BSRR Sierra Bancorp

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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