PORTERVILLE, Calif., Jan. 20 /PRNewswire-FirstCall/ -- Sierra Bancorp , parent of Bank of the Sierra, today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.13 per share, which is 18% above the quarterly dividend paid a year ago and 8% higher than the dividend paid last quarter. The dividend will be paid on February 15, 2006 to shareholders of record as of February 1, 2006. "Once again we are pleased to be able to offer a tangible reward to our shareholders," stated James C. Holly, President and CEO, "based on preliminary indications of robust financial performance for the recently concluded quarter and year."
Sierra Bancorp is the holding company for Bank of the Sierra (http://www.bankofthesierra.com/), which is in its 29th year of operations and is the largest independent bank headquartered in the South San Joaquin Valley. The Company has over $1.05 billion in total assets and currently maintains nineteen branch offices, an agricultural credit center, and an SBA center. In June 2005, Sierra Bancorp was added to the Russell 2000 index based on relative growth in market capitalization. In its July 2005 edition, US Banker magazine ranked Sierra Bancorp as the nation's 8th best performing publicly-traded community bank based on three-year average return on equity.
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 bank's ability to maintain current dividend payments or increase dividend payouts to shareholder, its ability to continue to generate record 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.
© 2006 PR Newswire
