Sierra Bancorp Announces Its Inclusion in the New NASDAQ Global Select Market
July 03 2006 - 3:52PM
PR Newswire (US)
The Market With the Highest Initial Listing Standards in the World
PORTERVILLE, Calif., July 3 /PRNewswire-FirstCall/ -- Sierra
Bancorp (NASDAQ:BSRR) parent of Bank of the Sierra today announced
that it is included in the new NASDAQ Global Select Market. The
NASDAQ Global Select Market has the highest initial listing
standards of any exchange in the world based on financial and
liquidity requirements. Prior to the change, the company had been
listed on the NASDAQ National Market. Beginning July 3,
NASDAQ-listed companies will be classified under three listing
tiers -- NASDAQ Global Select Market, NASDAQ Global Market, and
NASDAQ Capital Market. NASDAQ also plans to launch indexes based on
these new tiers. "Sierra Bancorp is an example of an industry
leader that has achieved superior listing standards, which clearly
defines the essence of the NASDAQ Global Select Market," said Bruce
Aust, Executive Vice President, of NASDAQ. "NASDAQ is focused on
leading a race to the top in terms of listing qualifications. In
recognizing these companies, we are highlighting their achievement
in meeting the requirements to be included in the market with the
highest listing standards in the world," added Mr. Aust. NASDAQ
announced the new three tier listing classification in February
2006. All three market tiers will maintain rigorous listing and
corporate governance standards. For additional information about
the NASDAQ Global Select Market, please go to:
http://www.nasdaq.com/GlobalSelect. About Sierra Bancorp 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. About NASDAQ NASDAQ is the largest U.S.
electronic stock market. With approximately 3,200 companies, it
lists more companies and, on average, trades more shares per day
than any other U.S. market. It is home to companies that are
leaders across all areas of business including technology, retail,
communications, financial services, transportation, media and
biotechnology. NASDAQ is the primary market for trading
NASDAQ-listed stocks. For more information about NASDAQ, visit
http://www.nasdaq.com/ or the NASDAQ Newsroom at
http://www.nasdaq.com/newsroom/. 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 health of the
national and California economies, the Company's ability to attract
and retain skilled employees, customers' service expectations, the
Company's ability to successfully de ploy new technology and gain
efficiencies there from, the success of branch expansion, changes
in interest rates, loan portfolio performance, the Company's
ability to secure buyers for foreclosed properties, and other
factors detailed in the Company's SEC filings. DATASOURCE: Sierra
Bancorp CONTACT: Ken Taylor, EVP/CFO of Sierra Bancorp,
+1-559-782-4900, or 888-454-BANK Web site: http://www.nasdaq.com/
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