PORTERVILLE, Calif. (AP) — PORTERVILLE, Calif. (AP) — Sierra Bancorp (BSRR) on Monday reported first-quarter net income of $9.3 million.
The bank, based in Porterville, California, said it had earnings of 64 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The parent company of Bank of the Sierra posted revenue of $49.6 million in the period. Its revenue net of interest expense was $37.3 million, also surpassing Street forecasts.
Sierra Bancorp shares have declined 17% since the beginning of the year. The stock has risen 17% in the last 12 months.
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