Julie Morehead Appointed to Plumas Bancorp and Plumas Bank Board of Directors
Plumas Bancorp (Nasdaq: PLBC) has appointed Julie Morehead to its Board of Directors, effective July 1, 2021. Morehead, a Yuba City resident with over 40 years of banking experience, previously served as President and CEO of the Bank of Feather River, recently acquired by Plumas Bank. Her extensive background in risk management and community involvement is expected to enhance the board's strategic direction. CEO Andrew J. Ryback expressed confidence in her ability to contribute to the bank's growth and community service commitment.
- Julie Morehead's appointment brings over 40 years of banking experience, enhancing board expertise.
- Morehead's community involvement is expected to strengthen Plumas Bank's local presence and client service.
- Integration of Bank of Feather River may present challenges that could affect operational efficiency.
- Potential difficulties in achieving expected synergies and retaining personnel and customers post-acquisition.
RENO, Nev., July 01, 2021 (GLOBE NEWSWIRE) -- The directors of Plumas Bancorp (Nasdaq: PLBC), a bank holding company and the parent company of Plumas Bank, appointed Julie Morehead to the Plumas Bancorp and Plumas Bank Board of Directors. A lifetime and third generation Yuba City resident, Morehead is the former President, Chief Executive Officer and Director of Bank of Feather River which was acquired by Plumas Bank on July 1, 2021.
Morehead began her banking career over 40 years ago and has extensive experience in all aspects of banking including risk management, corporate governance, asset/liability management, business development, loan administration, finance, operations, and shareholder relations. She was previously a bank Chief Financial Officer and is a graduate of the University of Phoenix and the Texas Graduate School of Community Bank Management. Morehead is active in a wide array of community activities and organizations and was awarded the 2011 Yuba-Sutter Chamber of Commerce Athena Award recognizing leadership among women.
Director, President and Chief Executive Officer of Plumas Bancorp and Plumas Bank, Andrew J. Ryback, remarked, “We are very pleased to welcome Julie to the board. Her leadership experience, both at the corporate level and in various board roles, will add depth and insight to the board as we advance strategies to benefit our clients, team members, communities, and shareholders. Additionally, Julie’s energy and passion for the Yuba-Sutter market and her extensive involvement in the community will help us grow and prosper in this region for years to come.”
Morehead commented, “I am honored to join the Plumas Bancorp Board and I look forward to helping build upon its history of success. Plumas Bank’s core values are aligned with those of Bank of Feather River, and I am confident that Plumas Bank’s commitment to community will result in expanded services for the area. I look forward to supporting the bank’s work in providing state-of-the-art financial solutions to small businesses, entrepreneurs and families in the Yuba-Sutter area and beyond.”
Founded in 1980, Plumas Bank is a locally owned and managed full-service community bank headquartered in northeastern California. Its parent company, Plumas Bancorp, is located in Reno, Nevada. As of July 1, 2021, the bank operates fourteen branches: twelve located in the northern California counties of Lassen, Modoc, Nevada, Placer, Plumas, Shasta and Sutter and two branches located in the northern Nevada counties of Washoe and Carson City. The bank also operates two loan production offices in the northern California Counties of Placer and Butte. 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, visit www.plumasbank.com.
Forward-Looking Statements
This press release contains certain forward-looking information about Plumas Bancorp and Plumas Bank that are intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. Such statements involve inherent risks, uncertainties and contingencies, many of which are difficult to predict and are generally beyond the control of Plumas Bancorp and Plumas Bank. Readers are cautioned that a number of important factors could cause actual results to differ materially from those expressed in, or implied or projected by, such forward-looking statements. In addition to factors previously disclosed in reports filed by Plumas Bancorp with the SEC, these risks and uncertainties include, but are not limited to the risks that Plumas Bancorp may not timely and successfully integrate Bank of Feather River; Plumas Bancorp may not achieve expected beneficial synergies within expected time-frames or at all; and personnel and customer retention may not be as successful as expected. All forward-looking statements included in this press release are based on information available at the time of the communication. Plumas Bancorp is under no obligation to (and expressly disclaim any obligation to) update or alter any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.
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FAQ
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