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INVESTOR RELATIONS

Financial Highlights

As Reported Financials

Document Name As Of Date Currency Code (in thousands) 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD
Document Name As Of Date Currency Code 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD

Cash flows from operating activities

Net income 18,067 17,567 19,539 29,677 26,676
Gain on sales of securities (666) (223) (500) (2) (29)
Gain on sale of loans (6) (2) (3) 0 NA
Loss on disposal of fixed assets 62 2 136 16 28
Gain on sale on foreclosed assets (259) (130) (56) (1,423) (107)
Writedowns on foreclosed assets 221 450 95 439 77
Share-based compensation expense 35 188 476 373 379
Provision for loan losses 0 0 (1,140) 4,350 2,050
Depreciation and amortization 2,272 2,584 3,030 3,174 2,240
Net amortization on securities premiums and discounts 6,932 7,130 6,749 5,452 3,248
Accretion of discounts for loans acquired and net deferred loan fees (277) (1,030) (1,384) (1,647) (712)
Increase in cash surrender value of life insurance policies (1,151) (945) (1,640) (591) (1,617)
Loss from sales of loans 323 NA NA NA NA
Originations of loans held for sale (317) NA NA NA NA
Amortization of core deposit intangible 134 272 508 1,020 806
(Increase) decrease in interest receivable and other assets 1,085 (3,442) 10,402 (6,106) (7,362)
Increase in other liabilities 758 (621) 4,100 (5,420) (1,412)
Deferred income tax benefit 1,629 (6,113) (1,130) (308) (163)
Deferred tax benefit from equity based compensation (146) (106) 0 0 NA
Increase in equity securities NA 0 0 (1,183) (232)
Net amortization of partnership investment NA 0 1,497 2,625 1,648
Net cash provided by operating activities 28,696 15,581 40,679 30,446 25,518

Cash flows from investing activities

Maturities and calls of securities available for sale 580 1,310 2,065 4,285 8,714
Proceeds from sales of securities available for sale 39,831 39,568 47,594 12,283 22,181
Purchases of securities available for sale (136,459) (138,675) (179,092) (122,818) (122,579)
Principal pay downs on securities available for sale 91,193 99,181 100,161 92,494 66,864
Net purchases of FHLB stock (504) (960) (1,689) (300) (833)
Increase in loans receivable, net (164,266) NA NA NA NA
Loan originations and payments, net NA (36,761) (76,129) (183,737) (66,017)
Purchases of premises and equipment (2,530) (3,586) (2,141) (3,123) (632)
Proceeds from sales of fixed assets 59 NA NA NA NA
Proceeds from sale premises and equipment NA NA NA NA 10
Proceeds from sales of foreclosed assets 1,833 1,551 443 13,188 7,955
Purchase of bank-owned life insurance 0 (360) (455) (454) (366)
Proceeds from BOLI death benefit 0 1,739 999 0 NA
Net increase in partnership investment 0 0 (5,000) 0 NA
Liquidation of bank-owned life insurance NA NA NA NA 260
Net cash from bank acquisition 0 15,653 61,571 (6) 0
Net cash used in investing activities (170,263) (21,340) (51,673) (188,188) (84,443)

Cash flows from financing activities

Increase in deposits 97,933 101,805 35,304 127,954 79,867
Decrease in borrowed funds 53,100 (14,800) (67,500) 34,200 (13,900)
Increase in repurchase agreements 2,154 (1,311) 56 8,209 8,798
Cash dividends paid (5,662) (6,506) (7,935) (9,757) (8,427)
Repurchases of common stock (7,956) (2,259) 0 0 (1,374)
Stock options exercised 380 543 764 1,131 518
Excess tax provision from equity based compensation 146 106 0 0 NA
Net cash provided by financing activities 140,095 77,578 (39,311) 161,737 65,482
Increase (decrease) in cash and due from banks (1,472) 71,819 (50,305) 3,995 6,557

Cash and cash equivalents

Beginning of period 50,095 48,623 120,442 70,137 74,132
End of period 48,623 120,442 70,137 74,132 80,689

Supplemental disclosure of cash flow information

Interest paid NA NA NA NA 10,671
Interest 2,560 3,396 5,000 8,707 NA
Income taxes paid 6,390 4,930 7,147 11,300 9,000

Supplemental noncash disclosures

Real estate acquired through foreclosure 1,004 902 666 7,805 27
Operating right-of-use asset pursuant to adoption on ASU 2016-02 NA NA NA NA 9,712
Operating lease liability pursuant to adoption of ASU 2016-02 NA NA NA NA 10,336

Change in unrealized net losses on securities available-for-sale

Change in unrealized net losses on securities available-for-sale (2,890) (7,468) (269) (6,156) NA

Assets acquired (liabilities assumed) in bank acquisition

Cash and cash equivalents 0 18,931 62,374 0 NA
Securities 0 23,363 5,492 0 NA
Federal Home Loan Bank and Federal Reserve Bank stock 0 1,057 0 0 NA
Loans 0 94,264 217,807 0 NA
Premises and equipment 0 5,844 1,342 0 NA
Foreclosed assets 0 0 3,072 0 NA
Core deposit intangibles 0 1,827 3,939 0 NA
Goodwill 0 1,360 19,089 0 NA
Other assets 0 2,504 10,479 0 NA
Deposits 0 (129,038) (257,611) 0 NA
Other liabilities 0 (705) (3,404) 0 NA
Borrowings 0 (2,500) (24,400) 0 NA
Subordinated debentures 0 (3,422) 0 0 NA
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.

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