Plumas Bancorp Reports Earnings for Three Months and Year Ended December 31, 2025
Rhea-AI Summary
Plumas Bancorp (Nasdaq:PLBC) reported fourth-quarter 2025 net income of $10.9 million ($1.58 per share), up from $7.7 million a year earlier, and full-year 2025 net income of $29.6 million ($4.60 per share). Gross loans rose 49% to $1.5 billion and deposits climbed 32% to $1.8 billion, largely from the July 1, 2025 acquisition of Cornerstone Community Bank (assets acquired $658 million; loans $478 million; deposits $580 million). Shareholders' equity increased 47% to $261 million and book value per share reached $37.52. Credit costs and merger-related expenses weighed on results: provision for credit losses totaled $6.8 million and non-recurring merger expenses were $7.3 million for 2025.
Positive
- Q4 net income $10.9M
- Full-year net income $29.6M
- Gross loans +49% to $1.5B
- Deposits +32% to $1.8B
- Shareholders' equity +47% to $261M
- Non-GAAP net income (ex-merger costs) $35.0M
Negative
- Provision for credit losses increased by $5.6M
- Non-recurring merger expenses of $7.3M
- Nonperforming assets rose to $15.3M
- Return on average equity fell to 13.6% for 2025
Market Reaction
Following this news, PLBC has gained 9.61%, reflecting a notable positive market reaction. Our momentum scanner has triggered 3 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $48.81. This price movement has added approximately $30M to the company's valuation. Trading volume is elevated at 2.5x the average, suggesting notable buying interest.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Silver for real-time data.
Key Figures
Market Reality Check
Peers on Argus
PLBC fell 1.83% while peers were mixed: BWFG, USCB, and FMAO were modestly positive, and CZFS and PCB declined. This pattern suggests the move was more company-specific than a broad regional bank trend.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 02 | Credit leadership change | Neutral | -1.7% | Announced new chief credit officer and credit administrator appointments. |
| Oct 16 | Dividend declaration | Positive | -1.6% | Declared regular quarterly cash dividend of $0.30 per share. |
| Oct 15 | Q3 2025 earnings | Negative | +0.1% | Reported lower EPS with higher credit loss provisions post-Cornerstone deal. |
| Oct 10 | Executive retirement | Neutral | -1.1% | Announced retirement of chief credit officer and named internal successor. |
| Aug 29 | Citizenship report | Positive | +0.9% | Released 2025 corporate citizenship report and highlighted growth milestones. |
Recent stock reactions often leaned negative or flat around both routine updates and dividends, with more divergence than alignment between news tone and next‑day price moves.
Over the past six months, Plumas Bancorp has highlighted strategic growth, governance stability, and the Cornerstone acquisition. The August 2025 corporate citizenship report emphasized expansion to $2.3 billion in assets. A Q3 2025 earnings release showed higher net interest income but lower EPS and rising credit costs tied to the acquisition. Leadership transition updates in October 2025 and January 2026 framed continuity in credit oversight. Dividend declarations underscored ongoing capital return. Today’s full‑year and Q4 2025 earnings build directly on those acquisition and balance‑sheet themes.
Market Pulse Summary
The stock is up +9.6% following this news. A strong positive reaction aligns with the headline growth figures in this report. Q4 2025 net income of $10.9 million and EPS of $1.58 rose meaningfully year over year, while gross loans reached $1.5 billion and deposits $1.8 billion, helped by the Cornerstone acquisition. Investors would still need to weigh rising nonperforming assets at $15.3 million and elevated credit loss provisions when assessing how durable any strength might be.
Key Terms
sale-leaseback financial
triple net leases financial
current expected credit losses (cecl) financial
AI-generated analysis. Not financial advice.
RENO, Nev., Jan. 21, 2026 (GLOBE NEWSWIRE) -- Plumas Bancorp (Nasdaq:PLBC), the parent company of Plumas Bank, today announced earnings during the fourth quarter of 2025 of
For the year ended December 31, 2025, the Company reported net income of
Balance Sheet Highlights
December 31, 2025 compared to December 31, 2024
- Gross loans increased by
$497 million , or49% , to$1.5 billion . - Deposits increased by
$439 million , or32% to$1.8 billion . - Shareholder’s equity increased by
$83 million , or47% , to$261 million . - Book value per share increased by
$7.38 , or24% , to$37.52 .
President’s Comments
Andrew J. Ryback, director, president, and chief executive officer of Plumas Bancorp, described 2025 as a pivotal year defined by the integration of Cornerstone Community Bancorp and strategic balance-sheet optimization. Ryback commented, “2025 was a year of purposeful execution and long term positioning for Plumas Bancorp. The Cornerstone Community Bancorp acquisition continues to strengthen our franchise by expanding our presence across Northern California, enhancing scale, and deepening relationships.
“In another strategic move, management leveraged a
“In closing, we were honored this year to celebrate Plumas Bank’s 45th anniversary. On December 15, 2025, our teams marked this milestone across our branch network, reflecting on the values based community banking model that continues to guide us. In Reno, the day was officially proclaimed ‘Plumas Bank Day’ underscoring the regional impact our colleagues make for businesses and families.”
“To our clients, teammates, communities, and shareholders—thank you. With our enhanced footprint following the acquisition of Cornerstone, the momentum of our 45 year legacy, and the strategic actions we took, Plumas is well positioned for 2026 and beyond.”
Acquisition of Cornerstone Community Bank and Cornerstone Community Bancorp
Results for the three and twelve months ended December 31, 2025 include the acquisition of Cornerstone Community Bank (CCB), the wholly owned subsidiary of Cornerstone Community Bancorp (Cornerstone), effective July 1, 2025. Total assets acquired from Cornerstone, excluding purchase adjustments, were
Our financial statements are prepared in conformity with accounting principles generally accepted in the United States (U.S. GAAP). In connection with the acquisition, the Company incurred a variety of non-recurring expenses related to the acquisition (the “Merger”) which are summarized at the end of this report under the heading “Reconciliation of Non-GAAP Disclosure”. The non-recurring expenses for the twelve months ended December 31, 2025 were
In addition, during the second half of 2025, the Company recorded additional expense and income related to the amortization and accretion, respectively related to the amortization/accretion of various Fair Value (FV) marks required under GAAP. The following table presents the effect on pretax earnings of the amortization/accretion of the FV marks recorded during the six months ended December 31, 2025 and the projected effect for the twelve months ended December 31, 2026. Positive numbers would increase pretax income and negative are a decrease in pretax income.
| Actual | Projected | ||||||
| Six Months | Twelve Months | ||||||
| Ending | Ending | ||||||
| Amortization/accretion of Fair Value marks (in thousands) | 12/31/2025 | 12/31/2026 | |||||
| Core Deposit Intangible | $ | (1,127) | $ | (2,082) | |||
| Discount on acquired loans | 1,100 | 1,233 | |||||
| Premium/discount on acquired time deposits | 655 | (92) | |||||
| Discount on acquired debentures | (142) | (23) | |||||
| Total amortization/accretion of Fair Value marks | $ | 486 | $ | (964) | |||
The projected accretion of the discount on acquired loans is based on the acquired loans contractual payment schedules and may differ significantly from the actual accretion during the projected periods.
Loans, Deposits, Investments and Cash
Mostly related to the acquisition of CCB, gross loans increased by
On December 31, 2025, approximately
Related mostly to the acquisition of CCB, total deposits increased by
Total investment securities increased by
Asset Quality
Nonperforming assets (which are comprised of nonperforming loans, other real estate owned (“OREO”) and repossessed vehicle holdings) were
During 2025 we recorded a provision for credit losses of
Net charge-offs totaled
The following tables present the activity in the allowance for credit losses and the reserve for unfunded commitments during the years ended December 31, 2025 and 2024 (in thousands).
| December 31, 2025 | December 31, 2024 | ||||||
| Balance, beginning of period | $ | 13,196 | $ | 12,867 | |||
| CECL Day 1 provision on acquired non-PCD loans | 4,972 | - | |||||
| Additional provision for credit losses | 1,918 | 1,375 | |||||
| Reserve on PCD loans | 315 | - | |||||
| Losses charged to allowance | (1,095) | (2,039) | |||||
| Recoveries | 653 | 993 | |||||
| Balance, end of period | $ | 19,959 | $ | 13,196 | |||
| Reserve for Unfunded Commitments | December 31, 2025 | December 31, 2024 | |||||
| Balance, beginning of period | $ | 620 | $ | 799 | |||
| Provision on acquired loans | 351 | - | |||||
| Recovery of credit losses | (391) | (179) | |||||
| Balance, end of period | $ | 580 | $ | 620 | |||
Borrowing and Repurchase Agreements
Borrowings
Plumas Bancorp had outstanding borrowings of
As a result of and upon the completion of the Merger, the Company assumed Cornerstone’s obligations with respect to an aggregate principal amount of
In addition to these borrowings, CCB had an outstanding borrowing from the FHLB of
Repurchase Agreements
The Bank offers a repurchase agreement product for its larger customers which use securities sold under agreements to repurchase as an alternative to interest-bearing deposits. Securities sold under agreements to repurchase totaling
Shareholders’ Equity
Shareholders’ equity increased by
Liquidity
The Company manages its liquidity to provide the ability to generate funds to support asset growth, meet deposit withdrawals (both anticipated and unanticipated), fund customers' borrowing needs and satisfy maturity of short-term borrowings. The Company’s liquidity needs are managed using assets or liabilities, or both. On the asset side, in addition to cash and due from banks, the Company maintains an investment portfolio which includes unpledged U.S. Government-sponsored agency securities that are classified as available-for-sale. On the liability side, liquidity needs are managed by offering competitive rates on deposit products and the use of established lines of credit.
The Company is a member of the Federal Home Loan Bank of San Francisco (FHLB) and can borrow up to
The Company estimates that it has approximately
Customer deposits are the Company’s primary source of funds. Total deposits increased by
The Company’s securities portfolio, Federal funds sold, FHLB advances, and cash and due from banks serve as the primary sources of liquidity, providing adequate funding for loans during periods of high loan demand. During periods of decreased lending, funds obtained from the maturing or sale of investments, loan payments, and new deposits are invested in short-term earning assets, such as cash held at the Federal Reserve Bank of San Francisco, Federal funds sold and investment securities, to serve as a source of funding for future loan growth. Management believes that the Company’s available sources of funds, including borrowings, will provide adequate liquidity for its operations in the foreseeable future.
Net Interest Income and Net Interest Margin
Three months ended December 31, 2025
Net interest income was
Interest and fees on loans increased by
Interest on investment securities increased by
Interest on cash balances decreased by
Interest expense increased by
Interest paid on deposits increased by
During 2024 Plumas Bank had borrowings under the Bank Term Funding Program (BTFP) which averaged
Net interest margin for the three months ended December 31, 2025, was
Year ended December 31, 2025
Net interest income was
Interest and fees on loans increased by
Interest on investment securities increased by
Interest on cash balances declined by
Related to an increase in interest bearing deposits, an increase in the cost of these deposits and the acquisition of CCB partially offset by a
Interest paid on deposits increased by
Net interest margin for the year ended December 31, 2025, increased 12 basis points to
Non-Interest Income/Expense
Three months ended December 31, 2025
Non-interest income totaled
During the three months ended December 31, 2025, total non-interest expense increased by
Year ended December 31, 2025
During the year ended December 31, 2025, non-interest income totaled
During the year ended December 31, 2025, total non-interest expense increased by
Provision for Income Taxes
During the fourth quarter of 2025 Plumas Bank purchased
Plumas Bancorp is headquartered in Reno, Nevada. Plumas Bancorp’s principal subsidiary is Plumas Bank, which was founded in 1980. Plumas Bank is a full-service community bank headquartered in Quincy, California. The Bank operates nineteen branches: seventeen located in the California counties of Butte, Lassen, Modoc, Nevada, Placer, Plumas, Shasta, Sutter, and Tehama and two branches located in Nevada in the counties of Carson City and Washoe. The bank also operates two loan production offices located in Auburn, California and Klamath Falls, Oregon. Plumas Bank offers a wide range of financial and investment services to consumers and businesses and has received nationwide Preferred Lender status with the United States Small Business Administration. For more information on Plumas Bancorp and Plumas Bank, please visit our website at www.plumasbank.com.
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended and Plumas Bancorp intends for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.
Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. Forward-looking statements involve significant risks and uncertainties, and actual results may differ materially from those presented, either expressed or implied, in this news release. Factors that might cause such differences include, but are not limited to: the Company's ability to successfully execute its business plans and achieve its objectives; changes in general economic and financial market conditions, either nationally or locally in areas in which the Company conducts its operations; changes in interest rates; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Company's operations or business; loss of key personnel; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies.
Contact: Jamie Huynh
Investor Relations
Plumas Bancorp
5525 Kietzke Lane Ste. 100
Reno, NV 89511
775.786.0907 x8908
investorrelations@plumasbank.com
NON-GAAP FINANCIAL MEASURES
In addition to results presented in accordance with generally accepted accounting principles in the United States of America (GAAP), this press release contains certain non-GAAP financial measures. Management has presented these non-GAAP financial measures in this press release because it believes that they provide useful and comparative information to assess trends in the Company's core operations reflected in the current quarter's results and facilitate the comparison of our performance with the performance of our peers. However, these non-GAAP financial measures are supplemental and are not a substitute for any analysis based on GAAP.
| Reconciliation of Non-GAAP Disclosure | |||||||||||||
| (Unaudited. Dollars, except per share data, and shares in thousands) | |||||||||||||
| GAAP | Non-GAAP | GAAP | Non-GAAP | ||||||||||
| For the Three Months Ended | For the Twelve months Ended | ||||||||||||
| 12/31/2025 | 12/31/2025 | 12/31/2025 | 12/31/2025 | ||||||||||
| Income before tax | |||||||||||||
| Exclude merger related items: | |||||||||||||
| Investment banking, legal and other expenses | N/A | 34 | N/A | 1,963 | |||||||||
| CECL Day 1 loan loss allowance on acquired non-PCD loans | N/A | - | N/A | 4,972 | |||||||||
| Unfunded commitment liability related to acquired loans | N/A | - | N/A | 351 | |||||||||
| Total merger related items | N/A | 34 | N/A | 7,286 | |||||||||
| Adjusted income before tax | 13,968 | 14,002 | 39,592 | 46,878 | |||||||||
| Provision for income taxes | 2,998 | 3,007 | 9,975 | 11,849 | |||||||||
| Net Income | |||||||||||||
| Diluted shares outstanding | 7,037 | 7,037 | 6,524 | 6,524 | |||||||||
| Average assets | 2,252,528 | 2,252,528 | 1,946,338 | 1,946,338 | |||||||||
| Diluted earnings per share | |||||||||||||
| Return on average assets | |||||||||||||
| PLUMAS BANCORP | ||||||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||||
| (In thousands) | ||||||||||
| (Unaudited) | ||||||||||
| As of December 31, | ||||||||||
| 2025 | 2024 | Dollar Change | Percentage Change | |||||||
| ASSETS | ||||||||||
| Cash and due from banks | $ | 80,616 | $ | 82,018 | $ | (1,402) | (1.7)% | |||
| Investment securities | 476,595 | 437,735 | 38,860 | |||||||
| Loans, net of allowance for credit losses | 1,495,834 | 1,005,375 | 490,459 | |||||||
| Premises and equipment, net | 24,398 | 12,495 | 11,903 | |||||||
| Right-of-use assets | 28,860 | 24,334 | 4,526 | |||||||
| Bank owned life insurance | 33,659 | 16,519 | 17,140 | |||||||
| Real estate acquired through foreclosure | 226 | 91 | 135 | |||||||
| Core deposit intangible | 11,101 | 791 | 10,310 | |||||||
| Goodwill | 24,215 | 5,502 | 18,713 | |||||||
| Accrued interest receivable and other assets | 63,019 | 38,466 | 24,553 | |||||||
| Total assets | $ | 2,238,523 | $ | 1,623,326 | $ | 615,197 | ||||
| LIABILITIES AND | ||||||||||
| SHAREHOLDERS’ EQUITY | ||||||||||
| Deposits | $ | 1,809,604 | $ | 1,371,101 | $ | 438,503 | ||||
| Repurchase agreements | $ | 97,855 | $ | 22,073 | 75,782 | |||||
| Lease liabilities | 29,029 | 24,759 | 4,270 | |||||||
| Accrued interest payable and other liabilities | 19,946 | 12,493 | 7,453 | |||||||
| Borrowings | 21,013 | 15,000 | 6,013 | |||||||
| Total liabilities | 1,977,447 | 1,445,426 | 532,021 | |||||||
| Common stock | 75,668 | 29,043 | 46,625 | |||||||
| Retained earnings | 195,899 | 174,002 | 21,897 | |||||||
| Accumulated other comprehensive loss, net | (10,491) | (25,145) | 14,654 | |||||||
| Shareholders’ equity | 261,076 | 177,900 | 83,176 | |||||||
| Total liabilities and shareholders’ equity | $ | 2,238,523 | $ | 1,623,326 | $ | 615,197 | ||||
| PLUMAS BANCORP | ||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF INCOME | ||||||||||
| (In thousands, except per share data) | ||||||||||
| (Unaudited) | ||||||||||
| FOR THE YEAR ENDED DECEMBER 31, | 2025 | 2024 | Dollar Change | Percentage Change | ||||||
| Interest income | $ | 101,647 | $ | 84,325 | $ | 17,322 | ||||
| Interest expense | 13,877 | 10,634 | 3,243 | |||||||
| Net interest income before provision for credit losses | 87,770 | 73,691 | 14,079 | |||||||
| Provision for credit losses | 6,850 | 1,196 | 5,654 | |||||||
| Net interest income after provision for credit losses | 80,920 | 72,495 | 8,425 | |||||||
| Non-interest income | 10,526 | 8,780 | 1,746 | |||||||
| Non-interest expense | 51,854 | 42,274 | 9,580 | |||||||
| Income before income taxes | 39,592 | 39,001 | 591 | |||||||
| Provision for income taxes | 9,975 | 10,382 | (407) | (3.9)% | ||||||
| Net income | $ | 29,617 | $ | 28,619 | $ | 998 | ||||
| Basic earnings per share | $ | 4.60 | $ | 4.85 | $ | (0.25) | (5.2)% | |||
| Diluted earnings per share | $ | 4.54 | $ | 4.80 | $ | (0.26) | (5.4)% | |||
| PLUMAS BANCORP | ||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF INCOME | ||||||||||
| (In thousands, except per share data) | ||||||||||
| (Unaudited) | ||||||||||
| FOR THE THREE MONTHS ENDED DECEMBER 31, | 2025 | 2024 | Dollar Change | Percentage Change | ||||||
| Interest income | $ | 30,627 | $ | 21,276 | $ | 9,351 | ||||
| Interest expense | 4,753 | 2,317 | 2,436 | |||||||
| Net interest income before provision for credit losses | 25,874 | 18,959 | 6,915 | |||||||
| Provision for credit losses | 367 | (150) | 517 | |||||||
| Net interest income after provision for credit losses | 25,507 | 19,109 | 6,398 | |||||||
| Non-interest income | 2,704 | 2,201 | 503 | |||||||
| Non-interest expense | 14,243 | 10,657 | 3,586 | |||||||
| Income before income taxes | 13,968 | 10,653 | 3,315 | |||||||
| Provision for income taxes | 2,998 | 2,904 | 94 | |||||||
| Net income | $ | 10,970 | $ | 7,749 | $ | 3,221 | ||||
| Basic earnings per share | $ | 1.58 | $ | 1.31 | $ | 0.27 | ||||
| Diluted earnings per share | $ | 1.56 | $ | 1.29 | $ | 0.27 | ||||
| PLUMAS BANCORP | ||||||||||||||
| SELECTED FINANCIAL INFORMATION | ||||||||||||||
| (Dollars in thousands, except per share data) | ||||||||||||||
| (Unaudited) | ||||||||||||||
| Year Ended | Three Months Ended | |||||||||||||
| 12/31/2025 | 12/31/2024 | 12/31/2023 | 12/31/2025 | 12/31/2024 | ||||||||||
| EARNINGS PER SHARE | ||||||||||||||
| Basic earnings per share | $ | 4.60 | $ | 4.85 | $ | 5.08 | $ | 1.58 | $ | 1.31 | ||||
| Diluted earnings per share | $ | 4.54 | $ | 4.80 | $ | 5.02 | $ | 1.56 | $ | 1.29 | ||||
| Weighted average shares outstanding | 6,440 | 5,895 | 5,863 | 6,956 | 5,900 | |||||||||
| Weighted average diluted shares outstanding | 6,517 | 5,968 | 5,934 | 7,036 | 5,995 | |||||||||
| Cash dividends paid per share1 | $ | 1.20 | $ | 1.08 | $ | 1.00 | $ | 0.30 | $ | 0.27 | ||||
| PERFORMANCE RATIOS (annualized for the three months) | ||||||||||||||
| Return on average assets | ||||||||||||||
| Return on average equity | ||||||||||||||
| Yield on earning assets | ||||||||||||||
| Rate paid on interest-bearing liabilities | ||||||||||||||
| Net interest margin | ||||||||||||||
| Noninterest income to average assets | ||||||||||||||
| Noninterest expense to average assets | ||||||||||||||
| Efficiency ratio2 | ||||||||||||||
| 12/31/2025 | 12/31/2024 | 12/31/2023 | ||||||||||||
| CREDIT QUALITY RATIOS AND DATA | ||||||||||||||
| Allowance for credit losses | $ | 19,959 | $ | 13,196 | $ | 12,867 | ||||||||
| Allowance for credit losses as a percentage of total loans | ||||||||||||||
| Nonperforming loans | $ | 15,089 | $ | 4,105 | $ | 4,820 | ||||||||
| Nonperforming assets | $ | 15,321 | $ | 4,307 | $ | 5,315 | ||||||||
| Nonperforming loans as a percentage of total loans | ||||||||||||||
| Nonperforming assets as a percentage of total assets | ||||||||||||||
| Year-to-date net charge-offs | $ | 442 | $ | 1,046 | $ | 954 | ||||||||
| Year-to-date net charge-offs as a percentage of average loans | ||||||||||||||
| CAPITAL AND OTHER DATA | ||||||||||||||
| Common shares outstanding at end of period | 6,959 | 5,903 | 5,872 | |||||||||||
| Shareholders' equity | $ | 261,076 | $ | 177,900 | $ | 147,317 | ||||||||
| Book value per common share | $ | 37.52 | $ | 30.14 | $ | 25.09 | ||||||||
| Tangible common equity3 | $ | 225,760 | $ | 171,606 | $ | 140,823 | ||||||||
| Tangible book value per common share4 | $ | 32.44 | $ | 29.07 | $ | 23.98 | ||||||||
| Tangible common equity to total assets | ||||||||||||||
| Gross loans to deposits | ||||||||||||||
| PLUMAS BANK REGULATORY CAPITAL RATIOS | ||||||||||||||
| Tier 1 Leverage Ratio | ||||||||||||||
| Common Equity Tier 1 Ratio | ||||||||||||||
| Tier 1 Risk-Based Capital Ratio | ||||||||||||||
| Total Risk-Based Capital Ratio | ||||||||||||||
| (1) The Company paid a quarterly cash dividend of | ||||||||||||||
| (2) Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and total noninterest income). | ||||||||||||||
| (3) Tangible common equity is defined as common equity less goodwill and core deposit intangibles. | ||||||||||||||
| (4) Tangible common book value per share is defined as tangible common equity divided by common shares outstanding. | ||||||||||||||
| PLUMAS BANCORP | |||||||||||||||
| SELECTED FINANCIAL INFORMATION | |||||||||||||||
| (Dollars in thousands) | |||||||||||||||
| (Unaudited) | |||||||||||||||
| The following table presents for the three-month periods indicated the distribution of consolidated average assets, liabilities and shareholders' equity. | |||||||||||||||
| For the Three Months Ended | For the Three Months Ended | ||||||||||||||
| 12/31/2025 | 12/31/2024 | ||||||||||||||
| Average | Yield/ | Average | Yield/ | ||||||||||||
| Balance | Interest | Rate | Balance | Interest | Rate | ||||||||||
| Interest-earning assets: | |||||||||||||||
| Loans (2) (3) | $ | 1,492,565 | $ | 24,231 | $ | 1,010,525 | $ | 15,810 | |||||||
| Investment securities | 398,279 | 4,894 | 371,217 | 3,885 | |||||||||||
| Non-taxable investment securities (1) | 79,401 | 653 | 76,380 | 585 | |||||||||||
| Interest-bearing deposits | 83,777 | 849 | 80,989 | 996 | |||||||||||
| Total interest-earning assets | 2,054,022 | 30,627 | 1,539,111 | 21,276 | |||||||||||
| Cash and due from banks | 35,349 | 27,377 | |||||||||||||
| Other assets | 163,157 | 84,331 | |||||||||||||
| Total assets | $ | 2,252,528 | $ | 1,650,819 | |||||||||||
| Interest-bearing liabilities: | |||||||||||||||
| Money market deposits | 448,019 | 2,162 | 255,180 | 969 | |||||||||||
| Savings deposits | 310,982 | 254 | 314,284 | 173 | |||||||||||
| Time deposits | 211,825 | 1,560 | 98,458 | 699 | |||||||||||
| Total deposits | 970,826 | 3,976 | 667,922 | 1,841 | |||||||||||
| Borrowings | 26,618 | 348 | 39,782 | 466 | |||||||||||
| Other interest-bearing liabilities | 97,635 | 429 | 20,009 | 10 | |||||||||||
| Total interest-bearing liabilities | 1,095,079 | 4,753 | 727,713 | 2,317 | |||||||||||
| Non-interest-bearing deposits | 858,088 | 705,314 | |||||||||||||
| Other liabilities | 46,055 | 37,899 | |||||||||||||
| Shareholders' equity | 253,306 | 179,893 | |||||||||||||
| Total liabilities & equity | $ | 2,252,528 | $ | 1,650,819 | |||||||||||
| Cost of funding interest-earning assets (4) | |||||||||||||||
| Net interest income and margin (5) | $ | 25,874 | $ | 18,959 | |||||||||||
| (1) Not computed on a tax-equivalent basis. | |||||||||||||||
| (2) Average nonaccrual loan balances of | |||||||||||||||
| (3) Net costs included in loan interest income for the three-month periods ended December 31, 2025 and 2024 were | |||||||||||||||
| (4) Total annualized interest expense divided by the average balance of total earning assets. | |||||||||||||||
| (5) Annualized net interest income divided by the average balance of total earning assets. | |||||||||||||||
| PLUMAS BANCORP | |||||||||||||||
| SELECTED FINANCIAL INFORMATION | |||||||||||||||
| (Dollars in thousands) | |||||||||||||||
| (Unaudited) | |||||||||||||||
| The following table presents for the years indicated the distribution of consolidated average assets, liabilities and shareholders' equity. | |||||||||||||||
| For the Year Ended | For the Year Ended | ||||||||||||||
| 12/31/2025 | 12/31/2024 | ||||||||||||||
| Average | Yield/ | Average | Yield/ | ||||||||||||
| Balance | Interest | Rate | Balance | Interest | Rate | ||||||||||
| Interest-earning assets: | |||||||||||||||
| Loans (2) (3) | $ | 1,252,139 | $ | 78,875 | $ | 989,313 | $ | 61,450 | |||||||
| Investment securities | 385,448 | 17,226 | 370,228 | 15,308 | |||||||||||
| Non-taxable investment securities (1) | 76,172 | 2,268 | 84,369 | 2,574 | |||||||||||
| Interest-bearing deposits | 75,123 | 3,278 | 93,122 | 4,993 | |||||||||||
| Total interest-earning assets | 1,788,882 | 101,647 | 1,537,032 | 84,325 | |||||||||||
| Cash and due from banks | 30,883 | 27,077 | |||||||||||||
| Other assets | 126,573 | 85,232 | |||||||||||||
| Total assets | $ | 1,946,338 | $ | 1,649,341 | |||||||||||
| Interest-bearing liabilities: | |||||||||||||||
| Money market deposits | 364,152 | 7,053 | 226,372 | 2,472 | |||||||||||
| Savings deposits | 311,136 | 1,007 | 324,000 | 705 | |||||||||||
| Time deposits | 164,998 | 3,980 | 96,131 | 2,739 | |||||||||||
| Total deposits | 840,286 | 12,040 | 646,503 | 5,916 | |||||||||||
| Borrowings | 22,263 | 1,061 | 97,691 | 4,676 | |||||||||||
| Other interest-bearing liabilities | 52,933 | 776 | 19,119 | 42 | |||||||||||
| Total interest-bearing liabilities | 915,482 | 13,877 | 763,313 | 10,634 | |||||||||||
| Non-interest-bearing deposits | 772,478 | 684,909 | |||||||||||||
| Other liabilities | 41,216 | 34,864 | |||||||||||||
| Shareholders' equity | 217,162 | 166,255 | |||||||||||||
| Total liabilities & equity | $ | 1,946,338 | $ | 1,649,341 | |||||||||||
| Cost of funding interest-earning assets (4) | |||||||||||||||
| Net interest income and margin (5) | $ | 87,770 | $ | 73,691 | |||||||||||
| (1) Not computed on a tax-equivalent basis. | |||||||||||||||
| (2) Average nonaccrual loan balances of | |||||||||||||||
| (3) Net costs included in loan interest income for the years ended December 31, 2025 and 2024 were | |||||||||||||||
| (4) Total annualized interest expense divided by the average balance of total earning assets. | |||||||||||||||
| (5) Annualized net interest income divided by the average balance of total earning assets. | |||||||||||||||
| PLUMAS BANCORP | ||||||||||
| SELECTED FINANCIAL INFORMATION | ||||||||||
| (Dollars in thousands) | ||||||||||
| (Unaudited) | ||||||||||
| The following table presents the components of non-interest income for the three-month periods ended December 31, 2025 and 2024. | ||||||||||
| For the Three Months Ended | ||||||||||
| December 31, | ||||||||||
| 2025 | 2024 | Dollar Change | Percentage Change | |||||||
| Gain on sale of buildings | $ | 5,540 | $ | - | 5,540 | |||||
| Interchange income | 878 | 806 | 72 | |||||||
| Service charges on deposit accounts | 831 | 748 | 83 | |||||||
| Earnings on life insurance policies | 262 | 104 | 158 | |||||||
| FHLB Dividends | 194 | 137 | 57 | |||||||
| Loan servicing fees | 152 | 192 | -40 | (20.8)% | ||||||
| Loss on sale of investment securities | -5,439 | - | (5,439) | (100.0)% | ||||||
| Other | 286 | 214 | 72 | |||||||
| Total non-interest income | $ | 2,704 | $ | 2,201 | $ | 503 | ||||
| The following table presents the components of non-interest expense for the three-month periods ended December 31, 2025 and 2024. | ||||||||||
| For the Three Months Ended | ||||||||||
| December 31, | ||||||||||
| 2025 | 2024 | Dollar Change | Percentage Change | |||||||
| Salaries and employee benefits | $ | 7,170 | $ | 5,614 | $ | 1,556 | ||||
| Occupancy and equipment | 2,617 | 1,979 | 638 | |||||||
| Outside service fees | 1,607 | 1,146 | 461 | |||||||
| Amortization of Core Deposit Intangible | 598 | 48 | 550 | |||||||
| Professional fees | 460 | 294 | 166 | |||||||
| Advertising and shareholder relations | 327 | 324 | 3 | |||||||
| Armored car and courier | 279 | 225 | 54 | |||||||
| Business development | 234 | 174 | 60 | |||||||
| Deposit insurance | 221 | 188 | 33 | |||||||
| Director compensation and expense | 190 | 159 | 31 | |||||||
| Telephone and data communication | 140 | 166 | -26 | (15.7)% | ||||||
| Loan collection expenses | 109 | 65 | 44 | |||||||
| Other | 291 | 275 | 16 | |||||||
| Total non-interest expense | $ | 14,243 | $ | 10,657 | $ | 3,586 | ||||
| PLUMAS BANCORP | ||||||||||
| SELECTED FINANCIAL INFORMATION | ||||||||||
| (Dollars in thousands) | ||||||||||
| (Unaudited) | ||||||||||
| The following table presents the components of non-interest income for the years ended December 31, 2025 and 2024. | ||||||||||
| For the Year Ended | ||||||||||
| December 31, | ||||||||||
| 2025 | 2024 | Dollar Change | Percentage Change | |||||||
| Gain on sale of buildings | $ | 5,540 | $ | 19,854 | (14,314) | (72.1)% | ||||
| Interchange income | 3,263 | 3,130 | 133 | |||||||
| Service charges on deposit accounts | 3,133 | 2,988 | 145 | |||||||
| Loan servicing fees | 641 | 756 | (115) | (15.2)% | ||||||
| FHLB Dividends | 658 | 546 | 112 | |||||||
| Earnings on life insurance policies | 741 | 409 | 332 | |||||||
| Loss on sale of investment securities | (5,811) | (19,817) | 14,006 | (70.7)% | ||||||
| Other | 2,361 | 914 | 1,447 | |||||||
| Total non-interest income | $ | 10,526 | $ | 8,780 | $ | 1,746 | ||||
| The following table presents the components of non-interest expense for the years ended December 31, 2025 and 2024. | ||||||||||
| For the Year Ended | ||||||||||
| December 31, | ||||||||||
| 2025 | 2024 | Dollar Change | Percentage Change | |||||||
| Salaries and employee benefits | $ | 26,020 | $ | 21,744 | $ | 4,276 | ||||
| Occupancy and equipment | 9,152 | 7,606 | 1,546 | |||||||
| Outside service fees | 5,615 | 4,576 | 1,039 | |||||||
| Merger and acquisition expenses | 1,963 | - | 1,963 | |||||||
| Amortization of Core Deposit Intangible | 1,300 | 201 | 1,099 | |||||||
| Professional fees | 1,220 | 1,407 | (187) | (13.3)% | ||||||
| Advertising and shareholder relations | 1,145 | 1,030 | 115 | |||||||
| Armored car and courier | 1,004 | 876 | 128 | |||||||
| Deposit insurance | 871 | 750 | 121 | |||||||
| Business development | 831 | 680 | 151 | |||||||
| Director compensation and expense | 706 | 728 | (22) | (3.0)% | ||||||
| Telephone and data communication | 592 | 780 | (188) | (24.1)% | ||||||
| Loan collection expenses | 340 | 388 | (48) | (12.4)% | ||||||
| Other | 1,095 | 1,508 | (413) | (27.4)% | ||||||
| Total non-interest expense | $ | 51,854 | $ | 42,274 | $ | 9,580 | ||||
| PLUMAS BANCORP | |||||||||
| SELECTED FINANCIAL INFORMATION | |||||||||
| (Dollars in thousands) | |||||||||
| (Unaudited) | |||||||||
| The following table shows the distribution of loans by type at December 31, 2025 and 2024. | |||||||||
| Percent of | Percent of | ||||||||
| Loans in Each | Loans in Each | ||||||||
| Balance at End | Category to | Balance at End | Category to | ||||||
| of Period | Total Loans | of Period | Total Loans | ||||||
| 12/31/2025 | 12/31/2025 | 12/31/2024 | 12/31/2024 | ||||||
| Commercial | $ | 167,851 | $ | 77,444 | |||||
| Agricultural | 157,526 | 118,866 | |||||||
| Real estate – residential | 33,116 | 11,539 | |||||||
| Real estate – commercial | 1,002,627 | 646,378 | |||||||
| Real estate – construction & land | 40,168 | 53,503 | |||||||
| Equity Lines of Credit | 53,647 | 37,888 | |||||||
| Auto | 39,595 | 64,734 | |||||||
| Other | 17,526 | 5,072 | |||||||
| Total Gross Loans | $ | 1,512,056 | $ | 1,015,424 | |||||
| The following table shows the distribution of Commercial Real Estate loans at December 31, 2025 and 2024. | |||||||||
| Percent of | Percent of | ||||||||
| Loans in Each | Loans in Each | ||||||||
| Balance at End | Category to | Balance at End | Category to | ||||||
| of Period | Total Loans | of Period | Total Loans | ||||||
| 12/31/2025 | 12/31/2025 | 12/31/2024 | 12/31/2024 | ||||||
| Owner occupied | $ | 426,633 | $ | 278,848 | |||||
| Investor | 575,994 | 367,530 | |||||||
| Total real estate - commercial | $ | 1,002,627 | $ | 646,378 | |||||
| Percent of | Percent of | ||||||||
| Deposits in Each | Deposits in Each | ||||||||
| Balance at End | Category to | Balance at End | Category to | ||||||
| of Period | Total Deposits | of Period | Total Deposits | ||||||
| 12/31/2025 | 12/31/2025 | 12/31/2024 | 12/31/2024 | ||||||
| Non-interest bearing | $ | 848,986 | $ | 699,401 | |||||
| Money Market | 440,552 | 267,582 | |||||||
| Savings | 309,337 | 309,929 | |||||||
| Time | 210,729 | 94,189 | |||||||
| Total Deposits | $ | 1,809,604 | $ | 1,371,101 | |||||
FAQ
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