Sierra Bancorp

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 is a California state-chartered bank headquartered in Porterville, California, which opened for business in January 1978 and has become the largest independent bank headquartered in the South San Joaquin Valley. The Bank offers a full range of retail and commercial banking services primarily to communities in Tulare, Kern, Fresno, and Kings Counties, and, in Southern California, the rich agricultural corridor stretching from Santa Paula to Santa Clarita. It currently operates 28 full service branches and an internet branch, and has specialized lending units which include a real estate industries center, an agricultural credit center, and an SBA lending unit. The Bank’s growth has primarily been organic, but includes two acquisitions: Sierra National Bank in 2000, and Santa Clara Valley Bank in 2014.

Company Growth (employees)
Type
Public
HQ
Porterville, US
Founded
1977
Size (employees)
400 (est)+14%
Sierra Bancorp was founded in 1977 and is headquartered in Porterville, US

Sierra Bancorp Office Locations

Sierra Bancorp has an office in Porterville
Porterville, US (HQ)
86 N Main St

Sierra Bancorp Data and Metrics

Sierra Bancorp Financial Metrics

Sierra Bancorp's revenue was reported to be $23 m in Q1, 2017
USD

Revenue (Q1, 2017)

23 m

Gross profit (Q1, 2017)

22 m

Gross profit margin (Q1, 2017), %

96%

Net income (Q1, 2017)

4.6 m

EBIT (Q1, 2017)

16.9 m

Market capitalization (15-Aug-2017)

366.1 m

Cash (31-Mar-2017)

54.3 m
Sierra Bancorp's current market capitalization is $366.1 m.
USDFY, 2013FY, 2014FY, 2015FY, 2016

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 m

Gross profit

65.6 m68.2 m60.1 m84.4 m

Gross profit Margin, %

95%96%96%96%

Operating expense total

44.8 m46.4 m50.7 m58.1 m

EBIT

44.2 m52 m60.1 m65.2 m

EBIT margin, %

64%73%96%74%

Interest expense

3.2 m2.8 m

Interest income

48.6 m52.3 m60.1 m65.2 m

Pre tax profit

16.5 m21.4 m27.1 m26.4 m

Income tax expense

3.1 m6.2 m9.1 m8.8 m

Net Income

13.4 m15.2 m18.1 m17.6 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Revenue

20.3 m19.8 m20.3 m20.5 m22.8 m23 m

Cost of goods sold

651 k647 k718 k739 k887 k1 m

Gross profit

19.7 m19.1 m19.6 m19.8 m21.9 m22 m

Gross profit Margin, %

97%97%96%96%96%96%

Sales and marketing expense

6.1 m5.9 m6.9 m6.6 m6.9 m7.9 m

General and administrative expense

1.7 m1.8 m1.8 m1.9 m2.1 m2.3 m

Operating expense total

7.8 m7.7 m8.6 m8.5 m8.9 m10.2 m

EBIT

15 m14.9 m15.3 m15.2 m16.9 m16.9 m

EBIT margin, %

74%75%75%74%74%73%

Pre tax profit

6.9 m6.9 m6.1 m6.1 m5.8 m6.3 m

Income tax expense

2.4 m2.4 m2.1 m2 m1.8 m1.8 m

Net Income

8 m11.6 m3.7 m8.3 m12.7 m4 m8.1 m12.1 m4.6 m
USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

78 m50.1 m48.6 m120.4 m

PP&E

20.4 m21.9 m22 m28.9 m

Goodwill

5.5 m6.9 m6.9 m8.3 m

Total Assets

1.4 b1.6 b1.8 b2 b

Accounts Payable

1.7 b

Total Debt

36.9 m32.9 m65 m

Total Liabilities

1.8 b

Additional Paid-in Capital

2.6 m2.6 m2.7 m2.8 m

Retained Earnings

112.8 m116 m122.7 m132.2 m

Total Equity

181.7 m187.1 m190.3 m205.9 m

Debt to Equity Ratio

0.2 x0.2 x0.3 x

Debt to Assets Ratio

0 x0 x0 x

Financial Leverage

7.8 x8.8 x9.4 x9.9 x
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Cash

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

PP&E

20.8 m21 m21.7 m22.3 m22.2 m22.2 m22.4 m28.8 m29 m

Goodwill

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

Total Assets

1.5 b1.5 b1.7 b1.7 b1.7 b1.8 b1.8 b2 b2 b

Accounts Payable

1.2 b1.2 b1.4 b1.5 b1.4 b1.5 b1.5 b1.6 b1.7 b

Additional Paid-in Capital

2.5 m2.5 m2.6 m2.7 m2.7 m2.8 m2.8 m2.8 m3.1 m

Retained Earnings

115.6 m115.7 m117.5 m117.8 m118.8 m125.1 m127.6 m128.7 m134.8 m

Total Equity

186.9 m186.2 m188.5 m186.1 m187.1 m194.3 m198.3 m208.5 m210.4 m

Financial Leverage

8 x8 x9.2 x9.3 x9.2 x9.1 x9.3 x9.5 x9.5 x
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

13.4 m15.2 m18.1 m17.6 m

Depreciation and Amortization

2.1 m2.1 m2.3 m2.6 m

Cash From Operating Activities

34.5 m28.5 m29.8 m17.5 m

Purchases of PP&E

(160.3 m)(150.5 m)(136.5 m)(138.7 m)

Cash From Investing Activities

20.6 m(144.7 m)(171.1 m)(23.3 m)

Dividends Paid

(3.7 m)(4.8 m)(5.7 m)(6.5 m)

Cash From Financing Activities

(39 m)88.3 m139.8 m77.6 m

Interest Paid

3.3 m2.8 m2 m3.4 m

Income Taxes Paid

1.8 m6.4 m4.9 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

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

Depreciation and Amortization

1 m1.6 m561 k1.1 m1.7 m598 k1.2 m1.9 m719 k

Cash From Operating Activities

16.8 m21.4 m(2.4 m)11.7 m16.3 m5.6 m10.2 m16.4 m8 m

Purchases of PP&E

(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)

Cash From Investing Activities

(119.9 m)(122.2 m)(99.1 m)(105.9 m)(90.1 m)22.8 m(45.5 m)(25 m)4.2 m

Dividends Paid

(2.3 m)(3.5 m)(1.4 m)(2.7 m)(4.2 m)(1.6 m)(3.2 m)(4.9 m)(1.9 m)

Cash From Financing Activities

73.9 m62.5 m99.3 m90.7 m72.6 m(33 m)39.7 m25.4 m(40 m)
USDY, 2017

Revenue/Employee

65.4 k

Financial Leverage

9.5 x

Sierra Bancorp Market Value History

Traffic Overview of Sierra Bancorp

Sierra Bancorp Online and Social Media Presence

Sierra Bancorp Company Life and Culture

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