Sierra Bancorp Declares $0.26 Quarterly Dividend
Sierra Bancorp (NASDAQ: BSRR), a California-based community bank holding company, declared a quarterly cash dividend of $0.26 per share for the first quarter of 2026. The dividend is payable on May 11, 2026.
Sierra Bancorp (NASDAQ: BSRR), a California-based community bank holding company, declared a quarterly cash dividend of $0.26 per share for the first quarter of 2026. The dividend is payable on May 11, 2026. Read more dividend announcements.
The company did not disclose a record date or ex-dividend date at the time of the announcement.
| Dividend Details | Information |
|---|---|
| Amount | $0.26 per share |
| Frequency | Quarterly |
| Record Date | Not disclosed |
| Ex-Dividend Date | Not disclosed |
| Payment Date | May 11, 2026 |
Strong First Quarter Performance
The dividend declaration came alongside the company's first quarter 2026 results, which showed significant profitability improvements. Return on average assets climbed to 1.39% from 1.02% in the same quarter of 2025, while return on average equity jumped to 13.88% from 10.44% year-over-year.
Net interest margin edged up to 3.75% from 3.74% in the first quarter of 2025. The company's efficiency ratio improved to 56.45% from 60.62% a year earlier, driven by a 2.6% decline in overall expenses.
Deposit Growth and Capital Position
Total deposits increased $75.9 million, or 3%, compared to March 31, 2025. Excluding brokered deposits, the bank grew core customer deposits by $49.1 million, or 2%, from the prior quarter. Noninterest-bearing deposits stood at $1.03 billion, representing 35% of total deposits.
Cost of funds declined to 1.33% in the first quarter of 2026 from 1.46% in the same period of 2025. Uninsured deposits accounted for approximately 24% of total deposit balances.
Tangible book value per share increased 1% during the quarter to $25.69. The company's subsidiary bank maintained a Community Bank Leverage Ratio of 12.05%, up from 11.94% at December 31, 2025.
Share Repurchases
Sierra Bancorp repurchased 263,632 shares during the first quarter, representing 2% of shares outstanding at December 31, 2025. Primary liquidity ratio improved to 19.8% from 19.1% at year-end 2025, with overall primary and secondary liquidity sources totaling $2.1 billion.
CEO and President Kevin McPhaill stated the company achieved its fifth consecutive quarter of efficiency ratio improvement, attributing the results to ongoing expense management discipline and refocused community banking efforts within the branch network.