Plumas Bancorp - PLBC STOCK NEWS

Plumas Bancorp (Nasdaq: PLBC) reported record earnings for the first quarter of 2023, with a net income of $7.6 million or $1.30 per share, a significant increase from $5.7 million or $0.98 per share in Q1 2022. Diluted earnings per share rose to $1.28 from $0.97. Net interest income increased 43% to $17.1 million, and gross loans rose 9% to $916 million. Total deposits decreased by $61 million to $1.4 billion. Despite a decline in deposits, the bank's capital position remains strong with a return on average assets of 1.93% and return on average equity at 25.0%. The company is planning to open a new branch in Chico, California, enhancing its regional presence.

Plumas Bancorp (Nasdaq:PLBC) has announced a quarterly cash dividend of $0.25 per share, payable on February 15, 2023, to stockholders of record as of February 1, 2023. This announcement reflects the company’s commitment to return income to its shareholders. Plumas Bancorp operates as a community bank providing a variety of financial services through its 14 branches across California and two in Nevada. Founded in 1980, Plumas Bank has earned a preferred lender status with the United States Small Business Administration, enhancing its service credibility.

Plumas Bancorp (Nasdaq: PLBC) reported record earnings for 2022, posting a net income of $26.4 million or $4.53 per share, a 26% increase from $21.0 million or $3.82 per share in 2021. The fourth quarter net income reached $7.8 million, marking a 42% increase year-over-year. Gross loans increased by 9% to $912 million, while total deposits rose by 1% to $1.5 billion. Non-performing assets fell sharply by 78% to $1.2 million. The company anticipates potential economic challenges in 2023, but remains focused on expanding its operations, including a new branch in Chico, California.

Plumas Bancorp (Nasdaq:PLBC) announced the retirement of board director Gerald W. Fletcher, effective December 31, 2022, as mandated by the company's age-based retirement policy. Fletcher served on the board for 34 years, originally joining when Sierra Security Bank merged with Plumas Bank in 1988. His contributions and leadership were acknowledged by Chairman Daniel E. West and CEO Andrew J. Ryback, who praised his agricultural expertise and community ties. Fletcher expressed pride in his tenure, stating the company is well-positioned for future growth.

Plumas Bancorp (Nasdaq:PLBC) has declared a quarterly cash dividend of $0.16 per share, which will be payable on November 15, 2022, to shareholders of record as of November 1, 2022. This announcement reflects the company's commitment to returning value to its shareholders.

Headquartered in Reno, Nevada, Plumas Bancorp operates the Plumas Bank and serves a diverse client base through its branches in California and Nevada, offering a range of financial services.

Plumas Bancorp (Nasdaq:PLBC) reported record earnings for Q3 2022, totaling $7.2 million or $1.24 per share, up from $6.6 million or $1.13 per share in Q3 2021. For the first nine months of 2022, net income reached $18.6 million, a $3.1 million increase year-over-year. The bank's total assets rose to $1.7 billion, with gross loans increasing by $19 million. Notably, non-performing assets dropped by 66% to $1.9 million. The CEO emphasized resilience amid potential economic downturns, and the bank received multiple industry accolades for performance.

Plumas Bancorp (Nasdaq:PLBC) has declared a quarterly cash dividend of $0.16 per share, set to be paid on August 15, 2022. The dividend will benefit stockholders of record as of August 1, 2022. The bank operates 14 branches across California and Nevada and provides various financial services, having achieved Preferred Lender status with the United States Small Business Administration.

Plumas Bancorp (Nasdaq:PLBC) reported a record net income of $5.7 million, or $0.97 per share, for Q2 2022, compared to $4.5 million or $0.86 per share in Q2 2021. Total assets rose by 28% to $1.6 billion, bolstered by a $137 million increase in gross loans. Nonperforming assets decreased to $2.0 million, while total deposits grew by $341 million to $1.5 billion. Despite a dip in return on average assets to 1.40%, return on average equity improved to 19.0%. The bank’s performance benefited from improved rates following Federal Reserve increases and the acquisition of Bank of Feather River.

Plumas Bancorp (NASDAQ: PLBC) has received multiple recognitions for its strong financial performance, including D.A. Davidson's Bison Select Report for the fourth consecutive year and Raymond James Bankers Cup for the fifth year. It was also awarded the Super Premier Performing Bank status by The Findley Reports for seven years in a row and included in the 2022 KBW Bank Honor Roll, signifying consistent annual earnings growth. These honors reflect Plumas Bancorp's commitment to community banking excellence and shareholder value amid challenges like the pandemic and wildfires.