Sierra Bancorp (BSRR, Financial) filed Quarterly Report for the period ended 2010-06-30.
Sierra Bancorp has a market cap of $134.24 million; its shares were traded at around $11.54 with a P/E ratio of 15.81 and P/S ratio of 1.54. The dividend yield of Sierra Bancorp stocks is 2.08%. Sierra Bancorp had an annual average earning growth of 5.3% over the past 10 years.
Net income for the first six months of 2010 was $4.9 million, a drop of $405,000, or 8%, relative to net income for the first six months of 2009. Basic and diluted earnings per share were $0.42 for the first six months of 2010, compared to $0.55 basic earnings per share and $0.54 diluted earnings per share for the first six months of 2009. The Company realized an annualized return on average equity of 7.17% for the first half of 2010 and 9.70% for the first half of 2009, and a return on assets for the same periods of 0.74% and 0.81%, respectively. The principal reasons for the first half net income variance include the following:
The Companys assets totaled $1.328 billion at June 30, 2010, a drop of 1% relative to total assets of $1.336 billion at December 31, 2009. The most significant characteristics of, and changes in, the Companys balance sheet during the first half of 2010 are outlined below:
For the second quarter of 2010 relative to the second quarter of 2009, net interest income declined by $432,000, or 3%. For the first half, net interest income was up by $68,000, or less than 1%. The level of net interest income depends on several factors in combination, including growth in earning assets, yields on earning assets, the cost of interest-bearing liabilities, the relative volume of earning assets and interest-bearing liabilities, and the mix of products which comprise the Companys earning assets, deposits, and other interest-bearing liabilities. Net interest income can also be impacted by the reversal of interest for loans placed on non-accrual, and by the recovery of interest on loans that have been on non-accrual and are either sold or returned to accrual status.
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Sierra Bancorp has a market cap of $134.24 million; its shares were traded at around $11.54 with a P/E ratio of 15.81 and P/S ratio of 1.54. The dividend yield of Sierra Bancorp stocks is 2.08%. Sierra Bancorp had an annual average earning growth of 5.3% over the past 10 years.
Highlight of Business Operations:
Net income for the quarter ended June 30, 2010 was $2.5 million, a drop of 2% when compared to net income of $2.6 million for the quarter ended June 30, 2009. Basic and diluted earnings per share for the second quarter of 2010 were $0.22, compared to $0.27 basic and diluted earnings per share for the second quarter of 2009. The Companys annualized return on average equity was 7.36% and annualized return on average assets was 0.77% for the quarter ended June 30, 2010, compared to a return on equity of 9.38% and return on assets of 0.79% for the quarter ended June 30, 2009. The primary drivers behind the variance in net income are as follows:Net income for the first six months of 2010 was $4.9 million, a drop of $405,000, or 8%, relative to net income for the first six months of 2009. Basic and diluted earnings per share were $0.42 for the first six months of 2010, compared to $0.55 basic earnings per share and $0.54 diluted earnings per share for the first six months of 2009. The Company realized an annualized return on average equity of 7.17% for the first half of 2010 and 9.70% for the first half of 2009, and a return on assets for the same periods of 0.74% and 0.81%, respectively. The principal reasons for the first half net income variance include the following:
The Companys assets totaled $1.328 billion at June 30, 2010, a drop of 1% relative to total assets of $1.336 billion at December 31, 2009. The most significant characteristics of, and changes in, the Companys balance sheet during the first half of 2010 are outlined below:
For the second quarter of 2010 relative to the second quarter of 2009, net interest income declined by $432,000, or 3%. For the first half, net interest income was up by $68,000, or less than 1%. The level of net interest income depends on several factors in combination, including growth in earning assets, yields on earning assets, the cost of interest-bearing liabilities, the relative volume of earning assets and interest-bearing liabilities, and the mix of products which comprise the Companys earning assets, deposits, and other interest-bearing liabilities. Net interest income can also be impacted by the reversal of interest for loans placed on non-accrual, and by the recovery of interest on loans that have been on non-accrual and are either sold or returned to accrual status.
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