10 unchanged sentences
December 31, 2022
−Removed: March 31, 2021
−Removed: June 30, 2021
−Removed: September 30, 2021
−Removed: December 31, 2021
As of January 31, 2023 there were an estimated 7,018 shareholders of the Company’s Common Stock.
9 unchanged sentences
The authority of the Bank’s Board of Directors to declare cash dividends is also subject to statutory restrictions.
−Removed: Under California banking law, the Bank may at any time declare a dividend in an amount not to exceed the lesser of (i) its retained earnings, or (ii) its net income for the last three fiscal years reduced by distributions to the Bank’s shareholder during such
+Added: Under California banking law, the Bank may at any time declare a dividend in an amount not to exceed the lesser of (i) its retained earnings, or (ii) its net income for the last three fiscal years reduced by distributions to the Bank’s shareholder during such period.
However, with the prior approval of the California Commissioner of Department of Financial Protection and Innovation, the Bank may declare a larger dividend, in an amount not exceeding the greatest of (i) the retained earnings of the Bank, (ii) the net income of the Bank for its last fiscal year, or (iii) the net income of the Bank for its current fiscal year.
18 unchanged sentences
(e) Performance Graph
−Removed: Below is a five-year performance graph comparing the cumulative total return on the Company’s common stock to the cumulative total returns of the NASDAQ Composite Index (a broad equity market index), the SNL Bank Index, and the SNL $1 billion to $5 billion Bank Index (the latter two qualifying as peer bank indices), assuming a $100 investment on December 31, 2016 and the reinvestment of dividends.
+Added: Below is a five-year performance graph comparing the cumulative total return on the Company’s common stock to the cumulative total returns of the Nasdaq Composite Index (a broad equity market index), the S&P Bank Index, and the S&P $1 billion to $5 billion Bank Index (the latter two qualifying as peer bank indices), assuming a $100 investment on December 31, 2017 and the reinvestment of dividends.
Period Ending
Sierra Bancorp
−Removed: NASDAQ Composite
−Removed: SNL Bank $1B-$5B
+Added: Nasdaq Composite Index
+Added: SmallCap Banks Index
+Added: BMI Banks Index
S&P Global Market Intelligence
(f) Stock Repurchases
−Removed: 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.
−Removed: 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.
−Removed: The following table provides information concerning the Company’s stock repurchase transactions during the fourth quarter of 2021:
−Removed: Total Number of Shares Purchased
−Removed: Average Price Paid per Share
−Removed: Total Number of Shares Purchased as Part of a Publicly Announced Plan
−Removed: Maximum Number (or Approximate Dollar Value) of Shares That May Yet Be Purchased Under the Plan at the End of the Period
−Removed: October 1, 2021 - October 31, 2021
−Removed: November 1, 2021 - November 30, 2021
−Removed: December 1, 2021 - December 31, 2021
+Added: On October 20, 2022 the Board approved the 2022 Share Repurchase Plan by authorizing 630,000 shares of common stock for repurchase and expires on October 31, 2023.
+Added: There were 370,000 shares purchased under the 2021 Share Repurchase Plan which had authorized 1,000,000 shares of common stock for repurchase and expired on October 31, 2022.
+Added: There were no stock repurchase transactions during the fourth quarter of 2022 and all 630,000 shares of common stock authorized under the 2022 Share Repurchase Plan remain available for repurchase at the end of 2022.
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.