Sierra Bancorp Q1 net income $8.8M ($0.58 EPS); NPA ratio drops to 0.05%

SIERRA BANCORP

2023-Q1 EPS reported $0.58

Net income $8.75M ($0.58 diluted EPS) vs. $7.4M ($0.49) in Q1 2022; ROAA 0.97% vs 0.88%.
Nonperforming assets fell 97% YoY to $0.9M, or 0.05% of gross loans; charge-offs $0.2M.
Deposits increased $102.8M (16% annualized) to $2.95B; noninterest-bearing deposits 35% of total.
Declared $0.23/share dividend payable May 15, 2023; repurchased 146,418 shares for $2.7M.
Tangible book value per share up 2% to $18.44; Community Bank Leverage ratio 10.74%.

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 0.95

SIERRA BANCORP reported the quarter ended March 31, 2023 results: net income $8.8 million, EPS $0.58 per diluted share.

Period: the quarter ended March 31, 2023
Net income: $8.8 million
EPS: $0.58 per diluted share
Result: reported results

Exact text from the filing

Sierra Bancorp reported consolidated net income of $8.8 million, or $0.58 per diluted share, for the first quarter of 2023 compared to $7.4 million, or $0.49 per diluted share, in the first quarter of 2022.

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Source: SEC EDGAR

accession 0001558370-23-006471

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