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Stock Market & Financial Investment News

News Breaks
July 17, 2014
18:20 EDTBSRRSierra Bancorp to acquire Santa Clara Valley Bank for $15.3M
Sierra Bancorp signed a definitive agreement to acquire Santa Clara Valley Bank of Santa Paula, California, for aggregate cash consideration of $15.3M. The consideration consists of $12.3M or $6.00 per share to common shareholders and cash consideration of $3.0M to preferred shareholders to retire outstanding preferred stock and associated warrants. Included in the $12.3M, Sierra will pay $700K to cash out existing in-the-money warrants. Sierra Bancorp expects the acquisition to be immediately accretive to EPS, and will yield a tangible book value earnback of less than 3.5 years and an IRR in excess of 20%.
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October 20, 2014
08:12 EDTBSRRSierra Bancorp reports Q3 EPS 25c, consensus 28c
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