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SIERRA BANCORP Parent Company for Bank of the Sierra FOR IMMEDIATE RELEASE Date : Contact : Phone : Website Address : July 19 , 2021 Kevin McPhaill , President / CEO ( 559 ) 782-4900 or ( 888 ) 454 - BANK www.sierrabancorp.com Exhibit 99.1 • • SIERRA BANCORP ANNOUNCES RECORD QUARTERLY AND YEAR TO DATE EARNINGS Record net income of $ 11.7 million and $ 22.8 million for the three and six months ended 6/30/2021 , respectively , compared to $ 8.3 million and $ 16.1 million for the three and six months ended 6/30/2020 . Return on average assets improved to 1.42 % for the second quarter of 2021 , as compared to 1.19 % for the same quarter in 2020 , and 1.40 % for the prior linked quarter . Return on average equity increased to 13.29 % for the second quarter of 2021 , as compared to 10.30 % for the same quarter of 2020 and 12.94 % for the prior linked quarter . Core non - maturity deposits increased by $ 52.5 million , or 2.2 % , during the second quarter of 2021 and have increased by $ 283.4 million , or 13.4 % , during the first six months of 2021 Porterville , CA - July 19 , 2021 – Sierra Bancorp ( Nasdaq : BSRR ) , parent of Bank of the Sierra , today announced its unaudited financial results for the three - and six - month periods ended June 30 , 2021. Sierra Bancorp reported consolidated net income of $ 11.7 million , or $ 0.76 per diluted share , for the second quarter of 2021 , compared to $ 8.3 million , or $ 0.54 per diluted share , in the second quarter of 2020 . For the first six months of 2021 , the Company recognized net income of $ 22.8 million as compared to $ 16.1 million for the same period in 2020. The Company's financial performance metrics for the first half of 2021 include an annualized return on average equity of 13.11 % , a return on average assets of 1.41 % , and diluted earnings per share of $ 1.48 . " We are pleased to report another quarter of record earnings ! " , stated Kevin McPhaill , President and CEO . " Our strong results in the second quarter of 2021 are thanks to the continued hard work and persistence of our banking team . While we anticipate headwinds during the second half of this year due to historically low interest rates and competitive pressures , our core earnings engine remains strong , and our team is committed to meeting these challenges . We will continue to look for additional opportunities and we are excited about the future of Bank of the Sierra !, " McPhaill concluded . Financial Highlights Quarterly Changes ( comparisons to the second quarter of 2020 ) • The change in quarterly net income was primarily due to a $ 2.1 million negative provision for loan and lease losses . This significant decrease is attributable to the impact of continued improvements in the overall economy , lower historical loss rates , net recoveries during the past two quarters , and a $ 272.7 million decrease in average balances of net loans and leases . Net interest income increased $ 3.0 million , or 13 % , due primarily to increases in average loan balances and a lower cost of funds . Year to - Date Changes ( comparisons to the first six - months of 2020 ) Net income increased by $ 6.7 million due mostly to a $ 1.9 million negative provision for loan and lease losses , attributed to the same reasons as noted above in the quarterly comparison .