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SIERRA BANCORP AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
90
4.
LOANS AND LEASES
(Continued)
No ALLL was recorded on purchased credit impaired loans as of December 31, 2015 and 2014. Purchased
credit impaired loans acquired during the years ended December 31, 2015 and 2014 for which it was
probable at acquisition that not all contractually required payments would be collected are as follows (dollars
in thousands):
2015
2014
Contractually required payments receivable of
loans purshased during the year:
Consumer
-
$
572
$
Sierra Reserve
-
875
Non-accretable difference
-
(1,221)
Cash flows expected to be collected at acquisition
-
226
Fair value of acquired loans at acquisition
-
$
226
$
Accretable yield, or income expected to be collected is as follows:
2015
2014
2013
Balance at January 1
1,106
$
-
$
-
$
New loans purchased
-
1,106
-
Accretion of income
(218)
-
-
Reclassifications from
non-accretable difference
-
-
-
Disposals
-
-
Balance at December 31
888
$
1,106
$
-
$
Years Ended December 31,