BSRR

PORTERVILLE, Calif., July 27, 2026--(BUSINESS WIRE)--Sierra Bancorp (Nasdaq: BSRR), parent of Bank of the Sierra, today announced its unaudited financial results for the three- and six-month periods ended June 30, 2026. Sierra Bancorp reported consolidated net income of $9.9 million, or $0.77 per diluted share, for the second quarter of 2026, compared to $10.6 million, or $0.78 per diluted share, in the second quarter of 2025. Return on average assets was 1.09% and return on average equity was 10.90% for the second quarter of 2026. For the first six months of 2026, the Company recognized net income of $22.4 million, or $1.72 per diluted share, as compared to $19.7 million, or $1.43 per diluted share, for the same period in 2025. The Company's improved financial performance metrics for the first half of 2026 include a net interest margin of 3.75% and an efficiency ratio of 57.70%, as compared to a net interest margin of 3.71% and efficiency ratio of 60.00% for the same period in 2025. Highlights for the second quarter and first half of 2026: Strong YTD Earnings and Profitability (first half compared to same period last year) Deposit Franchise Strength and Low Cost of Funds Solid Capital and Liquidity "Coming together is the beginning. Keeping together is progress. Working together is success." – Henry Ford "We are proud to serve the Central Valley and Central Coast of California. Our strong commitment to these communities is reflected in our continued solid deposit growth during 2026," stated Kevin McPhaill, CEO and President. "I am particularly proud of our ability to pivot, as demonstrated by the surge in loan growth in the last couple of months. This shift reflects the team’s laser focus on both loan and deposit growth. In particular, our loan pipeline increased significantly, and we expect this momentum to result in net loan growth in the second half of 2026. Our expense management strategies resulted in a nearly 2% cost reduction in year-to-date expenses compared to the same period last year. We closed the quarter with contagious optimism throughout our Bank, boosting my confidence in what we can accomplish in the next six months and beyond!" concluded Mr. McPhaill. Quarterly Income Changes (comparisons to the second quarter of 2025) Net income for the second quarter of 2026 decreased $0.7 million, or 7%, to $9.9 million. Net interest income remained stable, decreasing $0.2 million, while noninterest income increased slightly and noninterest expense decreased by $0.3 million. Noninterest expense in the second quarter of 2026 included approximately $0.5 million of severance and recruitment related charges resulting from a restructuring of the executive team. These changes were offset by a $1.1 million increase in credit loss expense on loans, resulting primarily from a $2.5 million specific reserve on a single agricultural production loan to a borrower in the lumber industry. Noninterest income and noninterest expense changes included a $0.4 million increase in earnings from separate account life insurance and a $0.1 million increase in deferred compensation expense. Separate account life insurance income and deferred compensation expense are designed to offset each other. Pre-tax pre-provision income(1) was $15.5 million, a slight increase over the second quarter of 2025. Linked Quarter Income Changes (comparisons to the three months ended March 31, 2026) Net income decreased $2.6 million, or 21%, from the prior linked quarter. The decrease was driven primarily by a $2.2 million increase in credit loss expense, due to the $2.5 million specific reserve mentioned above, and a $1.7 million increase in noninterest expense. The large increase in noninterest expense was related to deferred compensation market changes that are offset by similar changes to separate account life insurance, recorded in noninterest income. The changes in deferred compensation, including deferred directors’ fees, were $1.7 million. In addition, we had $0.5 million in severance and recruiting costs related to an executive leadership restructuring during the quarter. These unfavorable changes were partially offset by a $0.6 million increase in noninterest income. Net interest income remained stable, decreasing $0.2 million from the linked quarter. Average interest-earning assets declined $43.0 million, or 1%, primarily due to lower loan and investment securities balances, while net interest margin remained stable at 3.74% compared to 3.75% in the linked quarter. Overall loan production activity increased throughout the quarter and the pipeline at June 30, 2026, is significantly elevated relative to the prior quarter end. Noninterest income changes included a $1.8 million increase in earnings from separate account life insurance associated with deferred compensation arrangements, offset by a $1.7 million increase in related deferred compensation expense, recorded in noninterest expense. Deferred compensation expense increased primarily due to increases in participant account values resulting from favorable market performance during the quarter. Other changes to noninterest income outside of the above mentioned included a $0.3 million increase in service charge income, primarily driven by higher deposit account fees, partially offset by several nonrecurring transactions in the first quarter of 2026, including a $0.4 million gain on the sale of fixed assets, a $0.4 million special FHLB dividend, and a $0.6 million increase in the fair value of bank stocks. Year-to-Date Income Changes (comparisons to the first six months of 2025) Net income increased $2.7 million, or 14%, to $22.4 million for the first six months of 2026. The increase was driven primarily by a $1.3 million increase in noninterest income, a $1.1 million decrease in provision for credit losses, and a $0.9 million decrease in noninterest expense. Diluted earnings per share increased 20% to $1.72 compared to $1.43 in the comparative period. Net interest income increased $0.3 million due primarily to a four basis point increase in net interest margin to 3.75%, partially offset by slightly lower average earning assets. Funding costs declined meaningfully during the period, with cost of funds decreasing to 1.32% from 1.48% and cost of deposits declining to 1.14% from 1.31%. Noninterest income increased $1.3 million, or 9%, compared to the first six months of 2025. The increase was driven primarily by a $0.5 million increase in earnings on separate account life insurance, a $0.3 million increase in cash surrender value income from life insurance, a $0.2 million increase in service charges and fees, and a $0.4 million gain on sale of fixed assets. These favorable variances were partially offset by lower securities gains. Noninterest expense decreased $0.9 million, or 2%, compared to the first six months of 2025. The reduction was driven primarily by lower other operating expenses and deposit service costs, partially offset by increased occupancy expenses and higher professional service costs. Pre-tax pre-provision income(1) was $32.2 million for the first half of 2026, an increase of $2.4 million, or 8%. Balance Sheet Changes (comparisons to December 31, 2025, unless otherwise noted) Total assets decreased $108.7 million, or 3%, to $3.72 billion during the first six months of 2026. The decline was primarily attributable to reductions in mortgage warehouse balances of $60.9 million and investment securities of $21.4 million. Gross loans decreased $90.8 million, or 4%, due to a $60.9 million decrease in mortgage warehouse balances, a $13.9 million decrease in residential real estate loans, a $13.4 million decrease in other commercial loans, a $1.2 million decrease in commercial real estate, and a $2.5 million decrease in farmland loans. These decreases were partially offset by an increase of $1.4 million in construction loans. Mortgage warehouse average balances increased $8.0 million during the second quarter of 2026 compared to the linked quarter, while ending balances declined by $21.0 million. Average balances of commercial real estate and commercial and industrial loans decreased during the quarter, and period-end balances remained relatively flat. However, loan production strengthened significantly as the quarter progressed, reflecting a shift in momentum entering the third quarter of 2026 and supporting an increased pipeline of commercial real estate and commercial and industrial lending opportunities. Total deposits increased $54.6 million, or 2%. Growth was concentrated in noninterest-bearing demand deposits and non-maturing interest-bearing deposits. Customer deposits increased $57.5 million, while brokered deposits decreased $2.9 million during the period. Other interest-bearing liabilities declined to $155.0 million at June 30, 2026, from $302.7 million at December 31, 2025. The $147.7 million decline was primarily due to a reduction in overnight borrowings used to fund mortgage warehouse lending activity. Other financial highlights are reflected in the following table. INCOME STATEMENT HIGHLIGHTS Net Interest Income Net interest income was $30.4 million for the second quarter of 2026, a decrease of $0.2 million, or 1%, compared to the second quarter of 2025. The decrease was primarily attributable to lower average interest-earning asset balances and yields, substantially offset by lower funding costs. Interest expense declined $1.5 million, or 13%, from the prior-year quarter, reflecting the benefits of lower deposit and wholesale funding costs. For the second quarter of 2026, average interest-earning assets decreased $81.2 million, or 2%, from the same period in 2025, while the yield on those assets declined eight basis points to 5.02%. The decline in average earning assets was driven primarily by lower investment securities balances and decreases in real estate loans and agricultural production loans. Average interest-bearing liabilities decreased $23.7 million in the second quarter of 2026 compared to the same period in 2025, while the cost of those liabilities declined 26 basis points to 1.92%. The quarterly decrease in cost was primarily attributable to a 28 basis point reduction in the cost of interest-bearing deposits and a 23 basis point reduction in the cost of borrowed funds. Average interest-bearing deposit balances declined $42.8 million from the prior-year quarter, comprised primarily of a decline in higher-cost customer time deposits which decreased $62.7 million and brokered deposits which declined $16.2 million. These changes were partially offset by higher average balances of federal funds purchased, which increased to fund mortgage warehouse lending activity. The reduction in funding costs more than offset the modest decline in earning asset yields, resulting in a six basis point increase in the net interest margin to 3.74% from 3.68% in the second quarter of 2025. Compared to the linked first quarter of 2026, net interest income decreased $0.2 million. Average interest-earning assets declined $43.0 million, or 1%, while yields on earning assets decreased two basis points. Average interest-bearing liabilities declined $16.0 million and the cost of those liabilities decreased two basis points to 1.92%. As a result, interest margin was essentially stable at 3.74% for the second quarter of 2026, compared to 3.75% for the first quarter of 2026. Net interest income for the first six months of 2026 increased $0.3 million to $61.0 million, compared to the same period in 2025. The increase resulted primarily from an improved net interest margin, driven by lower funding costs and partially offset by a modest decline in average earning assets. Average interest-earning assets decreased $19.6 million, or 1%, and the yield on those assets decreased nine basis points to 5.03%. For the first six months of 2026, interest expense decreased $2.3 million to $21.1 million, compared to $23.4 million during the same period in 2025. The decrease was driven by a 23 basis point reduction in the cost of interest-bearing liabilities to 1.93%, partially offset by a $25.1 million increase in average interest-bearing liabilities. The reduction in funding costs contributed to a four basis point increase in net interest margin to 3.75% for the first six months of 2026, compared to 3.71% for the same period in 2025. At June 30, 2026, approximately $457.5 million, or 19%, of the Company's loan portfolio consisted of mortgage warehouse facilities, which generally reprice immediately as interest rates change. In addition, approximately $214.4 million of collateralized loan obligations and other floating-rate securities within the available-for-sale portfolio continue to provide asset sensitivity through periodic rate resets. Credit Loss Expense The credit loss expense on loans was $2.3 million for the second quarter of 2026, compared to $1.2 million for the second quarter of 2025. For the first six months of 2026, the provision for credit losses on loans was $2.4 million, compared to $3.2 million for the same period in 2025. A $2.5 million specific reserve established on an agricultural production loan during the second quarter of 2026 was the primary driver of the increase in credit loss expense for the quarterly comparison. Despite this reserve build, year-to-date credit loss expense benefited from a $6.1 million reduction in net charge-offs compared to the first six months of 2025. The Company recorded a benefit for credit losses on unfunded commitments of $0.1 million during the second quarter of 2026 and a benefit of $0.1 million for the first six months of 2026, compared to a benefit of less than $0.1 million for the second quarter of 2025 and a provision of $0.1 million for the first six months of 2025. The Company also recorded an immaterial benefit related to credit losses on held-to-maturity debt securities during the first six months of 2026. No provision for credit losses was recorded on available-for-sale debt securities during the periods presented. Although certain debt securities remained in an unrealized loss position, the declines in fair value were primarily attributable to changes in market interest rates and not to expected credit losses. Noninterest Income Total noninterest income increased $0.6 million, or 8%, to $8.6 million in the second quarter of 2026 from $8.0 million in the linked quarter. The increase was driven primarily by a $1.8 million favorable change in earnings on separate account life insurance and an increase of $0.3 million in service charges and fees on deposits. This increase was partially offset by the absence of several non-recurring income items recognized during the first quarter of 2026, including a $0.4 million gain on the sale of fixed assets, a $0.4 million special FHLB dividend, and a $0.6 million increase in the fair value of bank stocks. Compared to the second quarter of 2025, total noninterest income was unchanged at $8.6 million. Favorable variances included a $0.4 million increase in earnings on separate account BOLI, a $0.1 million increase in service charges and fees on deposit accounts, and a modest increase in cash surrender value income from life insurance. These improvements were largely offset by a $0.6 million decrease in other income, mainly due to a decrease in gain on life insurance proceeds. For the first six months of 2026, noninterest income increased $1.3 million, or 9%, to $16.5 million compared to $15.2 million for the same period in 2025. The increase was driven primarily by a $0.5 million increase in earnings on separate account life insurance, a $0.3 million increase in cash surrender value income from life insurance, a $0.2 million increase in service charges and fees on deposit accounts, and a $0.4 million favorable variance from gains on sales of fixed assets. These favorable changes were partially offset by lower gains on sale of investment securities. The Company’s non‑qualified deferred compensation plan for officers and directors allows participants to defer a portion of their earnings and select from various hypothetical investment alternatives to determine their individual returns. The Company economically offsets this liability with separate account life insurance policies that are invested in similar underlying fund types within the life insurance policy. Because the deferred compensation liability and the separate account life insurance asset are not contractually linked, differences in balances, fund performance, and insurance costs can result in temporary timing mismatches between changes in separate account life insurance income and the related deferred compensation expense. Earnings on separate account life insurance were $1.4 million for the second quarter of 2026, compared to a loss of $0.4 million in the linked quarter and earnings of $1.0 million in the second quarter of 2025. For the first six months of 2026, earnings on separate account life insurance totaled $1.0 million, compared to $0.5 million for the same period in 2025. These changes reflect market-driven fluctuations in the value of the underlying investment alternatives and do not represent changes in the operating performance or credit quality of the Company. The majority of the related deferred compensation expense or benefit is reported within professional services expense under deferred directors' fees, as it primarily relates to directors' deferred compensation elections. Deferred directors' fee expense was $1.0 million during the second quarter of 2026, compared to a benefit of $0.6 million in the linked quarter and expense of $0.9 million in the second quarter of 2025. For the first six months of 2026, deferred directors' fee expense totaled $0.5 million, compared to $0.5 million during the same period in 2025. Noninterest Expense Total noninterest expense increased $1.7 million, or 8%, to $23.5 million during the second quarter of 2026 from $21.8 million in the linked first quarter of 2026 primarily due to deferred compensation expense described above. Compared to the second quarter of 2025, total noninterest expense decreased $0.3 million, or 1%. Salaries and benefits expense remained essentially unchanged from the prior year quarter. Other noninterest expense decreased $0.3 million, primarily due to lower deposit service costs and other operating expenses. These favorable variances were partially offset by higher deferred compensation expense, legal and accounting costs, and directors' fees. For the first six months of 2026, noninterest expense decreased $0.9 million, or 2%, to $45.3 million from $46.2 million for the same period in 2025. Salaries and benefits decreased $0.3 million, while other noninterest expense declined $0.7 million. The improvement was primarily attributable to lower deposit service costs, lower operating expenses, and reduced sundry and teller expenses, partially offset by higher occupancy costs, legal and accounting expenses, and director-related costs. These results reflect management's continued focus on maintaining a relatively flat expense base while selectively investing in strategic growth initiatives, technology enhancements, regulatory compliance, and customer service capabilities. Overall full-time equivalent employees were 452 at June 30, 2026, as compared to 465 at December 31, 2025, and 494 at June 30, 2025. The Company's effective tax rate was 25.3% for the second quarter of 2026, unchanged from the second quarter of 2025 and as compared to 25.2% in the linked first quarter of 2026. For the first six months of 2026, the effective tax rate was 25.2%, compared to 25.5% for the same period in 2025. The lower year-to-date effective tax rate reflects the continued benefit of tax-exempt income and tax credit investments as a percentage of pre-tax earnings. Balance Sheet Summary Total assets decreased $108.7 million, or 3%, during the first six months of 2026 to $3.72 billion at June 30, 2026. The decline was primarily attributable to a $90.8 million decrease in gross loans and a $21.4 million decrease in investment securities, partially offset by a $7.1 million increase in cash and cash equivalents. The decrease in gross loan balances compared to December 31, 2025, was primarily driven by a $60.9 million reduction in mortgage warehouse balances, reflecting normal fluctuations in mortgage origination activity and secondary market demand. Other changes in loan balances were primarily attributable to scheduled paydowns, payoffs, and normal customer activity. Despite the decline in period-end balances, mortgage warehouse average balances increased $8.0 million during the second quarter of 2026 compared to the linked quarter. Average balances of commercial real estate and commercial and industrial loans declined modestly during the quarter, while period-end balances remained relatively stable. As the quarter progressed, however, loan production strengthened significantly, reflecting a shift in momentum entering the third quarter of 2026. This improvement was particularly evident within the commercial real estate and commercial and industrial portfolios and resulted in an enhanced pipeline of lending opportunities entering the second half of the year. The Company's loan portfolio remains diversified, with commercial real estate representing 57% of total loans, mortgage warehouse balances representing 19%, residential real estate comprising 14%, and other commercial loans representing 7% of the portfolio at June 30, 2026. Commercial real estate balances remained relatively stable during the first six months of the year despite elevated payoff activity, reflecting continued success in replacing runoff with new production. As indicated in the loan rollforward table below, new credit extended for the second quarter of 2026 increased $41.6 million over the linked quarter to $49.4 million and increased $1.2 million over the same period in 2025. The Company also had $59.6 million in loan paydowns and maturities, a $27.4 million decline in line of credit utilization, and a decrease of $60.9 million in mortgage warehouse facility utilization for the first half of 2026. A summary of the Company’s unfunded commitments and utilization is presented below (dollars in thousands, unaudited): Total deposits increased $54.6 million, or 2%, during the first six months of 2026. Core non-maturity deposits increased $67.8 million, or 3%, while customer time deposits decreased $10.3 million, or 2%. Wholesale brokered deposits decreased $2.9 million during the period due to growth in core deposits. Noninterest-bearing deposits increased $30.7 million during the first six months of 2026 and represented 35.0% of total deposits at June 30, 2026, compared to 34.6% at December 31, 2025, and 35.8% at June 30, 2025. The Company's strong base of noninterest-bearing deposits continued to support a favorable funding mix and contributed to lower funding costs. Total borrowed funds totaled $363.0 million at June 30, 2026, consisting of $122.4 million in customer repurchase agreements, $120.0 million in overnight borrowings, $35.0 million in FHLB term advances, $49.5 million in long-term debt, and $36.1 million in subordinated debentures. Compared to December 31, 2025, total borrowed funds decreased $156.1 million, primarily due to a reduction in overnight borrowings and FHLB term advances as mortgage warehouse balances declined. Overall uninsured deposits are estimated to be approximately $734.2 million, or 25% of total deposit balances, excluding public agency deposits that are subject to collateralization through a letter of credit issued by the FHLB. In addition, uninsured deposits of the Bank’s customers are eligible for FDIC pass-through insurance if the customer opens an IntraFi Insured Cash Sweep (ICS) account or a time deposit through the Certificate of Deposit Account Registry System (CDARS). IntraFi allows for up to $285 million per customer of pass-through FDIC insurance, which would more than cover each of the Bank’s deposit customers if such a customer desired to have such pass-through insurance. The Bank maintains a diversified deposit base with no significant customer concentrations and does not bank any cryptocurrency companies. At June 30, 2026, the Company had approximately 114,000 accounts and the 25 largest deposit balance customers had balances of approximately 11% of overall deposits. During the second quarter of 2026, there were seasonality fluctuations in the normal course of business, and one new customer addition to the composition of our 25 largest deposit balance customers. The Company continues to have substantial liquidity which is managed daily. At June 30, 2026, and December 31, 2025, the Company had the following sources of primary and secondary liquidity (Dollars in Thousands): Total capital was $366.9 million at June 30, 2026, reflecting an increase of $2.0 million compared to $364.9 million at December 31, 2025. The increase in equity during the first six months of 2026 was primarily attributable to $22.4 million in net income, partially offset by $14.4 million in share repurchases, $6.8 million in cash dividends declared, and a $1.0 million increase in accumulated other comprehensive loss, primarily related to changes in the fair value of investment securities. The remaining difference was related to activity from stock options and restricted stock during the year. Asset Quality Total nonperforming assets, comprised of nonperforming loans and foreclosed assets, decreased $4.3 million to $10.5 million at June 30, 2026, from $14.8 million at December 31, 2025. The Company's ratio of nonperforming loans to gross loans improved to 0.43% at June 30, 2026, compared to 0.52% at December 31, 2025. The decline in nonperforming assets was primarily attributable to reductions in nonperforming commercial and agricultural credits, as well as the timely resolution and sale of an OREO asset in March 2026. Management individually evaluates all nonperforming loans for expected credit losses on a quarterly basis and believes the allowance for credit losses established for such loans is appropriate. At June 30, 2026, loans past due 30 to 89 days and still accruing totaled $5.4 million compared to $6.8 million at December 31, 2025. Approximately $4.6 million of this balance related to a single commercial real estate loan that became 30 days past due near the end of the second quarter. Management believes the loan is well secured, with an estimated current loan-to-value ratio of approximately 51%, and therefore does not consider the credit to present a significant loss exposure. The allowance for credit losses on loans increased $2.1 million to $23.6 million at June 30, 2026, compared to $21.5 million at December 31, 2025. The increase was primarily attributable to a $2.5 million reserve on a single agricultural loan, described earlier. Despite the higher allowance balance, asset quality metrics remained strong, with net charge-offs totaling $0.2 million during the first six months of 2026 compared to $6.3 million during the same period in 2025. The allowance for credit losses represented 0.96% of gross loans at June 30, 2026, compared to 0.84% at December 31, 2025. The following tables highlight the coverage ratios by loan category at June 30, 2026, March 31, 2026, and December 31, 2025: Mortgage warehouse balances historically have incurred nominal losses and therefore carry a significantly lower reserve than other loan categories. At June 30, 2026, mortgage warehouse balances totaled $457.5 million and represented approximately 19% of the loan portfolio, while the related allowance was $0.5 million, or 0.11% of outstanding balances. Excluding mortgage warehouse balances and residential real estate loans, the allowance for credit losses as a percentage of gross loans was 1.32% at June 30, 2026, compared to 1.18% at March 31, 2026, and 1.16% at December 31, 2025. The Company's largest loan segment, commercial real estate, continues to maintain a strong reserve coverage ratio of 1.15% at June 30, 2026. The most significant change in reserve levels occurred within the other commercial loan portfolio, where the allowance increased to $4.9 million, or 2.73% of loans, compared to $2.4 million, or 1.36%, at March 31, 2026. The increase primarily reflects an increase in specific reserves discussed above as well as changes in portfolio composition and management's assessment of credit risk within the segment. Management's detailed analysis indicates that the Company's allowance for credit losses on loans should be sufficient to cover credit losses for the life of the loans outstanding as of June 30, 2026, but no assurance can be given that the Company will not experience substantial future losses relative to the size of the loan and lease loss allowance. The Company calculates the allowance for credit losses using a combination of quantitative and qualitative factors by call report category. About Sierra Bancorp Sierra Bancorp is the holding Company for Bank of the Sierra (www.bankofthesierra.com), which is in its 49th year of operations and strives to be the preeminent bank headquartered in the South San Joaquin Valley. Bank of the Sierra offers a broad range of retail and commercial banking services through its 34 full-service branches located within the counties of Tulare, Kern, Kings, Fresno, Ventura, San Luis Obispo, and Santa Barbara. The Bank also maintains an online branch and provides specialized lending services through its mortgage warehouse division. Bank of the Sierra is recognized as one of the strongest and top-performing community banks in the country, with a 5-star rating from Bauer Financial. Forward-Looking Statements The statements contained in this release that are not historical facts are forward-looking statements based on management's current expectations and beliefs concerning future de­velopments and their potential effects on the Company. Readers are cautioned not to unduly rely on forward looking statements. Actual results may differ from those projected. These forward-looking statements involve risks and uncertainties including but not limited to the health of the national and local economies, loan portfolio performance, the Company's ability to attract and retain skilled employees, customers' service expectations, the Company's ability to successfully de­ploy new technology, the success of acquisitions and branch expansion, changes in interest rates, and other factors detailed in the Company's SEC filings, including the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recent Form 10‑K and Form 10‑Q. Category: FinancialSource: Sierra Bancorp View source version on businesswire.com: https://www.businesswire.com/news/home/20260727470201/en/ Contacts Kevin McPhaill, President/CEO(559) 782‑4900 or (888) 454‑BANKwww.sierrabancorp.com

For the quarter ended June 2026, Sierra Bancorp (BSRR) reported revenue of $38.98 million, down 0.6% over the same period last year. EPS came in at $0.77, compared to $0.78 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $39.3 million, representing a surprise of -0.81%. The company delivered an EPS surprise of -13.48%, with the consensus EPS estimate being $0.89. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Sierra Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Net Interest Margin: 3.7% compared to the 3.7% average estimate based on three analysts. Efficiency ratio (tax-equivalent): 58.9% compared to the 56.5% average estimate based on three analysts. Total Non-performing loans: $10.54 million compared to the $10.1 million average estimate based on two analysts. Net Charge-Offs (% of Average Loans): 0% versus the two-analyst average estimate of 0.1%. Average Interest-Earning Assets: $3.31 billion versus $3.43 billion estimated by two analysts on average. Total Nonperforming Assets: $10.54 million versus $10.1 million estimated by two analysts on average. Total non-interest income: $8.57 million versus $7.47 million estimated by three analysts on average. Net Interest Income: $30.41 million compared to the $31.63 million average estimate based on two analysts. View all Key Company Metrics for Sierra Bancorp here>>> Shares of Sierra Bancorp have returned +2% over the past month versus the Zacks S&P 500 composite's +0.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sierra Bancorp (BSRR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Sierra Bancorp (BSRR) came out with quarterly earnings of $0.77 per share, missing the Zacks Consensus Estimate of $0.89 per share. This compares to earnings of $0.78 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -13.48%. A quarter ago, it was expected that this parent company of Bank of the Sierra would post earnings of $0.82 per share when it actually produced earnings of $0.96, delivering a surprise of +17.07%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Sierra Bancorp, which belongs to the Zacks Banks - West industry, posted revenues of $38.98 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.81%. This compares to year-ago revenues of $39.21 million. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Sierra Bancorp shares have added about 28.2% since the beginning of the year versus the S&P 500's gain of 8.3%. While Sierra Bancorp has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Sierra Bancorp was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.94 on $40.3 million in revenues for the coming quarter and $3.73 on $158.93 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - West is currently in the top 26% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the broader Zacks Finance sector, Boston Properties (BXP), is yet to report results for the quarter ended June 2026. The results are expected to be released on July 28. This real estate investment trust is expected to post quarterly earnings of $1.71 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 0.2% lower over the last 30 days to the current level. Boston Properties' revenues are expected to be $812.49 million, up 0.8% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sierra Bancorp (BSRR) : Free Stock Analysis Report BXP, Inc. (BXP) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

PORTERVILLE, Calif., July 24, 2026--(BUSINESS WIRE)--Sierra Bancorp (Nasdaq: BSRR), parent of Bank of the Sierra, announced that its Board of Directors has declared a regular quarterly cash dividend of $0.27 per share. This represents an increase of $0.01 per share, or 4%, relative to the dividend paid last quarter. The dividend was approved subsequent to the Board’s review of the Company’s financial performance and capital for the quarter ended June 30, 2026, and will be paid on August 10, 2026, to shareholders of record as of August 3, 2026. Counting dividends paid by Bank of the Sierra prior to the formation of Sierra Bancorp, the Company has paid regular cash dividends to shareholders every year since 1987, comprised of annual dividends through 1998 and quarterly dividends thereafter. The dividend noted in today’s announcement marks the Company’s 110th consecutive quarterly cash dividend. Sierra Bancorp is the holding Company for Bank of the Sierra (www.bankofthesierra.com), which is in its 49th year of operations and strives to be the preeminent bank headquartered in the South San Joaquin Valley. Bank of the Sierra offers a broad range of retail and commercial banking services through its 34 full-service branches located within the counties of Tulare, Kern, Kings, Fresno, Ventura, San Luis Obispo, and Santa Barbara. The Bank also maintains an online branch and provides specialized lending services through its mortgage warehouse division. Bank of the Sierra is recognized as one of the strongest and top-performing community banks in the country, with a 5-star rating from Bauer Financial. Forward-Looking Statements The statements contained in this release that are not historical facts are forward-looking statements based on management's current expectations and beliefs concerning future developments and their potential effects on the Company. Readers are cautioned not to unduly rely on forward looking statements. Actual results may differ from those projected. These forward-looking statements involve risks and uncertainties including but not limited to the health of the national and local economies, loan portfolio performance, the Company's ability to attract and retain skilled employees, customers' service expectations, the Company's ability to successfully deploy new technology, the success of acquisitions and branch expansion, changes in interest rates, and other factors detailed in the Company's SEC filings, including the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recent Form 10‑K and Form 10‑Q. Category: FinancialSource: Sierra Bancorp View source version on businesswire.com: https://www.businesswire.com/news/home/20260724777748/en/ Contacts Kevin McPhaill, President/Chief Executive OfficerPhone: (559) 782-4900 or (888) 454-BANKWebsite Address: www.sierrabancorp.com

Cathay General (CATY) came out with quarterly earnings of $1.37 per share, beating the Zacks Consensus Estimate of $1.33 per share. This compares to earnings of $1.1 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +3.01%. A quarter ago, it was expected that this holding company for Cathay Bank would post earnings of $1.19 per share when it actually produced earnings of $1.29, delivering a surprise of +8.4%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Cathay, which belongs to the Zacks Banks - West industry, posted revenues of $222.3 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.89%. This compares to year-ago revenues of $196.61 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Cathay shares have added about 28.3% since the beginning of the year versus the S&P 500's gain of 9.7%. While Cathay has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Cathay was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.34 on $223.68 million in revenues for the coming quarter and $5.42 on $882.63 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - West is currently in the top 19% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Sierra Bancorp (BSRR), has yet to report results for the quarter ended June 2026. This parent company of Bank of the Sierra is expected to post quarterly earnings of $0.89 per share in its upcoming report, which represents a year-over-year change of +14.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Sierra Bancorp's revenues are expected to be $39.3 million, up 0.2% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cathay General Bancorp (CATY) : Free Stock Analysis Report Sierra Bancorp (BSRR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Sierra Bancorp (BSRR) came out with quarterly earnings of $0.96 per share, beating the Zacks Consensus Estimate of $0.82 per share. This compares to earnings of $0.65 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +17.07%. A quarter ago, it was expected that this parent company of Bank of the Sierra would post earnings of $0.85 per share when it actually produced earnings of $0.97, delivering a surprise of +14.12%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Sierra Bancorp, which belongs to the Zacks Banks - West industry, posted revenues of $38.58 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 2.66%. This compares to year-ago revenues of $36.75 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Sierra Bancorp shares have added about 11% since the beginning of the year versus the S&P 500's gain of 4.7%. While Sierra Bancorp has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Sierra Bancorp was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.86 on $40.33 million in revenues for the coming quarter and $3.56 on $162.83 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - West is currently in the top 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Coastal Financial Corporation (CCB), has yet to report results for the quarter ended March 2026. This company is expected to post quarterly earnings of $1.02 per share in its upcoming report, which represents a year-over-year change of +61.9%. The consensus EPS estimate for the quarter has been revised 0.4% higher over the last 30 days to the current level. Coastal Financial Corporation's revenues are expected to be $148.7 million, up 6.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sierra Bancorp (BSRR) : Free Stock Analysis Report Coastal Financial Corporation (CCB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

PORTERVILLE, Calif., April 27, 2026--(BUSINESS WIRE)--Sierra Bancorp (Nasdaq: BSRR), parent of Bank of the Sierra, today announced its unaudited financial results for the quarter ended March 31, 2026. Sierra Bancorp reported consolidated net income of $12.5 million, or $0.96 per diluted share, for the first quarter of 2026 compared to $9.1 million, or $0.65 per diluted share, in the first quarter of 2025. Highlights for the First Quarter of 2026 (unless otherwise stated): Strong Quarterly Earnings Metrics Diluted earnings per share increased $0.31, or 47%, from the same quarter in 2025. Return on average assets improved to 1.39% compared to 1.02% for the same quarter in 2025. Return on average equity rose to 13.88% compared to 10.44% for the same quarter in 2025. Focus on Profitability Net interest margin increased to 3.75% as compared to 3.74% in the first quarter of 2025. Annualized noninterest income to average assets improved to 0.88% as compared to 0.75% in the first quarter of 2025. Efficiency ratio (1) improved to 56.45% as compared to 60.62% in the same quarter in 2025 with overall expenses declining 2.6% as compared to the same period in 2025. Growth to our Strong Low-Cost Deposit Base Total deposits increased $75.9 million, or 3%, as compared to March 31, 2025. Excluding brokered deposits, deposits increased $49.1 million, or 2%, from the prior linked quarter. Noninterest-bearing deposits of $1.03 billion at March 31, 2026, represent 35% of total deposits. Cost of funds declined to 1.33% in the first quarter of 2026 as compared to 1.46% in the same quarter in 2025. Uninsured deposits are approximately 24% of total deposit balances. Stable Capital and Liquidity Increased Tangible Book Value (1) per share by 1% to $25.69 per share during the quarter. The Community Bank Leverage Ratio increased to 12.05% for our subsidiary bank as compared to 11.94% as of December 31, 2025. Repurchased 263,632 shares during the quarter, or 2% of shares outstanding at December 31, 2025. Declared dividend of $0.26 per share, payable on May 11, 2026. Wholesale funding, including brokered deposits, is used primarily to fund the mortgage warehouse business line which provides a strong match of duration. Overall primary and secondary liquidity sources of $2.1 billion at March 31, 2026. Primary liquidity ratio increased to 19.8% at March 31, 2026, from 19.1% at December 31, 2025. "Discipline is the bridge between goals and accomplishment." – Jim Rohn "I am extremely proud to report a strong start to 2026!" stated Kevin McPhaill, CEO and President. "Profitability remains our top strategic priority as shown by our consistently high ROAA of 1.39%. Furthermore, this was our fifth consecutive quarter of improvement to our efficiency ratio, which is directly attributable to ongoing expense management discipline. We have redoubled our community banking efforts within our branch network, resulting in an increase of 2% in core customer deposits during the first quarter. We are extremely proud of these continued strong results, and I believe the remainder of 2026 will further demonstrate our discipline, drive, and commitment to excellence!" concluded Mr. McPhaill. Quarterly Changes (comparisons to the first quarter of 2025) Net income for the first quarter of 2026 increased $3.4 million, or 38%, to $12.5 million. There were favorable changes in every major income statement category, excluding income tax, including a decrease in provision for credit losses of $2.0 million, or 99%, an increase in net interest income of $0.5 million, or 2%, an increase in noninterest income of $1.3 million, or 20%, and a $0.6 million, or 3%, reduction in noninterest expense. Pre-tax pre-provision income(1) was $16.8 million, an increase of $2.4 million, or 17%. Linked Quarter Changes (comparisons to the three months ended December 31, 2025) Net income decreased by $0.4 million, or 3%, due mostly to a decrease of $1.3 million in net interest income and an increase of $0.9 million in the credit loss expense. These unfavorable changes were partially offset by an increase in noninterest income of $0.6 million, or 9%, and a reduction in noninterest expense of $1.2 million, or 5%. The $0.9 million increase in the provision for credit losses was due primarily to a $1.5 million favorable release of individual reserves in the fourth quarter of 2025 from two separate relationships. Noninterest income increased by $0.6 million, due to a special dividend received from the FHLB of $0.4 million and an increase in the annual valuation of bank stocks of $0.6 million. These were partially offset by a decrease in separate account life insurance income of $0.5 million, which is designed to offset deferred compensation. Noninterest expenses declined $1.2 million, mostly due to a $0.7 million favorable variance in deferred compensation expenses, which is mostly offset by changes to separate account life insurance income. Pre-tax pre-provision income(1) increased $0.5 million, or 3%. Balance Sheet Quarterly Changes (comparisons to December 31, 2025) Total assets decreased slightly by 2%, or $74.8 million, to $3.8 billion, during the first three months of 2026, due mostly to a decline in loans. Gross loans decreased $80.1 million, due to a $39.9 million seasonal decrease in mortgage warehouse line utilization coupled with declines in line utilization and new credit extended. Deposits increased by $49.4 million, or 2%. The increase in deposits came from a $56.8 million increase in core customer deposits, partially offset by a $7.7 million decline in customer time deposits. Other financial highlights are reflected in the following table. INCOME STATEMENT HIGHLIGHTS Net Interest Income Net interest income was $30.6 million for the first quarter of 2026, a decrease of $1.3 million, or 4%, compared to the fourth quarter of 2025, and an increase of $0.5 million, or 2%, compared to the first quarter of 2025. The linked‑quarter decrease was driven primarily by lower interest income, partially offset by reduced interest expense. Interest income declined by $2.1 million compared to the linked quarter, due mostly to a $1.9 million decrease in loan interest income, driven in part by two fewer days in the current quarter compared to the prior linked quarter, a $0.8 million decline in mortgage warehouse interest due to seasonality, as well as lower commercial loan utilization, and a decline in average balances of real estate loans. The decline in loan interest was partially offset by a favorable decline in interest expense of $0.7 million in the linked quarter comparison, due to lower rates. Compared to the first quarter of 2025, interest income decreased modestly due to lower yields on investments and changes in balance sheet mix, while interest expense declined primarily due to lower rates on interest‑bearing liabilities, reflecting repricing and improved funding mix, despite a modest increase in average interest‑bearing liability balances. Net interest margin was 3.75% for the first quarter of 2026, compared to 3.79% for the linked quarter and 3.74% for the first quarter of 2025. Compared to the fourth quarter of 2025, the net interest margin declined four basis points, reflecting lower yields on interest‑earning assets, partially offset by continued improvement in funding costs. The yield on average interest‑earning assets declined to 5.04% from 5.12%, driven primarily by lower yields on mortgage warehouse and investments. The cost of interest‑bearing liabilities declined to 1.94%, from 2.03% in the prior quarter, reflecting lower average balances of borrowed funds and proactive management of deposit pricing. Average interest‑earning assets declined $34.7 million from the prior linked quarter, while average interest‑bearing liabilities declined $2.1 million, contributing to the modest compression in margin. Compared to the first quarter of 2025, the net interest margin increased by one basis point, reflecting the benefit of lower funding costs, partially offset by modest pressure on asset yields. The cost of average total deposits declined to 1.17%, from 1.33% in the first quarter of 2025, while the cost of interest‑bearing liabilities declined to 1.94%, from 2.15%, reflecting an improved funding mix, lower average balances of higher‑cost deposits and borrowings, and reduced overall funding costs resulting from the rate cuts in the second half of 2025. These favorable funding cost trends were partially offset by lower yields on investment securities, as assets repriced in a lower rate environment, resulting in overall margin stability year over year. Overall, the Company continues to benefit from improving funding costs, which have largely offset pressure on asset yields, resulting in a stable net interest margin compared to the prior year and only modest compression as compared to the linked quarter. Management expects net interest margin performance to remain influenced by balance sheet mix, investment security reinvestment rates, and the timing of deposit repricing. Credit Loss Expense The Company recorded a provision for credit losses on loans of $0.1 million for the first quarter of 2026, compared to a reserve release of $0.8 million in the fourth quarter of 2025 and a provision of $2.0 million in the first quarter of 2025. The $0.8 million release in allowance for credit losses during the fourth quarter of 2025 was due mostly to the $1.5 million release of specific reserve on loans individually evaluated, partially offset by higher reserve on loans collectively evaluated. The provision recorded during the first quarter of 2026 reflects normal portfolio activity and estimated credit losses, partially offset by net loan charge-offs. Credit loss expense on unfunded loan commitments was a benefit of $0.05 million in the first quarter of 2026, compared to a benefit of $0.08 million in the linked quarter and expense of $0.1 million in the first quarter of 2025, reflecting changes in the level and composition of unfunded commitments. The reason for the decrease in the first quarter of 2026 is due to a decrease in the balance of unfunded commitments in most loan categories and a decline in combined funding and loss rates. The unrealized loss position on the Company’s investment portfolio was attributable to changes in interest rates and volatility in the financial markets and not reflective of expected credit loss. Noninterest Income Noninterest income increased $0.6 million, or 9%, to $8.0 million in the first quarter of 2026, compared to the fourth quarter of 2025. Noninterest income increased $1.3 million, or 20%, compared to the first quarter of 2025. The $1.3 million increase in noninterest income in the first quarter of 2026, as compared to the same quarter in 2025, was due to higher service charge and fee income, an increase in cash surrender value of life insurance due to purchases of additional life insurance in the second quarter of 2025, and other increases related to higher FHLB dividend income and an increase in the fair value of bank stocks. The $0.6 million increase in noninterest income as compared to the fourth quarter of 2025 was driven primarily by a $1.0 million increase in the other noninterest income category, including a $0.4 million special dividend from the FHLB and an increase in value of bank stocks of $0.6 million. These favorable variances were partially offset by a decrease in separate account life insurance income of $0.5 million which is designed to offset deferred compensation, and lower service charges and fees on deposit accounts, which declined $0.3 million, reflecting seasonal trends in business analysis fees and other deposit‑related charges. Although overall service charges and fees on deposit account income declined on a linked-quarter basis, there was a positive increase in the second half of the quarter related to interchange income on debit cards. The Company maintains a non‑qualified deferred compensation plan for officers and directors, under which participants may defer a portion of their earnings and select from various hypothetical investment alternatives to determine their individual returns. The Company economically offsets this liability with separate account life insurance policies that are invested in similar underlying fund types within the life insurance policy. Because the deferred compensation liability and the separate account life insurance asset are not contractually linked, differences in balances, fund performance, and insurance costs can result in temporary timing mismatches between changes in separate account life insurance income and the related deferred compensation expense. During the first quarter of 2026, declines in market values of investments inside the life insurance policy to offset employee and director deferred compensation plan elections resulted in a $0.4 million net loss related to separate account life insurance, while the related deferred compensation liability experienced a $0.6 million benefit as the funds that the plan participants elected declined in value. These offsetting movements reflect market‑driven changes in the underlying investment alternatives and do not represent credit‑ or performance‑related deterioration. The majority of the deferred compensation expense/(benefit) is reported within professional fees, under deferred directors’ fees, as it primarily relates to the deferral of directors’ compensation. Specifically, $0.6 million of deferred compensation benefit was recorded as deferred directors’ fees during the first quarter of 2026. The related tax shortfall associated with the loss connected with separate account life insurance and taxable deferred compensation expense/(benefit) totaled $0.3 million for the quarter. Noninterest Expense Total noninterest expense decreased $1.2 million, or 5%, to $21.8 million in the first quarter of 2026, compared to the fourth quarter of 2025, and decreased $0.6 million, or 3%, compared to the first quarter of 2025. The primary driver of lower noninterest expense in both comparisons was lower deferred compensation expense, reflecting market‑driven changes in the related deferred compensation liability. Excluding the change in deferred compensation, total noninterest expense declined $1.0 million in the first quarter of 2026 as compared to the fourth quarter of 2025. The decrease in deferred compensation expense was mostly offset by lower separate account life insurance income, as declines in market values during the quarter resulted in a loss related to separate account life insurance policies, consistent with the discussion above. These offsetting movements reflect normal market‑related volatility between the separate account life insurance asset and the deferred compensation liability. Salaries and benefits were relatively stable compared to both the linked quarter and the same period last year, with modest period‑to‑period changes primarily related to normal compensation timing and benefit costs. Occupancy expense declined modestly compared to the linked quarter and remained relatively consistent year over year, reflecting disciplined expense management. Other noninterest expense declined compared to both the linked quarter and the prior year, driven primarily by lower deferred directors’ compensation expense/(benefit) and continued cost control across operating expense categories. The Company's effective tax rate was 25.2% in the first quarter of 2026 relative to 24.8% in the fourth quarter of 2025, and 25.8% for the first quarter of 2025. The variances in the effective tax rates are due to fluctuations in tax credits and related amortization, benefits related to employee stock compensation, and tax-exempt income as a percentage of total taxable income. Balance Sheet Summary The $74.8 million decrease in total assets during the first quarter of 2026 was a result of a $13.2 million decrease in investment securities and an $80.1 million decrease in gross loans, partially offset by a $20.8 million increase in cash and due from balances. Investment securities decreased $13.2 million, or 1%, to $903.0 million primarily due to paydowns in the portfolio, which were partially used to pay down other interest-bearing liabilities. Gross loan balances decreased $80.1 million, or 3%, during the first quarter of 2026, reflecting lower mortgage warehouse line utilization, portfolio runoff, changes in commercial line utilization, and lower volumes of new credit extended. Mortgage warehouse balances declined $39.9 million, driven by seasonal activity and early‑quarter paydowns. Excluding mortgage warehouse activity, loan balances declined modestly across several portfolios, including decreases of $9.1 million in commercial real estate loans, $19.9 million in other commercial loans, $9.7 million in residential real estate loans, $2.1 million in farmland loans, and $0.2 million in consumer loans. Other construction loans increased $0.8 million during the quarter. As indicated in the loan rollforward below, new credit extended for the first quarter of 2026 decreased $19.0 million over the linked quarter comparison and $58.6 million over the same period in 2025. For the first three months ended 2026, we had $25.3 million in loan paydowns and maturities, along with a $22.6 million decrease in line of credit utilization, and a $39.9 million decrease in mortgage warehouse utilization. The reduction in new credit extended is primarily due to a strategic shift in our target customer base with a change to increase granularity within the portfolio by focusing more on serving our local communities, as well as expanded commercial real estate lending. It is taking time to refresh the pipeline, but such pipeline had returned to prior quarter levels by the end of March 2026. A summary of the Company’s unfunded commitments and utilization is presented below (dollars in thousands, unaudited): Deposit balances increased $49.4 million, or 2%, during the first quarter of 2026, to $2.9 billion at March 31, 2026. Core non‑maturity deposits increased $56.8 million for the first three months of 2026, reflecting continued growth in customer transaction accounts, while higher-cost customer time deposits declined $7.7 million during the quarter. Noninterest‑bearing deposits totaled $1.03 billion at March 31, 2026, representing 35.2% of total deposits, compared to 34.6% at December 31, 2025, and 36.4% at March 31, 2025. Other interest‑bearing liabilities totaled $185.0 million at March 31, 2026, compared to $302.7 million at December 31, 2025, reflecting a reduction in short‑term borrowings during the quarter. These balances consisted of overnight borrowings of $130.0 million and $55.0 million of term Federal Home Loan Bank advances. Overall uninsured deposits are estimated to be $710.0 million, or 24% of total deposit balances, excluding public agency deposits that are subject to collateralization through a letter of credit issued by the FHLB. In addition, uninsured deposits of the Bank’s customers are eligible for FDIC pass-through insurance if the customer opens an IntraFi Insured Cash Sweep account or a reciprocal time deposit through the Certificate of Deposit Account Registry System (CDARS). IntraFi allows for up to $285 million of combined pass-through FDIC insurance which would more than cover each of the Bank’s deposit customers if such customer desired to have such pass-through insurance. The Bank maintains a diversified deposit base with no significant customer concentrations and does not bank any cryptocurrency companies. At March 31, 2026, the Company had approximately 116,000 accounts and the 25 largest deposit balance customers had balances of approximately 10% of overall deposits. During the first quarter of 2026, except for seasonal fluctuations in the normal course of business, there have been no material changes in the composition of our 25 largest deposit balance customers. The Company continues to have substantial liquidity. At March 31, 2026, and December 31, 2025, the Company had the following sources of primary and secondary liquidity (dollars in thousands, unaudited): Total equity of $363.7 million at March 31, 2026, reflects a decrease of $1.1 million compared to December 31, 2025. The decrease in equity during the first quarter of 2026 was due to $9.5 million in share repurchases, a $3.4 million dividend paid to shareholders, and a $1.8 million unfavorable swing in other comprehensive income/loss due principally to the increase in treasury rates in March and the corresponding decline in our investment securities’ fair value. These changes were partially offset by $12.5 million in net income recorded during the quarter. The remaining difference was related to activity from stock options and restricted stock during the year. Asset Quality Total nonperforming assets, decreased by $4.4 million, or 30%, to $10.4 million, during the first quarter of 2026. The decrease in non-accrual loans was from the successful paydown of the Company’s largest nonaccrual loan. The Company's ratio of nonperforming assets to loans plus foreclosed assets decreased to 0.42% at March 31, 2026, from 0.58% at December 31, 2025. The Company's allowance for credit losses on loans was $21.3 million at March 31, 2026, as compared to $21.5 million at December 31, 2025, and $27.1 million at March 31, 2025. The decrease was primarily attributable to a decrease in the quantitative reserves due to reduced loan balances, partially offset by a $0.5 million increase in the allowance for loans individually evaluated, specifically related to a single agricultural production loan relationship that moved to nonaccrual during the first quarter of 2026. The allowance was 0.86% of total loans at March 31, 2026, 0.84% of total loans at December 31, 2025, and 1.17% of total loans at March 31, 2025. The following tables highlight the coverage ratios by loan category at March 31, 2026, December 31, 2025, and March 31, 2025: Mortgage warehouse made up 19.4% of the total loan balances and continues to have the lowest reserve rate in the allowance for credit losses at 0.13%. Mortgage warehouse lines historically have incurred nominal losses and, therefore, have a significantly lower reserve than the Bank’s other categories of loans. Further, our residential real estate loans are comprised primarily of jumbo residential loans purchased in 2021 and early 2022 with very strong underwriting. Given the underlying strength of this portfolio, the allowance associated with our residential real estate loans was 0.39% at March 31, 2026. The allowance as a percentage of gross loans, exclusive of mortgage warehouse lines and residential mortgage loans, was 1.18% at March 31, 2026, 1.16% at December 31, 2025, and 1.52% at March 31, 2025. The largest loan segment of commercial real estate continues to maintain a coverage ratio at or above 1.16%. Management's detailed analysis indicates that the Company's allowance for credit losses on loans should be sufficient to cover life of loan credit losses on loan portfolio balances outstanding as of March 31, 2026, but no assurance can be given that the Company will not experience substantial future losses in excess of the current allowance for credit losses on loans. About Sierra Bancorp Sierra Bancorp is the holding Company for Bank of the Sierra (www.bankofthesierra.com), which is in its 49th year of operations and strives to be the preeminent bank headquartered in the South San Joaquin Valley. Bank of the Sierra offers a broad range of retail and commercial banking services through its 34 full-service branches located within the counties of Tulare, Kern, Kings, Fresno, Ventura, San Luis Obispo, and Santa Barbara. The Bank also maintains an online branch and provides specialized lending services through its mortgage warehouse division. In 2025, Bank of the Sierra was recognized as one of the strongest and top-performing community banks in the country, with a 5-star rating from Bauer Financial. Forward-Looking Statements The statements contained in this release that are not historical facts are forward-looking statements based on management's current expectations and beliefs concerning future developments and their potential effects on the Company. Readers are cautioned not to unduly rely on forward looking statements. Actual results may differ from those projected. These forward-looking statements involve risks and uncertainties including but not limited to the health of the national and local economies, loan portfolio performance, the Company's ability to attract and retain skilled employees, customers' service expectations, the Company's ability to successfully deploy new technology, the success of acquisitions and branch expansion, changes in interest rates, and other factors detailed in the Company's SEC filings, including the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recent Form 10‑K and Form 10‑Q. Category: Financial Source: Sierra Bancorp View source version on businesswire.com: https://www.businesswire.com/news/home/20260427049172/en/ Contacts Kevin McPhaill, President/CEO (559) 782‑4900 or (888) 454‑BANK www.sierrabancorp.com

Sierra Bancorp (BSRR) reported $38.58 million in revenue for the quarter ended March 2026, representing a year-over-year increase of 5%. EPS of $0.96 for the same period compares to $0.65 a year ago. The reported revenue represents a surprise of -2.66% over the Zacks Consensus Estimate of $39.63 million. With the consensus EPS estimate being $0.82, the EPS surprise was +17.07%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Sierra Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Net Interest Margin: 3.8% versus the four-analyst average estimate of 3.8%. Efficiency ratio (tax-equivalent): 56.5% versus the four-analyst average estimate of 58.8%. Net Charge-Offs (% of Average Loans): 0% versus 0.2% estimated by three analysts on average. Average Interest-Earning Assets: $3.35 billion versus $3.48 billion estimated by three analysts on average. Total Nonperforming Assets: $10.41 million versus the three-analyst average estimate of $9.75 million. Total Non-performing loans: $10.41 million compared to the $12.62 million average estimate based on two analysts. Total non-interest income: $7.97 million compared to the $7.87 million average estimate based on four analysts. Net Interest Income: $30.61 million compared to the $31.76 million average estimate based on three analysts. View all Key Company Metrics for Sierra Bancorp here>>> Shares of Sierra Bancorp have returned +8.9% over the past month versus the Zacks S&P 500 composite's +9.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sierra Bancorp (BSRR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

PORTERVILLE, Calif., April 24, 2026--(BUSINESS WIRE)--Sierra Bancorp (Nasdaq: BSRR), parent of Bank of the Sierra, announced that its Board of Directors has declared a regular quarterly cash dividend of $0.26 per share. The dividend was approved subsequent to the Board’s review of the Company’s financial performance and capital for the quarter ended March 31, 2026, and will be paid on May 11, 2026, to shareholders of record as of May 4, 2026. Counting dividends paid by Bank of the Sierra prior to the formation of Sierra Bancorp, the Company has paid regular cash dividends to shareholders every year since 1987, comprised of annual dividends through 1998 and quarterly dividends thereafter. The dividend noted in today’s announcement marks the Company’s 109th consecutive quarterly cash dividend. Sierra Bancorp is the holding Company for Bank of the Sierra (www.bankofthesierra.com), which is in its 49th year of operations and strives to be the preeminent bank headquartered in the South San Joaquin Valley. Bank of the Sierra offers a broad range of retail and commercial banking services through its 34 full-service branches located within the counties of Tulare, Kern, Kings, Fresno, Ventura, San Luis Obispo, and Santa Barbara. The Bank also maintains an online branch and provides specialized lending services through its mortgage warehouse division. In 2025, Bank of the Sierra was recognized as one of the strongest and top-performing community banks in the country, with a 5-star rating from Bauer Financial. Forward-Looking Statements The statements contained in this release that are not historical facts are forward-looking statements based on management's current expectations and beliefs concerning future developments and their potential effects on the Company. Readers are cautioned not to unduly rely on forward looking statements. Actual results may differ from those projected. These forward-looking statements involve risks and uncertainties including but not limited to the health of the national and local economies, loan portfolio performance, the Company's ability to attract and retain skilled employees, customers' service expectations, the Company's ability to successfully deploy new technology, the success of acquisitions and branch expansion, changes in interest rates, and other factors detailed in the Company's SEC filings, including the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recent Form 10‑K and Form 10‑Q. Category: Financial Source: Sierra Bancorp View source version on businesswire.com: https://www.businesswire.com/news/home/20260424509241/en/ Contacts Kevin McPhaill, President/Chief Executive Officer Phone: (559) 782-4900 or (888) 454-BANK Website Address: www.sierrabancorp.com

Investors in Sierra Bancorp (NASDAQ:BSRR) had a good week, as its shares rose 9.8% to close at US$37.92 following the release of its annual results. Results look mixed - while revenue fell marginally short of analyst estimates at US$149m, statutory earnings beat expectations 3.1%, with Sierra Bancorp reporting profits of US$3.11 per share. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. Following the latest results, Sierra Bancorp's four analysts are now forecasting revenues of US$163.4m in 2026. This would be a meaningful 9.5% improvement in revenue compared to the last 12 months. Per-share earnings are expected to swell 11% to US$3.60. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$163.1m and earnings per share (EPS) of US$3.40 in 2026. The analysts seems to have become more bullish on the business, judging by their new earnings per share estimates. View our latest analysis for Sierra Bancorp The consensus price target rose 17% to US$39.67, suggesting that higher earnings estimates flow through to the stock's valuation as well. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. Currently, the most bullish analyst values Sierra Bancorp at US$44.00 per share, while the most bearish prices it at US$36.00. With such a narrow range of valuations, the analysts apparently share similar views on what they think the business is worth. Of course, another way to look at these forecasts is to place them into context against the industry itself. The analysts are definitely expecting Sierra Bancorp's growth to accelerate, with the forecast 9.5% annualised growth to the end of 2026 ranking favourably alongside historical growth of 2.5% per annum over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 8.7% annually. Sierra Bancorp is expected to grow at about the same rate as its industry, so it's not clear that we can draw any conclusions from its growth relative to competitors. The most important thing here is that the analysts upgraded their earnings per share estimates, suggesting that there has been a clear increase in optimism towards Sierra Bancorp following these results. They also reconfirmed their revenue estimates, with the company predicted to grow at about the same rate as the wider industry. There was also a nice increase in the price target, with the analysts clearly feeling that the intrinsic value of the business is improving. With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have estimates - from multiple Sierra Bancorp analysts - going out to 2027, and you can see them free on our platform here. It might also be worth considering whether Sierra Bancorp's debt load is appropriate, using our debt analysis tools on the Simply Wall St platform, here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.