Plumas Bancorp Reports Record First Quarter Results
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.
- Net income increased by $1.9 million, or 33%, to $7.6 million.
- Net interest income rose by $5.1 million, or 43%, to $17.1 million.
- Gross loans increased by $77 million, or 9%, to $916 million.
- Return on average assets improved to 1.93%, up from 1.42% in Q1 2022.
- Return on average equity increased to 25.0%, up from 17.6% in Q1 2022.
- Planned opening of a new branch in Chico to strengthen service area.
- Total deposits decreased by $61 million to $1.4 billion.
- Decrease in commercial loans due to a drop in PPP loans from $18.7 million to $283,000.
RENO, Nev., April 19, 2023 (GLOBE NEWSWIRE) -- Plumas Bancorp (Nasdaq: PLBC), the parent company of Plumas Bank, today announced record first quarter earnings of
Financial Highlights
March 31, 2023 compared to March 31, 2022
- Net income increased by
$1.9 million , or33% to$7.6 million . - Net interest income increased by
$5.1 million or43% to$17.1 million . - Gross loans increased by
$77 million , or9% , to$916 million . - Investment securities increased by
$168 million to$484 million . - Total equity increased by
$5.7 million , or5% to$129 million .
President’s Comments
Andrew J. Ryback, director, president and chief executive officer of Plumas Bancorp and Plumas Bank stated, “We are pleased to announce the upcoming opening of our new Chico branch, which complements our footprint in the northern central valley extending from our Yuba City branch in the south to our Redding branch in the north. The Chico branch has been sustainably remodeled with solar panels, LED lighting, xeriscaping, and utilizing recycled materials wherever possible.”
“In light of the recent stresses in the financial sector, we want to provide assurance that Plumas Bank’s financial health remains strong. Our deposits, loans, and investments portfolios are all well diversified; we have low-cost core deposits; we carefully monitor criticized assets; we have no investments designated as held-to-maturity; we have higher asset yields with shorter durations compared to peers; and our Bank’s capital position is strong and continues to grow. Finally, if the need should arise, the Bank has access to additional liquidity through several borrowing lines as detailed in the Liquidity section of this release.”
“Plumas remains strong and nimble, ready to respond to the needs of our clients in this shifting economic landscape. We remain Here. For Good.,” assured Ryback.
Loans, Deposits, Investments and Cash
Gross loans increased by
On March 31, 2023, approximately
Total deposits decreased by
Total investment securities increased by
Asset Quality and CECL
Nonperforming assets (which are comprised of nonperforming loans, other real estate owned (“OREO”) and repossessed vehicle holdings) at March 31, 2023 were
Upon adoption of CECL we recorded an increase in the allowance for credit losses of
Net charge-offs totaled
The following tables present the activity in the allowance for credit losses and the reserve for unfunded commitments during the three months ended March 31, 2023 and 2022 (in thousands).
Allowance for Credit Losses | March 31, 2023 | March 31, 2022 | |||||
Balance, beginning of period | $ | 10,717 | $ | 10,352 | |||
Impact of CECL adoption | 529 | - | |||||
Provision charged to operations | 1,250 | 300 | |||||
Losses charged to allowance | (308 | ) | (373 | ) | |||
Recoveries | 142 | 123 | |||||
Balance, end of period | $ | 12,330 | $ | 10,402 |
Reserve for Unfunded Commitments | March 31, 2023 | March 31, 2022 | |||||
Balance, beginning of period | $ | 341 | $ | 341 | |||
Impact of CECL adoption | 258 | - | |||||
Provision charged to operations | 275 | - | |||||
Balance, end of period | $ | 874 | $ | 341 |
Shareholders’ Equity
Total shareholders’ equity increased by
Liquidity
The Company manages its liquidity to provide the ability to generate funds to support asset growth, meet deposit withdrawals (both anticipated and unanticipated), fund customers' borrowing needs and satisfy maturity of short-term borrowings. The Company’s liquidity needs are managed using assets or liabilities, or both. On the asset side, in addition to cash and due from banks, the Company maintains an investment portfolio which includes unpledged U.S. Government-sponsored agency securities that are classified as available-for-sale. On the liability side, liquidity needs are managed by offering competitive offering rates on deposit products and the use of established lines of credit.
The Company is a member of the FHLB and can borrow up to
The Company has pledged as collateral under the BTFP securities with a par value of
The Company estimates that it has approximately
Management believes that the Company’s available sources of funds, including borrowings, will provide adequate liquidity for its operations in the foreseeable future.
Net Interest Income and Net Interest Margin
Net interest income was
Non-Interest Income/Expense
During the three months ended March 31, 2023, non-interest income totaled
Mostly offsetting the gain on termination of the interest rate swaps was a decline in gain on sale of SBA 7(a) loans. During the three months ended March 31, 2023 we sold
During the fourth quarter of 2022 and continuing into the first quarter of 2023 we experienced a significant decline in premiums received on the sale of SBA loans; in response we chose to portfolio SBA 7(a) loans which do not meet a minimum premium on sale. During the current period we chose not to sell
During the three months ended March 31, 2023, total non-interest expense increased by
Plumas Bancorp is headquartered in Reno, Nevada. Plumas Bancorp’s principal subsidiary is Plumas Bank, which was founded in 1980. Plumas Bank is a full-service community bank headquartered in Quincy, California. The bank operates fourteen branches: twelve located in the California counties of Lassen, Modoc, Nevada, Placer, Plumas, Shasta and Sutter and two branches located in Nevada in the counties of Carson City and Washoe. The bank also operates three loan production offices located in the California counties of Butte and Placer and Klamath Falls, Oregon. 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, please visit our website at www.plumasbank.com.
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended and Plumas Bancorp intends for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.
Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. Forward-looking statements involve significant risks and uncertainties, and actual results may differ materially from those presented, either expressed or implied, in this news release. Factors that might cause such differences include, but are not limited to: the Company's ability to successfully execute its business plans and achieve its objectives; changes in general economic and financial market conditions, either nationally or locally in areas in which the Company conducts its operations; changes in interest rates; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Company's operations or business; loss of key personnel; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies.
Contact: Jamie Huynh
Investor Relations
Plumas Bancorp
5525 Kietzke Lane Ste. 100
Reno, NV 89511
775.786.0907 x8908
investorrelations@plumasbank.com
PLUMAS BANCORP | |||||||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||||||||
(In thousands) | |||||||||||||
(Unaudited) | |||||||||||||
As of March 31, | |||||||||||||
2023 | 2022 | Dollar Change | Percentage Change | ||||||||||
ASSETS | |||||||||||||
Cash and due from banks | $ | 105,676 | $ | 389,023 | $ | (283,347 | ) | (72.8)% | |||||
Investment securities | 484,416 | 316,188 | 168,228 | ||||||||||
Loans, net of allowance for credit losses | 906,022 | 830,176 | 75,846 | ||||||||||
Loans held for sale | - | 13,953 | (13,953 | ) | (100.0)% | ||||||||
Premises and equipment, net | 18,730 | 18,220 | 510 | ||||||||||
Bank owned life insurance | 15,797 | 15,938 | (141 | ) | (0.9)% | ||||||||
Real estate acquired through foreclosure | 83 | 487 | (404 | ) | (83.0)% | ||||||||
Goodwill | 5,502 | 5,502 | - | -% | |||||||||
Accrued interest receivable and other assets | 42,256 | 32,745 | 9,511 | ||||||||||
Total assets | $ | 1,578,482 | $ | 1,622,232 | $ | (43,750 | ) | (2.7)% | |||||
LIABILITIES AND | |||||||||||||
SHAREHOLDERS’ EQUITY | |||||||||||||
Deposits | $ | 1,406,745 | $ | 1,467,658 | $ | (60,913 | ) | (4.2)% | |||||
Accrued interest payable and other liabilities | 32,914 | 21,191 | 11,723 | ||||||||||
Borrowings | 10,000 | - | 10,000 | ||||||||||
Junior subordinated deferrable interest debentures | - | 10,310 | (10,310 | ) | (100)% | ||||||||
Total liabilities | 1,449,659 | 1,499,159 | (49,500 | ) | (3.3)% | ||||||||
Common stock | 27,608 | 26,990 | 618 | ||||||||||
Retained earnings | 133,997 | 110,467 | 23,530 | ||||||||||
Accumulated other comprehensive income, net | (32,782 | ) | (14,384 | ) | (18,398 | ) | (127.9)% | ||||||
Shareholders’ equity | 128,823 | 123,073 | 5,750 | ||||||||||
Total liabilities and shareholders’ equity | $ | 1,578,482 | $ | 1,622,232 | $ | (43,750 | ) | (2.7)% | |||||
PLUMAS BANCORP | |||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME | |||||||||||||
(In thousands, except per share data) | |||||||||||||
(Unaudited) | |||||||||||||
FOR THE THREE MONTHS ENDED MARCH 31, | 2023 | 2022 | Dollar Change | Percentage Change | |||||||||
Interest income | $ | 17,787 | $ | 12,315 | $ | 5,472 | |||||||
Interest expense | 638 | 300 | 338 | ||||||||||
Net interest income before provision for credit losses | 17,149 | 12,015 | 5,134 | ||||||||||
1,525 | 300 | 1,225 | |||||||||||
Net interest income after provision for credit losses | 15,624 | 11,715 | 3,909 | ||||||||||
Non-interest income | 3,925 | 3,650 | 275 | ||||||||||
Non-interest expense | 9,224 | 7,673 | 1,551 | ||||||||||
Income before income taxes | 10,325 | 7,692 | 2,633 | ||||||||||
Provision for income taxes | 2,699 | 1,974 | 725 | ||||||||||
Net income | $ | 7,626 | $ | 5,718 | $ | 1,908 | |||||||
Basic earnings per share | $ | 1.30 | $ | 0.98 | $ | 0.32 | |||||||
Diluted earnings per share | $ | 1.28 | $ | 0.97 | $ | 0.31 | |||||||
PLUMAS BANCORP | ||||||||||||||
SELECTED FINANCIAL INFORMATION | ||||||||||||||
(Dollars in thousands, except per share data) | ||||||||||||||
(Unaudited) | ||||||||||||||
Three Months Ended | Year Ended | |||||||||||||
3/31/2023 | 12/31/2022 | 3/31/2022 | 12/31/2022 | 12/31/2021 | ||||||||||
EARNINGS PER SHARE | ||||||||||||||
Basic earnings per share | $ | 1.30 | $ | 1.34 | $ | 0.98 | $ | 4.53 | $ | 3.82 | ||||
Diluted earnings per share | $ | 1.28 | $ | 1.32 | $ | 0.97 | $ | 4.47 | $ | 3.76 | ||||
Weighted average shares outstanding | 5,855 | 5,849 | 5,824 | 5,840 | 5,502 | |||||||||
Weighted average diluted shares outstanding | 5,940 | 5,916 | 5,920 | 5,912 | 5,583 | |||||||||
Cash dividends paid per share 1 | $ | 0.25 | $ | 0.16 | $ | 0.16 | $ | 0.64 | $ | 0.56 | ||||
PERFORMANCE RATIOS (annualized for the three months) | ||||||||||||||
Return on average assets | ||||||||||||||
Return on average equity | ||||||||||||||
Yield on earning assets | ||||||||||||||
Rate paid on interest-bearing liabilities | ||||||||||||||
Net interest margin | ||||||||||||||
Noninterest income to average assets | ||||||||||||||
Noninterest expense to average assets | ||||||||||||||
Efficiency ratio 2 | ||||||||||||||
3/31/2023 | 3/31/2022 | 12/31/2022 | 12/31/2021 | 12/31/2020 | ||||||||||
CREDIT QUALITY RATIOS AND DATA | ||||||||||||||
Allowance for credit losses | $ | 12,330 | $ | 10,402 | $ | 10,717 | $ | 10,352 | $ | 9,902 | ||||
Allowance for credit losses as a percentage of total loans | ||||||||||||||
Allowance for credit losses as a percentage of total loans - excluding PPP loans | ||||||||||||||
Nonperforming loans | $ | 3,971 | $ | 4,733 | $ | 1,172 | $ | 4,863 | $ | 2,536 | ||||
Nonperforming assets | $ | 4,153 | $ | 5,243 | $ | 1,190 | $ | 5,397 | $ | 2,970 | ||||
Nonperforming loans as a percentage of total loans | ||||||||||||||
Nonperforming assets as a percentage of total assets | ||||||||||||||
Year-to-date net charge-offs | $ | 166 | $ | 250 | $ | 935 | $ | 675 | $ | 516 | ||||
Year-to-date net charge-offs as a percentage of average loans (annualized) | ||||||||||||||
CAPITAL AND OTHER DATA | ||||||||||||||
Common shares outstanding at end of period | 5,862 | 5,837 | 5,850 | 5,817 | 5,182 | |||||||||
Shareholders' equity | $ | 128,823 | $ | 123,073 | $ | 119,004 | $ | 134,082 | $ | 100,154 | ||||
Book value per common share | $ | 21.98 | $ | 21.08 | $ | 20.34 | $ | 23.05 | $ | 19.33 | ||||
Tangible common equity3 | $ | 122,152 | $ | 116,130 | $ | 112,273 | $ | 127,067 | $ | 99,432 | ||||
Tangible book value per common share4 | $ | 20.84 | $ | 19.90 | $ | 19.19 | $ | 21.84 | $ | 19.19 | ||||
Tangible common equity to total assets | ||||||||||||||
Gross loans to deposits | ||||||||||||||
PLUMAS BANK REGULATORY CAPITAL RATIOS | ||||||||||||||
Tier 1 Leverage Ratio | ||||||||||||||
Common Equity Tier 1 Ratio | ||||||||||||||
Tier 1 Risk-Based Capital Ratio | ||||||||||||||
Total Risk-Based Capital Ratio | ||||||||||||||
(1) The Company paid a quarterly cash dividend of | ||||||||||||||
(2) Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and total noninterest income). | ||||||||||||||
(3) Tangible common equity is defined as common equity less core deposit intangibles and goodwill. | ||||||||||||||
(4) Tangible common book value per share is defined as tangible common equity divided by common shares outstanding. | ||||||||||||||
PLUMAS BANCORP | ||||||||||||||
SELECTED FINANCIAL INFORMATION | ||||||||||||||
(Dollars in thousands) | ||||||||||||||
(Unaudited) | ||||||||||||||
The following table shows the distribution of loans by type at March 31, 2023 and 2022. | ||||||||||||||
Percent of | Percent of | |||||||||||||
Loans in Each | Loans in Each | |||||||||||||
Balance at End | Category to | Balance at End | Category to | |||||||||||
of Period | Total Loans | of Period | Total Loans | |||||||||||
3/31/2023 | 3/31/2023 | 3/31/2022 | 3/31/2022 | |||||||||||
Commercial | $ | 76,738 | 8.4 | % | $ | 96,787 | 11.5 | % | ||||||
Agricultural | 118,089 | 12.9 | % | 123,416 | 14.7 | % | ||||||||
Real estate – residential | 14,734 | 1.6 | % | 15,637 | 1.9 | % | ||||||||
Real estate – commercial | 521,884 | 57.0 | % | 423,511 | 50.5 | % | ||||||||
Real estate – construction & land | 42,726 | 4.7 | % | 55,668 | 6.6 | % | ||||||||
Equity Lines of Credit | 35,805 | 3.9 | % | 32,602 | 3.9 | % | ||||||||
Auto | 100,670 | 11.0 | % | 86,768 | 10.4 | % | ||||||||
Other | 4,958 | 0.5 | % | 4,297 | 0.5 | % | ||||||||
Total Gross Loans | $ | 915,604 | 100 | % | $ | 838,686 | 100 | % | ||||||
The following table shows the distribution of deposits by type at March 31, 2023 and 2022. | ||||||||||||||
Percent of | Percent of | |||||||||||||
Deposits in Each | Deposits in Each | |||||||||||||
Balance at End | Category to | Balance at End | Category to | |||||||||||
of Period | Total Deposits | of Period | Total Deposits | |||||||||||
3/31/2023 | 3/31/2023 | 3/31/2022 | 3/31/2022 | |||||||||||
Non-interest bearing | $ | 741,754 | 52.7 | % | $ | 752,246 | 51.3 | % | ||||||
Money Market | 221,676 | 15.8 | % | 257,404 | 17.5 | % | ||||||||
Savings | 394,305 | 28.0 | % | 394,198 | 26.9 | % | ||||||||
Time | 49,010 | 3.5 | % | 63,810 | 4.3 | % | ||||||||
Total Deposits | $ | 1,406,745 | 100 | % | $ | 1,467,658 | 100 | % | ||||||
PLUMAS BANCORP | ||||||||||||||||||
SELECTED FINANCIAL INFORMATION | ||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||
(Unaudited) | ||||||||||||||||||
The following table presents for the three-month periods indicated the distribution of consolidated average assets, liabilities | ||||||||||||||||||
and shareholders' equity. | ||||||||||||||||||
For the Three Months Ended | For the Three Months Ended | |||||||||||||||||
3/31/2023 | 3/31/2022 | |||||||||||||||||
Average | Yield/ | Average | Yield/ | |||||||||||||||
Balance | Interest | Rate | Balance | Interest | Rate | |||||||||||||
Interest-earning assets: | ||||||||||||||||||
Loans (2) (3) | $ | 912,989 | $ | 12,653 | 5.62 | % | $ | 831,289 | $ | 10,311 | 5.03 | % | ||||||
Loans held for sale | 1,840 | 41 | 9.04 | % | 22,727 | 305 | 5.44 | % | ||||||||||
Investment securities | 341,958 | 2,814 | 3.34 | % | 214,609 | 997 | 1.88 | % | ||||||||||
Non-taxable investment securities (1) | 124,618 | 914 | 2.97 | % | 96,844 | 534 | 2.24 | % | ||||||||||
Interest-bearing deposits | 119,221 | 1,365 | 4.64 | % | 353,155 | 168 | 0.19 | % | ||||||||||
Total interest-earning assets | 1,500,626 | 17,787 | 4.81 | % | 1,518,624 | 12,315 | 3.29 | % | ||||||||||
Cash and due from banks | 26,725 | 54,507 | ||||||||||||||||
Other assets | 75,184 | 60,704 | ||||||||||||||||
Total assets | $ | 1,602,535 | $ | 1,633,835 | ||||||||||||||
Interest-bearing liabilities: | ||||||||||||||||||
Money market deposits | 235,857 | 216 | 0.37 | % | 262,619 | 66 | 0.10 | % | ||||||||||
Savings deposits | 402,302 | 199 | 0.20 | % | 384,689 | 81 | 0.09 | % | ||||||||||
Time deposits | 48,017 | 51 | 0.43 | % | 64,148 | 47 | 0.30 | % | ||||||||||
Total deposits | 686,176 | 466 | 0.28 | % | 711,456 | 194 | 0.11 | % | ||||||||||
Borrowings | 1,333 | 13 | 3.96 | % | - | - | - | % | ||||||||||
Junior subordinated debentures | 9,302 | 141 | 6.15 | % | 10,310 | 88 | 3.46 | % | ||||||||||
Other interest-bearing liabilities | 18,485 | 18 | 0.39 | % | 13,861 | 18 | 0.53 | % | ||||||||||
Total interest-bearing liabilities | 715,296 | 638 | 0.36 | % | 735,627 | 300 | 0.17 | % | ||||||||||
Non-interest-bearing deposits | 749,361 | 754,285 | ||||||||||||||||
Other liabilities | 14,288 | 11,900 | ||||||||||||||||
Shareholders' equity | 123,590 | 132,023 | ||||||||||||||||
Total liabilities & equity | $ | 1,602,535 | $ | 1,633,835 | ||||||||||||||
Cost of funding interest-earning assets (4) | 0.17 | % | 0.08 | % | ||||||||||||||
Net interest income and margin (5) | $ | 17,149 | 4.64 | % | $ | 12,015 | 3.21 | % | ||||||||||
(1) Not computed on a tax-equivalent basis. | ||||||||||||||||||
(2) Average nonaccrual loan balances of | ||||||||||||||||||
(3) Net (costs) fees included in loan interest income for the three-month periods ended March 31, 2023 and 2022 were ( | ||||||||||||||||||
(4) Total annualized interest expense divided by the average balance of total earning assets. | ||||||||||||||||||
(5) Annualized net interest income divided by the average balance of total earning assets. | ||||||||||||||||||
PLUMAS BANCORP | |||||||||||||
SELECTED FINANCIAL INFORMATION | |||||||||||||
(Dollars in thousands) | |||||||||||||
(Unaudited) | |||||||||||||
The following table presents the components of non-interest income for the three-month | |||||||||||||
periods ended March 31, 2023 and 2022. | |||||||||||||
For the Three Months Ended | |||||||||||||
March 31, | |||||||||||||
2023 | 2022 | Dollar Change | Percentage Change | ||||||||||
Gain on termination of interest rate swaps | $ | 1,707 | $ | - | $ | 1,707 | |||||||
Interchange income | 718 | 762 | (44 | ) | (5.8)% | ||||||||
Service charges on deposit accounts | 617 | 566 | 51 | ||||||||||
Loan servicing fees | 236 | 209 | 27 | ||||||||||
Gain on sale of loans, net | 230 | 1,701 | (1,471 | ) | (86.5)% | ||||||||
Earnings on life insurance policies | 104 | 93 | 11 | ||||||||||
Other | 313 | 319 | (6 | ) | (1.9)% | ||||||||
Total non-interest income | $ | 3,925 | $ | 3,650 | $ | 275 | |||||||
The following table presents the components of non-interest expense for the three-month | |||||||||||||
periods ended March 31, 2023 and 2022. | |||||||||||||
For the Three Months Ended | |||||||||||||
March 31, | |||||||||||||
2023 | 2022 | Dollar Change | Percentage Change | ||||||||||
Salaries and employee benefits | $ | 5,067 | $ | 4,082 | $ | 985 | |||||||
Occupancy and equipment | 1,340 | 1,137 | 203 | ||||||||||
Outside service fees | 994 | 908 | 86 | ||||||||||
Professional fees | 342 | 279 | 63 | ||||||||||
Director compensation and expense | 242 | 141 | 101 | ||||||||||
Telephone and data communication | 200 | 191 | 9 | ||||||||||
Deposit insurance | 188 | 197 | (9 | ) | (4.6)% | ||||||||
Advertising and shareholder relations | 179 | 112 | 67 | ||||||||||
Armored car and courier | 165 | 148 | 17 | ||||||||||
Business development | 139 | 115 | 24 | ||||||||||
Loan collection expenses | 130 | 68 | 62 | ||||||||||
Amortization of Core Deposit Intangible | 60 | 72 | (12 | ) | (16.7)% | ||||||||
Other | 178 | 223 | (45 | ) | (20.2)% | ||||||||
Total non-interest expense | $ | 9,224 | $ | 7,673 | $ | 1,551 |
FAQ
What were Plumas Bancorp's earnings for Q1 2023?
How did Plumas Bancorp's net interest income change in Q1 2023?
What is the current status of Plumas Bancorp's loans and deposits?
What are the return metrics for Plumas Bancorp in Q1 2023?