Plumas Bancorp reports news centered on its role as the parent company of Plumas Bank, a community banking institution serving commercial and retail customers in Northeastern California and Northwestern Nevada. Recurring updates cover quarterly earnings, net interest income, credit-loss provisions, loan and deposit trends, and the effect of the completed Cornerstone Community Bank acquisition on reported results.
Company announcements also include capital actions such as regular cash dividends and common-stock repurchase authorization, along with bank leadership changes tied to credit administration and portfolio management. The business profile includes deposit accounts, digital banking, commercial real estate, commercial and industrial, agricultural, consumer, residential real estate, and construction lending.
Plumas Bancorp (Nasdaq: PLBC) has entered into a merger agreement to acquire Feather River Bancorp in a combined stock and cash transaction valued at approximately $21 million. Upon completion, the merged entity will have around $1.3 billion in assets and $1.1 billion in deposits, expanding its market footprint across Northeastern California and Western Nevada. Feather River, with its assets of about $182 million, will enhance Plumas' service offerings. The transaction is expected to be accretive to earnings per share by approximately 6.8% in 2021 and 8.1% in 2022.
Plumas Bancorp (Nasdaq:PLBC) has declared a quarterly cash dividend of $0.14 per share, payable on February 15, 2021, to shareholders of record as of February 1, 2021. Founded in 1980, Plumas Bank operates 13 branches in California and Nevada, providing a variety of financial services. The Bank has recently received accolades for its performance, including the Community Bankers Cup from Raymond James for being among the top five performing banks nationally, and being named a 'Super Premier' performing bank for the fifth year in a row.
Plumas Bancorp (Nasdaq:PLBC) reported record earnings of $4.3 million for Q4 2020, marking a 10% increase from the previous year. Earnings per share rose to $0.82.
However, annual net income decreased by 7% to $14.5 million, with EPS dropping to $2.77.
Total assets grew 28% to $1.1 billion, while total loans and deposits increased by 15% and 30%, respectively. The bank strengthened reserves amid COVID-19 challenges.
Plumas Bancorp (Nasdaq:PLBC) announces the retirement of board director William E. Elliott after 33 years of service, effective December 31, 2020, in accordance with the company's age-based retirement policy. Elliott, who joined in 1987, played a vital role in the bank’s growth, having served as president and CEO until 2005. Chairman Daniel E. West and CEO Andrew J. Ryback lauded Elliott's contributions, emphasizing his financial insights and strategic guidance. Plumas Bank has received multiple accolades, including recognition as one of the top-performing banks in the nation.
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Plumas Bancorp (Nasdaq:PLBC) has declared a quarterly cash dividend of $0.12 per share, set to be paid on November 16, 2020. Shareholders of record as of November 2, 2020 will receive the dividend. The Bank, recognized for its performance, operates 13 branches across California and Nevada, and offers various financial services. It has received accolades, including the Community Bankers Cup for being the 2nd best performing bank nationally and ranking in the top 2% of U.S. community banks.
Plumas Bancorp (Nasdaq:PLBC) reported record total assets exceeding $1.1 billion and earnings for Q3 2020 of $3.7 million or $0.71 per share, down from $4.0 million or $0.78 per share in Q3 2019. The decline is attributed to a $500 thousand increase in the provision for loan losses due to pandemic-related economic impacts. For the nine months ended September 30, 2020, net income was $10.2 million, a decrease from $11.6 million in 2019. Total deposits rose by $201 million to $977 million, highlighting strong customer retention amidst economic uncertainty.
Plumas Bancorp (NASDAQ: PLBC) has received notable recognition by being included in D.A. Davidson’s Fall 2020 Bison Select Report and the Piper Sandler Sm-All Stars Class of 2020 for two consecutive years. The Bison Select Report highlights top-performing small and micro-cap banks, while the Sm-All Stars selects high-quality banks demonstrating strong growth and profitability metrics. CEO Andrew J. Ryback expressed pride in this recognition, underscoring the bank's commitment to delivering value to clients and shareholders while fostering community success.
Plumas Bancorp (NASDAQ: PLBC) announced its inclusion in D.A. Davidson’s Fall 2020 Bison Select Report and the Piper Sandler Sm-All Stars Class of 2020 for the second consecutive year. This recognition highlights the bank's strong performance and commitment to delivering value to clients and shareholders. The Bison Select Report features small and micro-cap banks based on performance metrics like ROA and credit quality, while the Sm-All Stars identifies top small-cap banks showing exceptional growth and profitability.
Plumas Bancorp (Nasdaq:PLBC) reported total asset growth exceeding $1 billion as of June 30, 2020. Second-quarter earnings reached $3.2 million ($0.62/share), down from $3.8 million ($0.74/share) in 2019, largely due to a $1.05 million increase in loan loss provisions linked to the pandemic. Total deposits rose by 23% to $904 million, driven by PPP loans and cautious consumer behavior. Despite decreased earnings, the firm was added to the Russell 2000 Index, enhancing liquidity and shareholder value.