PORTERVILLE, Calif.,
Oct. 20, 2017 /PRNewswire/
-- Sierra Bancorp (Nasdaq:BSRR), parent of Bank of the Sierra,
today announced that its Board of Directors has declared a regular
quarterly cash dividend of $0.14 per
share. The dividend was approved subsequent to the Board's
review of the Company's financial performance and capital strength
for the quarter ended September 30,
2017. It will be paid on November 16,
2017 to shareholders of record as of November 2, 2017. Including dividends paid
by Bank of the Sierra prior to the formation of Sierra Bancorp, the
Company has paid regular cash dividends to shareholders every year
since 1987, comprised of annual dividends from 1987 through 1998
and quarterly dividends since then. The dividend noted in
today's announcement marks the Company's 75th
consecutive regular quarterly cash dividend.
Sierra Bancorp is the holding company for Bank of the Sierra
(www.bankofthesierra.com), a community-centric regional bank which
is in its 40th year of operations and has grown to be
the largest independent bank headquartered in California's South San Joaquin Valley.
On October 1, 2017, the Company
acquired OCB Bancorp and merged Ojai Community Bank into Bank of
the Sierra, thereby expanding its coverage to the communities of
Ojai, Ventura, and Santa
Barbara, California, and enhancing operations in the city of
Santa Paula. Subsequent to the merger we have over
$2.3 billion in assets, and offer a
broad range of retail and commercial banking services via
full-service branches located throughout the South Valley, the
Central Coast, Ventura County, and
neighboring communities. We also maintain an online branch,
and provide specialized lending services through our agricultural
credit center, real estate industries center, and SBA center.
Forward-Looking Statements
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 Company's ability to
maintain current dividend payments or increase dividend payouts to
shareholders, the Company's ability to generate adequate 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.
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SOURCE Sierra Bancorp