Sierra Bancorp Declares Quarterly Cash Dividend
October 19 2007 - 12:02PM
PR Newswire (US)
PORTERVILLE, Calif., Oct. 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 $0.16 per share, which is 14% higher
than the $0.14 quarterly dividend paid a year ago. The dividend
will be paid on November 15, 2007 to shareholders of record as of
November 1, 2007. "We are pleased once again to be able to announce
an attractive dividend fitting of our continued solid financial
performance," stated James C. Holly, President and CEO. 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 Kevin
McPhaill, EVP-Chief Banking Officer, both of Sierra Bancorp,
+1-559-782-4900, or 1-888-454-BANK Web site:
http://www.sierrabancorp.com/ http://www.bankofthesierra.com/
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