Sierra Bancorp: 2Q Earnings Snapshot
PORTERVILLE, Calif. (AP) _ Sierra Bancorp (BSRR) on Monday reported second-quarter profit of $8.8 million.
The bank, based in Porterville, California, said it had earnings of 57 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The parent company of Bank of the Sierra posted revenue of $33.6 million in the period. Its revenue net of interest expense was $30.1 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $30 million.
Sierra Bancorp shares have increased 7.5% since the beginning of the year. The stock has dropped 11% in the last 12 months.