Sierra Bancorp is a California corporation, and is a registered bank holding company under federal banking laws. It was formed to serve as the holding company for Bank of the Sierra (the “Bank”), and has been the Bank’s sole shareholder since August 2001. At the present time, Sierra Bancorp’s only other subsidiaries are Sierra Statutory Trust II and Sierra Capital Trust III, which were formed in March 2004 and June 2006, respectively, solely to facilitate the issuance of trust-preferred securities. The Bank offers a full range of retail and commercial banking services primarily to communities in Tulare, Kern, Fresno, Kings Counties and, in Southern California. It currently operates 28 full service branches and an internet branch.

Type
Public
HQ
Porterville, US
Founded
1977
Size (employees)
400 (est)
Sierra Bancorp was founded in 1977 and is headquartered in Porterville, US
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Sierra Bancorp Office Locations

Sierra Bancorp has an office in Porterville
Porterville, US (HQ)
86 North Main Street
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Sierra Bancorp Financials and Metrics

Sierra Bancorp Financials

Sierra Bancorp's revenue was reported to be $87.74 m in FY, 2016 which is a 39.9% increase from the previous period.
USD

Revenue (Q1, 2018)

28.6 m

Gross profit (Q1, 2018)

26.9 m

Gross profit margin (Q1, 2018), %

94%

Net income (Q1, 2018)

6.7 m

EBIT (Q1, 2018)

21.6 m

Market capitalization (23-May-2018)

440.6 m

Closing share price (23-May-2018)

28.9

Cash (31-Mar-2018)

56.2 m

EV

390.1 m
Sierra Bancorp's current market capitalization is $440.6 m.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

68.8 m71 m62.7 m87.7 m

Revenue growth, %

3%(12%)40%

Cost of goods sold

3.2 m2.8 m2.6 m3.3 m5.2 m

Gross profit

65.6 m68.2 m60.1 m84.4 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Revenue

20.3 m19.8 m20.3 m20.5 m22.8 m23 m24.4 m28.6 m

Cost of goods sold

651 k647 k718 k739 k887 k1 m1.2 m1.7 m

Gross profit

19.7 m19.1 m19.6 m19.8 m21.9 m22 m23.2 m26.9 m

Gross profit Margin, %

97%97%96%96%96%96%95%94%
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

78 m50.1 m48.6 m120.4 m70.1 m

Accounts Receivable

Inventories

PP&E

20.4 m21.9 m22 m28.9 m29.4 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Cash

48.7 m45.4 m44.8 m37.2 m40.7 m45.4 m45.7 m42.8 m51.6 m56.9 m54.3 m64.4 m56.2 m

PP&E

20.5 m21.2 m20.8 m21 m21.7 m22.3 m22.2 m22.2 m22.4 m28.8 m29 m28.4 m29.1 m

Goodwill

5.5 m5.5 m5.5 m5.5 m6.9 m6.9 m6.9 m6.9 m6.9 m7.9 m8.3 m8.3 m27.4 m

Total Assets

1.4 b1.5 b1.5 b1.5 b1.7 b1.7 b1.7 b1.8 b1.8 b2 b2 b2.1 b2.4 b
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

13.4 m15.2 m18.1 m17.6 m19.5 m

Depreciation and Amortization

2.1 m2.1 m2.3 m2.6 m3 m

Inventories

Accounts Payable

Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Net Income

9.5 m3.8 m8 m11.6 m3.7 m8.3 m12.7 m4 m8.1 m12.1 m4.6 m9.8 m6.7 m

Depreciation and Amortization

1.6 m506 k1 m1.6 m561 k1.1 m1.7 m598 k1.2 m1.9 m719 k1.5 m785 k

Cash From Operating Activities

25.2 m4.8 m16.8 m21.4 m(2.4 m)11.7 m16.3 m5.6 m10.2 m16.4 m8 m10.8 m8 m

Purchases of PP&E

(120.4 m)(41.9 m)(78.4 m)(111.4 m)(44.4 m)(67.8 m)(97.9 m)(38.7 m)(70.7 m)(103.3 m)(59.5 m)(114.6 m)(36.8 m)
USDY, 2018

EV/EBIT

18.1 x

EV/CFO

48.5 x

Financial Leverage

9.3 x
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Sierra Bancorp Operating Metrics

Sierra Bancorp's Total Loans was reported to be $1.3b in Q2, 2017.
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017

Non-performing Loans

$20.68 m$19.77 m$17.11 m$14.88 m$9.63 m$7.49 m$5.94 m$6.29 m$6.37 m$5.93 m$5.65 m

Total Loans

$970.65 m$1.07 b$1.07 b$1.05 b$1.13 b$1.09 b$1.16 b$1.26 b$1.26 b$1.24 b$1.30 b
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