BSRR Sierra Bancorp

PORTERVILLE, Calif., Jan. 19 /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 $0.15 per share, which is an increase of 7%, or $0.01 per share, relative to the dividend paid last quarter, and is 15% higher than the $0.13 quarterly dividend paid a year ago. The dividend will be paid on February 15, 2007 to shareholders of record as of February 1, 2007. "We feel that the increase is warranted by our record financial performance for 2006," noted James C. Holly, President and CEO. "Furthermore, the approved dividend keeps our dividend payout ratio at a relatively attractive level to reward loyal shareholders, while still preserving enough equity to allow us to capitalize on current expansion opportunities," he added. Sierra Bancorp is the holding company for Bank of the Sierra ( http://www.bankofthesierra.com/ ), which is in its 30th year of operations and is the largest independent bank headquartered in the South San Joaquin Valley. The Company has over $1.2 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, +1-559-782-4900, or 888-454-BANK, both of Sierra Bancorp Web site: http://www.sierrabancorp.com/

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