57
SIERRA BANCORP AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
For the Three Years Ended December 31, 2014
(dollars in thousands, except per share data)
Shares
Amount
Balance, January 1, 2012
14,101,609
64,321
$
2,221
$
98,174
$
168,564
$
Net Income
8,185
8,185
Other comprehensive income, net of tax
(128)
Reversal of cumulative effect of change
in accounting principle (EITF 06-4)
154
154
Exercise of stock options and related
tax benefit
5,350
63
(48)
15
Stock compensation costs
487
487
Cash dividends - $.24 per share
(3,385)
(3,385)
Balance, December 31, 2012
14,106,959
64,384
2,660
103,128
173,892
Net Income
13,369
13,369
Other comprehensive income, net of tax
(3,291)
Exercise of stock options and related
tax benefit
110,240
1,396
(280)
1,116
Stock compensation costs
268
268
Cash dividends - $.26 per share
(3,680)
(3,680)
Balance, December 31, 2013
14,217,199
65,780
2,648
112,817
181,674
Net Income
15,240
15,240
Other comprehensive income, net of tax
3,878
Exercise of stock options and related
tax benefit
95,330
1,300
(224)
1,076
Stock compensation costs
181
181
Stock repurchase
(623,348)
(2,927)
(7,256)
(10,183)
Cash dividends - $.34 per share
(4,775)
(4,775)
Balance, December 31, 2014
13,689,181
64,153
$
2,605
$
116,026
$
187,091
$
Common Stock
Additional Paid In
Capital
Accumulated Other
Comprehensive Income
Retained Earnings
Shareholders' Equity
3,848
$
(128)
3,720
(3,291)
4,307
$
429
3,878
The accompanying notes are an integral part of these consolidated financial statements
