Sierra Bancorp Unveils Share Repurchase Program and Quarterly Cash Dividend

In a strategic decision, Sierra Bancorp's Board of Directors has approved a new share repurchase program that will enable the company to repurchase up to one million shares of its outstanding common stock. This program is set to commence after the expiration of the current repurchase program on October 31, 2025, and will run until October 31, 2026.

This new initiative replaces the previous share repurchase program, which was authorized on October 17, 2024, also for one million shares. Notably, no shares remain available for repurchase under the existing program. The repurchases will be conducted in accordance with federal and state securities laws and may occur through open-market transactions or privately negotiated deals. The timing and volume of repurchases will depend on various factors, including market conditions, trading volume, and regulatory requirements.

Additionally, the Board has authorized management to enter into a 10b5-1 Plan with a nationally recognized broker-dealer to facilitate these share repurchases efficiently.

Alongside the share repurchase announcement, Sierra Bancorp's Board of Directors declared a regular quarterly cash dividend of $0.25 per share. This dividend is scheduled to be paid on November 14, 2025, to shareholders on record as of November 3, 2025.

This latest dividend represents the 107th consecutive quarterly cash dividend paid by the company, a notable achievement that underscores Sierra Bancorp's long-standing commitment to returning value to its shareholders. Since its inception, the company has consistently paid dividends, with a history of annual dividends until 1998 and quarterly dividends thereafter.

Sierra Bancorp serves as the holding company for Bank of the Sierra, which has been operational for nearly 48 years and is recognized as one of the largest independent banks in the South San Joaquin Valley. The bank prides itself on being community-centric, offering a variety of retail and commercial banking services through multiple branches across several counties, including Tulare, Kern, Kings, Fresno, Ventura, San Luis Obispo, and Santa Barbara. Additionally, Bank of the Sierra operates an online branch and provides specialized lending services through its agricultural credit center located in Templeton, California.

In 2025, Bank of the Sierra received accolades for its outstanding performance, earning a 5-star rating from Bauer Financial, solidifying its reputation as one of the top-performing community banks in the nation.

Sierra Bancorp's recent announcements regarding the share repurchase program and the declaration of a quarterly cash dividend are indicative of the company's strong financial position and its strategic focus on enhancing shareholder value. As the company moves forward with its initiatives, it remains committed to maintaining its status as a leading community bank while navigating the complexities of the financial landscape.