56Chevy
10 years ago
Statement of Beneficial Ownership (sc 13d)
Date : 08/21/2014 @ 4:52PM
Source : Edgar (US Regulatory)
Stock : Sierra Bancorp (MM) (BSRR)
Quote : $17.51 -0.21 (-1.19%) @ 2:08PM
Matthew Lindenbaum
Basswood Capital Management, L.L.C.
645 Madison Avenue, 10th Floor
New York, NY 10022
[....]
Item 1. Security and the Issuer
This Schedule 13D relates to the common stock, no par value (the “Common Stock”), of Sierra Bancorp, a California corporation (the “Issuer”), and is being filed pursuant to Rule 13d-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The address of the Issuer’s principal executive offices is 86 North Main Street, Porterville, California 93257.
Item 2. Identity and Background
(a) This Schedule 13D is being filed on behalf of:
(i) Basswood Capital Management, L.L.C. (the “Management Company”), Basswood Partners, L.L.C. (“Basswood Partners”), Basswood Enhanced Long Short GP, LLC (“Basswood Long Short GP”), each a Delaware limited liability company;
(ii) Basswood Financial Fund, LP, Basswood Enhanced Long Short Fund, LP, Basswood Financial Long Only Fund, LP, each a Delaware limited partnership, Basswood Financial Fund, Inc., Main Street Master, Ltd., each a Cayman Islands corporation, (collectively, the “Funds”); and
(iii) Matthew Lindenbaum and Bennett Lindenbaum.
[....]
Item 4. Purpose of Transaction.
Based on, among other things, the Issuer’s strong banking franchise in the Southern San Joaquin Valley and the Management Company’s belief that the shares of Common Stock are trading at a significant discount to their fair value, the Management Company acquired the shares of Common Stock for the purpose of investment.
As a result of the recent announcement that the Issuer has entered into an Agreement and Plan of Consolidation to acquire Santa Clara Valley Bank, N.A., the Management Company began to reassess its investment in the Common Stock and whether the Issuer’s current business strategy is adequate to enhance shareholder value. In connection with this ongoing reassessment, the Management Company will continue to monitor the strategy and performance of the Issuer and the actions of the Issuer’s management and board of directors, and if needed, will develop such plans or proposals, including those referred to in subparagraphs (a) – (j) of Item 4 of Schedule 13D, as the Management Company may determine are necessary to enhance shareholder value.
In addition, with respect to the Issuer, the Management Company may engage in discussions with the Board, the Issuer’s management, other shareholders of the Issuer, knowledgeable industry or market observers, potential acquirors of the Issuer and other persons regarding the Issuer’s business, strategy and future plans and alternatives that the Issuer could employ to increase shareholder value. Any such discussions may include plans or proposals relating to or resulting in any of the matters set forth in subparagraphs (a) – (j) of Item 4 of Schedule 13D.
[....]
http://ih.advfn.com/p.php?pid=nmona&article=63340135
Marker:
Sierra Bancorp (BSRR)
$17.44 down -0.28 (-1.58%)
Volume: 17,336
buhg1b
17 years ago
Sierra Bancorp Declares Quarterly Cash Dividend
Friday April 18, 6:37 am ET
PORTERVILLE, Calif., April 18 /PRNewswire-FirstCall/ -- Sierra Bancorp (Nasdaq: BSRR - News), parent of Bank of the Sierra, today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.17 per share, which is the same as the dividend paid last quarter but represents a 13% increase relative to the $0.15 quarterly dividend paid a year ago. The dividend will be paid on May 15, 2008 to shareholders of record as of May 1, 2008.
Sierra Bancorp is the holding company for Bank of the Sierra (http://www.bankofthesierra.com), which is in its 31st year of operations and is the largest independent bank headquartered in the South San Joaquin Valley. The Company has over $1.2 billion in total assets and currently maintains 21 branch offices, an agricultural credit center, an SBA center, and an online "virtual" branch. In January 2008, Sierra Bancorp was recognized as the 2nd best performing mid-tier bank in the nation and the 6th bank overall by U.S. Banker magazine, based on return on equity.
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'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's SEC filings. Sierra Bancorp undertakes no responsibility to update or revise any forward-looking statements.
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Source: Sierra Bancorp
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