Sierra Bancorp Q4 net income down 26% YoY to $7.1M on $6.8M dairy loan charge-off

SIERRA BANCORP

2022-FY EPS reported $2.24

Q4 net income $7.1M ($0.47 EPS) vs $9.6M ($0.63) in Q4 2021, down 26%.
Full year 2022 net income $33.7M ($2.25 EPS) vs $43.0M ($2.80) in 2021.
Provision for credit losses surged $7.7M in Q4, driven by a $6.8M charge-off on one dairy loan relationship.
Net interest margin stable at 3.63% in Q4 2022 vs 3.31% in Q4 2021; net interest income up 11% to $29.4M.
Total assets $3.6B (+7% YoY); gross loans $2.05B (+$63M); total deposits $2.85B (+$65M).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SIERRA BANCORP reported the year ended 2022 results: net income $33.7 million, EPS $2.25 per diluted share.

Period: the year ended 2022
Net income: $33.7 million
EPS: $2.25 per diluted share
Result: reported results

Exact text from the filing

For the year ended 2022, the Company recognized net income of $33.7 million, or $2.25 per diluted share

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SIERRA BANCORP reported the fourth quarter of 2022 results: net income $7.1 million, EPS $0.47 per diluted share.

Period: the fourth quarter of 2022
Net income: $7.1 million
EPS: $0.47 per diluted share
Result: reported results

Exact text from the filing

Sierra Bancorp reported consolidated net income in the fourth quarter of 2022 of $7.1 million, or $0.47 per diluted share

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SIERRA BANCORP filing history →

Source: SEC EDGAR

accession 0001558370-23-000678

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