<SEC-DOCUMENT>0001144204-14-069078.txt : 20141117
<SEC-HEADER>0001144204-14-069078.hdr.sgml : 20141117
<ACCEPTANCE-DATETIME>20141117120843
ACCESSION NUMBER:		0001144204-14-069078
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20141114
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20141117
DATE AS OF CHANGE:		20141117

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SIERRA BANCORP
		CENTRAL INDEX KEY:			0001130144
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				330937517
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-33063
		FILM NUMBER:		141226961

	BUSINESS ADDRESS:	
		STREET 1:		86 NORTH MAIN STREET
		CITY:			PORTERVILLE
		STATE:			CA
		ZIP:			93257
		BUSINESS PHONE:		5597824900

	MAIL ADDRESS:	
		STREET 1:		86 NORTH MAIN STREET
		CITY:			PORTERVILLE
		STATE:			CA
		ZIP:			93257
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v394498_8-k.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt">UNITED
STATES</FONT><BR>
<FONT STYLE="font-size: 12pt">SECURITIES AND EXCHANGE COMMISSION</FONT><BR>
Washington, D.C. 20549</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">_____________</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Form 8-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">_____________</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">Pursuant
to Section 13 or 15(d)</FONT><BR>
<FONT STYLE="font-weight: normal">of the</FONT><BR>
<FONT STYLE="font-weight: normal">Securities Exchange Act of 1934</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">Date of
Report (date of earliest event reported) <U>November 14, 2014</U></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">_____________</FONT></P>

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<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIERRA BANCORP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">(Exact
name of registrant as specified in its charter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">_____________</FONT></P>

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    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-weight: bold">California</TD>
    <TD STYLE="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-weight: bold">000-33063</TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-weight: bold">33-0937517</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-weight: bold"><FONT STYLE="font-size: 10pt; font-weight: normal">(State or other jurisdiction</FONT><BR>
<FONT STYLE="font-size: 10pt; font-weight: normal">of incorporation or organization)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-weight: bold"><FONT STYLE="font-size: 10pt; font-weight: normal">(Commission File No.)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-weight: bold"><FONT STYLE="font-size: 10pt; font-weight: normal">(I.R.S. Employer Identification No.)</FONT></TD></TR>
</TABLE>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">86 North Main Street, Porterville,
CA 93257</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(559) 782-4900<BR>
<FONT STYLE="font-size: 10pt; font-weight: normal">(Registrant&rsquo;s telephone number, including area code)</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">None<BR>
<FONT STYLE="font-size: 10pt; font-weight: normal">(Former name or former address, if changed since last report)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">____________</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2. below):</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD>
</TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 2.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Completion
of Acquisition or Disposition of Assets</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Effective November
14, 2014, Sierra Bancorp (the &quot;<B>Company</B>&quot;) completed its previously announced acquisition of Santa Clara Valley
Bank, N.A. (&quot;<B>SCVE</B>&quot;) pursuant to an Agreement and Plan of Consolidation dated July 17, 2014 by and among the Company,
Bank of Sierra, a California banking corporation and wholly-owned subsidiary of the Company and SCVE (the &ldquo;<B>Consolidation
Agreement</B>&rdquo;). At the closing, a newly formed interim banking corporation and wholly-owned subsidiary of the Company consolidated
with SCVE (the &quot;<B>Consolidation</B>&quot;). The aggregate consideration paid by Sierra upon effectiveness of the Consolidation
to the shareholders and warrant holders of SCVE was approximately $15.3 million in cash, with each share of the common stock of
SCVE (&ldquo;<B>SCVE Common Stock</B>&rdquo;), outstanding immediately prior to the effective time of the Consolidation converted
into the right to receive $6.00 per share in cash, for an aggregate of approximately $11,593,000 payable to holders of SCVE Common
Stock. In addition, each issued and outstanding share of the Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A and
each issued and outstanding share of the Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B (collectively, the &ldquo;<B>SCVE
Preferred Stock</B>&rdquo;) was converted into the right to receive $1,000 per share in cash, or an aggregate of $3,045,000 payable
to the sole shareholder of the SCVE Preferred Stock. Further, each holder of warrants (&ldquo;<B>Warrants</B>&rdquo;) to purchase
SCVE Common Stock (&ldquo;<B>Warrant Holder</B>&rdquo;) had his or her Warrants converted into a right to receive cash on the effective
date of the Consolidation equal to $1.00 per Warrant to purchase one share of SCVE Common Stock or an aggregate of $700,000 to
Warrant Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Immediately following
the Consolidation, the newly consolidated SCVE merged with and into Bank of the Sierra, with Bank of the Sierra surviving the merger
as the surviving bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing description
of the Consolidation Agreement does not purport to be complete and is qualified in its entirety by reference to the Consolidation
Agreement which has been filed as Exhibit 2.1 to the Company's Current Report on Form 8-K filed with the Securities and Exchange
Commission on July 18, 2014 and is incorporated herein by referenced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, on November
14, 2014 the Company issued a press release announcing the consummation of the Consolidation. A copy of the press release is attached
as Exhibit 99.1 and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(d)</TD><TD STYLE="text-align: justify">Exhibits.</TD>
</TR></TABLE>

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    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; padding: 0; text-align: center; text-indent: 0"><B>Exhibit No.</B></TD>
    <TD STYLE="width: 82%; border-bottom: Black 1pt solid; padding: 0; text-align: center; text-indent: 0"><B>Description</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: right; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">99.1</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Press release issued by Sierra Bancorp dated November 14, 2014</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TR>
    <TD STYLE="vertical-align: top; text-align: justify; padding-left: 0.5in">Dated:&nbsp;&nbsp;November 17, 2014</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">SIERRA BANCORP</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify">By:</TD>
    <TD STYLE="vertical-align: top; width: 45%; border-bottom: black 1pt solid; text-align: justify">/s/ Kevin McPhaill</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Name:</TD>
    <TD STYLE="vertical-align: top; text-align: justify">Kevin McPhaill</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Title:</TD>
    <TD STYLE="vertical-align: top; text-align: justify">President</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; padding: 0; text-align: center; text-indent: 0"><B>Exhibit No.</B></TD>
    <TD STYLE="width: 82%; border-bottom: Black 1pt solid; padding: 0; text-align: center; text-indent: 0"><B>Description</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: right; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">99.1</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Press release issued by Sierra Bancorp dated November 14, 2014</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v394498_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><B>Exhibit 99.1</B></P>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="image_001.jpg" ALT="SierraBancorp_CMYK.jpg" STYLE="height: 92px; width: 396px"></P>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 0; padding-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>FOR IMMEDIATE RELEASE</B></FONT></td>
    </tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; width: 15%"><font style="font-family: Times New Roman, Times, Serif">Date:</font></td>
    <TD STYLE="padding-right: 0; padding-left: 0; width: 85%"><font style="font-family: Times New Roman, Times, Serif">November 14, 2014</font></td>
    </tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0"><font style="font-family: Times New Roman, Times, Serif">Contacts:</font></td>
    <TD STYLE="padding-right: 0; padding-left: 0"><font style="font-family: Times New Roman, Times, Serif">Kevin McPhaill, President/Chief Operating Officer</font></td>
    </tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0"><font style="font-family: Times New Roman, Times, Serif"></font></td>
    <TD STYLE="padding-right: 0; padding-left: 0">Ken Taylor, EVP/Chief Financial Officer</td>
    </tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0"><font style="font-family: Times New Roman, Times, Serif">Phone:</font></td>
    <TD STYLE="padding-right: 0; padding-left: 0"><font style="font-family: Times New Roman, Times, Serif">(559) 782-4900 or (888) 454-BANK</font></td>
    </tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0"><font style="font-family: Times New Roman, Times, Serif">Website Address:</font></td>
    <TD STYLE="padding-right: 0; padding-left: 0"><font style="font-family: Times New Roman, Times, Serif">www.sierrabancorp.com</font></td>
    </tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>SIERRA BANCORP COMPLETES SANTA
CLARA VALLEY BANK AQUISITION</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Porterville, CA &ndash;
November 14, 2014 &ndash;</B>Sierra Bancorp today announced the completion of its acquisition of Santa Clara Valley Bank, N.A.
(&quot;SCVE&quot;). The aggregate consideration paid by Sierra Bancorp to the shareholders and warrant holders of SCVE was approximately
$15.3 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">As announced on July
17, 2014, Sierra Bancorp entered into a definitive agreement to acquire SCVE, with $129 million in assets and branches in Santa
Paula, Santa Clarita, and Fillmore, California. Each of the acquired branches will remain open and will be rebranded as Bank of
the Sierra branches. Additionally, SCVE customers will now have access to Bank of the Sierra&rsquo;s enhanced suite of products
and services, as well as the convenience of 25 branch locations in Central California.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;With the acquisition complete, ensuring our new Santa
Clara Valley Bank customers enjoy a seamless transition will be our major focus,&rdquo; said Jim Holly, Bank of the Sierra CEO.
&ldquo;Although we have other projects and endeavors, it is important not to lose sight of the personal touch that a community
bank can offer,&rdquo; continued Holly. &ldquo;Our personal touch and community focus is an important part of our continued success.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.2in 0pt 0; text-indent: 0in">Sierra Bancorp is the holding company
for Bank of the Sierra (www.bankofthesierra.com), which is in its 37<SUP>th</SUP> year of operations and at $1.6 billion in assets
is the largest independent bank headquartered in the South San Joaquin Valley. The Company now has approximately 440 employees
and conducts business through 28 branch offices, an online branch, a real estate industries center, and an agricultural credit
center.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.2in 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>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&rsquo;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&rsquo;s SEC filings. Sierra Bancorp undertakes no responsibility to update or revise any forward-looking
statements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">###################################</P>



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</DOCUMENT>
</SEC-DOCUMENT>
