13D Filing: Basswood Capital Further Cuts Stake in Sierra Bancorp (BSRR)

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Below and on the following pages we have embedded the latest 13D activist filing related to Sierra Bancorp (NASDAQ:BSRR), which was recently submitted by Matthew Lindenbaum‘s Basswood Capital, declaring a position of 645,763 shares.  That represents a decrease of over 108,000 shares from the position it reported holding a week ago, which itself was a decline of about 191,000 shares from the end of 2015 up until that point. Basswood Capital’s ownership of Sierra Bancorp has now fallen below the 5% reporting threshold, to 4.9%.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Basswood Capital Management 0 645,763 0 645,763 645,763 4.9%
Basswood Partners 0 8,806 0 8,806 8,806 0.1%
Basswood Enhanced Long Short GP 0 64,299 0 64,299 64,299 0.5%
Basswood Financial Fund 0 7,182 0 7,182 7,182 0.1%
Basswood Financial Fund, Inc 0 3,166 0 3,166 3,166 0.0%
Basswood Financial Long Only Fund 0 1,624 0 1,624 1,624 0.0%
Basswood Enhanced Long Short Fund 0 64,299 0 64,299 64,299 0.5%
Main Street Master, Ltd 0 544,758 0 544,758 544,758 4.1%
BCM Select Equity I Master, Ltd 0 3,099 0 3,099 3,099 0.0%
Matthew Lindenbaum 0 645,763 0 645,763 645,763 4.9%
Bennett Lindenbaum 0 645,763 0 645,763 645,763 4.9%

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Page 1 of 16 SEC Filing

Washington, D.C. 20549 SCHEDULE 13D
Under the Securities Exchange Act of 1934 (Amendment No. 4)
Sierra Bancorp

(Name of Issuer)
Common Stock, No Par Value

(Title of Class of Securities)
(CUSIP Number)
Matthew Lindenbaum
Basswood Capital Management, L.L.C.
645 Madison Avenue, 10th Floor New York, NY 10022
(212) 521-9500

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
(with copies to)
Michael A. Schwartz, Esq.
Willkie Farr & Gallagher LLP
787 Seventh Avenue
New York, NY 10019
(212) 728-8000
February 19, 2016

(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 240.13d-7 for other parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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