SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June 14, 2001
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SIERRA BANCORP
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(Exact name of registrant as specified in its charter)
California N/A 33-0937517
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(State or other jurisdiction (Commission file No.) (I.R.S. Employee
of incorporation or organization) Identification No.)
86 North Main Street, Porterville, CA 93257
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(Address of principal executive offices)
(Zip code)
(559) 782-4900
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(Registrant's telephone number including area code)
(Former name or former address, if changed since last report) Not applicable
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Item 4. Changes in Registrant's Certifying Accountant.
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At its Board of Directors meeting on June 14, 2001, the Board of Directors
of Sierra Bancorp (the "Company"), Porterville, California, terminated the
services of McGladrey & Pullen LLP ("M&P")). At the same meeting, the Board of
Directors selected the accounting firm of Perry Smith, LLP as independent
auditors for the remainder of the Company's 2001 fiscal year. The determination
to replace M&P was recommended by the audit committee and approved by the full
board of directors of the Company.
The Company was recently incorporated for the purpose of acquiring Bank of
the Sierra (the "Bank") in a one bank holding company reorganization pursuant to
which the Bank will become a wholly-owned subsidiary of the Company, and all of
the shareholders of the Bank will exchange their shares for shares of the
Company (the "Reorganization"). It is anticipated that the Reorganization will
be consummated in July 2001.
M&P audited the consolidated financial statements for the Bank for the
years ended December 31, 2000 and 1999. M&P's report on the financial
statements for the last two fiscal years of the Bank did not contain an adverse
opinion or disclaimer of opinion, nor were such reports qualified or modified as
to uncertainty, audit scope or accounting principles.
During the two fiscal years ended December 31, 2000 and 1999 and the
subsequent interim period January 1, 2001 through June 14, 2001, there were no
disagreements with M&P and the Bank or the Company on any matter of accounting
principles or practices, financial statement disclosure or auditing scope or
procedure, which disagreements, if not resolved to the satisfaction of M&P,
would have caused it to make reference to the subject matter of the
disagreements in connection with its reports.
The Company has requested that M&P review the disclosure in this Report on
Form 8-K, and M&P has been given the opportunity to furnish the Company with a
letter addressed to the Securities and Exchange Commission containing any new
information, clarification of the Company's expression of its views, or the
respects in which it does not agree with the statements made by the Company
herein. Such letter is filed as an exhibit to this Report.
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(c) Exhibits.
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16. Letter from McGladrey & Pullen
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SIERRA BANCORP
Dated: June 20, 2001 By: /s/ Jack B. Buchold
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Jack B. Buchold, Senior Vice President
and Chief Financial Officer
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EXHIBIT INDEX
Exhibit No. Description Page
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16 Letter from McGladrey & Pullen 6
5