Sierra Bancorp Declares $0.14 Quarterly Cash Dividend
October 20 2006 - 1:15PM
PR Newswire (US)
PORTERVILLE, Calif., Oct. 20 /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 $0.14 per share, which is 17% higher
than the $0.12 quarterly dividend paid a year ago. The dividend
will be paid on November 15, 2006 to shareholders of record as of
November 1, 2006. "The Company has paid cash dividends every year
for the past 20 years," noted James C. Holly, President and CEO.
"It is our stated mission to sustain superior financial
performance, which should allow us to fulfill our stewardship to
shareholders and continue to reward them with a cash return," he
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 $1.17 billion in total
assets and currently maintains twenty branch offices, an
agricultural credit center, and an SBA center. In September 2006,
Sierra Bancorp was ranked as the 13th best performing mid-tier bank
in the nation by U.S. Banker magazine, 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 888-454-BANK Web site:
http://www.bankofthesierra.com/
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