secwatch.observer — SEC 8-K summary
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Issuer:     SIERRA BANCORP (BSRR)
CIK:        0001130144
Form:       8-K
Filed at:   2023-01-30T23:59:59+00:00
Accession:  0001558370-23-000678
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1130144/000155837023000678/0001558370-23-000678-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1130144/000155837023000678/bsrr-20230130x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-000678

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