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SIERRA BANCORP AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
For the Three Years Ended December 31, 2015
(dollars in thousands, except per share data)
Shares
Amount
Balance, January 1, 2013
14,106,959
64,384
$
2,660
$
103,128
$
173,892
$
Net Income
13,369
13,369
Other comprehensive loss, 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
Net Income
18,067
18,067
Other comprehensive loss, net of tax
(1,761)
Exercise of stock options and related
tax benefit
37,240
477
49
526
Stock compensation costs
35
35
Stock repurchase
(472,333)
(2,226)
(5,730)
(7,956)
Cash dividends - $.42 per share
(5,662)
(5,662)
Balance, December 31, 2015
13,254,088
62,404
$
2,689
$
122,701
$
190,340
$
Common Stock
Additional Paid In
Capital
Accumulated Other
Comprehensive Income
Retained Earnings
Shareholders' Equity
3,720
$
(3,291)
429
3,878
2,546
$
4,307
(1,761)
The accompanying notes are an integral part of these consolidated financial statements.