PORTERVILLE, Calif. (AP) — PORTERVILLE, Calif. (AP) — Sierra Bancorp (BSRR) on Monday reported second-quarter net income of $9.9 million.
The Porterville, California-based bank said it had earnings of 77 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.
The parent company of Bank of the Sierra posted revenue of $49.5 million in the period. Its revenue net of interest expense was $39 million, also missing Street forecasts. Three analysts surveyed by Zacks expected $39.3 million.
Sierra Bancorp shares have increased 28% since the beginning of the year. The stock has risen 37% in the last 12 months.
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