Sierra Bancorp, the Porterville-based parent of Bank of the Sierra, raised its net income to $18 million last year, an increase of 19 percent.
For the fourth quarter the bank posted a net income of $5.3 million. Total assets were $1.79 billion, an increase of 10 percent in 2015.
Bank officials attributed the bank’s higher profits to higher interest-earning assets and an increase in non-recurring interest income.
“We’re excited about our prospects for 2016 and anticipate that this will be another year of action, cultivating customer relationships and generating quality loan and deposit growth,” said Kevin McPhaill, president and chief executive officer.