Sierra Bancorp : Investor Presentation February 2023
February 01, 2023 at 08:48 pm IST
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SIERRA BANCORP
Investor Presentation
JANNEY WEST COAST CEO FORUM
SCOTTSDALE, ARIZONA
FEBRUARY 1-2, 2023
SAFE HARBOR STATEMENT
This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of
1995. These statements are based on the current beliefs and expectations of Sierra Bancorp's management and are:
subject to contingencies & uncertainties
not a guarantee of future performance
based on assumptions that may change
not to be unduly relied on
Actual results may differ from those set forth in the forward-looking statements. Factors that could cause Sierra Bancorp's
actual results to differ materially from those described in the forward-looking statements include:
changes to current interest rates, including changes to the steepness of current inverted yield curve
the health of national and local economies including the impact of inflation and the current labor market
loan portfolio performance including growth, prepayment speeds, credit quality and level of nonperforming assets, and yields
impact of the recently implemented ASC 326 - Current Expected Credit Losses
changes to the collateral values supporting nonperforming assets that could result in recognition of charge-offs or direct write down of foreclosed assets
changes to statutes, regulations, interpretations or practices
changes or updates to generally accepted accounting principles
liquidity risks, including the ability to effectively manage and retain low interest-bearing accounts in a continued elevated rate environment
continued economic uncertainty related to the pandemic and any national, local, or regulatory responses to the pandemic
the outcome of any existing or future legal action
the Company's ability to maintain and grow its core deposits
the Company's ability to successfully deploy new technology and products
the Company's ability to attract and retain skilled employees
For more detail on these and other risks, please see Sierra Bancorp's Annual Report on Form 10-K for the year ended
December 31, 2021 and Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2022, June 30, 2022 and September 30, 2022 which have been filed with the Securities and Exchange Commission and are available on Sierra Bancorp's
website (https://sierrabancorp.com), and on the Securities and Exchange Commission's website (www.sec.gov). Sierra Bancorp does not undertake to update any forward-looking statements.
INTRODUCTION
SIERRA BANCORP KEY METRICS
Sierra Bancorp (NASDAQ: BSRR)
Recent Stock Price1:
$21.79
Price/TTM Earning1:
9.68x
Price/Tangible Book Value1:
1.21x
Most recent quarterly dividend2:
$0.23
Dividend Yield1,2:
4.22%
Market Capitalization1:
$330.6MM
_____________________
Stock data and metrics as of close of trading on January 23, 2023
Dividend announced on January 20, 2023, to be paid on February 13, 2023 to shareholders of record as of January 31, 2023. This dividend marked the Company's 95th consecutive quarterly cash dividend.
COMPANY BACKGROUND
Bank of the Sierra opened in Porterville, CA in 1978 as a single-branch bank with $1.5 million in capital
Sierra Bancorp was formed as the holding company for the Bank in 2001
Bank has reached $3.6 billion in assets, with 35 offices, plus loan production offices in Roseville and Templeton, CA
Two most recent whole-bank acquisitions: Coast National Bank (2016) and Ojai Community Bank (2017)
Bank of the Sierra has maintained its reputation as a service-oriented and customer-focused community bank
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Disclaimer
Sierra Bancorp published this content on 01 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 February 2023 15:17:03 UTC.
Sierra Bancorp is a bank holding company for Bank of the Sierra (the Bank). The Bank is a California state-chartered bank, which offers a range of retail and commercial banking services via branch offices located throughout Californiaâs South San Joaquin Valley, the Central Coast, Ventura County, and neighboring communities. It provides multiple account access options to meet both new and existing customer needs: an online account opening platform; online banking with bill-pay and mobile banking capabilities; online lending solutions for consumers and small businesses; a customer service center, and an automated telephone banking system. Its lending activities cover real estate, commercial (including small business), mortgage warehouse, agricultural, and consumer loans. It offers a range of deposit products and services for individuals and businesses, including checking accounts, savings accounts, money market demand accounts, time deposits, retirement accounts, and sweep accounts.