BSRR earnings analysis
What we found in BSRR's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Sierra Bancorp reported a strong Q1 2026, with net income rising 38% year-over-year to $12.5 million and EPS increasing from $0.65 to $0.96. Despite a slight revenue shortfall against expectations at $38.577 million, the bank achieved growth in noninterest income and managed to reduce its provision for credit losses significantly. Total deposits also rose, contributing positively to the bank's liquidity position.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong Increase in EPS
- Diluted EPS rose to $0.96 for Q1 2026 from $0.65 in Q1 2025, a 47.7% increase.
- Reduced Provision for Credit Losses
- Provision for credit losses decreased by $2 million, or 99%, to $0.1 million from $2.0 million a year ago.
- Noninterest Income Growth
- Noninterest income increased by $1.3 million, or 20%, from the previous year, reaching $7.969 million.
- Deposits Increased
- Total deposits grew by $49.4 million, or 2%, to $2.93 billion at the end of Q1 2026.
- Stable Net Interest Margin
- Net interest margin remained stable at 3.75% compared to 3.74% in Q1 2025.
- Decrease in Nonperforming Assets
- Nonperforming assets decreased by $4.4 million to $10.4 million from $14.8 million at year-end.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Decline in Gross Loans
- Gross loans decreased by $80.1 million, or 3%, due to lower mortgage warehouse line utilization.
- Equity Reduction
- Shareholders' equity decreased to $363.7 million from $364.9 million, impacted by $9.5 million in share repurchases.
- Liquidity Risks
- Despite high liquidity, potential deposit outflows may pose a risk to cash availability.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.96
What they said about what is next.
No numeric forward guidance provided; management emphasizes caution regarding market conditions.
The filing reads better than the one before it.
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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