SIERRA BANCORP AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
67
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)
2014
2013
(1)
2012
Dividend yield
2.08%
N/A
2.35%
Expected Volatility
25.01%
N/A
56.71%
Risk-free interest rate
0.01%
N/A
0.43%
Expected option life
4.0 years
N/A 5.5 years
(1)
No stock options were issued in 2013.
Years Ended December 31,
