PORTERVILLE, Calif.,
Dec. 18, 2014 /PRNewswire/
-- Sierra Bancorp, the holding company for Bank of the
Sierra, today announced
Michael Olague will assume the
position of Executive Vice President, Chief Banking Officer of
Sierra Bancorp and the Bank, on January 1,
2015. In his new role, Olague will lead the Bank's team of
Market Presidents, oversee branch loan and deposit growth
objectives, and work closely with the Board and President to assist
in merger and acquisition activities.
With more than 37 years of banking experience, Olague has become
a well established banking figure in the Bakersfield Area. Prior to this promotion,
Olague held the position of Senior Vice President and Area Manager
for Bank of the Sierra's
Bakersfield and Delano markets. Olague is a graduate of
California State University Bakersfield
and completed Graduate Banking School at the University of Virginia. As an active member of the
Bakersfield community, Olague
currently sits on the boards of the Boys and Girls Club, San
Joaquin Hospital Foundation, Kern County Cancer Fund, Mid-State
Development Corporation, and the CSUB Business School Advisory
Board.
"We are truly excited about this transition," stated
Kevin McPhaill, Bank of the Sierra
President and Chief Operating Officer. "Mike was an asset to Bank
of the Sierra in his prior role as
Area Manager, and we are confident in his abilities as he moves
into the role of Chief Banking Officer."
As announced in a release on October 23,
2014, James C. Holly, will
retire as Chief Executive Officer of Sierra Bancorp and the Bank on
March 31, 2015. Following Holly's
retirement, and as part of the Board of Director's management
succession plan, McPhaill will assume the position of President and
Chief Executive Officer on April 1,
2015.
Sierra Bancorp (NASDAQ: BSRR) is the holding company
for Bank of the Sierra
(www.bankofthesierra.com), which is in its 37th year of
operations and at $1.6 billion in
assets is the largest independent bank headquartered in the South
San Joaquin Valley. The Company has over 400 employees and
conducts business through 28 branch offices, an online branch, a
real estate industries center, and an agricultural credit
center.
The statements contained in this release that are not
historical facts are forward-looking statements based on
management's current expectations and beliefs concerning future
developments and their potential effects on the Company.
Readers are cautioned not to unduly rely on forward looking
statements. Actual results may differ from those
projected. These forward-looking statements involve risks and
uncertainties including but not limited to the bank's ability to
maintain current dividend payments or increase dividend payouts to
shareholder, its ability to continue to generate record financial
results, changes in economic conditions, interest rates and loan
portfolio performance, and other factors detailed in the
Company's SEC filings. Sierra Bancorp undertakes no
responsibility to update or revise any forward-looking
statements.
Logo - http://photos.prnewswire.com/prnh/20141219/165439LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/sierra-bancorp-announces-new-evpchief-banking-officer-300012338.html
SOURCE Sierra Bancorp