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Stock impact report

Sierra Bancorp Reports Earnings

Sierra Bancorp (BSRR) 
Last sierra bancorp earnings: 7/22 08:01 am Check Earnings Report
Company Research Source: Business Wire
PORTERVILLE, Calif.--(BUSINESS WIRE)-- Sierra Bancorp (Nasdaq: BSRR), parent of Bank of the Sierra, today announced its unaudited financial results for the quarter and the year ended December 31, 2018. Sierra Bancorp reported consolidated net income of $7.904 million for the fourth quarter of 2018, for an increase of $3.860 million, or 95%, relative to the fourth quarter of 2017. The variance in net income was impacted by the following: a reduced income tax rate in 2018, as well as a charge in the fourth quarter of 2017 to write down the Company’s deferred tax asset; a reduction in noninterest expense, resulting in large part from nonrecurring acquisition costs recorded in the fourth quarter of 2017 and gains on OREO sales realized in the fourth quarter of 2018; and, improvement in net interest income resulting from growth in earning assets. Favorable variances were partially offset by a $1.400 million loan loss prov Show less Read more
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