Sierra Bancorp Declares Quarterly Cash Dividend
April 22 2022 - 8:01AM
Business Wire
Sierra Bancorp (Nasdaq: BSRR), parent of Bank of the Sierra,
announced that its Board of Directors has declared a regular
quarterly cash dividend of $0.23 per share. The dividend was
approved subsequent to the Board’s review of the Company’s
financial performance and capital for the quarter ended March 31,
2022, and will be paid on May 12, 2022 to shareholders of record as
of May 2, 2022. 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 93rd
consecutive quarterly cash dividend.
Sierra Bancorp is the holding company for Bank of the Sierra
(www.bankofthesierra.com), which is in its 45th 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, 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 loan center, and loan two production offices; located in
Northern California in Roseville and the California Central Coast
in Templeton. In 2022, Bank of the Sierra was recognized as one of
the strongest 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,
closure or consolidation, 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.
Category: Financial Source: Sierra Bancorp
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version on businesswire.com: https://www.businesswire.com/news/home/20220422005066/en/
Kevin McPhaill, President/Chief Executive Officer (559) 782-4900
or (888) 454-BANK www.sierrabancorp.com
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