Sierra Bancorp · NASDAQ:BSRR
Sierra Bancorp — Merger or Acquisition (April 2017)
7 slides from Sierra Bancorp's merger presentation, Apr 25, 2017
Slide 1: Sierra Bancorp Acquisition of OCB Bancorp
SIERRA BANCORP Acquisition of OCB Bancorp Investor Presentation April 24, 2017
Slide 2: Safe Harbor Statement
Saf e H arbor S t atem ent • Thi s p r e se n t a t i o n c o n t ains f o r w a r d - look i ng s t a t em e n ts th a t a r e: □ Sub je c t t o c o n ti n g encies & u nce r t a i n ties □ Not a g u a r a nt ee o f f u t u r e per f o r mance □ Based o n assum p ti on s t h a t m a y c h a n g e □
Slide 3: Transaction Rationale
• BSRR (33) • OJCB (4) Acquisition expands on BSRR’s current presence in the Southern Central Coast Increases deposit market share in Ventura County and provides entry into Santa Barbara County Low cost core deposit base with 37% noninterest - bearing deposits Significant cost savings opportunity Fi
Slide 4: Transaction Overview
Transaction Overview (1) Subject to adjustment as defined in the definitive agreement. (2) Based on BSRR closing stock price of $27.22 as of 4/21/2017. Transaction Details: Transaction Value Fixed Price per Share (1) Transaction Structure (2) Required Approvals Expected Closing Due Diligence Price /
Slide 5: Pro Forma Loan Composition
Pro Forma Loan Composition Source: SNL Financial. BSRR per FR Y - 9C and Ojai Community Bank per bank call report as of 12/31/2016. Note I: NOO CRE includes farm loans. Note II: Excludes purchase accounting and other merger - related adjustments. Sierra Bancorp Ojai Community Bank Gross Loans Ojai C
Slide 6: Pro Forma Deposit Composition
Pro Forma Deposit Composition Source: SNL Financial. BSRR per FR Y - 9C and Ojai Community Bank per bank call report as of 12/31/2016. Note: Excludes purchase accounting and other merger - related adjustments. Sierra Bancorp Ojai Community Bank Total Deposits Ojai Community Bank Pro Forma Total: $1,
Slide 7: Keep Climbing - Sierra Bancorp
K E E P C L I M B I N G SIERRA BANCORP