[Sierra Bancorp] – Sierra Bancorp announced the completion Friday of its acquisition of Santa Paula-based Santa Clara Valley Bank, N.A. The aggregate consideration paid by Sierra Bancorp to the shareholders and warrant holders of SCVE was approximately $15.3 million.

As announced on July 17, 2014, Sierra Bancorp entered into a definitive agreement to acquire SCVE, with $129 million in assets and branches in Santa Paula, Santa Clarita, and Fillmore, California. Each of the acquired branches will remain open and will be rebranded as Bank of the Sierra branches. Additionally, SCVE customers will now have access to Bank of the Sierra’s enhanced suite of products and services, as well as the convenience of 25 branch locations in Central California.

“With the acquisition complete, ensuring our new Santa Clara Valley Bank customers enjoy a seamless transition will be our major focus,” said Jim Holly, Bank of the Sierra CEO. “Although we have other projects and endeavors, it is important not to lose sight of the personal touch that a community bank can offer,” continued Holly. “Our personal touch and community focus is an important part of our continued success.”

Sierra Bancorp is the holding company for Bank of the Sierra (www.bankofthesierra.com), which is in its 37^th year of operations and at $1.6 billion in assets is the largest independent bank headquartered in the South San Joaquin Valley.  The Company now has approximately 440 employees and conducts business through 28 branch offices, an online branch, a real estate industries center, and an agricultural credit center.