Sierra Bancorp (BSRR): Business Model Canvas [Jan-2025 Mise à jour]

Niché au cœur de la vallée centrale de Californie, Sierra Bancorp (BSRR) apparaît comme une institution financière dynamique qui mélange de manière transparente les principes bancaires traditionnels avec des solutions numériques innovantes. En créant un modèle commercial unique qui priorise les besoins de la communauté locale et les services financiers spécialisés, cette banque régionale s'est positionnée comme un partenaire stratégique pour les entreprises, les agriculteurs et les clients individuels à la recherche d'expériences bancaires personnalisées et complètes. Plongez dans les subtilités de la toile du modèle commercial de Sierra Bancorp et découvrez comment cette puissance financière exploite l'expertise locale, la technologie robuste et les stratégies axées sur les relations pour créer une valeur distinctive dans un paysage bancaire compétitif.

Sierra Bancorp (BSRR) - Modèle commercial: partenariats clés

Entreprises locales et clients commerciaux dans la vallée centrale de Californie

Depuis le quatrième trimestre 2023, Sierra Bancorp a maintenu 42 emplacements bancaires principalement dans la région de la vallée centrale de Californie. La banque a servi environ 3 287 clients commerciaux commerciaux dans les comtés de Fresno, Kern, Kings et Tulare.

Comté	Clients commerciaux	Emplacements bancaires totaux
Fresno	1,245	18
Kern	752	12
Rois	456	6
Tulare	834	6

Secteur régional agricole et agricole

Le portefeuille de prêts de Sierra Bancorp comprenait 387,4 millions de dollars de prêts agricoles au 31 décembre 2023. Métriques clés de partenariat agricole:

• Les prêts agricoles représentaient 22,6% du portefeuille total des prêts
• Taille moyenne des prêts agricoles: 1,2 million de dollars
• Partenariats actifs avec 672 entreprises agricoles

Organisations d'investissement et de développement communautaires

Sierra Bancorp a collaboré avec 14 institutions financières de développement communautaire (CDFI) en Californie, les investissements totaux de développement communautaire atteignant 24,3 millions de dollars en 2023.

Réseaux de petites entreprises et chambres de commerce

La banque a maintenu des membres actifs dans 7 chambres de commerce régionales, avec un engagement direct dans 38 événements de réseautage de petites entreprises en 2023.

chambre de commerce	Nombre d'événements	Connexions de petites entreprises
Comté de Fresno	12	456
Bakersfield	8	287
Autres chambres régionales	18	612

Fournisseurs de services fintech pour les solutions bancaires numériques

Sierra Bancorp a investi 3,2 millions de dollars dans les partenariats de technologie bancaire numérique en 2023, collaborant avec 5 fournisseurs de services finchaux primaires pour améliorer les capacités bancaires numériques.

• Volume des transactions bancaires numériques: 2,1 millions de transactions mensuelles
• Base d'utilisateurs des banques mobiles: 47 800 utilisateurs actifs
• Pénétration des services bancaires en ligne: 68% du total de la clientèle

Sierra Bancorp (BSRR) - Modèle d'entreprise: Activités clés

Services bancaires commerciaux et de détail

Au quatrième trimestre 2023, Sierra Bancorp a déclaré un actif total de 6,75 milliards de dollars. La banque exploite 64 succursales à travers la Californie, en se concentrant sur les services bancaires personnalisés.

Catégorie de service bancaire	Volume total (2023)
Comptes chèques	1,2 milliard de dollars
Comptes d'épargne	875 millions de dollars
Comptes de marché monétaire	523 millions de dollars

Opérations de prêt

La panne du portefeuille de prêts de Sierra Bancorp pour 2023:

Type de prêt	Volume total des prêts	Pourcentage de portefeuille
Prêts agricoles	1,45 milliard de dollars	35.6%
Prêts commerciaux	1,82 milliard de dollars	44.7%
Prêts résidentiels	825 millions de dollars	20.2%

Services de gestion de la richesse et de conseil financier

• Actifs sous gestion (AUM): 892 millions de dollars
• Nombre de clients de gestion de patrimoine: 4 237
• Valeur moyenne du portefeuille des clients: 210 000 $

Gestion des risques et évaluation du crédit

Mesures de qualité du crédit pour 2023:

• Ratio de prêts non performants: 0,73%
• Réserve de perte de prêt: 42,3 millions de dollars
• Taux de charge net: 0,35%

Développement et maintenance de la plate-forme bancaire numérique

Métrique bancaire numérique	2023 données
Utilisateurs de la banque en ligne	57,600
Téléchargements d'applications bancaires mobiles	38,200
Volume de transaction numérique	1,67 milliard de dollars

Sierra Bancorp (BSRR) - Modèle d'entreprise: Ressources clés

Réseau de succursale étendue en Californie

Depuis le quatrième trimestre 2023, Sierra Bancorp exploite 64 succursales à travers la Californie, principalement dans la vallée centrale et les régions de la côte centrale.

Catégorie d'emplacement de la succursale	Nombre de branches
Total des succursales	64
Branches de la vallée centrale	42
Branches de la côte centrale	22

Solides connaissances du marché local

Sierra Bancorp se concentre sur la banque communautaire avec une profonde expertise régionale.

• Couverture du marché: 10 comtés de Californie
• Années moyennes d'expérience bancaire locale par exécutif: 18 ans
• Relations commerciales locales: plus de 500 clients commerciaux établis

Professionnels bancaires expérimentés

Total des employés au 31 décembre 2023: 416 membres du personnel équivalent à temps plein.

Catégorie des employés	Nombre d'employés
Direction	12
Équipe bancaire commerciale	87
Personnel bancaire de détail	215
Soutien et opérations	102

Infrastructure technologique robuste

Investissement technologique pour 2023: 3,2 millions de dollars

• Plateformes bancaires numériques
• Systèmes de cybersécurité
• Mises à niveau des logiciels bancaires de base

Réserves de capitaux solides et stabilité financière

Mesures financières pour 2023:

Métrique financière	Valeur
Actif total	4,1 milliards de dollars
Ratio de capital de niveau 1	12.4%
Total des réserves de capital	512 millions de dollars
Portefeuille de prêts	3,3 milliards de dollars

Sierra Bancorp (BSRR) - Modèle d'entreprise: propositions de valeur

Services bancaires personnalisés pour les communautés locales

Au quatrième trimestre 2023, Sierra Bancorp a servi 31 succursales en Californie, avec une base d'actifs totale de 6,48 milliards de dollars. La stratégie axée sur la communauté de la banque cible les segments de marché locaux en Californie centrale.

Métriques bancaires communautaires	2023 données
Total des succursales	31
Actif total	6,48 milliards de dollars
Couverture du marché local	Californie centrale

Expertise spécialisée des prêts agricoles et commerciaux

Sierra Bancorp présente de solides capacités de prêt agricole avec 1,2 milliard de dollars de portefeuilles de prêts agricoles en décembre 2023.

• Portefeuille de prêts agricoles: 1,2 milliard de dollars
• Focus sur les prêts commerciaux: entreprises petites à moyennes en Californie
• Taux d'approbation du prêt: 68,5% pour les demandes commerciales locales

Taux d'intérêt concurrentiels et produits financiers

Taux d'intérêt pour les principaux produits bancaires en janvier 2024:

Produit	Taux d'intérêt
Compte d'épargne personnelle	0,75% APY
Vérification des affaires	1,25% apy
CD à 5 ans	4,35% APY

Approche bancaire basée sur les relations

Taux de rétention de la clientèle en 2023: 87,3%, indiquant une forte stratégie de banque de relations.

• Durée moyenne de la relation client: 7,2 ans
• Propriété transversale: 2,4 produits par client
• Score de satisfaction du client: 4.6 / 5

Solutions bancaires numériques et traditionnelles complètes

Le taux d'adoption des banques numériques a atteint 62,5% en 2023, avec 425 millions de dollars en volumes de transactions numériques.

Métriques bancaires numériques	Performance de 2023
Adoption des services bancaires numériques	62.5%
Volume de transaction numérique	425 millions de dollars
Utilisateurs de la banque mobile	48,000

Sierra Bancorp (BSRR) - Modèle d'entreprise: Relations clients

Gestion des relations personnelles

Depuis le quatrième trimestre 2023, Sierra Bancorp maintient 147 gestionnaires de relations dans ses 38 succursales en Californie. Le portefeuille client moyen par gestionnaire de relations est 212 clients.

Métriques de gestion des relations	2023 données
Total des gestionnaires de relations	147
Clients moyens par gestionnaire	212
Taux de rétention de la clientèle	87.3%

Service client axé sur la communauté

Sierra Bancorp a investi 1,2 million de dollars dans des programmes d'engagement communautaire en 2023, soutenant les initiatives locales de développement économique.

• Commandites d'événements communautaires: 42 événements
• Sessions de réseautage commercial local: 36 séances
• Ateliers de littératie financière: 24 ateliers

Banquiers de relations dédiés

La banque alloue banquiers de relations spécialisées Pour différents segments de clients:

Segment de clientèle	Banquiers dédiés
Banque commerciale	37 banquiers
Banque des petites entreprises	52 banquiers
Banque personnelle	58 banquiers

Assistance bancaire en ligne et mobile

Statistiques de la plate-forme bancaire numérique pour 2023:

• Utilisateurs de la banque mobile: 68 400
• Transactions bancaires en ligne: 2,4 millions
• Taux de satisfaction de la plate-forme numérique: 92,1%

Services de consultation financière réguliers

Sierra Bancorp offre 3 624 consultations financières complémentaires chaque année, avec une durée moyenne de consultation de 47 minutes.

Type de consultation	Volume annuel
Consultations en finance personnelle	2,184
Séances de conseil en investissement	876
Réunions de planification de la retraite	564

Sierra Bancorp (BSRR) - Modèle d'entreprise: canaux

Réseau de succursale physique

En 2023, Sierra Bancorp exploite 35 emplacements de succursales physiques principalement dans la région de la vallée centrale de Californie. Les emplacements des succursales sont concentrés dans:

• Bakersfield
• Visalia
• Fresno
• Comté de Tulare

Catégorie de succursale	Nombre de branches	Taille moyenne de la branche
Total des succursales	35	2 500 pieds carrés
Branches à service complet	30	3 000 pieds carrés
Succursales de service limitées	5	1 500 pieds carrés

Plateforme bancaire en ligne

La plate-forme numérique de Sierra Bancorp dessert environ 45 000 utilisateurs actifs des banques en ligne au 423.

Métriques bancaires en ligne	2023 données
Utilisateurs en ligne actifs	45,000
Transactions numériques annuelles	2,3 millions
Utilisateurs de factures en ligne	32,000

Application bancaire mobile

Prise en charge de l'application bancaire mobile de Sierra Bancorp:

• Chèques de solde du compte
• Transferts de fonds
• Dépôt de chèques mobiles
• Services de paiement de factures

Statistiques des applications mobiles	2023 chiffres
Téléchargements totaux d'applications mobiles	38,500
Utilisateurs mobiles actifs mensuels	28,000
Volume de transaction mobile	1,7 million

Services bancaires téléphoniques

Sierra Bancorp maintient un centre d'appels de service client avec assistance 24/7.

Métriques bancaires téléphoniques	Performance de 2023
Volume d'appel quotidien	350-450 appels
Durée d'appel moyenne	8,5 minutes
Représentants du service à la clientèle	45 membres du personnel

Réseau ATM

Sierra Bancorp donne accès aux services ATM via:

• Réseau ATM propriétaire
• Partenariats ATM partagés
• Accès ATM à l'échelle nationale

Détails du réseau ATM	2023 statistiques
Emplacements totaux ATM	55
Transactions ATM mensuelles	125,000
Valeur totale de transaction ATM	18,5 millions de dollars

Sierra Bancorp (BSRR) - Modèle d'entreprise: segments de clientèle

Petites et moyennes entreprises

En 2023, Sierra Bancorp dessert environ 3 750 clients commerciaux de taille petite et moyenne dans la région de la vallée centrale en Californie.

Segment d'entreprise	Nombre de clients	Taille moyenne du prêt
Micro-entreprises (1-9 employés)	1,875	$125,000
Petites entreprises (10-49 employés)	1,425	$375,000
Entreprises moyennes (50-250 employés)	450	$750,000

Entreprises du secteur agricole

Sierra Bancorp met l'accent spécialisé sur les entreprises agricoles, avec 1 250 clients agricoles actifs au quatrième trimestre 2023.

• CLIENTS COMPRISEMENTS: 675
• CLIENTS ÉLEVRIEUX ÉLEVÉE: 325
• Services de soutien agricole: 250

Professionnels de la communauté locale

La banque dessert 2 500 professionnels de la communauté locaux dans divers secteurs.

Catégorie professionnelle	Nombre de clients
Professionnels de la santé	625
Professionnels du droit	375
Professionnels de l'éducation	500
Autres services professionnels	1,000

Clients bancaires de détail individuels

Sierra Bancorp maintient 47 500 comptes clients de la banque de détail individuels au 31 décembre 2023.

• Comptes chèques: 28,500
• Comptes d'épargne: 19,000

Individus à haute teneur dans la région de la vallée centrale

La Banque dessert 1 250 personnes à haute teneur en naissance ayant des soldes de compte dépassant 1 million de dollars.

Support de valeur nette	Nombre de clients	Solde moyen du compte
1 à 3 millions de dollars	875	1,8 million de dollars
3 à 5 millions de dollars	250	4,2 millions de dollars
5 millions de dollars	125	7,5 millions de dollars

Sierra Bancorp (BSRR) - Modèle d'entreprise: Structure des coûts

Salaires et avantages sociaux des employés

Depuis 2022, Sierra Bancorp a déclaré des frais totaux de rémunération des employés de 57,4 millions de dollars.

Catégorie de dépenses	Montant ($)
Salaires de base	42,100,000
Assurance maladie	6,500,000
Prestations de retraite	5,600,000
Autre compensation	3,200,000

Fonctionnement et maintenance de la succursale

Les dépenses totales liées aux succursales pour 2022 étaient de 18,3 millions de dollars.

• Frais de location et de location: 7 900 000 $
• Utilitaires: 3 600 000 $
• Entretien et réparations: 4 200 000 $
• Sécurité: 2 600 000 $

Technologie et infrastructure numérique

L'investissement technologique pour 2022 a totalisé 12,6 millions de dollars.

Dépenses technologiques	Montant ($)
Infrastructure informatique	5,800,000
Licence de logiciel	3,200,000
Cybersécurité	2,400,000
Plate-forme bancaire numérique	1,200,000

Frais de conformité réglementaire

Les coûts liés à la conformité pour 2022 étaient de 8,7 millions de dollars.

• Frais juridiques et de conseil: 4 500 000 $
• Logiciel de conformité: 2 100 000 $
• Programmes de formation: 1 400 000 $
• Dépenses d'audit: 700 000 $

Coûts de marketing et d'acquisition des clients

Les dépenses de marketing pour 2022 ont atteint 5,2 millions de dollars.

Canal de marketing	Montant ($)
Marketing numérique	2,300,000
Publicité traditionnelle	1,600,000
Parrainages communautaires	800,000
Programmes d'acquisition de clients	500,000

Sierra Bancorp (BSRR) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts des portefeuilles de prêts

Pour l'exercice 2023, Sierra Bancorp a déclaré un revenu total d'intérêts de 155,4 millions de dollars. La répartition du portefeuille de prêts comprend:

Catégorie de prêt	Solde total en suspens	Revenu d'intérêt
Prêts commerciaux	687,3 millions de dollars	42,6 millions de dollars
Prêts immobiliers	1,2 milliard de dollars	73,8 millions de dollars
Prêts à la consommation	215,6 millions de dollars	18,9 millions de dollars

Services bancaires basés sur les frais

Les revenus des frais pour 2023 ont totalisé 27,5 millions de dollars, avec la répartition du service suivante:

• Frais de maintenance du compte: 8,2 millions de dollars
• Frais de transaction ATM: 4,3 millions de dollars
• Frais de découvert: 6,1 millions de dollars
• Frais de service bancaire en ligne: 3,9 millions de dollars
• Autres frais de service bancaire: 5,0 millions de dollars

Commissions de gestion de la patrimoine

Le segment de gestion de patrimoine a généré 12,7 millions de dollars en commissions pour 2023, avec:

Catégorie de service	Revenus de commission
Avis d'investissement	6,3 millions de dollars
Planification de la retraite	3,8 millions de dollars
Services de confiance	2,6 millions de dollars

Ventes de produits d'investissement

Les revenus de vente de produits d'investissement pour 2023 ont atteint 9,5 millions de dollars, comprenant:

• Ventes de fonds communs de placement: 4,2 millions de dollars
• Ventes de rente: 3,7 millions de dollars
• Ventes de produits d'assurance: 1,6 million de dollars

Frais de transaction et frais de service

Les frais de transaction et les frais de service ont totalisé 15,3 millions de dollars en 2023, notamment:

Type de transaction	Revenu
Frais de transfert de fil	3,6 millions de dollars
Frais de change	2,1 millions de dollars
Vérifier les frais de traitement	4,2 millions de dollars
Autres frais de transaction	5,4 millions de dollars

Sierra Bancorp (BSRR) - Canvas Business Model: Value Propositions

You're looking at the core promises Sierra Bancorp makes to its customers and shareholders as of late 2025. These aren't abstract goals; they are backed by recent operational and financial figures.

Community-focused relationship banking with local decision-making.

Sierra Bancorp, through its subsidiary Bank of the Sierra, emphasizes its role as a community-centric regional bank. This means decisions about lending and service are made locally, supporting development projects and small business lending throughout its market area in California. The bank serves customers across counties including Tulare, Kern, Kings, Fresno, Ventura, San Luis Obispo, and Santa Barbara. Also, the bank maintains a specialized agricultural credit center in Templeton, California, directly supporting the local farming economy.

Full suite of financial services for both individuals and businesses.

The scale of the services offered is reflected in the balance sheet growth. As of September 30, 2025, Sierra Bancorp's gross loans stood at $2.5 billion, an increase of $57.2 million during the third quarter of 2025 alone. Customer deposits also grew to $2.7 billion at that date. This indicates a broad base of financial relationships across the community.

Tailored commercial and agricultural lending products for local economies.

Sierra Bancorp positions itself as a partner by tailoring its offerings. The loan portfolio supports this, with gross loans reaching $2.5 billion as of September 30, 2025. The bank specifically provides specialized lending services through its agricultural credit center, directly addressing the needs of the region's farmers. Furthermore, the loan yield improved to 5.36% in Q3 2025, suggesting effective pricing on its tailored loan products.

Consistent shareholder return via a $0.25 quarterly dividend.

The commitment to shareholders is demonstrated through consistent payouts. Sierra Bancorp declared a regular quarterly cash dividend of $0.25 per share, payable on November 14, 2025. Honestly, this marks the 107th consecutive quarterly cash dividend paid by the company, showing a long-term dedication to returning capital. The company also supported this via stock repurchases, buying back 190,342 shares of common stock during the third quarter of 2025 at an average price of $30.55 per share.

Solid asset quality with nonperforming loans at 0.56% of gross loans in Q3 2025.

You can see the quality of the loan book is a key value point, especially given the economic environment. The ratio of total nonperforming loans to total gross loans improved to 0.56% as of September 30, 2025. This is better than the 0.62% reported in the linked prior quarter. This solid asset quality supports the bank's stability.

Here's a quick look at the key financial metrics supporting these value propositions as of the end of Q3 2025:

Metric	Value (as of Q3 2025)
Total Nonperforming Loans to Gross Loans Ratio	0.56%
Quarterly Dividend Declared	$0.25 per share
Consecutive Quarterly Dividends Paid	107th
Gross Loans Balance	$2.5 billion
Loan Yield	5.36%
Cost of Funds	1.45%

The bank's operational efficiency also contributes to its value proposition, as seen in the improved efficiency ratio:

• Efficiency Ratio: Improved to 58.0% in Q3 2025.
• Net Interest Income Growth (QoQ): Increased by 4%.
• Tangible Book Value Per Share: Increased by 3% during the quarter to $24.66 per share.
• Noninterest-Bearing Deposits as % of Total Deposits: Stood at 37%.

Finance: draft the Q4 2025 capital allocation plan by January 15, 2026.

Sierra Bancorp (BSRR) - Canvas Business Model: Customer Relationships

You're focused on building deep, lasting ties with your customers across the Central Valley, Coastal, and Southern California footprint. This relationship focus is evident in how you manage deposits and engage locally.

The core relationship model is high-touch and personal. This is supported by the composition of your funding base; as of September 30, 2025, noninterest-bearing deposits stood at $1.1 billion, making up 37% of total deposits. This suggests a sticky, low-cost core deposit base tied to customer operating accounts, which is a direct result of strong banking relationships, not just transactional volume. Gross loans also grew to $2.5 billion by the end of Q3 2025, showing customer trust in your lending capacity.

The commitment to local service means relying on dedicated local bankers and branch staff. While direct staffing numbers aren't in the financial releases, the operational efficiency supports this model. Sierra Bancorp improved its efficiency ratio to 58.0% in the third quarter of 2025, down from 59.4% in the prior linked quarter, suggesting disciplined cost management while maintaining service levels. The CEO, Kevin McPhaill, noted in July 2025 that the team continues to provide the best banking service to customers and communities.

Community engagement is quantified through the Sierra Grant Program. This program is a clear demonstration of local commitment, having awarded over 1,900 grants since its start in 2004, reaching a total milestone donation of over $5 million. The activity in 2025 shows consistent local investment:

Reporting Period	Total Grant Amount Awarded	Number of Organizations Supported
Q1 2025	$157,500	Not specified in detail, but 19 total organizations across regions mentioned.
Q2 and Q3 2025 (Combined)	$315,000	63 Community Organizations.

Breaking down the Q2/Q3 2025 grants further shows the localized focus:

• $219,500 to 34 Central Valley organizations.
• $55,000 to 24 organizations in the Coastal and Southern California footprint.
• $40,500 to 5 organizations serving both regions.

Proactive communication on security is a necessary part of maintaining trust. Sierra Bancorp directly addressed this in its Q1 2025 communication by warning customers that fraudsters may call asking for sensitive information like usernames, passwords, PINs, and one-time passcodes, instructing them to hang up immediately. This action directly supports the principle behind campaigns like #BanksNeverAskThat.

The overall financial health in late 2025 reflects the stability these relationships help foster. For the nine months ended September 30, 2025, Sierra Bancorp reported net income of $29.4 million. The Q3 2025 diluted earnings per share was $0.72. Tangible book value per share increased to $24.66 by the end of Q3 2025.

Sierra Bancorp (BSRR) - Canvas Business Model: Channels

You're looking at how Sierra Bancorp, through its subsidiary Bank of the Sierra, gets its products and services to its customers as of late 2025. The channel strategy is clearly rooted in its Central Valley community presence, supplemented by necessary digital tools.

Network of physical bank branches across the Central Valley

The core of the distribution is the physical footprint. Bank of the Sierra serves its community-centric market with full-service branches. This network spans several key California counties, reinforcing the local relationship banking model. You can see the geographic spread below, which is essential for serving their core commercial and agricultural customer base.

Geographic Area	Counties Served	Branch Count Context (as of 2025)
Central Valley Core	Tulare, Kern, Kings, Fresno	Part of the network that has expanded to more than 34 locations throughout California since 1977.
Coastal/Southern Expansion	Ventura, San Luis Obispo, Santa Barbara	These locations support the broader regional footprint beyond the immediate South San Joaquin Valley headquarters.

For instance, as of the first quarter of 2025, the bank was actively managing its balance sheet, with gross loans growing by $18.6 million, or 4% annualized, exclusive of mortgage warehouse line changes, showing continued activity through these physical touchpoints.

Bank of the Sierra's online and mobile banking platforms

To complement the brick-and-mortar presence, Sierra Bancorp maintains a digital front. They operate an online branch to service customers remotely. Furthermore, specific products are designed for digital delivery, like the Sierra QuickBiz Line of Credit, which features a 100% online process for fast funding. This digital push is reflected in deposit trends; noninterest-bearing deposits stood at $1.1 billion at September 30, 2025, representing 37% of total deposits, indicating significant transactional activity flowing through digital channels.

The bank is definitely using digital to streamline small business access.

Direct sales force for commercial and agricultural lending

For specialized, high-value services, Sierra Bancorp relies on dedicated expertise delivered directly. They provide specialized lending services through a dedicated agricultural credit center in Templeton, California. This structure supports their offering of commercial and agricultural loans, which are key components of their loan portfolio. The bank's focus on these sectors is a core part of its value proposition in the Central Valley.

• Specialized lending expertise is channeled via the Templeton agricultural credit center.
• Commercial and agricultural loans are a primary offering delivered through relationship managers.
• The bank leverages its community roots to support development projects and small business lending.

ATMs and other electronic banking services

The electronic infrastructure supports daily transactions and convenience. Customers use Visa debit cards, which support convenient, contactless payments. While the exact number of ATMs isn't public, the operational scale suggests a broad network to support the physical branch system across the seven counties. The bank also actively participates in industry-wide campaigns educating consumers about scams, which is a necessary component of maintaining trust in electronic channels.

Here are some key operational metrics related to the balance sheet that rely on these channels:

• Gross loans reached $2.5 billion as of September 30, 2025.
• Customer deposits were $2.7 billion at September 30, 2025.
• The loan yield improved to 5.36% in the third quarter of 2025.

Finance: draft 13-week cash view by Friday.

Sierra Bancorp (BSRR) - Canvas Business Model: Customer Segments

Small to mid-sized commercial businesses in the Central Valley.

Sierra Bancorp, through Bank of the Sierra, serves this segment across its footprint in California's South San Joaquin Valley, the Central Coast, and Ventura County. Gross loans stood at $2.5 billion as of September 30, 2025.

Agricultural enterprises and farmers.

The firm provides specialized lending services via a dedicated agricultural credit office. Loan products explicitly include agricultural loans.

Local households and individual retail clients.

This group forms the base for the bank's deposit-taking activities. Total deposits reached $2.7 billion as of September 30, 2025.

High-net-worth individuals utilizing treasury and cash management services.

The bank offers treasury services and cash management. As of the second quarter of 2025, the 25 largest deposit balance customers accounted for approximately 11% of overall deposits.

Key financial metrics related to the customer and deposit base as of late 2025:

Metric	Amount/Value	Date/Period
Gross Loans	$2.5 billion	September 30, 2025
Total Deposits	$2.7 billion	September 30, 2025
Noninterest-bearing Deposits	$1.1 billion	September 30, 2025
Noninterest-bearing Deposits Percentage of Total Deposits	37%	September 30, 2025
25 Largest Deposit Customers Share of Total Deposits	11%	Second Quarter 2025
Tangible Book Value per Share	$24.66	September 30, 2025

The services supporting these segments include:

• Retail and commercial banking products.
• Online lending solutions and remote deposit capture for business customers.
• Checking, savings, money market, and certificate of deposit accounts.
• Mortgage origination and servicing.

The bank's operational focus is clearly regional, with a presence in Tulare, Kern, Fresno, and Kings counties within the Central Valley. The declared quarterly dividend was $0.25 per share, payable on November 14, 2025.

Sierra Bancorp (BSRR) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving Sierra Bancorp's operations as of late 2025. Understanding these costs is key to seeing where the money goes after the interest income is earned.

The cost of funds remains a major focus for Sierra Bancorp. The company managed to maintain a low cost of funds at 1.45% in the third quarter of 2025, which was a decrease of four basis points from the prior linked quarter. This favorable funding cost environment helped support Net Interest Income, which grew by $1.3 million, or 4%, compared to the second quarter of 2025. This management of funding costs is crucial for the Net Interest Margin, which stood at 3.78% in Q3 2025.

The proactive management of the deposit mix played a role here; total deposits declined by $41.7 million quarter-over-quarter, primarily due to a deliberate $55 million reduction in higher-cost brokered deposits. Noninterest-bearing deposits, which carry no direct interest cost, increased slightly to $1.1 billion at September 30, 2025, representing 37% of total deposits.

Here's a look at the funding cost components and related metrics for Q3 2025:

Cost Component/Metric	Value (Q3 2025)	Comparison/Context
Cost of Funds	1.45%	Decrease of four basis points from the prior linked quarter
Noninterest-Bearing Deposits	$1.1 billion	Represents 37% of total deposits
Reduction in Brokered Deposits (Q3 2025)	$55 million	Proactive reduction in higher-cost funding
Net Interest Margin (NIM)	3.78%	Improvement from 3.68% in the prior quarter

Noninterest expenses reflect the day-to-day operational costs, excluding interest. Total noninterest expense was $0.8 million higher in the third quarter of 2025 relative to the third quarter of 2024, representing a 4% increase.

The primary drivers within noninterest expenses for the quarter-over-year comparison were personnel and occupancy costs. You see the breakdown of the year-over-year increase:

• Salaries and Benefits increased by $0.5 million, or 4%, compared to Q3 2024.
• Occupancy costs also contributed to the overall rise in noninterest expense.

The efficiency ratio, which compares these operating costs to revenue generation, improved to 58.0% in Q3 2025, down from 59.4% in the prior linked quarter. This shows Sierra Bancorp is getting more efficient at managing these operating costs relative to its income.

The Provision for Credit Losses saw a significant step-up, reflecting specific credit concerns. The provision for credit losses on loans for the third quarter of 2025 was $3.7 million, a substantial increase from $1.2 million reported in the third quarter of 2024. This increase was driven by a $2.5 million jump in the provision compared to the linked quarter (Q2 2025). Specifically, this was due to a $3.5 million specific reserve set aside for a single agricultural production property loan in the wine-grape industry. The total Allowance for Credit Losses (ACL) stood at $25.2 million at the end of Q3 2025. For the first nine months of 2025, the provision for credit losses increased by $4.6 million compared to the same period in 2024.

While specific dollar amounts for technology and general regulatory compliance costs aren't itemized in the summary data, regulatory metrics give you a sense of the compliance environment. For instance, the Regulatory Commercial Real Estate Concentration Ratio declined slightly to 242.7% during the third quarter.

Here's a summary of the key credit cost figures:

Credit Loss Metric	Amount (Q3 2025)	Comparison Point
Provision for Credit Losses on Loans	$3.7 million	Compared to $1.2 million in Q3 2024
Increase in Provision vs. Q2 2025	$2.5 million	Partially offset Net Income decline
Total Allowance for Credit Losses (ACL)	$25.2 million	As of September 30, 2025
Specific Reserve Driver	$3.5 million	For a single agricultural production loan

Finance: draft 13-week cash view by Friday.

Sierra Bancorp (BSRR) - Canvas Business Model: Revenue Streams

You're looking at the core ways Sierra Bancorp generates revenue as of late 2025. For a bank holding company like Sierra Bancorp, the primary engine is interest income derived from its balance sheet activities.

Net Interest Income (NII) remains the largest component. For the third quarter of 2025, Sierra Bancorp reported that its Net Interest Income grew by $1.3 million, which represents a 4% increase compared to the linked quarter (Q2 2025). This growth was supported by better asset yields and lower funding costs. The yield on the loan portfolio, a key driver of NII, showed improvement, moving to 5.36% in Q3 2025, up from 5.27% in the prior linked quarter.

The overall profitability picture for the year-to-date is clear. Sierra Bancorp achieved a consolidated net income of $29.4 million for the first nine months of 2025. This figure reflects the performance across all revenue streams before considering expenses and provisions.

Beyond the interest spread, Sierra Bancorp pulls in revenue from various noninterest sources. These streams are critical for diversifying income, especially in varying rate environments. You see revenue generated from:

• Service charges on deposit accounts.
• Fees associated with treasury services.
• Revenue tied to mortgage origination activities.

Management noted a 'high level of noninterest income relative to peers' during the Q3 2025 reporting period.

Here's a quick look at the key Q3 2025 performance indicators that feed into these revenue figures. The math shows a bank actively managing its asset yields and funding mix:

Metric	Value (Q3 2025)
Net Interest Income (NII)	$32.0 million
NII Growth (QoQ)	4%
Loan Yield	5.36%
Cost of Funds	1.45%
Net Interest Margin (NIM)	3.78%
Gross Loans	$2.5 billion

The efficiency ratio also factored into the net result, improving to 58.0% in Q3 2025 from 59.4% in the previous quarter. This means less operational cost was required to generate that revenue. Also, note that the bank proactively reduced higher-cost brokered deposits by $55 million in Q3 2025, which helped drive the cost of funds down to 1.45%. Finance: draft 13-week cash view by Friday.