Market Overview

Sierra Bancorp Declares Quarterly Cash Dividend

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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 $0.18 per share, which represents an increase of $0.02
per share, or 12.5%, relative to quarterly dividends paid in 2018. The
dividend, which will be paid on February 14, 2019 to shareholders of
record as of January 31, 2019, was approved subsequent to the Board's
review of the Company's financial performance and capital strength for
the quarter ended December 31, 2018. 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 since
then. The dividend noted in today's announcement marks the Company's 80th
consecutive quarterly cash dividend.

Sierra Bancorp is the holding company for Bank of the Sierra (www.bankofthesierra.com),
which is in its 42nd 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 full
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 and an SBA center. In 2018, 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 and a Sm-All Star award from Sandler O'Neill.

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 current dividend payments or increase
dividend payouts to shareholders, the Company's ability to generate
adequate financial results, changes in economic conditions, interest
rates and loan portfolio performance, and other factors detailed in the
Company's SEC filings.
Sierra Bancorp undertakes no
responsibility to update or revise any forward-looking statements.

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