2 unchanged sentences
Sierra Bancorp’s Common Stock trades on the NASDAQ Global Select Market under the symbol BSRR, and the CUSIP number for our stock is #82620P102.
−Removed: Trading in the Company’s Common Stock has not consistently occurred in high volumes, and such trading activity cannot always be characterized as an active trading market.
+Added: Trading in the Company’s Common Stock has not consistently occurred in high volumes, and such trading activity may not consistently be characterized as an active trading market.
The following table summarizes trades of the Company’s Common Stock, setting forth the approximate high and low sales prices and volume of trading for the periods indicated, based upon information available via public sources:
16 unchanged sentences
However, in the past when many of our peers elected to suspend dividend payments, the Company’s Board determined that we should continue to pay a certain level of dividends without regard to peer payout ratios, as long as our core operating performance was adequate and policy or regulatory restrictions did not preclude such payments.
−Removed: That said, no assurance can be given that our financial performance in any given year will justify the continued payment of a certain level of cash dividend, or any cash dividend at all.
+Added: That said, no assurance may be given that our financial performance in any given year will justify the continued payment of a certain level of cash dividend, or any cash dividend at all.
As a bank holding company that currently has no significant assets other than its equity interest in the Bank, the Company’s ability to declare dividends depends upon cash on hand as supplemented by dividends from the Bank.
29 unchanged sentences
(f) Stock Repurchases
−Removed: In September 2016 the Board authorized an additional 500,000 shares of common stock for repurchase under the Company’s existing stock buyback plan initially adopted in 2003.
−Removed: The 2003 repurchase plan has no expiration date, but from time-to-time, the Company will authorize additional shares to be repurchased if all previous authorizations have been exhausted.
−Removed: At this time, the Company has 344,862 shares remaining under the 2016 additional authorization, but has currently suspended repurchasing shares.
−Removed: The Company may resume repurchasing shares at a later date.
−Removed: The authorization of shares for repurchase does not provide assurance that a specific quantity of shares will be repurchased, and the program may be suspended at any time at Management’s discretion.
−Removed: SELECTED FINANCIAL DATA
−Removed: The following table presents selected historical financial information concerning the Company, which should be read in conjunction with our audited consolidated financial statements, including the related notes, and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included elsewhere herein.
−Removed: The selected financial data as of December 31, 2020 and 2019, and for each of the years in the three year period ended December 31, 2018, is derived from our audited consolidated financial statements and related notes which are included in this Annual Report.
−Removed: The selected financial data presented for earlier years is from our audited financial statements which are not included in this Annual Report.
−Removed: Throughout this Annual Report, information is for the consolidated Company unless otherwise stated.
−Removed: Selected Financial Data
−Removed: (dollars in thousands, except per share data)
−Removed: As of and for the years ended December 31,
−Removed: Operating Data
−Removed: Interest income
−Removed: Interest expense
−Removed: Net interest income before provision for loan and lease losses
−Removed: Provision (benefit) for loan and lease losses
−Removed: Noninterest income
−Removed: Noninterest expense
−Removed: Income before income taxes
−Removed: Provision for income taxes
−Removed: Selected Balance Sheet Summary
−Removed: Total loans and leases, net
−Removed: Allowance for loan and lease losses
−Removed: Securities available for sale
−Removed: Cash and due from banks
−Removed: Foreclosed assets
−Removed: Premises and equipment, net
−Removed: Total interest-earning assets
−Removed: Total interest-bearing liabilities
−Removed: Total deposits
−Removed: Total liabilities
−Removed: Total shareholders' equity
−Removed: Per Share Data
−Removed: Net income per basic share
−Removed: Net income per diluted share
−Removed: Cash dividends
−Removed: Weighted average common shares outstanding basic
−Removed: Weighted average common shares outstanding diluted
−Removed: Key Operating Ratios:
−Removed: Performance Ratios:
−Removed: Return on average equity
−Removed: Return on average assets
−Removed: Net interest spread (tax-equivalent) (4)
−Removed: Net interest margin (tax-equivalent)
−Removed: Dividend payout ratio
−Removed: Equity to assets ratio
−Removed: Efficiency ratio (tax-equivalent)
−Removed: Net loans to total Deposits at Period end
−Removed: Asset Quality Ratios:
−Removed: Non-performing loans to total loans (2)
−Removed: Non-performing assets to total loans and other real estate owned (2)
−Removed: Net (recoveries) charge-offs to average loans
−Removed: Allowance for loan and lease losses to total loans at period end
−Removed: Allowance for Loan and Lease Losses to Non-Performing Loans
−Removed: Regulatory Capital Ratios:
−Removed: Common equity tier 1 capital to risk-weighted assets
−Removed: Tier 1 capital to adjusted average assets (leverage ratio)
−Removed: Tier 1 capital to risk-weighted assets
−Removed: Total capital to risk-weighted assets
−Removed: (1) Asset quality ratios are end of period ratios.
−Removed: Performance ratios are based on average daily balances during the periods indicated.
−Removed: (2) Performing TDR’s are not included in nonperforming loans and are therefore not included in the numerators used to calculate these ratios.
−Removed: (3) For definitions and further information relating to regulatory capital requirements, see “Item 1, Business - Supervision and Regulation - Capital Adequacy Requirements” herein.
−Removed: (4) Represents the average rate earned on interest-earning assets less the average rate paid on interest-bearing liabilities.
+Added: The Company approved a new share repurchase program (the 2021 Share Repurchase Plan) on October 21, 2021 and authorized one million shares to be repurchased under this plan.
+Added: The previous 2003 Share Repurchase Plan was cancelled and the 268,301 shares remaining in that plan were incorporated into the 2021 Share Repurchase Plan.
+Added: The following table provides information concerning the Company’s stock repurchase transactions during the fourth quarter of 2021:
+Added: Total Number of Shares Purchased
+Added: Average Price Paid per Share
+Added: Total Number of Shares Purchased as Part of a Publicly Announced Plan
+Added: Maximum Number (or Approximate Dollar Value) of Shares That May Yet Be Purchased Under the Plan at the End of the Period
+Added: October 1, 2021 - October 31, 2021
+Added: November 1, 2021 - November 30, 2021
+Added: December 1, 2021 - December 31, 2021
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.