FORM 5
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
[ ] Form 3 Holdings Reported
[ ] Form 4 Transactions Reported 		UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

                                                                                  

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

HOLLY JAMES C

2. Issuer Name and Ticker or Trading Symbol

SIERRA BANCORP [BSRR]

5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
President and C.E.O.

(Last)          (First)          (Middle)

86 N. MAIN STREET

3. Statement for Issuer's Fiscal Year Ended (MM/DD/YYYY)
12/31/2008 
(Street)

PORTERVILLE, CA 93257

(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

2/2/2009 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person


Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4) 		7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date
(MM/DD/YYYY) 		7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4) 		10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4) 		11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
StockOption   $19.19   11/20/2008     A   2500       11/20/2008   11/20/2018   Common Stock   2500   $19.19   2500   D    
Stock Option   $31.70                 11/16/2006   11/16/2016   Common Stock   2500     2500   D    
Stock Option   $26.58                 11/15/2007   11/15/2017   Common Stock   2500     2500   D    
Stock Options   $9.00                 9/10/1998   9/10/2008   Common Stock   0     0   (1) D    

Explanation of Responses:
( 1)  Total options outstanding at $9.00 per share of zero reflects the correction of an inadvertent error (previous report on Form 4 erroneously reflected 30,000 shares of such options as outstandng when they had all been exercised).

Remarks:
Due to clerical error, incorrect date used for year ended and POA was incorrectly referenced on original Form 5.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
HOLLY JAMES C
86 N. MAIN STREET
PORTERVILLE, CA 93257 		X
President and C.E.O.

Signatures
D. Rotondo, Attorney-in-fact 2/17/2009
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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