Sierra Bancorp Declares Quarterly Cash Dividend
January 22 2021 - 8:01AM
Business Wire
Sierra Bancorp (Nasdaq: BSRR), parent of Bank of the Sierra,
today announced that its Board of Directors has declared a regular
quarterly cash dividend of $0.21 per share. This represents an
increase of $0.01 per share, or 5%, relative to the dividend paid
last quarter. The dividend was approved subsequent to the Board’s
review of the Company’s financial performance and capital for the
quarter ended December 31, 2020 and will be paid on February 12,
2021 to shareholders of record as of January 29, 2021. Counting
dividends paid by Bank of the Sierra prior to the formation of
Sierra Bancorp the Company has paid regular cash dividends to
shareholders every year since 1987, comprised of annual dividends
through 1998 and quarterly dividends thereafter. The dividend noted
in today’s announcement marks the Company’s 88th consecutive
quarterly cash dividend.
Sierra Bancorp is the holding company for Bank of the Sierra
(www.bankofthesierra.com), which is in its 44th year of operations
and is the largest independent bank headquartered in the South San
Joaquin Valley. Bank of the Sierra is a community-centric regional
bank, which offers a broad range of retail and commercial banking
services through full-service branches located within the counties
of Tulare, Kern, Kings, Fresno, Los Angeles, Ventura, San Luis
Obispo and Santa Barbara. The Bank also maintains an online branch,
and provides specialized lending services through an agricultural
credit center, an SBA center, and a loan production office in
Rocklin, California. In 2020, Bank of the Sierra was recognized as
one of the strongest and top-performing community banks in the
country with a 5-star rating from Bauer Financial.
Forward-Looking
Statements
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
Company’s ability to maintain dividend payments or increase
dividend payouts to shareholders, the Company’s ability to generate
adequate financial results, our borrowers’ actual payment
performance as loan deferrals related to the COVID-19 pandemic
expire, changes to statutes, regulations, or regulatory policies or
practices as a result of, or in response to COVID-19, including the
potential adverse impact of loan modifications and payment
deferrals implemented consistent with recent regulatory guidance,
the health of the national and local 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 acquisitions and branch expansion,
changes in interest rates, loan portfolio performance, and other
factors detailed in the Company's SEC filings, including the "Risk
Factors" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations" sections of the Company's most
recent Form 10-K and Form 10-Q. Sierra Bancorp undertakes no
responsibility to update or revise any forward-looking
statements.
Category: Financial
Source: Sierra Bancorp
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version on businesswire.com: https://www.businesswire.com/news/home/20210122005039/en/
Kevin McPhaill, President/Chief Executive Officer Phone: (559)
782-4900 or (888) 454-BANK Website Address:
www.sierrabancorp.com
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