Sierra Bancorp (BSRR) Bundle
A Brief History of Sierra Bancorp (BSRR)
Formation and Initial Public Offering
Sierra Bancorp was founded in 2000 as the holding company for the Bank of the Sierra, which was established in 1978. The IPO occurred on March 15, 2002, with shares initially priced at $10.00.
Acquisitions and Growth
Over the years, Sierra Bancorp expanded its footprint through strategic acquisitions. Notable acquisitions include:
- In 2006, the acquisition of the Bank of Los Banos.
- In 2011, the acquisition of the FNB Bancorp, which added several branches in the central California region.
- In 2019, the acquisition of the assets of the failed First NBC Bank.
Financial Performance
As of the end of 2022, Sierra Bancorp reported total assets of approximately $1.7 billion. The bank's net income for the year was $20.4 million, reflecting a return on average assets (ROAA) of 1.26%.
| Year | Total Assets ($ Billion) | Net Income ($ Million) | ROAA (%) |
|---|---|---|---|
| 2019 | 1.3 | 16.2 | 1.23 |
| 2020 | 1.4 | 17.5 | 1.21 |
| 2021 | 1.6 | 18.9 | 1.20 |
| 2022 | 1.7 | 20.4 | 1.26 |
Market Presence
Sierra Bancorp operates 36 branches across California, primarily focused on the Central Valley region. The bank offers a variety of financial products including:
- Commercial and personal loans
- Deposit services
- Wealth management
Recent Developments
In 2023, Sierra Bancorp announced a strategic focus on digital banking, investing $5 million in technology upgrades. The aim is to enhance customer experience and streamline operations.
Stock Performance
As of October 2023, Sierra Bancorp's stock price was approximately $23.50 per share, with a market capitalization around $350 million.
| Time Period | Stock Price ($) | Market Capitalization ($ Million) | Dividend Yield (%) |
|---|---|---|---|
| 2021 | 20.00 | 300 | 2.5 |
| 2022 | 22.00 | 330 | 2.7 |
| 2023 | 23.50 | 350 | 2.9 |
A Who Owns Sierra Bancorp (BSRR)
Overview of Ownership
Overview of Ownership
Sierra Bancorp, the holding company for Sierra National Bank, has a diversified ownership structure predominantly involving institutional and retail investors. As of the latest data, the following details represent ownership distributions:
| Owner Type | Percentage Owned |
|---|---|
| Institutional Investors | 55.0% |
| Insider Ownership | 4.7% |
| Retail Investors | 40.3% |
Major Institutional Holders
Institutional investment in Sierra Bancorp is significant and includes various asset management firms and other financial institutions. Below is a list of the top institutional holders:
| Institution | Shares Held | Percentage of Total Shares |
|---|---|---|
| BlackRock, Inc. | 415,000 | 18.0% |
| Dimensional Fund Advisors LP | 320,000 | 14.0% |
| The Vanguard Group, Inc. | 300,000 | 13.0% |
Insider Ownership
Insider ownership provides insight into the confidence that management has in the future of Sierra Bancorp. Key executives and board members hold a significant stake:
| Name | Position | Shares Held |
|---|---|---|
| Kevin D. McCormick | CEO | 25,000 |
| James D. Darby | Chairman | 20,000 |
| Barbara J. Lawrence | CFO | 15,000 |
Recent Changes in Ownership
Ownership dynamics can change due to market activity. Here are some recent transactions that have affected ownership levels:
- BlackRock increased its stake in Q2 2023, acquiring an additional 50,000 shares.
- Dimensional Fund Advisors reduced its holdings by 30,000 shares in Q3 2023.
- Vanguard has maintained its position without significant changes in the last year.
Market Capitalization
The market capitalization of Sierra Bancorp as of the end of Q3 2023 stands at:
| Metric | Value |
|---|---|
| Market Capitalization | $200 million |
| Share Price (as of 10/01/2023) | $28.00 |
| Outstanding Shares | 7.14 million |
Historical Stock Performance
Understanding historical performance can also provide insights into ownership trends:
| Year | Closing Price | Annual Return |
|---|---|---|
| 2020 | $20.00 | 15.0% |
| 2021 | $22.50 | 12.5% |
| 2022 | $25.00 | 11.1% |
| 2023 (as of 10/01) | $28.00 | 12.0% |
Sierra Bancorp (BSRR) Mission Statement
Overview
Overview
Sierra Bancorp’s mission statement reflects its commitment to providing exceptional financial services while fostering strong relationships with its customers and community. The focus is on customer-centric banking solutions that emphasize integrity, community development, and financial growth.
Key Elements of the Mission Statement
- Commitment to Customer Service
- Community Involvement and Development
- Integrity and Trust in Transactions
- Financial Responsiveness and Innovation
Financial Performance Indicators
As of September 30, 2023, Sierra Bancorp reported the following key financial metrics:
| Metric | Value |
|---|---|
| Total Assets | $1.1 billion |
| Net Income | $8.5 million |
| Return on Assets (ROA) | 0.77% |
| Return on Equity (ROE) | 9.29% |
| Net Interest Margin | 3.73% |
Community Engagement
Sierra Bancorp actively invests in its local communities. Recent philanthropic initiatives include:
- $500,000 donated to local charities in 2022
- Support for over 100 community events
- Partnerships with local educational institutions for financial literacy programs
Strategic Goals
The strategic goals outlined by Sierra Bancorp in line with its mission statement include:
- Expanding digital banking services to enhance customer experience
- Increasing loan portfolio by 10% annually
- Improving customer satisfaction scores to exceed 90%
Recent Developments
In 2023, Sierra Bancorp launched new financial products aimed at enhancing accessibility for small businesses, including:
- Business Line of Credit with rates starting at 4.25%
- Commercial real estate loans offering up to 75% loan-to-value
Employee Engagement and Culture
The bank prides itself on its employee engagement initiatives. Key statistics include:
| Metric | Value |
|---|---|
| Employee Satisfaction Rate | 85% |
| Training Hours per Employee | 40 hours annually |
| Diversity and Inclusion Index | 75% |
Conclusion
Sierra Bancorp’s mission is a guiding principle that underpins its operations, emphasizing growth, responsibility, and community engagement.
How Sierra Bancorp (BSRR) Works
Company Overview
Company Overview
Sierra Bancorp, a bank holding company, operates through its wholly-owned subsidiary, Sierra National Bank. As of the latest financial reports, Sierra Bancorp serves clients primarily in California’s San Joaquin Valley. The company focuses on providing a range of financial services including personal banking, business banking, and investment services.
Key Financial Metrics
As of the second quarter of 2023, Sierra Bancorp reported key financial metrics reflecting its operational performance:
| Metric | Amount |
|---|---|
| Total Assets | $1.2 billion |
| Total Liabilities | $1.1 billion |
| Total Equity | $120 million |
| Net Income (Q2 2023) | $3.5 million |
| Loan Portfolio | $800 million |
| Deposits | $1.0 billion |
| Return on Equity (ROE) | 11.5% |
| Return on Assets (ROA) | 0.75% |
Business Segments
Sierra Bancorp operates through several business segments:
- Consumer Banking
- Commercial Banking
- Mortgage Banking
- Wealth Management
Consumer Banking
The consumer banking segment provides savings accounts, checking accounts, and personal loans. The average interest rate on savings accounts as of Q2 2023 stands at 0.25%.
Commercial Banking
In the commercial banking sector, Sierra Bancorp offers various services including business loans and lines of credit, with an average loan interest rate of 4.5%.
Mortgage Banking
The mortgage banking segment focuses on residential loans, with a portfolio totaling approximately $250 million. The average mortgage interest rate is around 3.75%.
Wealth Management
Wealth management services include investment management and financial planning. As of the latest reports, assets under management totaled $200 million.
Market Performance
Sierra Bancorp's stock performance is a crucial aspect of its operation. As of October 2023, the stock price was reported at $24.50 per share. The company has a market capitalization of approximately $150 million.
| Stock Data | Value |
|---|---|
| Share Price | $24.50 |
| Market Capitalization | $150 million |
| P/E Ratio | 12.3 |
| 52-Week Range | $22.00 - $27.00 |
| Dividend Yield | 2.1% |
Risk Management
Risk management is a fundamental part of Sierra Bancorp's operations. The bank employs various strategies to mitigate credit risk, including rigorous loan underwriting and monitoring processes.
Recent Developments
In 2023, Sierra Bancorp announced a plan to expand its branch network by 15%, aiming to enhance its customer service and accessibility in underserved markets.
How Sierra Bancorp (BSRR) Makes Money
Overview of Revenue Streams
Sierra Bancorp (BSRR), the parent company of Sierra Bank, primarily generates revenue through interest income, non-interest income, and various banking services.
Interest Income
Interest income is a significant portion of Sierra Bancorp's revenue. As of the most recent fiscal year, Sierra Bancorp reported total interest income of approximately $55 million.
Loan Portfolio
The bank's loan portfolio is a major contributor to interest income. Here are the details of the loan composition:
| Loan Type | Amount (in millions) | % of Total Loans |
|---|---|---|
| Commercial Loans | $200 | 50% |
| Residential Mortgages | $120 | 30% |
| Consumer Loans | $50 | 12.5% |
| Other Loans | $30 | 7.5% |
Non-Interest Income
In addition to interest income, Sierra Bancorp generates revenue through non-interest income. For the latest fiscal year, non-interest income totaled approximately $20 million.
Service Fees and Commissions
Service fees and commissions represent a key component of non-interest income. In detail:
| Source | Amount (in millions) |
|---|---|
| Service Charges on Deposit Accounts | $8 |
| ATM Fees | $3 |
| Loan Servicing Fees | $5 |
| Other Non-interest Income | $4 |
Investment Income
Investment income also contributes to overall revenue. Sierra Bancorp reported investment income of $3 million in the latest period.
Expenses and Profitability
Managing expenses is crucial for maintaining profitability. Total expenses for Sierra Bancorp were approximately $40 million, resulting in a net income of around $25 million for the fiscal year.
Growth Strategy and Future Revenue Potential
Sierra Bancorp's growth strategy includes expanding its loan offerings and improving fee-based services to enhance revenue. The bank aims to increase its loan portfolio by 10% annually and diversify its non-interest income sources.
Conclusion
While no conclusion will be provided, Sierra Bancorp continues to focus on optimizing its revenue streams through effective management of both interest and non-interest income sources.
Sierra Bancorp (BSRR) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support