Sierra Bancorp Declares $0.13 Quarterly Cash Dividend
April 21 2006 - 1:26PM
PR Newswire (US)
PORTERVILLE, Calif., April 21 /PRNewswire-FirstCall/ -- Sierra
Bancorp (NASDAQ:BSRR), parent of Bank of the Sierra, today
announced that its Board of Directors has declared a regular
quarterly cash dividend of $0.13 per share, which is 18% above the
quarterly dividend paid a year ago. The dividend will be paid on
May 19, 2006 to shareholders of record as of May 5, 2006. "We are
pleased to be able, once again, to provide a substantive monetary
return to our shareholders," stated James C. Holly, President and
CEO. "A consistently high level of financial performance
facilitates our continued independence and our ability to generate
superior returns for our shareholders, and is consistent with the
stewardship responsibilities outlined in our mission statement,"
Holly added. Sierra Bancorp is the holding company for Bank of the
Sierra (http://www.bankofthesierra.com/), which is in its 29th year
of operations and is the largest independent bank headquartered in
the South San Joaquin Valley. The Company has over $1.1 billion in
total assets and currently maintains twenty branch offices, an
agricultural credit center, and an SBA center. In June 2005, Sierra
Bancorp was added to the Russell 2000 index based on relative
growth in market capitalization. In its July 2005 edition, US
Banker magazine ranked Sierra Bancorp as the nation's 8th best
performing publicly-traded community bank based on three-year
average return on equity. The statements contained in this release
that are not historical facts are forward-looking statements based
on management's current expectations and beliefs concerning future
developments and their potential effects on the Company. Readers
are cautioned not to unduly rely on forward-looking statements.
Actual results may differ from those projected. These
forward-looking statements involve risks and uncertainties
including but not limited to the bank's ability to maintain current
dividend payments or increase dividend payouts to shareholder, its
ability to continue to generate record financial results, changes
in economic conditions, interest rates and loan portfolio
performance, and other factors detailed in the Company's SEC
filings. Sierra Bancorp undertakes no responsibility to update or
revise any forward-looking statements. DATASOURCE: Sierra Bancorp
CONTACT: Ken Taylor, EVP/CFO, or Hope Attenhofer, SVP/Marketing
Director, both of Sierra Bancorp, +1-559-782-4900, or
1-888-454-BANK Web site: http://www.bankofthesierra.com/ Web site:
http://www.sierrabancorp.com/
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