Sierra Bancorp reports $4.56m profit in second quarter

Sierra Bancorp, the Porterville-based parent company of Bank of the Sierra, reported a second-quarter profit of $4.56 million, or 34 cents per share. Those earnings were up from $4.24 million, or 30 cents per share, from the second quarter of 2014.

Through the first six months of the year, net income was $8.23 million, or 61 cents per share, compared to the first half of 2014 when earnings were $8.04 million, or 57 cents per share.

The company attributed the increases to growth in income from interest on loans, a lower provision for loan losses, and higher income from non-interest sources including service charges on deposit accounts.

Sierra Bancorp stock is listed on Nasdaq under the symbol BSRR. The company’s stock closed Monday, after the results were announced, at $18.01 per share, up from Friday’s close of $17.69. It closed Tuesday at $18.02 per share.

This story was originally published July 21, 2015 at 1:45 PM with the headline "Sierra Bancorp reports $4.56m profit in second quarter."