Sierra Bancorp Says CEO James Holly To Retire, COO Kevin McPhaill To Succeed

(RTTNews) - Sierra Bancorp. (BSRR), the holding company for Bank of the Sierra, said James Holly plans to retire as Chief Executive Officer of Sierra Bancorp and the bank on March 31, 2015.

Holly was instrumental in starting the Porterville, California-based bank in 1977, and maintained his role as bank President and CEO for over 36 years. He has seen Bank of the Sierra flourish from a small, single office bank to a 25 branch multi-community bank.

Through multiple recessions, and a corporate building fire in the early 90's, Holly and his team managed to generate a profit every year since 1982.

Although Holly will retire as CEO, he will continue as a director and will retain all current Board committee assignments.

In addition, he will be appointed Vice Chairman of the Board for both Sierra Bancorp and the Bank, with oversight for merger and acquisition activities.

Further, the Board of Directors said President and Chief Operating Officer Kevin McPhaill has been designated as Holly's successor, to be appointed by the Board as President and Chief Executive Officer for Sierra Bancorp and Bank of the Sierra upon Holly's retirement.

McPhaill has been in banking for 24 years, including 13 years with Bank of the Sierra.