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Earnings analysis · 10-Q

BSRR earnings analysis

Filed May 1, 2026 · Our reading of the company's report

The latest report

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,…

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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.

Read the original on SEC.gov

Reported figures

Earnings per share
$0.96

What stood out

  • 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.

What to watch

  • 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.

Management's outlook

No numeric forward guidance provided; management emphasizes caution regarding market conditions.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.