Sierra Bancorp · NASDAQ:BSRR
Sierra Bancorp — Janney West Coast CEO Forum 2026
26 slides from Sierra Bancorp's conference presentation, Feb 4, 2026
Slide 1: Investor Presentation - Janney West Coast CEO Forum
INVESTOR PRESENTATION JANNEY WEST COAST CEO FORUM FEBRUARY 4 - 5, 2026 SCOTTSDALE, ARIZONA
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of Sierra Bancorp’s management and are: • subject to contingencies & uncertaintie
Slide 3: Introduction
SIERRA BANCORP Parent Company for Bank of the Sierra INTRODUCTION
Slide 4: Sierra Bancorp Overview
SIERRA BANCORP OVERVIEW SIERRA BANCORP CENTRAL CALIFORNIA COMPANY BACKGROUND (NASDAQ: BSRR) BASED 34 branches Bank of the Sierra opened in Porterville, located CA in 1978 as a single-branch bank Recent Stock Price1: $34.55 throughout California’s Sierra Bancorp was formed as the holding Central comp
Slide 5: Strategic Objectives
STRATEGIC OBJECTIVES PROFITABILITY PEOPLE PROCESS & TECHNOLOGY Be a top Enhance performing bank Attract and retain customer with 10% the best talent experience annualized EPS across all growth touchpoints 5
Slide 6: Strategic Tactics
STRATEGIC TACTICS PROFITABILITY PEOPLE PROCESS & TECHNOLOGY Management believes it can achieve 10% Foster a work environment that attracts Elevate the customer experience across EPS by utilizing a 5-2-0 model for growth and retains high-performing individuals all touchpoints of margin, noninterest i
Slide 7: Company Culture
COMPANY CULTURE Make Every Community We’re a Part of Better Keep Thinking Anticipate and meet needs with a broad range of solutions Keep Serving Provide quality service on a timely, competitive basis Keep Learning Be passionate about being the right person on the team Keep Growing Encourage creativi
Slide 8: Investment Considerations
SIERRA BANCORP Parent Company for Bank of the Sierra INVESTMENT CONSIDERATIONS
Slide 9: Investment Considerations
INVESTMENT CONSIDERATIONS Bank of the Sierra is the premier community bank in California’s South-Central Valley • Granular deposit base with approximately 120,000 customer accounts across 34 branches Excellent Core • Anchored by approximately 35% noninterest bearing deposits driving a consistent low
Slide 10: Proactive Capital Management
INVESTMENT CONSIDERATIONS PROACTIVE CAPITAL MANAGEMENT EPS STOCK DIVIDEND ACCRETION REPURCHASE YIELD RATE YTD 10% 3% 7% For the twelve months ended December 31, 2025 Focused on building strong long-term value as demonstrated by a combined 20% in 2025 10
Slide 11: Tangible Common Equity
TANGIBLE COMMON EQUITY Period-End Ratios 12% $30.00 $25.42 11% $25.00 TANGIBLE BOOK VALUE PER SHARE ($) $23.15 TANGIBLE COMMON EQUITY RATIO $21.73 $20.91 9.93% 10% $20.00 $18.06 9.18% 8.88% 9% $15.00 8.36% 8.99% 8.62% 8.44% 8% 7.65% $10.00 8.05% 7.48% 7% $5.00 6% $- 12/31/2021 12/31/2022 12/31/2023
Slide 12: Financial Highlights and Trends
FINANCIAL HIGHLIGHTS AND TRENDS
Slide 13: Financial Highlights
FINANCIAL HIGHLIGHTS For the fourth quarter of 2025 • Record quarterly earnings of $12.9 million as compared to $10.4 million for the same period in 2024. • Return on average assets improved to 1.39% as compared to 1.13% for the same period in 2024. Strong • Return on average equity increased to 14.
Slide 14: Financial Trends
FINANCIAL TRENDS 5% 70.00% 63.90% 59.92% 60.15% 60.76% 58.91% 60.00% 4% 50.00% 3.70% ROAA AND NIM RATIOS 3.51% 3.60% EFFICIENCY RATIO 3.40% Tax-Equivalent 3% 3.28% NIM: 3.75% 40.00% 30.00% 2% 1.29% 20.00% 1.12% 1.15% 0.97% 0.94% 1% 10.00% 0% 0.00% 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/20
Slide 15: Compound Annual Growth Rates
COMPOUND ANNUAL GROWTH RATES Since December 31, 2019 TOTAL LIABILITIES DEPOSITS EQUITY 7% 5% 3% 15
Slide 16: Strong Low-Cost Deposit Mix
STRONG LOW-COST DEPOSIT MIX ($ in thousands) $2,781,572 $2,846,164 $2,761,223 $2,891,668 $2,876,436 The above excludes customer repurchase agreements, which were $131 million at year-end 2025. 16
Slide 17: Personal/Non-Personal Deposits
PERSONAL/NON-PERSONAL DEPOSITS ($ in thousands) $1,200,000 $1,400,000 $1,110,945 $983,247 $1,200,000 $1,000,000 $1,106,077 $977,064 $1,000,000 $800,000 $800,000 $600,000 $462,153 $600,000 $533,577 $400,000 $320,090 $400,000 $274,950 $200,000 $200,000 $- $- PERSONAL Non- NON-PERSONAL BROKERED TIME DE
Slide 18: Compound Annual Growth Rates
COMPOUND ANNUAL GROWTH RATES Since December 31, 2019 TOTAL ASSETS LOANS INVESTMENTS 7% 6% 7% 18
Slide 19: Loan Portfolio Composition
LOAN PORTFOLIO COMPOSITION Period End Balances ($ in thousands) 12/31/2025 9/30/2025 12/31/2025 12/31/2025 9/30/2025 Outstanding Outstanding Total % of 30-89 Allowance Coverage Allowance Coverage Loan Segment Balance ($) Balance ($) Variance ($) Portfolio NPL % Days DQ % Balance ($) Ratio (%) Balanc
Slide 20: Diversified Real Estate Portfolio
DIVERSIFIED REAL ESTATE PORTFOLIO Total Real Estate Portfolio: CRE Non-Owner Occupied $1,833,125 Breakout Retail 33% CRE Non-Owner Occupied Warehouse/ 51% Industrial Other Residential Real 15% 11% Estate 20% Office 16% Hospitality Farmland 25% 4% Multifamily 7% CRE Owner Occupied Construction 17% 1%
Slide 21: Loan Portfolio Activity
LOAN PORTFOLIO ACTIVITY ($ in thousands) Loan Rollforward Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Gross loans Beginning balance $ 2,320,629 $ 2,331,341 $ 2,306,762 $ 2,434,605 $ 2,491,779 New credit extended 79,934 66,370 48,147 48,065 26,794 Loan Purchases - - - - - Changes in line of credit utiliz
Slide 22: Asset Quality Trends
ASSET QUALITY TRENDS Ratios 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 Classified Loans/Gross Loans 1.67% 2.38% 1.71% 1.91% 1.23% NPLs/Gross Loans 0.23% 0.95% 0.38% 0.84% 0.52% NPAs/Total Assets 0.14% 0.54% 0.21% 0.54% 0.39% 30-89 Past Dues/Gross Loans 0.10% 0.06% 0.01% 0.06% 0.27% Net C
Slide 23: Mortgage Warehouse Trends
MORTGAGE WAREHOUSE TRENDS R eAverage t u r n o n Daily A v e r aBalances ge Assets R e t u r n o n A v eand Commitments r a g eUtilization Equity $400 $380 $900 100% In millions ($) In millions ($) $350 $800 $766 90% $700 $660 80% $300 $638 $258 70% $600 $250 68% 60% $500 $200 50% $378 $373 $148 $40
Slide 24: Investment Portfolio Composition
INVESTMENT PORTFOLIO COMPOSITION Based on Period End Balances – Fair Value ($ in thousands) U.S. Government U.S. Government Agencies Mortgage- Agencies Mortgage-Backed Backed 4% Securities 6% Securities 40% 22% Municipal Bonds 22% Collateralized Loan Municipal Obligations Bonds Collateralized Loan 2
Slide 25: Executive Leadership
EXECUTIVE LEADERSHIP Kevin McPhaill Christopher Treece Hugh Boyle President and Chief Executive Officer EVP and Chief Financial Officer EVP and Chief Credit Officer Joined Company in 2001; CEO since 2015 Joined Company in 2020 Joined Company in 2020 35 years of Banking Experience 34 years of Banking
Slide 26: Keep Climbing - Company Contacts
KEEP CLIMBING NASDAQ: BSRR COMPANY CONTACTS: Kevin McPhaill, President & CEO, [email protected] Christopher Treece, EVP & CFO, [email protected]