$BSRR
SIERRA BANCORP

2021 Q2 Form 10-Q Financial Statement

#000155837021010353 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 Q1
Revenue $28.09M $25.39M $26.05M
YoY Change 10.66% -8.64% -5.21%
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 $1.360M $1.040M $1.040M
YoY Change 30.77% 1.96% 37.93%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $903.0K $1.244M $2.264M
YoY Change -27.41% -65.34% -35.5%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $15.67M $10.81M $10.28M
YoY Change 44.93% -9.91% -12.38%
Income Tax $3.958M $2.506M $2.468M
% Of Pretax Income 25.26% 23.18% 24.02%
Net Earnings $11.71M $8.303M $7.807M
YoY Change 41.01% -5.96% -12.23%
Net Earnings / Revenue 41.68% 32.71% 29.97%
Basic Earnings Per Share $0.77 $0.55 $0.51
Diluted Earnings Per Share $0.76 $0.54 $0.52
COMMON SHARES
Basic Shares Outstanding 15.24M 15.19M 15.26M
Diluted Shares Outstanding 15.38M 15.24M 15.34M

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $373.9M $156.6M $107.0M
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 $25.95M $27.78M $28.40M
YoY Change -6.59% -2.19% -1.73%
Goodwill $27.36M $27.36M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $3.300B $3.100B $2.671B
YoY Change 6.45% 20.29% 5.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $70.50M $163.0M $29.40M
YoY Change -56.75% 573.55% 51.55%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $70.50M $41.40M $29.40M
YoY Change 70.29% 71.07% 51.55%
LONG-TERM LIABILITIES
Long-Term Debt $35.20M $35.00M $35.00M
YoY Change 0.57% 0.29% 0.57%
Other Long-Term Liabilities $32.70M $36.40M $33.20M
YoY Change -10.16% 8.33% -17.21%
Total Long-Term Liabilities $67.90M $71.40M $68.20M
YoY Change -4.9% 4.23% -8.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $70.50M $41.40M $29.40M
Total Long-Term Liabilities $67.90M $71.40M $68.20M
Total Liabilities $2.914B $2.783B $2.351B
YoY Change 4.73% 22.03% 4.26%
SHAREHOLDERS EQUITY
Retained Earnings $224.7M $195.1M
YoY Change 15.14%
Common Stock $117.6M $116.1M
YoY Change 1.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $357.7M $327.4M $319.5M
YoY Change
Total Liabilities & Shareholders Equity $3.272B $3.110B $2.671B
YoY Change 5.21% 20.68% 5.18%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income $11.71M $8.303M $7.807M
YoY Change 41.01% -5.96% -12.23%
Depreciation, Depletion And Amortization $1.360M $1.040M $1.040M
YoY Change 30.77% 1.96% 37.93%
Cash From Operating Activities $6.620M $11.48M $10.29M
YoY Change -42.33% 208.6% -31.23%
INVESTING ACTIVITIES
Capital Expenditures -$210.0K -$70.00K $1.716M
YoY Change 200.0% -70.83% 1872.41%
Acquisitions
YoY Change
Other Investing Activities $88.49M -$387.1M -$44.99M
YoY Change -122.86% 1083.85% 353.53%
Cash From Investing Activities $88.27M -$387.2M -$46.71M
YoY Change -122.8% 1075.11% 366.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.562M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -67.21M 425.3M 63.33M
YoY Change -115.8% 1369.73% -673.98%
NET CHANGE
Cash From Operating Activities 6.620M 11.48M 10.29M
Cash From Investing Activities 88.27M -387.2M -46.71M
Cash From Financing Activities -67.21M 425.3M 63.33M
Net Change In Cash 27.68M 49.62M 26.92M
YoY Change -44.22% -17210.34% -543.48%
FREE CASH FLOW
Cash From Operating Activities $6.620M $11.48M $10.29M
Capital Expenditures -$210.0K -$70.00K $1.716M
Free Cash Flow $6.830M $11.55M $8.577M
YoY Change -40.87% 191.67% -42.36%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei City Area Code
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dei Local Phone Number
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dei Security12b Title
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dei Trading Symbol
TradingSymbol
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dei Security Exchange Name
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us-gaap Nature Of Operations
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;text-decoration:underline;text-decoration-color:#000000;">Note 1 – The Business of Sierra Bancorp</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Sierra Bancorp (the “Company”) 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 “Bank”), 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. As of June 30, 2021, the Company’s only other subsidiaries were Sierra Statutory Trust II, Sierra Capital Trust III, and Coast Bancorp Statutory Trust II, which were formed solely to facilitate the issuance of capital trust pass-through securities (“TRUPS”). Pursuant to the Financial Accounting Standards Board (“FASB”) 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 “Company” include Sierra Bancorp and its consolidated subsidiary, the Bank, unless the context indicates otherwise.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Bank of the Sierra, a California state-chartered bank headquartered in Porterville, California, offers a wide range of retail and commercial banking services via branch offices located throughout California’s South San Joaquin Valley, the Central Coast, Ventura County, the Sacramento area, and neighboring communities. The Bank was incorporated in September 1977, and opened for business in January 1978 as a one-branch bank with $1.5 million in capital. Our growth in the ensuing years has largely been organic in nature, but includes four whole-bank acquisitions: Sierra National Bank in 2000, Santa Clara Valley Bank in 2014, Coast National Bank in 2016, and Ojai Community Bank in October 2017. As of the filing date of this report the Bank operates 35 full-service branches and an online branch, and maintains ATMs at all but one of our branch locations as well as seven non-branch locations. Moreover, the Bank has specialized lending units which focus on agricultural borrowers, SBA loans, and mortgage warehouse lending. In addition, in February 2020 the bank opened a loan production office which is currently located in Roseville, CA. The Company had total assets of $3.3 billion at June 30, 2021, and for a number of years we have claimed the distinction of being the largest bank headquartered in the South San Joaquin Valley. The Bank’s deposit accounts, which totaled $2.8 billion at June 30, 2021, are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to maximum insurable amounts.</p>
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1616000
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563000
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1954000
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1954000
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640000
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5951000
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518000
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CY2020Q4 bsrr Financing Receivable Allowance For Credit Losses General Reserves
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16742000
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses
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18980000
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Files In Submission

Name View Source Status
0001558370-21-010353-index-headers.html Edgar Link pending
0001558370-21-010353-index.html Edgar Link pending
0001558370-21-010353.txt Edgar Link pending
0001558370-21-010353-xbrl.zip Edgar Link pending
bsrr-20210630.xsd Edgar Link pending
bsrr-20210630x10q.htm Edgar Link pending
bsrr-20210630x10q_htm.xml Edgar Link completed
bsrr-20210630xex31d1.htm Edgar Link pending
bsrr-20210630xex31d2.htm Edgar Link pending
bsrr-20210630xex32.htm Edgar Link pending
bsrr-20210630_cal.xml Edgar Link unprocessable
bsrr-20210630_def.xml Edgar Link unprocessable
bsrr-20210630_lab.xml Edgar Link unprocessable
bsrr-20210630_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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report.css Edgar Link pending
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