Plumas Bancorp - PLBC STOCK NEWS

Plumas Bancorp reported Q3 2024 earnings of $7.8 million or $1.33 per share, a slight decrease from $8.0 million or $1.36 per share in Q3 2023. The annualized return on average assets was 1.84%, down from 2.00% in Q3 2023. Key highlights include:

- Gross loans increased by 5% to $1.0 billion
- Total equity increased by 52% to $182 million
- Book value per share increased by 51% to $30.85
- Total deposits decreased by $51 million to $1.35 billion
- Net interest income increased by $1.1 million to $18.9 million
- Non-interest expense increased by $1.4 million to $10.8 million

The company's net interest margin for Q3 2024 was 4.76%, down slightly from 4.77% in Q3 2023. Plumas Bancorp maintains a strong liquidity position with approximately $456 million in uninsured deposits.

Plumas Bank, a subsidiary of Plumas Bancorp (PLBC), has received multiple prestigious awards in 2024, recognizing its outstanding performance in serving clients, investors, and communities in northeastern California and northern Nevada. The bank ranked 8th on American Banker's Top 100 community banks under $2 billion in assets, was named to the KBW Bank Honor Roll, and placed among the top 25 banks in its category by the ICBA. Additionally, Plumas Bank ranked #5 in the CB Top Ten™ report for Q1 2024, received the Raymond James Bankers Cup for the seventh consecutive year, and earned the 'Super Premier' rating from The Findley Reports for the sixth year running.

These accolades highlight Plumas Bank's ability to maintain strong performance and stable returns for investors, even during economic fluctuations. The bank's proactive management of earnings, expenses, and margins in a challenging environment has contributed to its continued success.

Plumas Bank, a subsidiary of Plumas Bancorp (NASDAQ: PLBC), has released its 2024 Corporate Citizenship Report. The report highlights the bank's commitment to best industry practices and community investment. Key focus areas include governance measures, client support, employee development, and community involvement.

Notable achievements include:

• Early adoption of FedNow technology
• Increased employee volunteer hours to 629 in 2023
• Implementation of a leadership training program
• Commitment to living wages and employee incentives
• Environmental initiatives, including solar panel systems at multiple branches

The report underscores Plumas Bank's dedication to community-focused banking and its role in supporting regional economic growth.

Plumas Bancorp (Nasdaq:PLBC), the parent company of Plumas Bank, has declared a regular quarterly cash dividend of $0.27 per share on its common stock. The dividend is payable on August 15, 2024, to stockholders of record as of August 1, 2024. Plumas Bank, a subsidiary of Plumas Bancorp, is a locally managed community bank founded in 1980 and headquartered in Quincy, California. With 15 branch offices in Northeastern California and Northern Nevada, and loan production offices in California and southern Oregon, Plumas Bank is recognized as one of the top performing community banks in the country.

Plumas Bancorp (Nasdaq:PLBC) reported solid financial performance for the second quarter of 2024. The company achieved earnings of $6.8 million or $1.15 per share, slightly up from $6.7 million or $1.14 per share in Q2 2023. However, H1 2024 net income declined to $13.0 million or $2.21 per share from $14.3 million or $2.44 per share in H1 2023.

Balance sheet highlights include:

• Cash and due from banks increased by $18 million to $110 million.
• Gross loans rose by $62 million to $997 million.
• Total equity surged by 28% to $165 million.
• Book value per share climbed by $6.09 to $28.01.

Key metrics saw mixed results. Return on average assets dropped slightly to 1.67%, and return on average equity decreased to 17.1%. The company’s non-performing assets slightly improved, with non-performing loans dropping to $9.0 million from $9.5 million in Q2 2023.

CEO Andrew J. Ryback emphasized stable deposits, continued loan growth, and strategic shifts in their SBA loan portfolio. The inclusion in the Russell 2000 and several industry awards were also highlighted.

A sale-leaseback transaction added $19.9M in gains but led to $19.8M in investment security losses. The company restructured its investment portfolio, resulting in a higher average yield.

Plumas Bancorp (NASDAQ: PLBC) has been re-included in the US small-cap Russell 2000® Index as of July 1, 2024, following the annual reconstitution of the Russell indexes. This inclusion, lasting for one year, is based on its membership in the broader Russell 3000 Index and includes automatic placement in relevant growth and value indexes. Andrew J. Ryback, CEO of Plumas Bancorp, highlighted that inclusion in the Russell 2000 enhances stock liquidity due to passive investment trends. The Russell indexes, managed by FTSE Russell, are key benchmarks for $10.5 trillion in assets. FTSE Russell's CEO, Fiona Bassett, emphasized that the indexes evolve to accurately reflect market segments. Plumas Bank, a subsidiary of Plumas Bancorp, operates 15 branches and several loan offices in California, Nevada, and Oregon. For more information, visit the FTSE Russell and Plumas Bank websites.

Plumas Bancorp, the parent company of Plumas Bank, declared a regular quarterly cash dividend of $0.27 per share, payable on May 15, 2024. The dividend is for stockholders of record as of May 1, 2024.

Plumas Bancorp reported first-quarter earnings of $6.3 million or $1.06 per share, down from $7.6 million or $1.30 per share in the first quarter of 2023. Gross loans increased by $60 million, total assets increased by $62 million, and total equity increased by $32.7 million. President Andrew J. Ryback highlighted the successful completion of a branch sale-leaseback transaction valued at $25.7 million. The company experienced losses in its investment portfolio but offset them with gains from the transaction. Non-performing loans are expected to be resolved soon. Plumas Bank remains well-positioned to navigate market challenges and opportunities.

Plumas Bancorp (PLBC) and MountainSeed announce a $25.7 million sale-leaseback deal for nine properties, with plans for three more. The transaction aims to enhance Plumas Bank's earnings profile, book value, and community service.