Sierra Bancorp Q2 net income $10.3M, EPS $0.71; raises dividend to $0.24/share

SIERRA BANCORP

2024-Q2 EPS reported $1.35

Net income $10.3M ($0.71 diluted EPS) vs $9.9M ($0.67) a year ago; linked-quarter up 10%.
Net interest margin expanded 30 bps YoY to 3.69%; net interest income up 7% YoY.
Nonperforming loans fell 56% to 0.29% of total loans; delinquencies at 0.14%.
Total assets grew 14% annualized to $3.7B; loan growth 14% annualized; deposits up 13% annualized.
Dividend raised to $0.24/share (payable Aug 15, 2024); bought back 178K shares during quarter.

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