OCB Bancorp is a full service commercial bank in southern California.

According to the Complaint, on April 24, 2017, the Board caused OCB to enter into an agreement and plan of merger with Sierra (the “Merger Agreement”). Pursuant to the terms of the Merger Agreement, stockholders of OCB will receive a number of shares of the common stock of Sierra equal to $14.00 per OCB common share, subject to certain adjustments.

On June 14, 2017, Defendants filed a Form S-4 Registration Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.

This case was voluntarily dismissed on October 10, 2017.