Sierra Bancorp Declares Quarterly Cash Dividend
January 21 2022 - 08:01AM
Business Wire
Sierra Bancorp (Nasdaq: BSRR), parent of Bank of the Sierra,
announced that its Board of Directors has declared a regular
quarterly cash dividend of $0.23 per share. This represents an
increase of $0.01 per share, or 5% relative to the dividend paid
last quarter. The dividend was approved subsequent to the Board’s
review of the Company’s financial performance and capital for the
quarter ended December 31, 2021, and will be paid on February 14,
2022 to shareholders of record as of January 31, 2022. Counting
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
through 1998 and quarterly dividends thereafter. The dividend noted
in today’s announcement marks the Company’s 92nd consecutive
quarterly cash dividend.
Sierra Bancorp is the holding company for Bank of the Sierra
(www.bankofthesierra.com), which is in its 45th year of operations
and is the largest independent bank headquartered in the South San
Joaquin Valley. Bank of the Sierra is a community-centric regional
bank, which offers a broad range of retail and commercial banking
services through full-service branches located within the counties
of Tulare, Kern, Kings, Fresno, Ventura, San Luis Obispo and Santa
Barbara. The Bank also maintains an online branch and provides
specialized lending services through an agricultural credit center,
an SBA center, and a loan production office in Roseville,
California. In 2021, Bank of the Sierra was recognized as one of
the strongest banks in the country with a 5-star rating from Bauer
Financial.
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 dividend payments or increase
dividend payouts to shareholders, the Company’s ability to generate
adequate financial results, our borrowers' actual payment
performance as loan deferrals related to the COVID-19 pandemic
expire, changes to statutes, regulations, or regulatory policies or
practices as a result of, or in response to COVID-19, including the
potential adverse impact of loan modifications and payment
deferrals implemented consistent with recent regulatory guidance,
the health of the national and local economies, the Company's
ability to attract and retain skilled employees, customers' service
expectations, the Company's ability to successfully deploy new
technology, the success of acquisitions and branch expansion,
closure or consolidation, changes in interest rates, loan portfolio
performance, and other factors detailed in the Company's SEC
filings, including the "Risk Factors" and "Management's Discussion
and Analysis of Financial Condition and Results of Operations"
sections of the Company's most recent Form 10-K and Form 10-Q.
Category: Financial Source: Sierra Bancorp
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version on businesswire.com: https://www.businesswire.com/news/home/20220121005063/en/
Contact: Kevin McPhaill, President/Chief Executive Officer
Phone: (559) 782-4900 or (888) 454-BANK Website Address:
www.sierrabancorp.com
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