Sierra Bancorp reported unaudited consolidated earnings results for the fourth quarter and the year ended December 31, 2015. For the quarter, interest income was $16.2 million against $14.5 million last year. Net interest income was $15.5 million against $13.9 million last year. Net interest income after provision was $15.5 million against $13.9 million last year. Income before taxes was $8.1 million against $5.3 million last year. Net income was $5.4 million against $3.7 million last year. Basic and diluted earnings per share were $0.40 against diluted earnings per share of $0.26 last year. Return on average equity was 11.25% against 7.73% last year. Return on average assets was 1.24% against 0.93% last year. The increase in net income over the prior year is the result of substantially higher net interest income driven by higher interest-earning assets and an increase in non-recurring interest income, a growing level of non-interest income, and a reduced loan loss provision, partially offset by a higher tax accrual and, for the annual comparison, higher overhead expense. 

For the year, interest income was $62.7 million against $55.1 million last year. Net interest income was $60.1 million against $52.3 million last year. Net interest income after provision was $60.1 million against $52 million last year. Income before taxes was $27.1 million against $21.4 million last year. Net income was $18.1 million against $15.2 million last year. Diluted earnings per share were $1.33 against diluted earnings per share of $1.08 last year. Book value per basic share was $14.36 against $13.67 at December 31, 2014. Tangible book value per basic share was $13.77 against $13.08 at December 31, 2014. Return on average equity was 9.59% against 8.18% last year. Return on average assets was 1.07% against 1.03% last year.