SIERRA BANCORP AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
116
21.
PARENT ONLY CONDENSED FINANCIAL STATEMENTS
(Continued)
STATEMENTS OF INCOME
Years Ended December 31, 2014, 2013 and 2012
(dollars in thousands)
2014
2013
2012
Income:
Dividend fromSubsidiary
15,500
$
3,000
$
-
$
Gain on sale of securities
238
-
-
Other operating income
80
16
10
Total Income
15,818
3,016
10
Expense
Salaries and employee benefits
347
349
254
Other expenses
1,195
1,313
1,365
Total expenses
1,542
1,662
1,619
Income (loss) before income taxes
14,276
1,354
(1,609)
Income taxbenefit
(690)
(803)
(663)
Income (loss) before equity in undistributed
income of subsidiary
14,966
2,157
(946)
Equity in undistributed income
of subsidiary
274
11,212
9,131
Net income
15,240
$
13,369
$
8,185
$
