Welcome to our dedicated page for Plumas Bancorp news (Ticker: PLBC), a resource for investors and traders seeking the latest updates and insights on Plumas Bancorp stock.
Plumas Bancorp (NASDAQ: PLBC) is a bank holding company headquartered in Reno, Nevada, with a primary focus on providing a wide array of banking products and services in Northeastern California and Northwestern Nevada. Established in 1980, its community bank subsidiary, Plumas Bank, is well-regarded for its local management and award-winning services.
Plumas Bank offers a comprehensive range of deposit products, including checking accounts, interest-bearing checking, business sweep accounts, public funds sweep accounts, savings accounts, time deposits, and retirement accounts. The bank’s loan portfolio is diverse and includes commercial real estate loans, commercial and industrial loans, consumer loans, agricultural loans, residential real estate loans, and construction and land development loans. Revenue generation for the bank primarily comes from loans and investment securities, with service fees contributing to a lesser extent.
Recent achievements highlight Plumas Bank's strategic initiatives to bolster its financial standing and commitment to the communities it serves. Notably, MountainSeed Real Estate Services acquired nine properties operated as branches from Plumas Bank, entering into a 15-year leaseback agreement that allows the bank to continue its operations as usual. Additionally, a second sale-and-leaseback transaction is planned for completion in March 2024. This transaction is anticipated to enhance the bank's earnings profile, increase its book value, and generate higher yields and interest income streams.
Plumas Bank’s dedication to serving its community is further exemplified by its operational footprint, consisting of 15 branch offices across Northeastern California and Northern Nevada, along with loan production offices in California and Southern Oregon. This extensive network supports the bank's mission to provide personalized and locally-focused banking services.
For more information about Plumas Bancorp and its operations, visit plumasbank.com.
Contact Information:
Jamie Huynh, Investor Relations Plumas Bancorp
5525 Kietzke Lane Ste. 100, Reno, NV 89511
Phone: 775.786.0907 x8908
Email: investorrelations@plumasbank.com
Plumas Bancorp (NASDAQ:PLBC) has been awarded the Raymond James Bankers Cup for the fourth consecutive year, ranking as the 3rd best community bank in the nation for 2020. This accolade highlights the Company’s profitability, operational efficiencies, and balance sheet metrics among banks with assets between $500 million and $10 billion. With a total of 241 banks evaluated, only 25 received this recognition. CEO Andrew J. Ryback emphasized the importance of client-focused service and community engagement in achieving this honor.
Plumas Bancorp (Nasdaq:PLBC) has declared a quarterly cash dividend of $0.14 per share, set for payment on May 17, 2021, to shareholders recorded by May 1, 2021. This decision reflects the company’s ongoing commitment to shareholder returns. Plumas Bank, headquartered in Quincy, California, operates 13 branches across Northern California and Nevada, and offers varied financial services, holding a Preferred Lender status from the SBA. The announcement signifies financial stability amid growth prospects.
Plumas Bancorp (Nasdaq: PLBC) reported record earnings for Q1 2021, achieving $4.4 million or $0.86 per share, a 34% increase from Q1 2020. Total assets rose by 37% to $1.2 billion, with deposits up 40% to $1.1 billion. The bank processed 774 Payroll Protection Program loans totaling $67 million. Despite a slight rise in nonperforming loans, the return on average equity improved to 17.7%. The company is set to acquire Feather River Bancorp, enhancing its market presence and expanding services.
Plumas Bancorp (Nasdaq:PLBC) has relocated its corporate office to Reno, Nevada, reinforcing its dedication to serving Northern Nevada's small to mid-sized businesses. The bank has a significant presence in the region, including a loan production office since 2006 and branches opened in 2015 and 2018. As of December 31, 2020, Plumas Bancorp reported assets of $1.1 billion, deposits of $974 million, and loans of $710 million. The move aims to enhance access to capital for local business owners, demonstrating a commitment to the community and regional growth.
Plumas Bancorp (Nasdaq: PLBC) has entered into a merger agreement to acquire Feather River Bancorp in a combined stock and cash transaction valued at approximately $21 million. Upon completion, the merged entity will have around $1.3 billion in assets and $1.1 billion in deposits, expanding its market footprint across Northeastern California and Western Nevada. Feather River, with its assets of about $182 million, will enhance Plumas' service offerings. The transaction is expected to be accretive to earnings per share by approximately 6.8% in 2021 and 8.1% in 2022.
Plumas Bancorp (Nasdaq:PLBC) has declared a quarterly cash dividend of $0.14 per share, payable on February 15, 2021, to shareholders of record as of February 1, 2021. Founded in 1980, Plumas Bank operates 13 branches in California and Nevada, providing a variety of financial services. The Bank has recently received accolades for its performance, including the Community Bankers Cup from Raymond James for being among the top five performing banks nationally, and being named a 'Super Premier' performing bank for the fifth year in a row.
Plumas Bancorp (Nasdaq:PLBC) reported record earnings of $4.3 million for Q4 2020, marking a 10% increase from the previous year. Earnings per share rose to $0.82.
However, annual net income decreased by 7% to $14.5 million, with EPS dropping to $2.77.
Total assets grew 28% to $1.1 billion, while total loans and deposits increased by 15% and 30%, respectively. The bank strengthened reserves amid COVID-19 challenges.
Plumas Bancorp (Nasdaq:PLBC) announces the retirement of board director William E. Elliott after 33 years of service, effective December 31, 2020, in accordance with the company's age-based retirement policy. Elliott, who joined in 1987, played a vital role in the bank’s growth, having served as president and CEO until 2005. Chairman Daniel E. West and CEO Andrew J. Ryback lauded Elliott's contributions, emphasizing his financial insights and strategic guidance. Plumas Bank has received multiple accolades, including recognition as one of the top-performing banks in the nation.
Plumas Bancorp (Nasdaq:PLBC) has declared a quarterly cash dividend of $0.12 per share, set to be paid on November 16, 2020. Shareholders of record as of November 2, 2020 will receive the dividend. The Bank, recognized for its performance, operates 13 branches across California and Nevada, and offers various financial services. It has received accolades, including the Community Bankers Cup for being the 2nd best performing bank nationally and ranking in the top 2% of U.S. community banks.
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