23 unchanged sentences
Based on this assessment, Management believes that Bank of the Sierra complied, in all significant respects, with the designated laws and regulations related to safety and soundness for the year ended December 31, 2024.
−Removed: Our assessment of the effectiveness of the Company’s internal control over financial reporting as of December 31, 2023 has been audited by RSM, US, an independent registered public accounting firm and as of December 31, 2022 has been audited by Eide Bailly, an independent registered public accounting firm, as stated in their reports appearing above in Item 8, Financial Statements and Supplementary Data.
+Added: Our assessment of the effectiveness of the Company’s internal control over financial reporting as of December 31, 2024 and December 31, 20203 has been audited by RSM US LLP, an independent registered public accounting firm, as stated in their reports appearing above in Item 8, Financial Statements and Supplementary Data.
Changes in Internal Control
23 unchanged sentences
3.25% Fixed to Floating Subordinated Debt issued September 24, 2021 (4)
+Added: Indenture dated as of March 17, 2004 between U.S.
+Added: Bank N.A., as Trustee, and Sierra Bancorp, as Issuer (7)
+Added: Indenture dated as of June 15, 2006 between Wilmington Trust Co., as Trustee, and Sierra Bancorp, as Issuer (8)
+Added: Indenture dated as of September 20, 2007 between Wilmington Trust Co., as Trustee, and Coast Bancorp, as Issuer (13)
+Added: First Supplemental Indenture dated as of July 8, 2016, between Wilmington Trust Co.
+Added: as Trustee, Sierra Bancorp as the “Successor Company”, and Coast Bancorp (13)
Salary Continuation Agreement for Kenneth R.
2 unchanged sentences
401 Plus Non-Qualified Deferred Compensation Plan (6) *
−Removed: Indenture dated as of March 17, 2004 between U.S.
−Removed: Bank N.A., as Trustee, and Sierra Bancorp, as Issuer (7)
Amended and Restated Declaration of Trust of Sierra Statutory Trust II, dated as of March 17, 2004 (7)
−Removed: Indenture dated as of June 15, 2006 between Wilmington Trust Co., as Trustee, and Sierra Bancorp, as Issuer (8)
Amended and Restated Declaration of Trust of Sierra Capital Trust III, dated as of June 15, 2006 (8)
9 unchanged sentences
McPhaill (12) *
−Removed: Indenture dated as of September 20, 2007 between Wilmington Trust Co., as Trustee, and Coast Bancorp, as Issuer (13)
Amended and Restated Declaration of Trust of Coast Bancorp Statutory Trust II, dated as of September 20, 2007 (13)
−Removed: First Supplemental Indenture dated as of July 8, 2016, between Wilmington Trust Co.
−Removed: as Trustee, Sierra Bancorp as the “Successor Company”, and Coast Bancorp (13)
2017 Stock Incentive Plan (14) *
1 unchanged sentence
Employment agreement dated as of November 15, 2019 for Christopher Treece, EVP and CFO (16)*
−Removed: Employment agreement dated as of January 17, 2020 for Jennifer Johnson, EVP and CAO (17)*
Employment agreement dated as of December 14, 2020 for Hugh Boyle, Chief Credit Officer (17)*
3 unchanged sentences
Split Dollar Agreement and Amendment thereto for James C.
−Removed: First Amendments to employment agreements dated as of January 19, 2023 for Kevin McPhaill, CEO , Christopher Treece, CFO , Hugh Boyle, CCO , Michael Olague, CBO , and Jennifer Johnson, CAO (21)*
+Added: First Amendments to employment agreements dated as of January 19, 2023 for Kevin McPhaill, CEO , Christopher Treece, CFO , Hugh Boyle, CCO , and Michael Olague, CBO (20)*
Split Dollar Agreement for Albert Berra (22)*
−Removed: 10b5-1 Plan for Susan Abundis (22)
+Added: 10b5-1 Plan for Lynda Scearcy
Employment agreement dated as of August 25, 2023 for Natalia Coen, Chief Risk Officer (21)*
+Added: Insider Trading Policy
Subsidiaries of Sierra Bancorp
28 unchanged sentences
(16) Filed as Exhibit 99.1 to the Form 8-K filed with the SEC on November 11, 2019 and incorporated by reference.
−Removed: (17) Filed as Exhibit 99.1 to the Form 8-K filed with the SEC on January 21, 2020 and incorporated by reference.
(17) Filed as Exhibit 10.1 to the Form 8-K filed with the SEC on December 09, 2020 and incorporated herein by reference.
2 unchanged sentences
(20) Filed as Exhibits 10.1 through 10.5 to the form 8-K filed with the SEC on January 19, 2023 and incorporated herein by reference.
−Removed: (22) Filed as Exhibit 10.27 to the form 10-Q filed with the SEC on August 3, 2023 and incorporated herein by reference.
(21) Filed as Exhibit 10.1 to the form 8-K filed with the SEC on August 31, 2023 and incorporated herein by reference.
(22) Filed as Exhibit 10.26 to the form 10-Q filed with the SEC on May 5, 2023 and incorporated herein by reference.
+Added: (23) Filed as Exhibit 97.1 to the form 10-K filed with the SEC on March 22, 2024 and incorporated herein by reference.
Indicates management contract or compensatory plan or arrangement.
51 unchanged sentences
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.