BSRR Stock: Insider Activity, Filings & Research
Sierra Bancorp (BSRR) — Drillr’s hub for BSRR insider activity, SEC filings, earnings signals and AI research. Over the trailing 3 months, BSRR insiders filed 0 open-market buys and 4 sales (SEC Form 4).
BSRR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 29, 2026 | Boyle Hugh Fofficer: EVP/Chief Credit Officer | Sell | 10,000 | $38.21 |
| May 22, 2026 | Treece Christopher Gofficer: EVP/Chief Financial Officer | Option | 10,000 | $27.11 |
| May 22, 2026 | Treece Christopher Gofficer: EVP/Chief Financial Officer | Sell | 10,000 | $38.18 |
| May 20, 2026 | Christenson Vonn Rdirector | Option | 1,053 | $28.21 |
| May 20, 2026 | Christenson Vonn Rdirector | Sell | 1,053 | $38.01 |
| May 12, 2026 | Christenson Vonn Rdirector | Sell | 3,947 | $38.05 |
| May 12, 2026 | Christenson Vonn Rdirector | Option | 3,947 | $28.21 |
| Mar 4, 2026 | Boyle Hugh Fofficer: EVP/Chief Credit Officer | Tax | 1,689 | $35.98 |
| Feb 25, 2026 | Olague Michaelofficer: EVP/Chief Banking Officer | Tax | 665 | $36.09 |
| Feb 25, 2026 | McPhaill Kevin Jofficer: President/CEO | Tax | 1,358 | $36.09 |
| Feb 25, 2026 | Boyle Hugh Fofficer: EVP/Chief Credit Officer | Tax | 794 | $36.09 |
| Feb 25, 2026 | Treece Christopher Gofficer: EVP/Chief Financial Officer | Tax | 800 | $36.09 |
| Feb 25, 2026 | Coen Natalia Mofficer: EVP/CRO | Tax | 653 | $36.09 |
| Feb 19, 2026 | BERRA ALBERT Ldirector | Option | 5,000 | $17.25 |
| Feb 17, 2026 | Castle Julie Gdirector | Sell | 250 | $37.52 |
Source: BSRR SEC Form 4 filings, latest May 29, 2026. For informational purposes only — not investment advice.
Sierra Bancorp company profile
Overview
Sierra Bancorp (NASDAQ:BSRR) is a regional bank holding company founded in 1977 and headquartered in Porterville, California. The company operates through its wholly-owned subsidiary, Bank of the Sierra, which provides retail and commercial banking services primarily throughout California's Central Valley and surrounding regions. With over four decades of operation, Sierra Bancorp has established itself as a community-focused financial institution serving individuals, businesses, and agricultural enterprises across 35 full-service branches as of 2021.
Business
Sierra Bancorp operates in the regional banking industry, functioning as a traditional community bank that provides comprehensive financial services to local markets in California. The banking industry serves as a financial intermediary, accepting deposits from customers and lending those funds to borrowers while earning interest on the spread between what they pay depositors and what they charge borrowers. The company's core services are divided into two main segments. The deposit services include checking accounts, savings accounts, money market demand accounts, time deposits (certificates of deposit), retirement accounts, and sweep accounts. These products allow customers to safely store their money while earning interest, with the bank using these deposits as its primary source of funding for lending activities. The lending services encompass a diverse portfolio including agricultural loans, commercial loans, consumer loans, real estate loans, construction loans, and mortgage loans. Agricultural lending is particularly significant given the company's location in California's Central Valley, a major agricultural region. Commercial loans serve local businesses' working capital and expansion needs, while real estate and construction loans support property development and home purchases. Sierra Bancorp also provides modern banking conveniences including automated teller machines, electronic point-of-sale payment systems, online banking, automated telephone banking, remote deposit capture for businesses, and automated payroll services. The company operates specialized centers including an agricultural credit center and an SBA (Small Business Administration) lending center, reflecting its focus on serving the agricultural community and small businesses in its market area.
Revenue model
Sierra Bancorp generates revenue through the traditional banking business model known as net interest income, which is the difference between interest earned on loans and investments and interest paid on deposits and borrowings. This spread typically represents the majority of a bank's revenue. For 2024, the company reported total revenue of approximately $139 million. The bank's customers include individual consumers who maintain deposit accounts and obtain personal loans, local businesses requiring commercial lending and cash management services, agricultural enterprises needing specialized farm lending, and real estate developers seeking construction and development financing. The agricultural sector is particularly important given the bank's geographic focus in California's Central Valley. Additional revenue streams include fee-based services such as account maintenance fees, overdraft fees, loan origination fees, and charges for electronic banking services. The bank also generates income from SBA loan sales, where it originates government-guaranteed small business loans and sells the guaranteed portions while retaining servicing rights. Several factors influence Sierra Bancorp's profitability margins. Interest rate environment significantly impacts net interest margin - rising rates generally benefit banks by allowing them to charge higher loan rates while deposit rates typically lag. Credit quality affects profitability through loan loss provisions; economic downturns in the agricultural sector or local economy could increase defaults. Competition from larger banks, credit unions, and fintech companies can pressure both deposit rates and loan pricing. Regulatory compliance costs represent ongoing expenses that can impact margins, while operational efficiency through technology investments and branch optimization affects the cost structure.
Competitive moat
Sierra Bancorp possesses a modest but meaningful competitive moat primarily built around its deep local market knowledge and community relationships, particularly in California's agricultural sector. The bank's four-decade presence in the Central Valley has created strong customer relationships and institutional knowledge of local farming cycles, crop financing needs, and regional economic patterns that larger national banks may lack. The company's agricultural lending expertise represents a specialized competency that creates switching costs for farm customers who value bankers who understand their seasonal cash flows and commodity-specific financing needs. This specialization, combined with local decision-making authority, allows Sierra to compete effectively against larger institutions that may have more bureaucratic lending processes. However, the moat is relatively narrow and faces several challenges. The banking industry is highly commoditized, with limited product differentiation and intense competition on rates and fees. Larger banks can offer more comprehensive services, better technology platforms, and competitive pricing due to their scale advantages. Credit unions in the region may offer more favorable rates due to their tax-exempt status and member-owned structure. Potential disruption comes from fintech companies offering digital banking solutions, online lenders providing faster loan approvals, and agricultural technology companies that might integrate financial services. Additionally, consolidation in the regional banking sector could bring larger, better-capitalized competitors into Sierra's markets. The bank's geographic concentration also creates vulnerability to regional economic downturns, particularly in agriculture, which could simultaneously impact loan demand, credit quality, and deposit growth.
Risks & safety
Sierra Bancorp demonstrates moderate financial stability with adequate capital buffers but some concentration risks that warrant monitoring. • Liquidity position: Cash and short-term investments of $160 million as of Q1 2025, representing strong liquidity relative to quarterly operating needs • Capital adequacy: Total equity of approximately $351 million against $3.6 billion in assets, indicating reasonable capitalization for a regional bank • Debt levels: Debt-to-equity ratio of 0.46 as of Q4 2024, representing manageable leverage typical for banking operations • Profitability: Consistent profitability with net income of $40.6 million for 2024, though earnings can be volatile quarter-to-quarter • Valuation metrics: Trading at P/E ratio of approximately 10.2x and price-to-book of 1.16x, suggesting reasonable valuation relative to book value • Credit risk: Geographic and sector concentration in California agriculture creates potential vulnerability to regional economic stress or agricultural commodity cycles • Interest rate sensitivity: Asset-liability duration mismatch typical of banks creates earnings volatility during interest rate cycles
Recent development
Based on available financial data, Sierra Bancorp has maintained steady operations while navigating the challenging interest rate environment of recent years. The bank has demonstrated consistent profitability with annual net income ranging from $33-40 million over the 2022-2024 period, showing resilience despite economic uncertainties. The company has maintained its asset quality with total assets stable around $3.6-3.7 billion, suggesting disciplined growth and risk management. Revenue has remained relatively consistent at approximately $130-139 million annually, indicating stable core banking operations despite interest rate volatility. Sierra Bancorp has continued to focus on its core market strengths in agricultural and commercial lending while maintaining its community banking model. The bank's specialized agricultural credit center and SBA lending operations reflect ongoing commitment to serving its primary customer segments in California's Central Valley. The company has maintained adequate capital levels and liquidity positions throughout the recent period of banking sector stress, with cash positions varying from $77-184 million depending on seasonal and operational factors. This suggests prudent balance sheet management during a period when many regional banks faced deposit outflows and credit concerns.
BSRR company profile · for informational purposes only — not investment advice.
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