Porterville, CA – October 20, 2017 – 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.
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.