Bank of the Sierra Announces Completion of Merger.

Business Editors

PORTERVILLE, Calif.--(BUSINESS WIRE)--May 30, 2000

James C. Holly, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bank of the Sierra (Nasdaq:BSRR BSRR Birmingham Southern Railroad (Alabama) ), announced that the anticipated acquisition and merger with Sierra National Bank was completed as planned on Friday, May 19, 2000.

"At the close of business on Friday, we had Conversion Team members in each branch to help balance the bank and make the necessary cosmetic changes to the locations. We are very pleased to have been able to finalize fi·nal·ize
tr.v. fi·nal·ized, fi·nal·iz·ing, fi·nal·iz·es
To put into final form; complete or conclude: "They have jointly agreed ... this merger," notes Holly. "With the addition of these four branches it helps give Bank of the Sierra more recognition in Kern Kern, river, 155 mi (249 km) long, rising in the S Sierra Nevada Mts., E Calif., and flowing south, then southwest to a reservoir in the extreme southern part of the San Joaquin valley. The river has Isabella Dam as its chief facility. County."

The acquisition provided four new branch locations - two in Tehachapi and one each in California City and Bakersfield, as well as increasing the Bank's Total Assets to approximately $590,000,000 and total employees (full-time equivalent Full-time equivalent (FTE) is a way to measure a worker's involvement in a project, or a student's enrollment at an educational institution. An FTE of 1.0 means that the person is equivalent to a full-time worker, while an FTE of 0.5 signals that the worker is only half-time. ) to 320.

Bank of the Sierra is the largest independent bank headquartered in the South Valley, and operates sixteen branch offices as well as five real estate centers, three ag credit centers and a bank card center. More information about Bank of the Sierra is available on the Bank's web site, www.bankofthesierra.com.

COPYRIGHT 2000 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.

Reader Opinion

Article Details
Printer friendly Cite/link Email Feedback
Publication:	Business Wire
Geographic Code:	1USA
Date:	May 30, 2000
Words:	193
Previous Article:	IFS and Metamor Form Alliance to Provide e-Business and Enterprise Solutions to Federal Government.
Next Article:	UC Berkeley Extension Instructor Offers Technology for the Rest of Us.
Topics:	Banking industry Commercial banks

Related Articles
E*OFFERING Completed Largest Offering by an Online Investment Bank; As Lead Underwriter for First Sierra -- BTOB -- Sells 4.0 Million Shares in...
E*OFFERING Completed Largest Offering by an Online Investment Bank; As Lead Underwriter for First Sierra, Sells 4.0 Million Shares in Public Offering.
Bank of the Sierra Receives Regulatory Approval of Merger With Sierra National Bank.
Western Sierra Bancorp Partners With Central California Bank.
Central California Bank to Acquire Sentinel Community Bank Branches; Will Become Subsidiary Of Western Sierra Bancorp.
REPEAT/Central California Bank to Acquire Sentinel Community Bank Branches; Will Become Subsidiary Of Western Sierra Bancorp.
Western Sierra Bancorp Announces Completion of Trust Preferred Securities Issuance.
Applications approved under Bank Merger Act by Federal Reserve Banks. (Legal Developments).
UnitedHealth Group to merge with PacifiCare in $8 billion deal.