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Report of Independent Registered Public Accounting Firm
Board of Directors
Sierra Bancorp and Subsidiary
Porterville, California
We have audited the accompanying consolidated balance sheets of Sierra Bancorp and Subsidiary (the “Company”) as
of December 31, 2015 and 2014, and the related consolidated statements of income, comprehensive income, changes
in shareholders' equity and cash flows for each of the three years in the period ended December 31, 2015. These
consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express
an opinion on these consolidated financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United
States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used
and significant estimates made by management, as well as evaluating the overall financial statement presentation. We
believe that our audits provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the finan-
cial position of Sierra Bancorp and Subsidiary as of December 31, 2015 and 2014, and the results of its operations,
changes in its shareholders' equity, and its cash flows for each of the three years in the period ended December 31,
2015, in conformity with generally accepted accounting principles in the United States of America.
We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United
States), the Company’s internal control over financial reporting as of December 31, 2015, based on criteria established
in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Tread-
way Commission and our report dated March 11, 2016 expressed an unqualified opinion thereon.
/s/ Vavrinek, Trine, Day & Co., LLP
Rancho Cucamonga, California
March 11, 2016