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Plumas Bancorp reported stronger first-quarter 2026 results, with higher earnings and stable asset quality. Net income rose to $9.8 million from $7.2 million a year earlier, and diluted earnings per share increased to $1.38 from $1.20, reflecting growth in its expanded franchise following the Cornerstone acquisition.
Total assets were $2.20 billion at March 31, 2026, slightly below $2.24 billion at year-end 2025 as deposits and borrowings declined. Loans, net of allowances, were $1.49 billion, broadly flat, while total deposits were $1.77 billion. The allowance for credit losses was $19.3 million and the company recorded a small net recovery of credit losses, indicating generally sound credit performance despite some collateral-dependent write-downs.
Shareholders’ equity increased to $265.4 million from $261.1 million, driven by retained earnings, partly offset by a larger accumulated other comprehensive loss of $13.1 million tied to unrealized losses on available-for-sale securities as interest rates moved. The Cornerstone deal, completed in 2025 with approximately $61.3 million of consideration and $18.7 million of goodwill, continues to shape the company’s balance sheet and branch footprint.
Plumas Bancorp executive Matthew Brock Moseley, EVP and Market President, exercised stock options to acquire 483 shares of common stock at $31.09 per share. Following the transaction, he holds 9,266 common shares directly, plus 310 shares indirectly through a 401k and 27 shares through his daughter's holdings. An option position to buy 12,718 shares of common stock remains outstanding after this exercise.
Plumas Bancorp executive Aaron M. Boigon, EVP and Chief Information Officer, exercised stock options to acquire 2,500 shares of common stock at $21.45 per share. This was a derivative exercise, not an open-market purchase or sale.
Following the transaction, he directly owns 8,100 shares of Plumas Bancorp common stock. The exercised options came from an award that vests in four equal annual installments beginning October 21, 2020, and the remaining options from this grant are scheduled to expire on October 21, 2027.
Plumas Bancorp submitted an initial insider report identifying Cassinelli Kelsey Coleman as a Principal Accounting Officer. This Form 3 establishes her status as a reporting person for the company’s equity securities. The data provided shows no reportable transactions or derivative positions at this time.
Plumas Bancorp appointed Kelsey Cassinelli as its Principal Accounting Officer, effective April 27, 2026. She succeeds Richard L. Belstock in that role, while he continues as the Company’s Executive Vice President, Chief Financial Officer and Principal Financial Officer.
Ms. Cassinelli, age 32, joins Plumas Bancorp from KPMG US LLP, where she had been employed since 2016 and most recently served as a Senior Audit Manager since April 2024. The company states that she has no family relationships with its directors or executive officers and no related party transactions requiring disclosure.
Plumas Bancorp reported that its Board of Directors declared a quarterly cash dividend of $0.33 per common share. The dividend will be paid on May 15, 2026 to shareholders who are on record as of the close of business on May 1, 2026.
Plumas Bancorp furnished an investor slide presentation as Exhibit 99.1 in a Regulation FD disclosure. The company states this material is for future investor presentations and is not deemed “filed” under the Exchange Act or incorporated into other securities filings unless specifically referenced.
The information in the presentation is stated as of April 15, 2026, and Plumas Bancorp does not assume any obligation to update it. The company highlights that the slides contain forward-looking statements covered by safe harbor provisions, and actual results may differ materially due to risk factors described in its other documents.
Plumas Bancorp reported record first quarter 2026 results, with net income of $9.8 million and basic earnings per share of $1.40, up from $7.2 million and $1.21 a year earlier.
Net interest income rose to $25.1 million from $18.5 million, supported by the Cornerstone acquisition, 49% loan growth to $1.50 billion, 29% deposit growth to $1.77 billion, and a higher net interest margin of 5.03%.
Credit quality metrics weakened as nonperforming loans increased to $14.2 million or 0.94% of total loans, driven largely by one agricultural relationship. Non-interest expense climbed to $15.3 million, including a $726 thousand loss from two fraudulent wire transfers and higher costs tied to Cornerstone. Capital remained strong, with shareholders’ equity of $265 million and a Common Equity Tier 1 ratio of 15.5%, while the company repurchased 41 thousand shares under a stock buyback program of up to $25 million.
Plumas Bancorp is soliciting proxies for its 2026 annual meeting while highlighting a transformative 2025. The bank completed its acquisition of Cornerstone Community Bancorp on July 1, 2025, creating a combined company with over $2.2 billion in assets, $1.8 billion in deposits, and $1.5 billion in loans.
Shareholders of record as of March 24, 2026, owning part of 6,974,673 outstanding shares, are invited to vote on three items: election of ten directors, an advisory “say‑on‑pay” vote on executive compensation, and ratification of Elliott Davis as independent auditor for 2026.
The proxy details strong credit quality, active board‑level risk oversight, and a pay program that ties executive incentives to return on assets, strategic goals, and long‑term equity. In 2025, CEO total compensation was $952,413, and the company reported net income of $29.6 million.
Plumas Bancorp director Richard Francis Kenny exercised stock options to acquire 2,000 shares of common stock at an exercise price of $21.45 per share. The acquired shares are held indirectly through the Richard and Kate Kenny Family Trust, which now holds 13,268 shares following the transaction.
The derivative position tied to these options was reduced, leaving 217 option shares outstanding after the exercise. The options were originally structured to vest in four equal annual installments beginning on October 21, 2020, indicating this transaction follows the grant’s long-term vesting schedule.