This Amendment No. 1
("Amendment No. 1") to Schedule 13D amends and supplements the statement on
Schedule 13D originally filed by Patricia L. Childress ("Ms. Childress" or
"Reporting Person Childress") and Carol A. Bates ("Ms. Bates" or "Reporting
Person Bates") on March 26, 2008 (the "Schedule 13D") relating to the Common
Stock of Sierra Bancorp, a California corporation (the "Issuer"). Ms.
Childress and Ms. Bates are collectively referred to herein as the "Reporting
Persons." Issuer's principal executive office is located at 86 North Main
Street, Porterville, California 93257. Unless otherwise indicated, each
capitalized term used but not defined herein shall have the meaning assigned
to such term in the Schedule 13D.
Item 3. Source and Amount of Funds or Other
Consideration
The securities were acquired by inheritance from Reporting Persons brother
as set forth in Item 4.
Item 4. Purpose of Transaction
Item 4 of the Schedule 13D is
amended and supplemented by adding the following to the beginning of the last
paragraph thereof:
On November 25, 2008,
additional shares were transferred to Reporting Persons pursuant to terms of
the Gregory A. Childress Revocable Trust (See response set forth in
Item 5 (c)).
Item 5. Interest in Securities
of the Issuer
T
he response set forth
in Item 5 of Schedule 13D is hereby amended in its entirety to read as follows:
The following information is based on
9,666,391 shares of Issuer's Common Stock outstanding according to the
Issuer's report on Form 10-Q filed on November 10, 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
|
|
771,732
|
|
7.9
|
%
|
Carol Bates
|
|
655,240
|
|
6.7
|
%
|
|
|
|
|
|
|
(b)
(1) Number of shares as to which Ms. Childress has:
(i) Sole power to vote or to direct the vote:
739,059
(ii) Shared power to vote or to direct the vote:
32,673
(iii) Sole power to dispose or to direct the disposition of:
755,165
(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:
622,567
(ii) Shared power to vote or to direct the vote:
32,673
(iii) Sole power to dispose or to direct the disposition of:
633,134
(iv) Shared power to dispose or to direct the disposition of:
6,000
(c) Reporting Persons have acquired shares in the past 60 days pursuant
to terms of the Gregory A. Childress Revocable Trust. On November 25, 2008,
68,617 shares of common stock were transferred from the Gregory A. Childress
Revocable Trust to Ms. Childress and 68,616 shares of common stock were
transferred from the Gregory A. Childress Revocable Trust to Ms. Bates.
Additionally, on November 25, 2008, 37,500 shares of common stock were
transferred from the Gregory A. Childress Revocable Trust to each Reporting
Person (the total securities transferred equaling 75,000). As of
November 25, 2008, based upon market trades, Reporting Persons believe the
price per share to be $21.47.
(d) None.
(e) Not applicable.