$BSRR
SIERRA BANCORP

2014 Q4 Form 10-Q Financial Statement

#000114420414065449 Filed on November 06, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $14.51M $13.98M $12.79M
YoY Change 10.02% 9.28% -9.87%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $550.0K $530.0K $490.0K
YoY Change 12.24% 8.16% -20.97%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $641.0K $686.0K $790.0K
YoY Change -13.73% -13.16% -25.68%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $5.300M $5.327M $4.030M
YoY Change 11.25% 32.18% 206.7%
Income Tax $1.647M $1.776M $663.0K
% Of Pretax Income 31.08% 33.34% 16.45%
Net Earnings $3.653M $3.551M $3.367M
YoY Change -5.58% 5.46% 105.93%
Net Earnings / Revenue 25.18% 25.4% 26.32%
Basic Earnings Per Share $0.25 $0.24
Diluted Earnings Per Share $0.26 $0.25 $0.23
COMMON SHARES
Basic Shares Outstanding 13.79M shares 13.94M shares 14.18M shares
Diluted Shares Outstanding 14.07M shares 14.33M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $50.10M $39.68M $60.97M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $21.85M $20.98M $20.49M
YoY Change 7.16% 2.39% -7.69%
Goodwill $6.908M $5.544M $5.544M
YoY Change 24.6% 0.0%
Intangibles
YoY Change
Long-Term Investments $7.300M
YoY Change -20.65%
Other Assets $12.80M
YoY Change 4.07%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.637B $1.489B $1.383B
YoY Change 16.1% 7.64% -2.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $18.20M $22.39M $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.300M $7.200M $5.700M
YoY Change 21.67% 26.32% 58.33%
LONG-TERM LIABILITIES
Long-Term Debt $36.90M $30.90M $30.90M
YoY Change 19.42% 0.0% -13.93%
Other Long-Term Liabilities $21.20M $19.30M $17.10M
YoY Change 21.14% 12.87% 10.32%
Total Long-Term Liabilities $58.10M $50.20M $48.00M
YoY Change 20.04% 4.58% -6.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.300M $7.200M $5.700M
Total Long-Term Liabilities $58.10M $50.20M $48.00M
Total Liabilities $1.450B $1.303B $1.205B
YoY Change 18.04% 8.09% -3.49%
SHAREHOLDERS EQUITY
Retained Earnings $116.0M $109.9M
YoY Change 2.84%
Common Stock $64.15M $65.51M
YoY Change -2.47%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $187.1M $186.2M $178.1M
YoY Change
Total Liabilities & Shareholders Equity $1.637B $1.489B $1.383B
YoY Change 16.1% 7.64% -2.81%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $3.653M $3.551M $3.367M
YoY Change -5.58% 5.46% 105.93%
Depreciation, Depletion And Amortization $550.0K $530.0K $490.0K
YoY Change 12.24% 8.16% -20.97%
Cash From Operating Activities $7.750M $4.580M $8.920M
YoY Change -12.92% -48.65% -24.85%
INVESTING ACTIVITIES
Capital Expenditures -$220.0K -$720.0K -$50.00K
YoY Change -43.59% 1340.0% -93.06%
Acquisitions
YoY Change
Other Investing Activities -$22.95M -$1.530M -$14.89M
YoY Change 66.79% -89.72% -56.79%
Cash From Investing Activities -$23.16M -$2.250M -$14.93M
YoY Change 63.56% -84.93% -57.56%
FINANCING ACTIVITIES
Cash Dividend Paid $1.261M $991.9K
YoY Change 27.11% 17.25%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 25.84M -11.48M 10.00K
YoY Change 15.93% -114900.0% -99.95%
NET CHANGE
Cash From Operating Activities 7.750M 4.580M 8.920M
Cash From Investing Activities -23.16M -2.250M -14.93M
Cash From Financing Activities 25.84M -11.48M 10.00K
Net Change In Cash 10.43M -9.150M -6.000M
YoY Change -38.76% 52.5% 57.07%
FREE CASH FLOW
Cash From Operating Activities $7.750M $4.580M $8.920M
Capital Expenditures -$220.0K -$720.0K -$50.00K
Free Cash Flow $7.970M $5.300M $8.970M
YoY Change -14.21% -40.91% -28.75%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Current Fiscal Year End Date
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us-gaap Nature Of Operations
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style=" font-family : Times New Roman;"><strong><em><font style=" text-decoration: underline;">Note <font>1</font> &#150; The Business of Sierra Bancorp</font></em></strong></font></p> </div> </div> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style=" font-family : Times New Roman;">Sierra Bancorp (the &#147;Company&#148;) is a California corporation headquartered in Porterville, California, and is a registered bank holding company under federal banking laws. The Company was formed to serve as the holding company for Bank of the Sierra (the &#147;Bank&#148;), and has been the Bank's sole shareholder since August 2001. The Company exists primarily for the purpose of holding the stock of the Bank and of such other subsidiaries it may acquire or establish. At the present time, the Company's only other subsidiaries are Sierra Statutory Trust II and Sierra Capital Trust III, which were formed in March 2004 and June 2006, respectively, solely to facilitate the issuance of capital trust pass-through securities (TRUPS). Pursuant to the Financial Accounting Standards Board's (FASB's) standard on the consolidation of variable interest entities, these trusts are not reflected on a consolidated basis in the Company's financial statements. References herein to the &#147;Company&#148; include Sierra Bancorp and its consolidated subsidiary, the Bank, unless the context indicates otherwise.</font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style=" font-family : Times New Roman;">The Bank is a California state-chartered bank headquartered in Porterville, California, that offers a full range of retail and commercial banking services primarily to communities in the central and southern regions of the San Joaquin Valley. Our branch footprint stretches from Fresno on the north to Bakersfield on the south, and on the southern end extends east through the Tehachapi plateau and into the northwestern tip of the Mojave Desert. The Bank was incorporated in September 1977 and opened for business in January 1978, and in the ensuing years has grown to be the largest independent bank headquartered in the South San Joaquin Valley. Our growth has primarily been organic, but includes the acquisition of Sierra National Bank in 2000. We currently operate <font>25</font> full service branch offices throughout our geographic footprint, as well as an internet branch which provides the ability to open deposit accounts online. The Bank has received regulatory approval for another branch in Bakersfield, California, which is expected to commence operations in the first quarter of 2015. In addition to our full-service branches the Bank has specialized lending units which include a real estate industries center, an agricultural credit center, and an SBA lending unit, and we operate offsite ATMs at six different non-branch locations. The Bank's deposit accounts are insured by the Federal Deposit Insurance Corporation (FDIC) up to maximum insurable amounts.</font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style=" font-family : Times New Roman;">On July 17, 2014 the Company entered into a definitive agreement to acquire Santa Clara Valley Bank (OTC: SCVE) of Santa Paula, California, a community bank with $<font>129</font> million in assets and branches located in Santa Paula, Santa Clarita, and Fillmore, California. The agreement calls for the payment of cash consideration of $<font>12.3</font> million, or $<font>6.00</font> per share, to SCVE's common shareholders and cash consideration of $<font>3.0</font> million to SCVE's preferred shareholders to retire outstanding preferred stock and associated warrants. Included in the $<font>12.3</font> million payment is $<font>700,000</font> that the Company will pay to cash out existing in-the-money warrants. All requisite regulatory approvals have been received, and the acquisition was approved by the shareholders of Santa Clara Valley Bank at a special meeting held October 29, 2014. The transaction is expected to close in the fourth quarter of 2014. One-time acquisition costs totaled $<font>267,000</font> in the third quarter of 2014, and if the transaction is consummated in the anticipated time frame management has projected that they will add around $<font>2.0</font> million to Sierra Bancorp's pre-tax non-interest expense in the fourth quarter of 2014.</font></p> </div> </div>
CY2014Q3 bsrr Branch Offices
BranchOffices
25 pure
CY2014Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
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129000000 USD
CY2014Q3 us-gaap Payments To Acquire Businesses Gross
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12300000 USD
CY2014Q3 bsrr Business Combination Cash Per Share To Common Shareholders
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6.00
CY2014Q3 bsrr Business Combination Cash To Preferred Shareholders
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3000000 USD
CY2014Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
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700000 USD
CY2014Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
267000 USD
CY2014Q3 bsrr Business Combination Estimated Pre Tax Non Interest Expense
BusinessCombinationEstimatedPreTaxNonInterestExpense
2000000 USD
us-gaap Interest Paid
InterestPaid
2621000 USD
CY2014Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
133631 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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133501 shares
CY2013Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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152445 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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117085 shares
CY2014Q3 us-gaap Letters Of Credit Outstanding Amount
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88000000 USD
CY2013 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses
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1195000 USD
CY2013Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
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30459000 USD
CY2013 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses
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CY2013Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
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164320000 USD
CY2014Q3 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
USD
us-gaap Proceeds From Sale Of Available For Sale Securities
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8360000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
723000 USD
CY2014Q3 us-gaap Available For Sale Securities Gross Realized Gains
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USD
us-gaap Available For Sale Securities Gross Realized Gains
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289000 USD
us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
6000 USD
CY2014Q3 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
USD
us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
2000 USD
CY2014Q3 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
USD
us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
287000 USD
us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
6000 USD
CY2014Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
1204000 USD
CY2014Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
1212000 USD
CY2014Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
213652000 USD
CY2014Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
216249000 USD
CY2014Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
76629000 USD
CY2014Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
77761000 USD
CY2014Q3 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
50748000 USD
CY2014Q3 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
51294000 USD
CY2014Q3 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateAmortizedCost
461990000 USD
CY2014Q3 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue
467688000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
2294000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
2316000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
241396000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
242493000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
59572000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
59402000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
49674000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
47737000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateAmortizedCost
424315000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue
425044000 USD
CY2013Q3 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
USD
CY2013Q3 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
USD
CY2013Q3 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
USD
CY2013Q3 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
USD
CY2014Q3 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
461990000 USD
us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
USD
us-gaap Available For Sale Securities Gross Unrealized Gains
AvailableForSaleSecuritiesGrossUnrealizedGains
7922000 USD
us-gaap Available For Sale Securities Gross Unrealized Loss
AvailableForSaleSecuritiesGrossUnrealizedLoss
2224000 USD
CY2013Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
424315000 USD
CY2013 us-gaap Available For Sale Securities Gross Unrealized Gains
AvailableForSaleSecuritiesGrossUnrealizedGains
6130000 USD
CY2013 us-gaap Available For Sale Securities Gross Unrealized Loss
AvailableForSaleSecuritiesGrossUnrealizedLoss
5401000 USD
CY2014Q3 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
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164 pure
CY2013Q4 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1
197 pure
us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAggregateLosses
605000 USD
CY2014Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
103158000 USD
us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLosses
1619000 USD
CY2014Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
93952000 USD
CY2014Q3 us-gaap Financing Receivable Recorded Investment30 To59 Days Past Due
FinancingReceivableRecordedInvestment30To59DaysPastDue
3429000 USD
CY2014Q3 us-gaap Financing Receivable Recorded Investment60 To89 Days Past Due
FinancingReceivableRecordedInvestment60To89DaysPastDue
981000 USD
CY2014Q3 us-gaap Financing Receivable Recorded Investment Equal To Greater Than90 Days Past Due
FinancingReceivableRecordedInvestmentEqualToGreaterThan90DaysPastDue
20139000 USD
CY2014Q3 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
24549000 USD
CY2014Q3 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
859126000 USD
CY2014Q3 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
23876000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
37414000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment30 To59 Days Past Due
FinancingReceivableRecordedInvestment30To59DaysPastDue
7212000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment60 To89 Days Past Due
FinancingReceivableRecordedInvestment60To89DaysPastDue
1358000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment Equal To Greater Than90 Days Past Due
FinancingReceivableRecordedInvestmentEqualToGreaterThan90DaysPastDue
11676000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
20246000 USD
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
3602000 USD
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
2587000 USD
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
-350000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
782996000 USD
CY2014Q3 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
11752000 USD
CY2014Q3 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
10391000 USD
us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
12494000 USD
us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeAccrualMethod
89000 USD
CY2014Q3 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
41929000 USD
CY2014Q3 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
40434000 USD
CY2014Q3 bsrr Impaired Financing Receivable Recorded Related Allowance
ImpairedFinancingReceivableRecordedRelatedAllowance
-5181000 USD
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
45492000 USD
us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
820000 USD
CY2013Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
30900000 USD
CY2013Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
30665000 USD
CY2013Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
5349000 USD
CY2013 us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
31260000 USD
CY2013 us-gaap Impaired Financing Receivable With Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithRelatedAllowanceInterestIncomeAccrualMethod
1047000 USD
CY2013Q4 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
29026000 USD
CY2013Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
25722000 USD
CY2013 us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
27264000 USD
CY2013 us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeAccrualMethod
173000 USD
CY2013Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
59926000 USD
CY2013Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
56387000 USD
CY2013Q4 bsrr Impaired Financing Receivable Recorded Related Allowance
ImpairedFinancingReceivableRecordedRelatedAllowance
-5349000 USD
CY2013 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
58524000 USD
CY2013 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
1220000 USD
CY2014Q3 bsrr Percentage Of Impaired Loans With Appraisal
PercentageOfImpairedLoansWithAppraisal
0.84 pure
CY2014Q3 bsrr Loans And Leases Receivable Allowance General Reserves
LoansAndLeasesReceivableAllowanceGeneralReserves
5831000 USD
CY2014Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
11634000 USD
CY2014Q3 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
1647000 USD
CY2014Q3 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
1025000 USD
CY2013Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
11677000 USD
CY2014Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
11012000 USD
CY2014Q3 bsrr Financing Receivable Allowance For Credit Losses Specific Reserves
FinancingReceivableAllowanceForCreditLossesSpecificReserves
5181000 USD
CY2014Q3 bsrr Impaired Financing Receivable With Specific Reserves
ImpairedFinancingReceivableWithSpecificReserves
3333000 USD
CY2013Q4 bsrr Impaired Financing Receivable With Specific Reserves
ImpairedFinancingReceivableWithSpecificReserves
3321000 USD
CY2014Q3 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
40434000 USD
CY2014Q3 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
843241000 USD
CY2012Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
13873000 USD
CY2013 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
8263000 USD
CY2013 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
1717000 USD
CY2013 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
-4350000 USD
CY2013Q4 bsrr Financing Receivable Allowance For Credit Losses Specific Reserves
FinancingReceivableAllowanceForCreditLossesSpecificReserves
5349000 USD
CY2013Q4 bsrr Loans And Leases Receivable Allowance General Reserves
LoansAndLeasesReceivableAllowanceGeneralReserves
6328000 USD
CY2013Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
56387000 USD
CY2013Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
746855000 USD
us-gaap Impaired Financing Receivable With Related Allowance Interest Income Accrual Method
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731000 USD
CY2014Q3 bsrr Impaired Financing Receivable With No Related Allowance Related Allowance
ImpairedFinancingReceivableWithNoRelatedAllowanceRelatedAllowance
USD
CY2013Q4 bsrr Impaired Financing Receivable With No Related Allowance Related Allowance
ImpairedFinancingReceivableWithNoRelatedAllowanceRelatedAllowance
USD
CY2014Q3 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
30177000 USD
CY2014Q3 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
30043000 USD
CY2014Q3 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
5181000 USD
us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
32998000 USD
CY2014Q3 bsrr Increase Decrease In Financing Receivable Modification
IncreaseDecreaseInFinancingReceivableModification
25000 USD
CY2014Q3 bsrr Financing Receivable Modifications Reserve
FinancingReceivableModificationsReserve
35000 USD
us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
1271000 USD
us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
1271000 USD
bsrr Increase Decrease In Financing Receivable Modification
IncreaseDecreaseInFinancingReceivableModification
248000 USD
bsrr Financing Receivable Modifications Reserve
FinancingReceivableModificationsReserve
241000 USD
CY2014Q3 us-gaap Financing Receivable Modifications Subsequent Default Recorded Investment1
FinancingReceivableModificationsSubsequentDefaultRecordedInvestment1
715000 USD
CY2014Q3 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
32200000 USD
CY2014Q3 bsrr Financing Receivable Modifications Charge Offs
FinancingReceivableModificationsChargeOffs
USD
bsrr Financing Receivable Average Investment Nonaccrual Loans
FinancingReceivableAverageInvestmentNonaccrualLoans
19200000 USD
us-gaap Financing Receivable Modifications Subsequent Default Recorded Investment1
FinancingReceivableModificationsSubsequentDefaultRecordedInvestment1
11048000 USD
bsrr Financing Receivable Modifications Charge Offs
FinancingReceivableModificationsChargeOffs
89000 USD
CY2014Q3 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
330000 USD
CY2013 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
7123000 USD
CY2014Q3 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
330000 USD
us-gaap Gain Loss On Investments
GainLossOnInvestments
287000 USD
us-gaap Gain Loss On Investments
GainLossOnInvestments
6000 USD
us-gaap Gain Loss On Sale Of Loans And Leases
GainLossOnSaleOfLoansAndLeases
3000 USD
us-gaap Gain Loss On Sale Of Loans And Leases
GainLossOnSaleOfLoansAndLeases
92000 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-1000 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
15000 USD
us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
531000 USD
us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
-568000 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
286000 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
695000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
57000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
218000 USD
bsrr Provision For Losses
ProvisionForLosses
350000 USD
bsrr Provision For Losses
ProvisionForLosses
2850000 USD
us-gaap Depreciation
Depreciation
1569000 USD
us-gaap Depreciation
Depreciation
1639000 USD
us-gaap Adjustment For Amortization
AdjustmentForAmortization
4925000 USD
us-gaap Adjustment For Amortization
AdjustmentForAmortization
6441000 USD
us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
16000 USD
us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
90000 USD
us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
1001000 USD
us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
1389000 USD
us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
108000 USD
us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
3662000 USD
us-gaap Increase Decrease In Loans Held For Sale
IncreaseDecreaseInLoansHeldForSale
USD
us-gaap Increase Decrease In Loans Held For Sale
IncreaseDecreaseInLoansHeldForSale
3627000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1923000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-3119000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1756000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1161000 USD
us-gaap Increase Decrease In Loans From Other Federal Home Loan Banks
IncreaseDecreaseInLoansFromOtherFederalHomeLoanBanks
-190000 USD
us-gaap Increase Decrease In Loans From Other Federal Home Loan Banks
IncreaseDecreaseInLoansFromOtherFederalHomeLoanBanks
438000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
864000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
378000 USD
bsrr Excess Tax Charge Benefit From Share Based Compensation Operating Activities
ExcessTaxChargeBenefitFromShareBasedCompensationOperatingActivities
USD
bsrr Excess Tax Charge Benefit From Share Based Compensation Operating Activities
ExcessTaxChargeBenefitFromShareBasedCompensationOperatingActivities
253000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
21397000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
25196000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
995000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
1399000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
11055000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
3454000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
111425000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
120352000 USD
bsrr Principal Paydowns On Securities Available For Sale
PrincipalPaydownsOnSecuritiesAvailableForSale
57062000 USD
bsrr Principal Paydowns On Securities Available For Sale
PrincipalPaydownsOnSecuritiesAvailableForSale
76815000 USD
us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
82126000 USD
us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
-61039000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2159000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
275000 USD
us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
4421000 USD
us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
13116000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-122177000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
35196000 USD
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
48867000 USD
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-22556000 USD
bsrr Proceeds From Repayments Of Long Term Debt
ProceedsFromRepaymentsOfLongTermDebt
22390000 USD
bsrr Proceeds From Repayments Of Long Term Debt
ProceedsFromRepaymentsOfLongTermDebt
-41650000 USD
us-gaap Proceeds From Payments For In Securities Sold Under Agreements To Repurchase
ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase
1196000 USD
us-gaap Proceeds From Payments For In Securities Sold Under Agreements To Repurchase
ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase
4277000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
7284000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
811000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1121000 USD
bsrr Excess Tax Charge Benefit From Share Based Compensation Financing Activities
ExcessTaxChargeBenefitFromShareBasedCompensationFinancingActivities
USD
bsrr Excess Tax Charge Benefit From Share Based Compensation Financing Activities
ExcessTaxChargeBenefitFromShareBasedCompensationFinancingActivities
253000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
62452000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-61241000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-38328000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-849000 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
78006000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
61818000 USD
CY2014Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
39678000 USD
CY2013Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
60969000 USD
dei Entity Registrant Name
EntityRegistrantName
SIERRA BANCORP
dei Entity Central Index Key
EntityCentralIndexKey
0001130144
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Amendment Flag
AmendmentFlag
false
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3

Files In Submission

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0001144204-14-065449-index.html Edgar Link pending
0001144204-14-065449.txt Edgar Link pending
0001144204-14-065449-xbrl.zip Edgar Link pending
bsrr-20140930.xml Edgar Link completed
bsrr-20140930.xsd Edgar Link pending
bsrr-20140930_cal.xml Edgar Link unprocessable
bsrr-20140930_def.xml Edgar Link unprocessable
bsrr-20140930_lab.xml Edgar Link unprocessable
bsrr-20140930_pre.xml Edgar Link unprocessable
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v391985_10q.htm Edgar Link pending
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v391985_ex32.htm Edgar Link pending