Sierra Bancorp authorizes one million share repurchase and declares $0.27 dividend

The Board of Directors of Sierra Bancorp (Nasdaq: BSRR) has approved a new share repurchase program authorizing the purchase of up to one million shares of its outstanding common stock. The new program will commence after the current repurchase program expires on October 31, 2026, and will continue until October 31, 2027. This authorization replaces and supersedes the previous program dated October 23, 2025, which also covered one million shares.

As of the announcement, 381,532 shares remain available for repurchase under the current program that expires at the end of October. The company stated that shares may be repurchased through open-market transactions or privately negotiated transactions, provided they comply with applicable federal and state securities laws. The timing and volume of these repurchases will depend on factors including price, trading volume, corporate and regulatory requirements, and market conditions. Management is also authorized to enter into a 10b5-1 Plan with a nationally recognized broker-dealer to facilitate the buybacks.

The Board simultaneously declared a regular quarterly cash dividend of $0.27 per share. This declaration followed the Board’s review of the company’s financial performance and capital for the quarter ended September 30, 2026. The dividend is scheduled to be paid on November 9, 2026, to shareholders of record as of November 2, 2026. According to the release, this payment marks the company’s 111th consecutive quarterly cash dividend, a streak that includes dividends paid by Bank of the Sierra prior to the formation of Sierra Bancorp.

Sierra Bancorp serves as the holding company for Bank of the Sierra, which is in its 49th year of operations. The bank operates 34 full-service branches across Tulare, Kern, Kings, Fresno, Ventura, San Luis Obispo, and Santa Barbara counties in California. It also maintains an online branch and provides specialized lending through its mortgage warehouse division. Bank of the Sierra holds a 5-star rating from Bauer Financial. Kevin McPhaill, President and Chief Executive Officer of Sierra Bancorp, is listed as the contact for this announcement.