BSRR Sierra Bancorp

PORTERVILLE, Calif., July 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 $0.16 per share, which is a 7% increase relative to the dividend paid last quarter and is 14% higher than the $0.14 quarterly dividend paid a year ago. The dividend will be paid on August 21, 2007 to shareholders of record as of August 7, 2007. "The increase in the dividend for this quarter is reflective of our robust financial performance, and provides an attractive cash reward to loyal shareholders," explained James C. Holly, President and CEO. "While the dividend payment is higher, the impact of the increase on our capital ratios will be minimal and growth plans remain on track," he noted further. 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 21 branch offices, an agricultural credit center, an SBA center, and an online "virtual" branch. In April 2007, Sierra Bancorp was ranked as the 10th 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 +1-888-454-BANK Web site: http://www.bankofthesierra.com/

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