PORTERVILLE, Calif.,
Oct. 20 /PRNewswire-FirstCall/ --
Sierra Bancorp (Nasdaq: BSRR), (the "Company"), parent company of
Bank of the Sierra, today announced the successful closing of its
previously announced registered direct public offering of 2,325,000
shares of its common stock, at a price of $10 per share. The Company estimates that
the net proceeds of the offering, after deducting the placement
agent's fees and other offering expenses, will be approximately
$22 million.
Keefe, Bruyette & Woods, Inc. served as exclusive placement
agent in connection with the offering.
The shares of Common Stock were sold pursuant to the Company's
effective shelf registration. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
any of the securities, and no offer or sale will be made in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful. A prospectus supplement and accompanying
prospectus may be obtained from Keefe, Bruyette & Woods, Inc.,
Equity Capital Markets, 787 Seventh Avenue, 4th Floor, New York, New York, 10019, or by calling
toll-free (800) 966-1559.
About Sierra Bancorp
Sierra Bancorp is the holding company for Bank of the Sierra
(www.bankofthesierra.com), which is in its 33rd year of operations
and is the largest independent bank headquartered in the
South San Joaquin Valley.
The Company conducts business from 25 branch offices, an
agricultural credit center, an SBA center, and an online "virtual"
branch, and has over 400 employees.
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 health of the
national and California economies,
the Company's ability to attract and retain skilled employees,
customers' service expectations, the Company's ability to
successfully deploy new technology, the success of branch
expansion, changes in interest rates, loan portfolio performance,
the Company's ability to secure buyers for foreclosed properties,
and other factors detailed in the Company's SEC
filings, available at the SEC's website at
www.sec.gov and the Company's website at
www.sierrabancorp.com.
SOURCE Sierra Bancorp
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