Sierra Bancorp Q3 net income $9.9M ($0.68 EPS), NIM compresses to 3.30%

SIERRA BANCORP

2023-Q3 EPS reported $1.93

Q3 net income $9.9M ($0.68 diluted EPS), flat YoY and linked quarter; 9-month net income $28.6M ($1.93 EPS), up 8%.
Net interest margin (tax-equivalent) fell to 3.30% from 3.39% in Q2 and 3.63% in Q3 2022.
Nonperforming loans dropped to $0.8M (0.04% of loans) from $26.8M a year ago, due to resolution of a dairy relationship.
Repurchased 99,528 shares for $2.0M in Q3; declared $0.23/share dividend (payable Nov 14), 99th consecutive quarterly.
Tangible book value per share rose 1% to $19.04; total assets $3.74B, down 1% linked quarter but up 4% YTD.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SIERRA BANCORP reported three- and nine-month periods ended September 30, 2023 results: net income $9.9 million, EPS $0.68 per diluted share.

Period: three- and nine-month periods ended September 30, 2023
Net income: $9.9 million
EPS: $0.68 per diluted share
Result: reported results

Exact text from the filing

Sierra Bancorp reported consolidated net income of $9.9 million, or $0.68 per diluted share, for the third quarter of 2023, and $28.5 million or $1.93 per diluted shares, for the first nine months of 2023.

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Source: SEC EDGAR

accession 0001558370-23-016594

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