secwatch.observer — SEC 8-K summary
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Issuer:     SIERRA BANCORP (BSRR)
CIK:        0001130144
Form:       8-K
Filed at:   2024-01-29T23:59:59+00:00
Accession:  0001558370-24-000606
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1130144/000155837024000606/0001558370-24-000606-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1130144/000155837024000606/bsrr-20240129x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-000606

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