Sierra Bancorp Annual Report and 10-K 2014 - page 5

Vision II Tulare County
†ubm] |_; ƐƖѶƏĽv ‰; 1omঞm†;7 |o ]uo‰ o†u -mh
‰;ѴѴ 0;‹om7 |_; vbŒ; bmbঞ-ѴѴ‹ ;mˆbvbom;7ĺ m ƐƖѶѶ ‰;
or;m;7 - 0u-m1_ oL1; bm |_; b|‹ o= Š;|;uķ o†u Cuv|
;Šr-mvbom o†| o= o†u bmbঞ-Ѵ -u;-ķ -m7 7bv1oˆ;u;7 |_-|
consumers and businesses from all parts of the County
o= $†Ѵ-u; ‰;u; 1olbm] |o o†u -mh ;ˆ;m |_o†]_ |_;‹
had community banks where they lived. From there we
v|-u|;7 0†bѴ7bm] - o†m|‹Ŋ‰b7; 0-mh 0‹ or;mbm] m;‰
oL1;vķ -m7 bm7;;7 |o7-‹ ‰; _-ˆ; |_; Ѵ-u];v| 7;rovb|
0-v; bm $†Ѵ-u; o†m|‹ķ ;Š1;;7bm] -mh o= l;ub1- Չ_o
0‹ |_bv ঞl; -1t†bu;7 ";1†ub|‹ -1bC1ő ‰_o bv bm v;1om7ķ
);ѴѴv -u]o bv bm - 7bv|-m| |_bu7 rѴ-1;ķ -m7 |_;m - _ov| o=
o|_;u 0-mhv =oѴѴo‰ĺ ou †v |_bv ‰-v - vb]mbC1-m| -11ol-
rѴbv_l;m| -m7 o†uv bv rovvb0Ѵ‹ |_; omѴ‹ o†m|‹ o= vbŒ;
in California where the community bank has the lead
market share.
(bvbom "o†|_;um "-m o-t†bm (-ѴѴ;‹
v ‰; ]o| bm|o |_; Ѵ-|; ƐƖƖƏĽv ‰; moঞ1;7 |_-| |_; 1ol-
l†mbঞ;v bm 0o|_ u;vmo o†m|‹ |o |_; mou|_ o= †v -m7
;um o†m|‹ |o |_; vo†|_ o= †v _-7 Ѵov| lov| ou -ѴѴ o=
their community banks and we concluded that there
‰-v uool =ou †v bm 0o|_ rѴ-1;vĺ
mbঞ-ѴѴ‹ ‰; vblrѴ‹
or;m;7 m;‰ oL1;v -m7 0uo†]_| o†u 0†vbm;vv lo7;Ѵ
-m7 ‰-‹ o= 7obm] 0†vbm;vv -m7 l;| ‰b|_ ]oo7 v†11;vv
bm 0o|_ o†mঞ;vĺ m |_; ‹;-u ƑƏƏƏ ‰; l-7; o†u Cuv|
-1t†bvbঞom 0‹ 0†‹bm] "b;uu- -ঞom-Ѵ -mh Ѵo1-|;7 bm
|_; ;um o†m|‹ b|‹ o= $;_-1_-rb -m7 0‹ vo 7obm]
-1t†bu;7 =o†u 0u-m1_;v bm1Ѵ†7bm] - h;‹ Ѵo1-ঞom bm
-h;uvC;Ѵ7ĺ $_-| ‰-v o†u Cuv| 0-mh -1t†bvbঞom -Ѵ|_o†]_
‰; _-7ķ bm ƐƖƖƕķ 0o†]_| - 0u-m1_ =uol );ѴѴv -u]o bm
|_; b|‹ o= bm†0-ĺ ‰o†Ѵ7 mo|; |_-| ‰; Cm-m1;7 |_bv
;Šr-mvbom |_uo†]_ |_; bm|;um-Ѵ ];m;u-ঞom o= 1-rb|-Ѵĺ
m |_bv r_-v; ‰; -Ѵvo 1omঞm†;7 |o or;m m;‰ 0u-m1_;v
-m7 1omঞm†;7 o†u ;Šr-mvbom ;@ou|v |_uo†]_o†| |_;
"o†|_;um "-m o-t†bm (-ѴѴ;‹ĺ
Vision IV Southern California and the Central
California Coast
); 1omঞm†;7 om ‰b|_ (bvbom |_uo†]_ |_; u;-|
!;1;vvbom o= ƑƏƏѶ ‰_b1_ =ou -ѴѴ o= †v ‰-v 7;0bѴb|-ঞm]ĺ
However I would say that in spite of economic down-
7u-[ķ ‰; 1omঞm†;7 |o ];m;u-|; m;| bm1ol; ;ˆ;u‹ ‹;-uķ
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