Sierra Bancorp Announces Share Repurchase Program and Declares Quarterly Cash Dividend

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Oct 22, 2021

Sierra Bancorp (Nasdaq: BSRR), parent of Bank of the Sierra, announced that its Board of Directors has approved a new share repurchase program authorizing the Company to repurchase up to one million shares of its outstanding common stock, from time to time, commencing after the current blackout period ends and continuing until October 31, 2022. This share repurchase program replaces and supersedes the prior share repurchase program. Shares may be repurchased in open-market transactions or privately negotiated transactions executed in compliance with applicable federal and state securities laws. The timing of the repurchases and the number of shares repurchased under the program will depend on a variety of factors, including price, trading volume, corporate and regulatory requirements, and market conditions. The Board authorized Management to enter into a 10b5-1 Plan with a nationally recognized broker-dealer to facilitate share repurchases. This share repurchase authorization reflects the Board and management’s commitment to returning capital to our shareholders to enhance long-term shareholder value.