Sierra Bancorp Declares Quarterly Cash Dividend
January 23 2009 - 9:24AM
PR Newswire (US)
PORTERVILLE, Calif., Jan. 23 /PRNewswire-FirstCall/ -- Sierra
Bancorp (NASDAQ:BSRR), parent of Bank of the Sierra, today
announced that its Board of Directors declared a regular quarterly
cash dividend of $0.10 per share subsequent to the Board's review
of the Company's preliminary 2008 financial results. The per share
dividend represents a reduction relative to quarterly dividends
paid in recent years, due to a lower level of profitability and
continued economic uncertainties. The dividend will be paid on
February 19, 2009 to shareholders of record as of February 5, 2009.
Sierra Bancorp is the holding company for Bank of the Sierra
(http://www.bankofthesierra.com/), which is in its 32nd year of
operations and is the largest independent bank headquartered in the
South San Joaquin Valley. The Company has $1.3 billion in total
assets and currently maintains 23 branch offices, an agricultural
credit center, an SBA center, and an online "virtual" branch. 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.bankofthesierra.com/ http://www.sierrabancorp.com/
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