Core Viewpoint - Sierra Bancorp (BSRR) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is effective for individual investors as it focuses on earnings estimate revisions, which are strongly correlated with near-term stock price movements [2][4]. - An increase in earnings estimates typically leads to higher fair value calculations by institutional investors, resulting in buying or selling actions that affect stock prices [4]. Company Performance Indicators - For the fiscal year ending December 2024, Sierra Bancorp is expected to earn $2.79 per share, reflecting an 18.2% increase from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for Sierra Bancorp has risen by 1.1%, indicating a positive trend in earnings expectations [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 (Strong Buy) stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade of Sierra Bancorp to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10][11].

Group 1 - Sierra Bancorp (BSRR) has outperformed its Finance peers with a year-to-date performance increase of approximately 41.3%, compared to the average return of 26.6% for Finance companies [4] - The Zacks Rank for Sierra Bancorp is currently 2 (Buy), indicating a positive earnings outlook as the consensus estimate for full-year earnings has increased by 1.1% over the past quarter [3] - Sierra Bancorp is part of the Banks - West industry, which has seen an average gain of 29.5% this year, further highlighting its strong performance within this specific sector [5] Group 2 - Northern Trust Corporation (NTRS) is another Finance stock that has outperformed the sector, with a year-to-date increase of 30.2% [4] - The consensus EPS estimate for Northern Trust Corporation has risen by 6.9% over the past three months, and it also holds a Zacks Rank of 2 (Buy) [5] - The Banks - Major Regional industry, to which Northern Trust belongs, has experienced a year-to-date increase of 33.4% [6]

Financial Performance - Net income for Q3 2024 was $10.6 million, or $0.74 per diluted share, compared to $0.68 per diluted share in Q3 2023, reflecting a 7% increase in net income [142]. - Noninterest income rose by $1.7 million, or 7%, driven by higher service charges and transaction-based fees [148]. - Total noninterest income for Q3 2024 was $7.789 million, unchanged from Q3 2023, but increased by $1.7 million, or 7%, year-to-date compared to the same period in 2023 [188]. - The effective tax rate for Q3 2024 was 26.4%, compared to 25.8% in Q3 2023, and 26.8% for the first nine months of 2024, compared to 25.3% for the same period in 2023 [197]. - The company recorded a $3.9 million favorable variance in the first nine months of 2024, with a $9.4 million increase in loan balances [177]. Interest Income and Margin - Net interest income increased by $2.7 million, or 10%, to $30.8 million in Q3 2024, driven by a 36 basis point increase in net interest margin [155]. - The net interest margin improved to 3.66% in Q3 2024, up 36 basis points from Q3 2023 [163]. - The net interest margin increased by 27 basis points, driven by a 45 basis point rise in yield on interest-earning assets, partially offset by a 28 basis point increase in interest rates on interest-bearing liabilities [164]. - Total interest-earning assets amounted to $3,389,516 with a yield of 5.31% for the three months ended September 30, 2024, compared to 4.94% for the same period in 2023 [169]. - The company's net interest margin for Q3 2024 was 3.66%, compared to 3.30% in Q3 2023 [176]. Loans and Credit Quality - Gross loans increased by $230.6 million, with significant growth in mortgage warehouse lines and commercial loans, partially offset by a decrease in residential real estate loans [150]. - The provision for credit losses on loans was $1.2 million for Q3 2024, up from $0.1 million in Q3 2023 [182]. - Total nonperforming assets increased by $2.4 million to $10.3 million for the first nine months of 2024, with nonperforming loans as a percentage of total gross loans rising to 0.45% from 0.38% at December 31, 2023 [220]. - The allowance for credit losses on loans was $22.7 million at September 30, 2024, down from $23.5 million at December 31, 2023, representing 0.98% of gross loans [226]. - The largest increase in loan balances was from mortgage warehouse lines, which have the lowest reserve rate in the allowance for credit losses at 0.14% [226]. Assets and Liabilities - Total assets decreased by $33.6 million, or 1.0%, to $3.7 billion as of September 30, 2024, compared to December 31, 2023 [149]. - Total interest-bearing deposits reached $1,945,047 with an average rate of 2.45% for the three months ended September 30, 2024, compared to 1.91% in the same period of 2023 [169]. - Total assets as of September 30, 2024, were $3,621,959, a decrease from $3,713,882 in the previous year [171]. - The company reported a decrease in non-earning assets to $288,975 from $275,883 year-over-year [168]. - Total non-deposit interest-bearing liabilities decreased by $262.1 million due to a balance sheet restructure [243]. Deposits - Deposits totaled $3.0 billion, representing a year-to-date increase of $200.9 million, or 7%, primarily from brokered deposits [151]. - Core non-maturity deposits rose by $31.0 million, or 6%, while customer time deposits decreased by $5.0 million, or 1% [238]. - Wholesale brokered deposits surged by $175.0 million, or 130%, during the first nine months of 2024 [238]. - Overall uninsured deposits were approximately $816.2 million, or 28% of total deposit balances [239]. - The Company's loan-to-deposit ratio was 78% at September 30, 2024, compared to 76% at December 31, 2023 [248]. Capital and Shareholder Equity - Total capital increased by $20.6 million, or 6%, to $358.7 million, supported by net income and changes in accumulated other comprehensive income [153]. - As of September 30, 2024, total shareholders' equity increased to $358.7 million from $338.1 million at the end of 2023, driven by net income of $30.2 million and offset by $10.2 million in dividends and $8.3 million in share repurchases [259]. - The company approved a new share repurchase program in October 2023, authorizing the repurchase of 1,000,000 shares, with 406,809 shares repurchased in the first nine months of 2024 [259]. - The company's Tier 1 Capital to Adjusted Average Assets ratio was 11.70% as of September 30, 2024, compared to 11.29% at the end of 2023, exceeding the minimum requirement of 9.00% [261]. - The company has opted into the community bank leverage ratio framework, maintaining a leverage ratio greater than 9% to meet capital requirements [263]. Risk Management and Sensitivity - For an immediate upward adjustment of 100 basis points in interest rates, net interest income is projected to increase by $3.4 million, or 2.5%, over the next 12 months [256]. - A downward adjustment of 100 basis points in interest rates would result in a decrease of $7.0 million, or 5.2%, in net interest income over the same period [256]. - The company models various interest rate scenarios, indicating less sensitivity to expected changes due to the current inverted rate curve [258]. - The company runs stress scenarios for the unconsolidated bank, focusing on the potential runoff of low-cost deposits which significantly impacts net interest income [258]. - The company experienced a favorable swing of $7.4 million in other comprehensive income due to changes in investment securities' fair value during the first nine months of 2024 [259].

Core Insights - Sierra Bancorp reported revenue of $38.58 million for Q3 2024, a year-over-year increase of 7.6% and a surprise of +0.73% over the Zacks Consensus Estimate of $38.3 million [1] - The EPS for the quarter was $0.74, compared to $0.68 a year ago, with an EPS surprise of +1.37% against the consensus estimate of $0.73 [1] Financial Performance Metrics - Net Interest Margin stood at 3.7%, matching the average estimate from three analysts [1] - Efficiency ratio (tax-equivalent) was 58.4%, slightly better than the average estimate of 59.2% [1] - Total Non-performing loans were reported at $10.35 million, exceeding the average estimate of $6.99 million from two analysts [1] - Net Charge-Offs as a percentage of Average Loans was 0%, better than the estimated 0.2% [1] - Average Interest-Earning Assets totaled $3.39 billion, aligning with the average estimate from two analysts [1] - Total Nonperforming Assets were also $10.35 million, above the average estimate of $6.99 million [1] - Total non-interest income reached $7.79 million, slightly above the average estimate of $7.69 million [1] - Net Interest Income was reported at $30.79 million, compared to the average estimate of $30.96 million [1] Stock Performance - Shares of Sierra Bancorp have returned -8.7% over the past month, contrasting with the Zacks S&P 500 composite's +2.8% change [2] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [2]

Sierra Bancorp (BSRR) came out with quarterly earnings of $0.74 per share, beating the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.68 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.37%. A quarter ago, it was expected that this parent company of Bank of the Sierra would post earnings of $0.61 per share when it actually produced earnings of $0.71, delivering a surprise of 16.39%.Over the last ...

Exhibit 99.1 Date: October 21, 2024 Contact: Kevin McPhaill, President/CEO Phone: (559) 782-4900 or (888) 454-BANK Website Address: www.sierrabancorp.com FOR IMMEDIATE RELEASE SIERRA BANCORP REPORTS IMPROVED FINANCIAL RESULTS FOR THIRD QUARTER AND FIRST NINE MONTHS OF 2024 PORTERVILLE, CALIF. – (BUSINESS WIRE) – Sierra Bancorp (Nasdaq: BSRR), parent of Bank of the Sierra, today announced its unaudited financial results for the three- and nine-month periods ended September 30, 2024. Sierra Bancorp reported c ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Sierra Bancorp (BSRR) . This company, which is in the Zacks Banks - West industry, shows potential for another earnings beat. This parent company of Bank of the Sierra has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the pas ...

It seems to be a wise idea to add the Sierra Bancorp (BSRR) stock to your portfolio now. Supported by decent loan growth and higher interest rates, the company is well-poised for top-line improvement. Also, its robust balance sheet helps sustain efficient capital distribution activities. Analysts seem optimistic regarding BSRR's earnings growth potential. Over the past 60 days, the Zacks Consensus Estimate for its 2024 earnings has been revised 12.7% upward. Thus, the company currently sports a Zacks Rank # ...

Table of Contents 0 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2024 Commission file number: 000-33063 SIERRA BANCORP (Exact name of Registrant as specified in its charter) California 33-0937517 (State of Incorporation) (IRS Employer Identification No) 86 North Main Street, Porterville, California 93257 (Address of principal executive offices) ...

Current-Quarter Estimate Revisions In terms of estimate revisions, the trend for the current year also appears quite encouraging for Sierra Bancorp. Over the past month, two estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 5.41%. Sierra Bancorp shares have added 43.5% over the past four weeks, suggesting that investors are betting on its impressive estimate revisions. So, you may consider adding it to your portfolio right away to benefit from its earning ...