Sierra Bancorp (BSRR) 16.70 $BSRR
Sierra Bancorp and Coast Bancorp Announce Shareholder Approval of Merger and Redemption of Rights Under Tax Benefits Preservation Plan
PR Newswire - Tue Jun 21, 12:06PM CDT
Sierra Bancorp (NASDAQ: BSRR), the holding company of Bank of the Sierra, and Coast Bancorp (OTC: CTBP), the holding company of Coast National Bank, today announced that on June 20, 2016, at a special meeting, the shareholders of Coast Bancorp approved the Agreement and Plan of Reorganization and Merger, dated as of January 4, 2016 (the "Merger Agreement"
, by and between Sierra Bancorp and Coast Bancorp, pursuant to which Coast Bancorp will be merged with and into Sierra Bancorp, and immediately thereafter Coast National Bank will be merged with and into Bank of the Sierra. All required regulatory approvals have also been received and the transaction is expected to close on or about July 8, 2016, pending satisfaction of other customary closing conditions.
BSRR: 16.70 (+0.32)
COAST BANCORP Reports First Quarter Results
Marketwired - Thu Apr 28, 8:47PM CDT
Coast Bancorp ("Coast Bancorp" or the "Company" (OTCBB: CTBP), a bank holding company and the parent of Coast National Bank (the "Bank", reported net income on a consolidated basis available to common shareholders of $35,000 or $0.01 per dilutive common share for the first quarter of 2016 compared to net income of $5,000 for the first quarter of 2015. For comparison purposes, the reported net income is inclusive of non-tax deductible expenses incurred in connection with the pending acquisition and merger with Sierra Bancorp and Coast Bancorp of $78,000 in other non-interest expense. Without the pre-acquisition expenses, adjusted net income for the first quarter of 2016 would be $113,000 or $0.02 per dilutive common share. The increase in net income for the first quarter of 2016 as compared to the first quarter of 2015 was attributed to increased interest income from loans and investments at the bank. Noninterest income declined in the first quarter of 2016 compared to the same period in 2015 as a result of reduced gains on sale of SBA loans and investment securities. Noninterest expense was $16,000 higher in the first quarter of 2016 compared to the first quarter of 2015 due to the $78,000 of merger-related expenses incurred.
BSRR: 16.70 (+0.32)
Sierra Bancorp posts 1Q profit
Automated Insights - Mon Apr 25, 7:07AM CDT
PORTERVILLE, Calif. (AP) _ Sierra Bancorp (BSRR) on Monday reported first-quarter earnings of $4 million.
BSRR: 16.70 (+0.32)
Sierra Bancorp Reports Earnings
PR Newswire - Mon Apr 25, 6:58AM CDT
Sierra Bancorp (Nasdaq: BSRR), parent of Bank of the Sierra, today announced its unaudited financial results for the quarter ended March 31, 2016. Sierra Bancorp recognized consolidated net income of $4.036 million for the quarter, an improvement of $298,000, or 8%, relative to net income in the first quarter of 2015. The increase over the prior year is primarily the result of higher net interest income driven by growth in interest-earning assets, and an increase in service charges stemming from a growing level of deposits and greater commercial deposit account activity. Those favorable variances were partially offset by a higher tax accrual rate. The Company's return on average assets was 0.93% in the first quarter of 2016, the same as in the first quarter of 2015. The Company's return on average equity increased to 8.41% in the first quarter of 2016 from 8.06% in the first quarter of 2015, and diluted earnings per share also increased to $0.30 from $0.27.
BSRR: 16.70 (+0.32)
Sierra Bancorp Declares Quarterly Cash Dividend
PR Newswire - Fri Apr 22, 6:58AM CDT
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 $0.12 per share, the same as the dividend paid last quarter but 20% higher than the dividend paid a year ago. The dividend was approved subsequent to the Board's review of the Company's financial results for the quarter ended March 31, 2016, which were close to management's expectations and reflect continued capital strength. The dividend will be paid on May 19, 2016 to shareholders of record as of May 5, 2016. Including 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 from 1987 through 1998 and quarterly dividends since then. The dividend noted in today's announcement marks the Company's 69th consecutive regular quarterly cash dividend.
BSRR: 16.70 (+0.32)
Bank of the Sierra to acquire Porterville branch
M2 - Mon Feb 01, 7:39AM CST
Bank of the Sierra, the banking subsidiary of Sierra Bancorp (NASDAQ: BSRR), has entered into an agreement with Citizens Business Bank, the banking subsidiary of CVB Financial Corp. (NASDAQ: CVBF), to acquire the deposits and certain loan assets of a branch of Citizens Business Bank located in Porterville, California, the company said. Pending regulatory approval, Sierra's assumption of approximately USD22 million in deposits and approximately USD1 million in loans is scheduled to be completed in the second quarter of 2016. Sierra Bancorp is a publicly-traded company with approximately USD1.8 billion in assets. Headquartered in Porterville, California, the company operates primarily through Bank of the Sierra, a multi-community financial institution that offers a full range of retail and commercial banking services, primarily in the central and southern sections of the San Joaquin Valley. CVB Financial Corp. is the holding company for Citizens Business Bank. The bank is a large financial institution headquartered in the Inland Empire region of Southern California with assets of approximately USD7.7 billion.
CVBF: 16.60 (+0.33), BSRR: 16.70 (+0.32)
Sierra Bancorp declares quarterly cash dividend
M2 - Thu Jan 28, 4:50AM CST
Board of directors of Sierra Bancorp (NASDAQ: BSRR) has declared a regular quarterly cash dividend of USD0.12 per share, representing an increase of nine percent over the dividend paid last quarter and up 20 percent from the dividend paid a year ago, the company said. The dividend was approved subsequent to the board's review of the company's financial results for the quarter and the year ended December 31, 2015, which reflect continued capital strength, improved operating results, robust growth in loans and deposits, and respectable credit quality. The dividend will be paid on February 18, 2016, to shareholders of record as of February 4, 2016. This dividend marks the company's 68th consecutive regular quarterly cash dividend. Sierra Bancorp is the holding company for Bank of the Sierra, which is in its 39th year of operations. The company has approximately USD1.8 billion in total assets.
BSRR: 16.70 (+0.32)
Bank of the Sierra Announces Agreement to Acquire Porterville Branch
PR Newswire - Mon Jan 25, 5:00PM CST
Bank of the Sierra, the banking subsidiary of Sierra Bancorp, (NASDAQ: BSRR), announced that it has entered into an agreement with Citizens Business Bank, the banking subsidiary of CVB Financial Corp. (NASDAQ: CVBF), to acquire the deposits and certain loan assets of a branch of Citizens Business Bank located in Porterville, California. Pending regulatory approval, Sierra's assumption of approximately $22 million in deposits and approximately $1 million in loans is scheduled to be completed in the second quarter of 2016.
CVBF: 16.60 (+0.33), BSRR: 16.70 (+0.32)
Sierra Bancorp announces 20% higher dividend of USD0.12 per share for quarter over prior year
M2 - Mon Jan 25, 4:48AM CST
The board of directors of Sierra Bancorp (Nasdaq:BSRR) approved a regular quarterly cash dividend of USD0.12 per share, the company revealed on Friday.
BSRR: 16.70 (+0.32)
Upgrade Alert for Sierra Bancorp (BSRR)
Comtex SmarTrend(R) - Thu Jan 07, 8:00AM CST
Sierra Bancorp (NASDAQ:BSRR) was upgraded from Market Perform to Outperform at Raymond James today. The stock closed yesterday at $17.85 on volume of 22,000 shares, above average daily volume of 18,000. Sierra Bancorp is the holding company for Bank of the Sierra. The Bank grants commercial, real estate mortgage, real estate construction and consumer loans to consumers, farmers and businesses in the South Central San Joaquin Valley of California, specifically Tulare, Fresno, Kern, Kings and Madera counties. Bank of the Sierra also offers Internet banking.
BSRR: 16.70 (+0.32)
Sierra Bancorp to acquire Coast Bancorp
M2 - Thu Jan 07, 5:10AM CST
Sierra Bancorp (NASDAQ: BSRR), the holding company of Bank of the Sierra, has signed a definitive agreement to acquire Coast Bancorp (OTC: CTBP) of San Luis Obispo County, California, the company said. Under the agreement the outstanding shares of Coast Bancorp will be entitled to receive aggregate consideration of USD3.2 million in cash and 581,753 shares of Sierra Bancorp common stock. Coast Bancorp shareholders may elect to receive cash, Sierra Bancorp common stock or a combination of both, subject to proration. Based on the closing price of Sierra Bancorp common stock on January 4, 2016, the transaction would have a value of USD13.8 million, or USD2.37 per Coast Bancorp common share. Sierra Bancorp expects the acquisition to be immediately accretive to earnings per share, and will yield a tangible book value earnback of less than four years and an IRR in excess of 20 percent. The boards of Sierra Bancorp and Coast Bancorp unanimously approved the transaction, which is subject to customary conditions of closing including required regulatory approvals and the approval by the shareholders of Coast Bancorp. Coast Bancorp is the parent of Coast National Bank. Sierra Bancorp is the parent of Bank of the Sierra. In the transaction Coast Bancorp will be merged into Sierra Bancorp, followed by the merger of Coast National Bank into Bank of the Sierra. Coast National Bank is a local community bank serving the needs of consumers and businesses through three locations throughout San Luis Obispo County. As of September 30, 2015, the bank had approximately USD146.4 million in assets. Sierra Bancorp (NASDAQ: BSRR) is a publicly traded company with approximately USD1.7 billion in assets. Headquartered in Porterville, California, the company operates primarily through Bank of the Sierra. The bank is a multi-community financial institution that offers a full range of retail and commercial banking services, primarily in the central and southern sections of the San Joaquin Valley. The bank specializes in agricultural lending and works with many of the businesses in that region.
BSRR: 16.70 (+0.32)
Sierra Bancorp Announces Agreement to Acquire Coast Bancorp of San Luis Obispo County
Marketwired - Tue Jan 05, 1:35PM CST
Sierra Bancorp (NASDAQ: BSRR), the holding company of Bank of the Sierra, announced the signing of a definitive agreement to acquire Coast Bancorp (OTCBB: CTBP) of San Luis Obispo County, California. Under the agreement the outstanding shares of Coast Bancorp will be entitled to receive aggregate consideration of $3.2 million in cash and 581,753 shares of Sierra Bancorp common stock. Coast Bancorp shareholders may elect to receive cash, Sierra Bancorp common stock or a combination of both, subject to proration. Based on the closing price of Sierra Bancorp common stock on January 4, 2016, the transaction would have a value of $13.8 million, or $2.37 per Coast Bancorp common share. However, the deal value will fluctuate with changes in Sierra Bancorp's stock price.
BSRR: 16.70 (+0.32)
Downgrade Alert for Sierra Bancorp (BSRR)
Comtex SmarTrend(R) - Thu Dec 17, 7:19AM CST
Sierra Bancorp (NASDAQ:BSRR) was downgraded from Outperform to Market Perform at Raymond James today. The stock closed yesterday at $18.30 on volume of 12,000 shares, below average daily volume of 15,000. Sierra Bancorp is the holding company for Bank of the Sierra. The Bank grants commercial, real estate mortgage, real estate construction and consumer loans to consumers, farmers and businesses in the South Central San Joaquin Valley of California, specifically Tulare, Fresno, Kern, Kings and Madera counties. Bank of the Sierra also offers Internet banking.
BSRR: 16.70 (+0.32)
Sierra Bancorp announces 67th consecutive quarterly dividend of USD0.11 per share
M2 - Mon Oct 19, 3:06AM CDT
The board of directors of Sierra Bancorp (Nasdaq:BSRR) authorised a regular cash dividend of USD0.11 per share for the quarter, the company reported on Friday.
BSRR: 16.70 (+0.32)
Sierra Bancorp and Coast Bancorp Announce Shareholder Approval of Merger and Redemption of Rights Under Tax Benefits Preservation Plan
PR Newswire - Tue Jun 21, 12:06PM CDT
Sierra Bancorp (NASDAQ: BSRR), the holding company of Bank of the Sierra, and Coast Bancorp (OTC: CTBP), the holding company of Coast National Bank, today announced that on June 20, 2016, at a special meeting, the shareholders of Coast Bancorp approved the Agreement and Plan of Reorganization and Merger, dated as of January 4, 2016 (the "Merger Agreement"
, by and between Sierra Bancorp and Coast Bancorp, pursuant to which Coast Bancorp will be merged with and into Sierra Bancorp, and immediately thereafter Coast National Bank will be merged with and into Bank of the Sierra. All required regulatory approvals have also been received and the transaction is expected to close on or about July 8, 2016, pending satisfaction of other customary closing conditions. BSRR: 16.70 (+0.32)
COAST BANCORP Reports First Quarter Results
Marketwired - Thu Apr 28, 8:47PM CDT
Coast Bancorp ("Coast Bancorp" or the "Company"
(OTCBB: CTBP), a bank holding company and the parent of Coast National Bank (the "Bank", reported net income on a consolidated basis available to common shareholders of $35,000 or $0.01 per dilutive common share for the first quarter of 2016 compared to net income of $5,000 for the first quarter of 2015. For comparison purposes, the reported net income is inclusive of non-tax deductible expenses incurred in connection with the pending acquisition and merger with Sierra Bancorp and Coast Bancorp of $78,000 in other non-interest expense. Without the pre-acquisition expenses, adjusted net income for the first quarter of 2016 would be $113,000 or $0.02 per dilutive common share. The increase in net income for the first quarter of 2016 as compared to the first quarter of 2015 was attributed to increased interest income from loans and investments at the bank. Noninterest income declined in the first quarter of 2016 compared to the same period in 2015 as a result of reduced gains on sale of SBA loans and investment securities. Noninterest expense was $16,000 higher in the first quarter of 2016 compared to the first quarter of 2015 due to the $78,000 of merger-related expenses incurred. BSRR: 16.70 (+0.32)
Sierra Bancorp posts 1Q profit
Automated Insights - Mon Apr 25, 7:07AM CDT
PORTERVILLE, Calif. (AP) _ Sierra Bancorp (BSRR) on Monday reported first-quarter earnings of $4 million.
BSRR: 16.70 (+0.32)
Sierra Bancorp Reports Earnings
PR Newswire - Mon Apr 25, 6:58AM CDT
Sierra Bancorp (Nasdaq: BSRR), parent of Bank of the Sierra, today announced its unaudited financial results for the quarter ended March 31, 2016. Sierra Bancorp recognized consolidated net income of $4.036 million for the quarter, an improvement of $298,000, or 8%, relative to net income in the first quarter of 2015. The increase over the prior year is primarily the result of higher net interest income driven by growth in interest-earning assets, and an increase in service charges stemming from a growing level of deposits and greater commercial deposit account activity. Those favorable variances were partially offset by a higher tax accrual rate. The Company's return on average assets was 0.93% in the first quarter of 2016, the same as in the first quarter of 2015. The Company's return on average equity increased to 8.41% in the first quarter of 2016 from 8.06% in the first quarter of 2015, and diluted earnings per share also increased to $0.30 from $0.27.
BSRR: 16.70 (+0.32)
Sierra Bancorp Declares Quarterly Cash Dividend
PR Newswire - Fri Apr 22, 6:58AM CDT
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 $0.12 per share, the same as the dividend paid last quarter but 20% higher than the dividend paid a year ago. The dividend was approved subsequent to the Board's review of the Company's financial results for the quarter ended March 31, 2016, which were close to management's expectations and reflect continued capital strength. The dividend will be paid on May 19, 2016 to shareholders of record as of May 5, 2016. Including 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 from 1987 through 1998 and quarterly dividends since then. The dividend noted in today's announcement marks the Company's 69th consecutive regular quarterly cash dividend.
BSRR: 16.70 (+0.32)
Bank of the Sierra to acquire Porterville branch
M2 - Mon Feb 01, 7:39AM CST
Bank of the Sierra, the banking subsidiary of Sierra Bancorp (NASDAQ: BSRR), has entered into an agreement with Citizens Business Bank, the banking subsidiary of CVB Financial Corp. (NASDAQ: CVBF), to acquire the deposits and certain loan assets of a branch of Citizens Business Bank located in Porterville, California, the company said. Pending regulatory approval, Sierra's assumption of approximately USD22 million in deposits and approximately USD1 million in loans is scheduled to be completed in the second quarter of 2016. Sierra Bancorp is a publicly-traded company with approximately USD1.8 billion in assets. Headquartered in Porterville, California, the company operates primarily through Bank of the Sierra, a multi-community financial institution that offers a full range of retail and commercial banking services, primarily in the central and southern sections of the San Joaquin Valley. CVB Financial Corp. is the holding company for Citizens Business Bank. The bank is a large financial institution headquartered in the Inland Empire region of Southern California with assets of approximately USD7.7 billion.
CVBF: 16.60 (+0.33), BSRR: 16.70 (+0.32)
Sierra Bancorp declares quarterly cash dividend
M2 - Thu Jan 28, 4:50AM CST
Board of directors of Sierra Bancorp (NASDAQ: BSRR) has declared a regular quarterly cash dividend of USD0.12 per share, representing an increase of nine percent over the dividend paid last quarter and up 20 percent from the dividend paid a year ago, the company said. The dividend was approved subsequent to the board's review of the company's financial results for the quarter and the year ended December 31, 2015, which reflect continued capital strength, improved operating results, robust growth in loans and deposits, and respectable credit quality. The dividend will be paid on February 18, 2016, to shareholders of record as of February 4, 2016. This dividend marks the company's 68th consecutive regular quarterly cash dividend. Sierra Bancorp is the holding company for Bank of the Sierra, which is in its 39th year of operations. The company has approximately USD1.8 billion in total assets.
BSRR: 16.70 (+0.32)
Bank of the Sierra Announces Agreement to Acquire Porterville Branch
PR Newswire - Mon Jan 25, 5:00PM CST
Bank of the Sierra, the banking subsidiary of Sierra Bancorp, (NASDAQ: BSRR), announced that it has entered into an agreement with Citizens Business Bank, the banking subsidiary of CVB Financial Corp. (NASDAQ: CVBF), to acquire the deposits and certain loan assets of a branch of Citizens Business Bank located in Porterville, California. Pending regulatory approval, Sierra's assumption of approximately $22 million in deposits and approximately $1 million in loans is scheduled to be completed in the second quarter of 2016.
CVBF: 16.60 (+0.33), BSRR: 16.70 (+0.32)
Sierra Bancorp announces 20% higher dividend of USD0.12 per share for quarter over prior year
M2 - Mon Jan 25, 4:48AM CST
The board of directors of Sierra Bancorp (Nasdaq:BSRR) approved a regular quarterly cash dividend of USD0.12 per share, the company revealed on Friday.
BSRR: 16.70 (+0.32)
Upgrade Alert for Sierra Bancorp (BSRR)
Comtex SmarTrend(R) - Thu Jan 07, 8:00AM CST
Sierra Bancorp (NASDAQ:BSRR) was upgraded from Market Perform to Outperform at Raymond James today. The stock closed yesterday at $17.85 on volume of 22,000 shares, above average daily volume of 18,000. Sierra Bancorp is the holding company for Bank of the Sierra. The Bank grants commercial, real estate mortgage, real estate construction and consumer loans to consumers, farmers and businesses in the South Central San Joaquin Valley of California, specifically Tulare, Fresno, Kern, Kings and Madera counties. Bank of the Sierra also offers Internet banking.
BSRR: 16.70 (+0.32)
Sierra Bancorp to acquire Coast Bancorp
M2 - Thu Jan 07, 5:10AM CST
Sierra Bancorp (NASDAQ: BSRR), the holding company of Bank of the Sierra, has signed a definitive agreement to acquire Coast Bancorp (OTC: CTBP) of San Luis Obispo County, California, the company said. Under the agreement the outstanding shares of Coast Bancorp will be entitled to receive aggregate consideration of USD3.2 million in cash and 581,753 shares of Sierra Bancorp common stock. Coast Bancorp shareholders may elect to receive cash, Sierra Bancorp common stock or a combination of both, subject to proration. Based on the closing price of Sierra Bancorp common stock on January 4, 2016, the transaction would have a value of USD13.8 million, or USD2.37 per Coast Bancorp common share. Sierra Bancorp expects the acquisition to be immediately accretive to earnings per share, and will yield a tangible book value earnback of less than four years and an IRR in excess of 20 percent. The boards of Sierra Bancorp and Coast Bancorp unanimously approved the transaction, which is subject to customary conditions of closing including required regulatory approvals and the approval by the shareholders of Coast Bancorp. Coast Bancorp is the parent of Coast National Bank. Sierra Bancorp is the parent of Bank of the Sierra. In the transaction Coast Bancorp will be merged into Sierra Bancorp, followed by the merger of Coast National Bank into Bank of the Sierra. Coast National Bank is a local community bank serving the needs of consumers and businesses through three locations throughout San Luis Obispo County. As of September 30, 2015, the bank had approximately USD146.4 million in assets. Sierra Bancorp (NASDAQ: BSRR) is a publicly traded company with approximately USD1.7 billion in assets. Headquartered in Porterville, California, the company operates primarily through Bank of the Sierra. The bank is a multi-community financial institution that offers a full range of retail and commercial banking services, primarily in the central and southern sections of the San Joaquin Valley. The bank specializes in agricultural lending and works with many of the businesses in that region.
BSRR: 16.70 (+0.32)
Sierra Bancorp Announces Agreement to Acquire Coast Bancorp of San Luis Obispo County
Marketwired - Tue Jan 05, 1:35PM CST
Sierra Bancorp (NASDAQ: BSRR), the holding company of Bank of the Sierra, announced the signing of a definitive agreement to acquire Coast Bancorp (OTCBB: CTBP) of San Luis Obispo County, California. Under the agreement the outstanding shares of Coast Bancorp will be entitled to receive aggregate consideration of $3.2 million in cash and 581,753 shares of Sierra Bancorp common stock. Coast Bancorp shareholders may elect to receive cash, Sierra Bancorp common stock or a combination of both, subject to proration. Based on the closing price of Sierra Bancorp common stock on January 4, 2016, the transaction would have a value of $13.8 million, or $2.37 per Coast Bancorp common share. However, the deal value will fluctuate with changes in Sierra Bancorp's stock price.
BSRR: 16.70 (+0.32)
Downgrade Alert for Sierra Bancorp (BSRR)
Comtex SmarTrend(R) - Thu Dec 17, 7:19AM CST
Sierra Bancorp (NASDAQ:BSRR) was downgraded from Outperform to Market Perform at Raymond James today. The stock closed yesterday at $18.30 on volume of 12,000 shares, below average daily volume of 15,000. Sierra Bancorp is the holding company for Bank of the Sierra. The Bank grants commercial, real estate mortgage, real estate construction and consumer loans to consumers, farmers and businesses in the South Central San Joaquin Valley of California, specifically Tulare, Fresno, Kern, Kings and Madera counties. Bank of the Sierra also offers Internet banking.
BSRR: 16.70 (+0.32)
Sierra Bancorp announces 67th consecutive quarterly dividend of USD0.11 per share
M2 - Mon Oct 19, 3:06AM CDT
The board of directors of Sierra Bancorp (Nasdaq:BSRR) authorised a regular cash dividend of USD0.11 per share for the quarter, the company reported on Friday.
BSRR: 16.70 (+0.32)
