SIERRA BANCORP (BSRR) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Interest income:
Interest income on loans	86.7	99.2	96.2	95.9	87.8	68.2	57.5	51.5
Interest income on investments	34.6	13.5	13.9	14.7	13.6	12.3	10.9	11.1
Interest income on repurchase agreements	0.5	0.4	0.2	0.4	0.2	0.4	0.1	0.0
	121.8	113.1	110.2	110.9	101.6	80.9	68.5	62.7
Interest expense:
Interest on deposits	6.8	2.4	3.9	11.4	7.3	3.8	2.2	1.8
	29.6	9.5	13.5	36.7	24.0	12.8	3.3	2.6
Net interest income	109.6	109.0	104.8	97.4	92.4	75.7	65.2	60.1
Provision for loan losses		-3.7	8.6	2.6	4.4	-1.1
Net interest income after provision for loan losses	109.6	112.7	96.3	94.8	88.0	76.8	65.2	60.1
Deposit and loan fees								9.4
Gain on sale of investments, net								0.7
Other non-interest income	30.8	28.1	26.2	23.5	21.6	21.8	19.2	7.7
Total non-interest income	30.8	28.1	26.2	23.5	21.6	21.8	19.2	17.7
Non-interest expenses	84.8	83.6	75.9	70.6	70.0	65.4	58.1	50.7
Pre-tax income before non-recurring items	44.9	57.2	46.5	47.7	40.0	35.4	28.8	27.2
Non-recurring items				0.0	0.4	2.2	2.4	0.1
Pre-tax income	44.9	57.2	46.5	47.7	39.6	33.2	26.4	27.1
Income taxes	11.3	14.2	11.1	11.8	9.9	13.6	8.8	9.1
Tax rate	25.1%	24.8%	23.8%	24.6%	25.0%	41.1%	33.4%	33.4%
Net income	33.7	43.0	35.4	36.0	29.7	19.5	17.6	18.1
Net margin	24.0%	30.6%	28.9%	30.4%	27.1%	19.8%	20.8%	23.2%

Basic EPS	$2.25	$2.82	$2.33	$2.35	$1.94	$1.38	$1.30	$1.34
Diluted EPS	$2.24	$2.80	$2.32	$2.33	$1.92	$1.36	$1.29	$1.33

Shares outstanding (basic)	15.0	15.2	15.2	15.3	15.3	14.2	13.5	13.5
Shares outstanding (diluted)	15.0	15.4	15.3	15.4	15.4	14.4	13.7	13.6

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.