<SEC-DOCUMENT>0001144204-16-126197.txt : 20160930
<SEC-HEADER>0001144204-16-126197.hdr.sgml : 20160930
<ACCEPTANCE-DATETIME>20160930103546
ACCESSION NUMBER:		0001144204-16-126197
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160930
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160930
DATE AS OF CHANGE:		20160930

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:		161911667

	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>v449734_8-k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</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">Washington, D.C. 20549</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">Form 8-K</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">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) of the 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: bold 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) </FONT><U>September 30, 2016</U></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"><U>SIERRA BANCORP</U></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">&nbsp;</P>

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

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

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    <TD STYLE="width: 34%; padding: 0; text-decoration: underline; text-align: center; font-weight: bold; text-indent: 0"><U>California</U></TD>
    <TD STYLE="width: 33%; padding: 0; text-decoration: underline; text-align: center; font-weight: bold; text-indent: 0"><U>000-33063</U></TD>
    <TD STYLE="width: 33%; padding: 0; text-decoration: underline; text-align: center; font-weight: bold; text-indent: 0"><U>33-0937517</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; font-weight: bold; text-indent: 0"><FONT STYLE="font-weight: normal">(State or other jurisdiction of <BR>
incorporation or organization)</FONT></TD>
    <TD STYLE="padding: 0; text-align: center; font-weight: bold; text-indent: 0"><FONT STYLE="font-weight: normal">(Commission File No.)</FONT></TD>
    <TD STYLE="padding: 0; text-align: center; font-weight: bold; text-indent: 0"><FONT STYLE="font-weight: normal">(I.R.S. Employee Identification No.)</FONT></TD></TR>
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<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"><U>86 North Main Street, Porterville,
CA 93257</U><BR>
<FONT STYLE="font-weight: normal">(Address of principal executive offices)</FONT><BR>
<FONT STYLE="font-weight: normal">(Zip 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"><U>(559) 782-4900</U><BR>
<FONT STYLE="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"><FONT STYLE="font-weight: normal">(Former
name or former address, if changed since last report) </FONT><U>Not applicable</U></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: 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>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><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">Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><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">Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><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>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in; padding-right: 0; padding-left: 0; padding-top: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Item 8.01</FONT></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">OTHER EVENTS</FONT></TD></TR>
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<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: justify">On September 30, 2016, Sierra Bancorp issued
a press release announcing the authorization of 500,000 shares for repurchase by the Company, in addition to 8,266 shares still
remaining under the previous repurchase allotment. A copy of the press release is attached as Exhibit 99.1 to this Current Report.</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"></P>

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    <TD STYLE="width: 1in; padding-right: 0; padding-left: 0; padding-top: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 9.01</FONT></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FINANCIAL STATEMENTS AND EXHIBITS</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(d)</TD><TD STYLE="text-align: justify">Exhibits</TD>
</TR></TABLE>

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

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    <TD STYLE="width: 1.5in; padding-right: 0; padding-left: 0; padding-top: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit Number</FONT></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Description</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press Release dated September 30, 2016.</FONT></TD></TR>
</TABLE>
<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">&nbsp;</P>

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


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<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; text-indent: 0in"><B>&nbsp;</B></P>

<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: 1in">Pursuant to the requirements
of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

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<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">SIERRA BANCORP</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">Dated:&nbsp;&nbsp;September 30, 2016</TD>
    <TD STYLE="width: 3%">By:</TD>
    <TD STYLE="vertical-align: top; width: 47%; border-bottom: Black 1pt solid"><I>/s/ Kenneth R. Taylor</I></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">Kenneth R. Taylor</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">Executive Vice President &amp; Chief Financial Officer</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v449734_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><IMG SRC="image_001.jpg" ALT="SierraBancorp_CMYK.jpg" STYLE="height: 92px; width: 428px"></P>

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

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

<P STYLE="margin: 0">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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 NOWRAP STYLE="width: 15%; padding-right: 0; padding-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Date:</FONT></TD>
    <TD STYLE="width: 85%; padding-right: 0; padding-left: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">September 30, 2016</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP 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: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Kevin McPhaill, President/CEO</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Ken Taylor, EVP/CFO</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP 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: 4pt"><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 NOWRAP 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: 4pt"><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: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<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">SIERRA BANCORP ANNOUNCES STOCK REPURCHASE
PLAN</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"><B>Porterville, CA &ndash; September 30, 2016 &ndash; </B>Sierra
Bancorp (Nasdaq:BSRR), parent of Bank of the Sierra, announced that its Board of Directors has approved another 500,000 shares
for repurchase, in addition to 8,266 shares still remaining under the previous repurchase allotment. The additional authorized
shares represent approximately 4% of the Company&rsquo;s total shares currently issued and outstanding. Recent stock buyback activity
includes 96,053 shares that were repurchased by the Company during the third quarter of 2016.</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 0.2in 0pt 0; text-indent: 0in">&ldquo;We continue to feel that
our stock is a good value, and that stock buybacks are a tax-efficient way to enhance shareholder value and improve earnings per
share,&rdquo; commented Kevin McPhaill, President and CEO. &ldquo;Moreover, our ability to repurchase shares is facilitated by
our robust capital position,&rdquo; he added.</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 0.2in 0pt 0; text-indent: 0in">Repurchases may be made on the open
market from time to time, through one or more of the Company's market makers. While the Company generally has discretion with regard
to the timing and magnitude of share repurchases based on market conditions and any other relevant considerations, stock repurchase
activity will be conducted within the parameters outlined in the Company&rsquo;s Insider Trading Policy. Repurchase activity will
also typically be structured to conform to the safe harbor provisions of Securities and Exchange Commission Rule 10b-18, which
contains restrictions related to price, timing, and volume, among other things. The authorization of shares for repurchase does
not provide assurance that a specific quantity of shares will be repurchased, and the repurchase program may be discontinued by
management at any time.</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 0.2in 0pt 0; text-indent: 0in">Sierra Bancorp is the holding company
for Bank of the Sierra (www.bankofthesierra.com), which is in its 39th year of operations and is the largest independent bank headquartered
in the South San Joaquin Valley. The Company has close to $2 billion in assets and conducts business through 33 full-service branches,
a loan production office, an online branch, a real estate industries center, an agricultural credit center, and an SBA 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 0.2in 0pt 0; text-indent: 0in">&nbsp;</P>

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

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<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 0.2in 0pt 0; text-indent: 0in"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sierra Bancorp Stock Repurchase Plan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">September 30, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page 2</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 0.2in 0pt 0; text-indent: 0in"></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, as actual results
may differ from those projected. These forward-looking statements involve risks and uncertainties including but not limited to
those detailed in the Company&rsquo;s SEC filings, including the &ldquo;Risk Factors&rdquo; and &ldquo;Management&rsquo;s Discussion
and Analysis of Financial Condition and Results of Operations&rdquo; sections of the Company&rsquo;s most recent Form 10-K and
Form 10-Q.</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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