Item 1.
Security and Issuer
This Schedule 13D relates to shares
of Common Stock of Sierra Bancorp, a California corporation (the "Issuer"),
whose principal executive office is located at 86 North Main Street,
Porterville, California 93257.
Item 2. Identity and background
This Statement is filed by Patricia L. Childress ("Ms. Childress" or
"Reporting Person Childress") and Carol A. Bates ("Ms Bates" or "Reporting
Person Bates"). Ms. Childress and Ms. Bates are collectively referred to
herein as the "Reporting Persons."
a. Name: Patricia L. Childress
b. Address: 356 North Porter Road, PMB #148, Porterville,
California 93257
c. Occupation: Retired
d. Criminal Convictions during the last 5 years:
None
e. Securities Civil Proceedings during the last 5 years:
None
f. Citizenship: USA
a. Name: Carol A. Bates
b. Address: 30731 Highway 190, Porterville,
California 93257
c. Occupation: Farmer
d. Criminal Convictions during the last 5 years:
None
e. Securities Civil Proceedings during the last 5 years:
None
f. Citizenship: USA
Item 3. Source and Amount of Funds or Other
Consideration
N/A
Item 4. Purpose of Transaction
On December 28, 2007, the Reporting Person
Childress sent a letter to the Company informing the Company's Board of
Directors of her intention to nominate herself for election to the Board of
Directors of the Company. (Exhibit 99.1 hereof.) To secure such a position,
Reporting Person Childress recently concluded that a solicitation of proxies
is necessary and intends to solicit proxies through the distribution of her
own proxy statement. Accordingly, she shall soon file her preliminary proxy
statement with the SEC.
In connection with the above, on March 14,
2008, Reporting Person Bates agreed with Reporting Person Childress to vote
her shares for the election of Ms. Childress and to provide financial and
personal assistance to further this goal. See response to Item 6 below. As a
result of this agreement, Reporting Persons are deemed to have the purpose of
"changing or influencing control" of Sierra Bancorp.
Except
as described above in this Item 4 and herein, Reporting Persons have no
specific plans or proposals that relate to or would result in any of the
actions or events specified in clauses (a) through (j) of Item 4 of Schedule
13D.
Item 5. Interest in Securities
of the Issuer
The following information is based on
9,576,388 shares of Issuer's Common Stock outstanding according to the
Issuer's report on Form 8-K filed on January 23, 2008:
(a)
The aggregate number of shares of the Issuer's Common Stock
beneficially owned by each Reporting Person covered by this statement is as
follows:
Name
|
|
Number of Shares
|
|
Percentage
|
|
Patricia Childress
|
|
665,615
|
|
7.0
|
%
|
Carol Bates
|
|
549,124
|
|
5.7
|
%
|
|
|
|
|
|
|
(b)
(1) Number of shares
as to which Ms. Childress has:
(i) Sole power to
vote or to direct the vote:
632,942
(ii) Shared power
to vote or to direct the vote:
32,673
(iii) Sole power
to dispose or to direct the disposition of:
649,048
(iv) Shared power
to dispose or to direct the disposition of:
6,000
(2) Number of shares
as to which Ms. Bates has:
(i) Sole power to
vote or to direct the vote:
516,451
(ii) Shared power
to vote or to direct the vote:
32,673
(iii) Sole power
to dispose or to direct the disposition of:
527,018
(iv) Shared power to
dispose or to direct the disposition of:
6,000
(c) Other than as set forth in response to Item 4 above, during the
past 60 days the Reporting persons have neither purchased
nor
sold any shares of Issuer.
(d) None.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
As a result of their March 14,
2008 agreement to work together to elect Ms. Childress to the board of
directors, which agreement includes Ms. Bates's agreement to vote her shares
for Ms. Childress and to lend personal and financial support for the expenses
of the election, Reporting Persons are deemed to be "acting in concert" as a
"group" to further this goal. This oral agreement is deemed to have the
purpose of "changing or influencing control" of Sierra Bancorp. See response
to Item 4 above.
Item 7. Material to be Filed as Exhibits
99.1 Letter, dated December 28, 2007, by the Reporting Person to the Company