Sierra Bancorp SEC Filings

Sierra Bancorp announced a leadership transition in its finance function. Senior Vice President & Chief Accounting Officer Cindy Dabney will retire and resign as Principal Accounting Officer effective January 5, 2026. Executive Vice President & Chief Financial Officer Christopher G. Treece (age 57) will assume the role of Principal Accounting Officer.

Treece has served as CFO of the company and Bank since January 2020, and there will be no changes to his compensation in connection with this appointment.

Sierra Bancorp reported steady results for the quarter ended September 30, 2025. Q3 net income was $9.7M versus $10.6M a year ago, as higher credit loss expense tempered improved core spread income. Net interest income rose to $32.0M from $30.8M, while total interest expense declined to $12.0M from $14.0M. Credit loss expense on loans increased to $3.7M from $1.2M.

Total assets reached $3.71B, up from $3.61B at year-end. Gross loans grew to $2.49B from $2.33B, and deposits were $2.93B, modestly higher than $2.89B. Noninterest-bearing deposits were $1.07B. Accumulated other comprehensive loss improved to $(25.2)M from $(31.3)M, supporting equity.

Book value per share was $26.71 (up from $24.88). Diluted EPS was $0.72 for Q3 and $2.15 year-to-date. The company paid a quarterly dividend of $0.25 and repurchased shares, reducing outstanding shares to 13,482,458 as of October 27, 2025. Other borrowings increased to $135.0M, and repurchase agreements were $125.7M.

Sierra Bancorp furnished an 8-K under Item 2.02 announcing it issued a press release with unaudited consolidated financial results for the three- and nine-month periods ended September 30, 2025.

The press release is attached as Exhibit 99.1 and, as furnished information, is not deemed “filed” for purposes of Section 18 of the Exchange Act nor incorporated by reference into other filings. Sierra Bancorp’s common stock trades on the NASDAQ Global Select Market under the symbol BSRR.

Sierra Bancorp announced two shareholder actions. The Board approved a new share repurchase program for up to 1,000,000 shares of common stock, beginning after the current program expires on October 31, 2025 and continuing through October 31, 2026. No shares remain available under the existing program.

The company may repurchase shares in the open market or through privately negotiated transactions in compliance with applicable laws, including Rules 10b-18 and 10b5-1. Management is authorized to enter into a 10b5-1 trading plan with a nationally recognized broker when not in a blackout period and not in possession of material non-public information.

The Board also approved a quarterly cash dividend of $0.25 per share, payable on November 14, 2025 to shareholders of record as of the close of business on November 3, 2025.

Christopher G. Treece, EVP/Chief Financial Officer of Sierra Bancorp (BSRR), reported a disposition of 1,954 shares of the issuer's common stock on 08/20/2025 at a price of $29.26 per share. The filing states the shares were withheld to satisfy tax withholding obligations arising from the vesting of previously awarded restricted stock. After the withholding, Mr. Treece beneficially owns 36,877 shares, held directly. The Form 4 was signed on 08/25/2025 and identifies the action as a routine tax-related share withholding rather than an open-market sale.

Kevin J. McPhaill, President/CEO of Sierra Bancorp (BSRR), reported a transaction on Form 4 showing the withholding of 3,385 shares of common stock to satisfy tax withholding from the vesting of previously awarded restricted stock. The withheld shares were disposed of at a price of $29.26 per share. After the transaction, Mr. McPhaill beneficially owned 63,294 shares of Sierra Bancorp common stock. An additional line in the filing reports 20,699 shares as beneficially owned or disposed, but the filing does not provide further detail about that line.

Michael Olague, Executive Vice President/Chief Banking Officer of Sierra Bancorp (BSRR), reported sales of common stock on 08/20/2025. He disposed of 2,257 shares at a price of $29.26 per share to satisfy tax withholding related to the vesting of previously awarded restricted stock; following that transaction he directly beneficially owned 24,914 shares. The filing also shows an additional disposition of 8,809 shares (no price listed on that line). The Form 4 is signed 08/25/2025 and documents routine insider tax-withholding activity tied to equity compensation.

Michael Olague, EVP/Chief Banking Officer of Sierra Bancorp (BSRR), reported exercising four option grants to acquire a total of 5,593 common shares on 08/08/2025 at strike prices of $28.21, $27.35, $27.30 and $27.11. He subsequently sold 5,593 shares at $28.35 and 3,600 shares at $28.5005, leaving reported direct beneficial ownership of 8,809 shares. The derivative table shows the exercised options had expirations between 2027 and 2030.

Sierra Bancorp (BSRR) Form 144 reports a proposed sale of 5,593 common shares through Morgan Stanley Smith Barney LLC with an approximate sale date of 08/08/2025. The filing lists an aggregate market value of $158,561.55 and shows 13,590,273 shares outstanding.

The securities were acquired on 08/08/2025 by stock option exercise from the issuer and payment is listed as cash. The filer reports no securities sold in the past three months and makes the standard representation that they do not know of undisclosed material adverse information. This notice serves as a procedural disclosure under Rule 144 of an intended resale.