Sierra Bancorp Q4 net income $6.3M ($0.43 EPS); completes branch sale-leaseback and bond sale

SIERRA BANCORP

2023-FY EPS reported $2.36

Q4 net income $6.3M, down 12% YoY; full year 2023 net income $34.8M, up 4% from 2022.
Completed first tranche of 13-branch sale-leaseback in Dec 2023 with $15.3M gain; second tranche expected Q1 2024.
Sold $196.7M bonds in Jan 2024 at $14.5M loss (recognized in 2023); proceeds used to pay down short-term borrowings at avg 5.52%.
Tangible book value per share rose 10% to $20.91; NIM (tax-equivalent) declined to 3.31% from 3.63% a year ago.
Dividend declared $0.23 per share, payable Feb 12, 2024; 100th consecutive quarterly dividend.

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 financial results for three-and twelve-month periods ended December 31, 2023.

Period: three-and twelve-month periods ended December 31, 2023
Result: reported results

Exact text from the filing

On January 29, 2024, Sierra Bancorp issued a press release announcing its unaudited consolidated financial results for the quarter and year ended December 31, 2023.

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SIERRA BANCORP filing history →

Source: SEC EDGAR

accession 0001558370-24-000606

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