PORTERVILLE, Calif. (AP) — PORTERVILLE, Calif. (AP) — Sierra Bancorp (BSRR) on Monday reported second-quarter net income of $10.6 million.
The Porterville, California-based bank said it had earnings of 78 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The parent company of Bank of the Sierra posted revenue of $51.3 million in the period. Its revenue net of interest expense was $39.2 million, also beating Street forecasts.
Sierra Bancorp shares have increased 5.5% since the beginning of the year. The stock has risen almost 3% in the last 12 months.
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