Business Description

1. THE BUSINESS OF SIERRA BANCORP Sierra Bancorp (the “Company”) is a California corporation registered as a bank holding company under the Bank Holding Company Act of 1956, as amended, and is headquartered in Porterville, California. The Company was incorporated in November 2000 and acquired all of the outstanding shares of Bank of the Sierra (the “Bank”) in August 2001. The Company’s principal subsidiary is the Bank, and the Company exists primarily for the purpose of holding the stock of the Bank and its subsidiaries, two special purpose entities organized to facilitate repossessed assets, and of such other subsidiaries it may acquire or establish. The Company’s only other direct subsidiaries are Sierra Statutory Trust II, Sierra Capital Trust III, and Coast Bancorp Statutory Trust II, which were formed solely to facilitate the issuance of capital trust pass-through securities. At December 31, 2025, the Bank operated 34 full-service branch offices and provides specialized lending services through a Mortgage Warehouse lending division. The Bank’s deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to applicable legal limits. The Bank maintains a diversified loan portfolio comprised of commercial, real estate, construction, mortgage loans, consumer, and mortgage warehouse lines. Loans are primarily made in California within the market area of the South Central San Joaquin Valley, the Central Coast, Ventura County, and neighboring communities while mortgage warehouse customers are located throughout the United States. Our California footprint has diverse economies with principal industries being agriculture, real estate, oil and gas, service, government, healthcare, and light manufacturing.