trades on the NASDAQ Global Select Market under the symbol BSRR. The filings list a principal office location in Porterville, California (without affecting the no-street-address rule here), and include the company’s Commission File Number and federal employer identification number as part of the standard SEC header information. These filings also confirm that Sierra Bancorp remains a reporting company under the Securities Exchange Act of 1934 and continues to furnish periodic and current reports, including 8-Ks related to financial results, dividends, share repurchase programs, and executive appointments.

Management and Governance Disclosures

In its recent Form 8-K filings, Sierra Bancorp has disclosed changes and appointments in its senior management team. For example, the company reported the appointment of an Executive Vice President and Chief Operations Officer, including a summary of the executive’s prior experience and the key terms of an employment agreement. Another Form 8-K describes the planned retirement of the company’s Senior Vice President & Chief Accounting Officer and the designation of the existing Executive Vice President & Chief Financial Officer as Principal Accounting Officer. These disclosures illustrate the company’s adherence to SEC reporting requirements for significant executive changes.

Loan and Deposit Activities as Described by the Company

Across its earnings press releases, Sierra Bancorp provides detail on the composition and growth of its loan and deposit portfolios. The company reports growth in mortgage warehouse loans, commercial real estate loans, construction loans, other commercial loans, and changes in residential real estate and farmland loans. It also discusses shifts in deposit mix, including noninterest-bearing deposits, interest-bearing demand deposits, customer time deposits, and brokered deposits. These descriptions show that Sierra Bancorp emphasizes both core customer deposits and wholesale funding sources, as well as the impact of these funding decisions on its cost of funds and net interest margin.

Risk Management and Asset Quality Metrics

In its financial result announcements, Sierra Bancorp regularly reports asset quality indicators such as nonperforming loans to total gross loans, classified loans, loans past due but still accruing, and net charge-offs to total loans. The company also references its regulatory commercial real estate concentration ratio and notes changes in this ratio over time. These disclosures, along with commentary on provisions for credit losses on loans and unfunded commitments, provide insight into how the company presents its credit risk management and asset quality trends.

Capital and Liquidity Measures

The company’s press releases highlight capital ratios and liquidity measures, including a community bank leverage ratio for its subsidiary bank and a consolidated tangible common equity ratio. Sierra Bancorp also reports on tangible book value per share and describes the level of its primary and secondary liquidity sources in dollar terms at various reporting dates. While the specific metrics vary by period, the recurring disclosure of these measures indicates that capital strength and liquidity are key themes in how the company communicates with investors.

FAQs about Sierra Bancorp (BSRR)

• What does Sierra Bancorp do?
  Sierra Bancorp is a California-based bank holding company for Bank of the Sierra. According to company disclosures, it offers retail and commercial banking services, including deposit accounts and a variety of loan products such as real estate, commercial, mortgage warehouse, agricultural, and consumer loans.
• Where does Bank of the Sierra operate?
  Bank of the Sierra states that it operates full-service branches in the California counties of Tulare, Kern, Kings, Fresno, Ventura, San Luis Obispo, and Santa Barbara. It also maintains an online branch and an agricultural credit center in Templeton, California, and has referenced a loan production office in Roseville, California.
• On which exchange is Sierra Bancorp stock traded?
  Form 8-K filings indicate that Sierra Bancorp’s common stock, with no par value, trades on the NASDAQ Global Select Market under the ticker symbol BSRR.
• What types of deposit products does Sierra Bancorp offer?
  According to its description, Sierra Bancorp, through Bank of the Sierra, offers checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts for individuals and businesses.
• What kinds of loans does Sierra Bancorp provide?
  The company states that its lending activities include real estate loans, commercial loans (including small business), mortgage warehouse loans, agricultural loans, consumer loans, commercial construction loans, and multifamily and agricultural credit facilities, among other real estate-related loans.
• How long has Sierra Bancorp or its banking operations been paying dividends?
  Dividend-related press releases state that, counting dividends paid by Bank of the Sierra before Sierra Bancorp was formed, the organization has paid regular cash dividends every year since 1987, initially on an annual basis through 1998 and quarterly thereafter, resulting in a long sequence of consecutive quarterly cash dividends.
• Has Sierra Bancorp implemented share repurchase programs?
  Yes. The company has announced Board-approved share repurchase programs authorizing the repurchase of up to a specified number of shares of its common stock, as disclosed in press releases and related Form 8-K filings. These programs allow repurchases in open-market or privately negotiated transactions, subject to applicable laws and conditions described by the company.
• How does Sierra Bancorp describe its community banking focus?
  Bank of the Sierra describes itself as a community-centric regional bank, emphasizing service to customers and communities in its branch markets. Company statements highlight efforts by its bankers to grow loans and deposits and to strengthen customer relationships in the areas it serves.
• Has Bank of the Sierra received any third-party ratings?
  In recent press releases, Bank of the Sierra is reported to have received a 5-star rating from Bauer Financial, which the company describes as recognition of the Bank as one of the strongest and top-performing community banks in the country.
• What regulatory filings does Sierra Bancorp make?
  Sierra Bancorp files current reports on Form 8-K that cover topics such as financial results, dividends, share repurchase programs, and executive appointments. These filings, together with other SEC reports, document the company’s regulatory and disclosure obligations as a NASDAQ-listed bank holding company.