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54
SIERRA BANCORP AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
December 31, 2015 and 2014
(dollars in thousands)
2015
2014
ASSETS
Cash and due frombanks
46,627
$
48,405
$
Interest-bearing deposits in banks
1,996
1,690
Cash and cash equivalents
48,623
50,095
Securities available-for-sale
507,582
511,883
Loans and leases:
Gross loans and leases
1,132,856
970,653
Allowance for loan and lease losses
(10,423)
(11,248)
Deferred loan and lease fees, net
2,169
1,651
Net loans and leases
1,124,602
961,056
Premises and equipment, net
21,990
21,853
Foreclosed assets
3,193
3,991
Goodwill
6,908
6,908
Other intangible assets, net
930
1,064
Company owned life insurance
44,140
42,989
Other assets
38,569
37,481
1,796,537
$
1,637,320
$
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits:
Non-interest bearing
432,251
$
390,897
$
Interest bearing
1,032,377
975,798
Total deposits
1,464,628
1,366,695
Repurchase agreements
9,405
7,251
Short-termborrowings
75,300
18,200
Long-termborrowings
2,000
6,000
Subordinated debentures
30,928
30,928
Other liabilities
23,936
21,155
Total liabilities
1,606,197
1,450,229
Commitments and contingent liabilities (Note 12)
Shareholders' equity
Serial Preferred stock, no par value; 10,000,000 shares
authorized; none issued
Common stock, no par value; 24,000,000 shares authorized;
13,254,088 and 13,689,181 shares issued and outstanding
in 2015 and 2014 respectively
62,404
64,153
Additional paid-in capital
2,689
2,605
Retained earnings
122,701
116,026
Accumulated other comprehensive income, net of taxes of
$1,846 in 2015 and $3,011 in 2014
2,546
4,307
Total shareholders' equity
190,340
187,091
1,796,537
$
1,637,320
$
The accompanying notes are an integral part of these consolidated financial statements.