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0001168455
0001168455
2026-10-22
2026-10-22
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 22, 2026
PLUMAS BANCORP
(Exact name of registrant as specified in its charter)
California | | 000-49883 | | 75-2987096 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
| | | | |
5525 Kietzke Lane, Suite 100 Reno, NV | | 89511 |
(Address of principal executive offices) | | (Zip Code) |
775-786-0907
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Common Stock | PLBC | NASDAQ Capital Market |
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 22, 2026, Plumas Bancorp (the "Company") announced that Richard Belstock, Executive Vice President and Chief Financial Officer of the Company and Plumas Bank (the "Bank"), will retire from the position of Chief Financial Officer effective January 1, 2027.
Effective January 1, 2027, Richard Belstock will continue his employment with the Company and the Bank as Special Assistant to the President. In connection with this transition, Mr. Belstock's work schedule will be reduced to approximately 50% of his current schedule, and his annual base salary will be reduced by approximately 50% from his current annual base salary. Mr. Belstock will continue to provide advisory and transition support to the President and executive management team. Other employee benefits will continue in accordance with the Company's applicable benefit plans and policies.
Also on October 22, 2026, the Board of Directors appointed Kelsey Cassinelli to serve as Executive Vice President, Chief Financial Officer and Principal Financial Officer of the Company and the Bank effective January 1, 2027. Ms. Cassinelli currently serves as Senior Vice President and Principal Accounting Officer of the Company and the Bank and has responsibilities relating to the Company's accounting and financial reporting functions. Prior to her employment with the Company beginning in April 2026, Ms. Cassinelli, age 32, previously was employed at KPMG US LLP from 2016 to 2026 servicing as a Senior Audit Manager since April 2024.
There are no arrangements or understandings between Ms. Cassinelli and any other person pursuant to which she was selected as Chief Financial Officer. Ms. Cassinelli has no family relationship with any director or executive officer of the Company, and she is not a party to any transaction requiring disclosure pursuant to Item 404(a) of Regulation S-K.
Effective January 1, 2027, Ms. Cassinelli’s annual base salary will be $300,000. Ms. Cassinelli will also be eligible to participate in the Company’s annual incentive compensation program and equity compensation plans on substantially the same basis as the Company’s other executive officers.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. | Description |
99.1 | Press Release dated October 22, 2026 |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | Plumas Bancorp (Registrant) |
| | | |
October 22, 2026 | | By: | /s/ Richard L. Belstock |
| | | |
| | | Name: Richard L. Belstock |
| | | Title: Chief Financial Officer |
Exhibit 99.1
PLUMAS BANCORP
PRESS RELEASE
Plumas Bancorp Announces Chief Financial Officer Transition
Richard Belstock to continue with Plumas Bank as Special Assistant to the President
QUINCY, California, October 22, 2026 - Plumas Bancorp (Nasdaq: PLBC), the holding company for Plumas Bank, announced today that Richard Belstock will retire from his position as Executive Vice President and Chief Financial Officer of Plumas Bancorp and Plumas Bank effective January 1, 2027. The Board of Directors has appointed Kelsey Cassinelli, currently Senior Vice President and Principal Accounting Officer, to succeed Mr. Belstock as Executive Vice President, Chief Financial Officer and Principal Financial Officer effective the same date.
Following his retirement as Chief Financial Officer, Mr. Belstock will continue with Plumas Bank as Special Assistant to the President. In this role, he will support the President and the Bank's executive management team during the leadership transition and on other matters as requested. Mr. Belstock has served as Executive Vice President and Chief Financial Officer of Plumas Bancorp and Plumas Bank since 2011.
"Rick has provided dedicated financial leadership to Plumas Bancorp and Plumas Bank, and we appreciate his many contributions to the organization," said Andy Ryback, President and Chief Executive Officer. "We are also pleased that Rick has agreed to remain with the Bank in a continuing role and provide support during this transition."
Ms. Cassinelli currently serves as Senior Vice President and Principal Accounting Officer of Plumas Bancorp and Plumas Bank. She is a member of the Company's finance leadership team and has responsibilities relating to accounting and financial reporting. Prior to joining Plumas Bancorp and Plumas Bank in April, 2026, she held various positions at KPMG LLP since 2016, most recently serving as a senior manager specializing in financial reporting, audit leadership and complex regulatory matters.
Mr. Ryback continued, "Kelsey has demonstrated strong accounting and financial reporting expertise and a thorough understanding of our organization. The Board and management team are confident in her ability to assume the Chief Financial Officer role and help lead the Company forward."
About Plumas Bancorp
Plumas Bancorp is the bank holding company for Plumas Bank, a full-service community bank serving customers in Northern California and Northern Nevada.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements regarding the Company's leadership transition and future operations. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied.
Plumas Bancorp (the “Company”) 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 include statements regarding management’s expectations concerning future events, such the performance of the Company and its management any other statements other than statements of historical facts. Forward-looking statements 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; changes in the Company’s capital needs; new litigation or changes in existing litigation; 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. For a discussion of these risks and other factors, please see the sections titled “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q, and in other documents the Company files with the Securities and Exchange Commission from time to time.
The Company undertakes no obligation to update any forward-looking statement except as required by law.
Contact
Plumas Bancorp
Investor Relations
(530) 283-7305
