Plumas Bancorp (Nasdaq:PLBC), the parent company of Plumas Bank
(the “Bank”), today announced record earnings for the three and six
months ended June 30, 2016. Earnings during the second quarter of
2016 totaled $1.8 million an increase of $482 thousand, or 36%,
from $1.4 million during the three months ended June 30, 2015.
Earnings per diluted share increased to $0.36 during the three
months ended June 30, 2016 up $0.09 from $0.27 during the second
quarter of 2015. For the six months ended June 30, 2016, Plumas
Bancorp (the “Company”) reported net income of $3.4 million, an
increase of $840 thousand, or 33%, from $2.6 million during the six
months ended June 30, 2015. Earnings per diluted share increased to
$0.67 during the six months ended June 30, 2016 up $0.16 from $0.51
during the first six months of 2015.
The annualized return on average assets (ROA)
increased to 1.23% for the three months ended June 30, 2016, up
from 0.99% for the three months ended June 30, 2015. The
annualized return on average equity (ROE) increased to 16.3% during
the current quarter up from 13.9% during the second quarter of
2015. ROA increased to 1.15% for the six months ended June
30, 2016, up from 0.94% for the six months ended June 30,
2015. ROE increased to 15.3% during the six months ended June
30, 2016 up from 13.5% during the first six months of 2015.
Book value per share increased to $9.55 at June 30, 2016 up from
$8.09 at June 30, 2015.
Director, President and Chief Executive Officer,
Andrew J. Ryback, commented, “I am extremely pleased to report that
for the period ended June 30, 2016, the Company achieved its
highest quarterly earnings in its 35 year history. This
accomplishment is the result of robust growth in loans, deposits
and revenues, combined with maintaining expenses at 2015
levels.”
Ryback continued, “The Bank is committed to
investing in and expanding our loan production capabilities as most
recently evidenced by the opening of a loan production office in
Klamath Falls, Oregon and the hiring of a proven agriculture and
commercial loan professional. Additionally, our asset quality
continues to improve and our capital remains strong, exceeding the
required level to be considered a “well-capitalized” institution.
Our exceptional operating results were made during a continuing
period of economic challenges and are a direct result of the
effective execution of our strategic plan. We look forward to the
rest of the year with confidence."
Financial HighlightsJune
30, 2016 compared to June 30, 2015
- Total assets increased by $46.5 million, or 8%, to $604
million.
- Net loans increased by $37.9 million, or 10%, to $427 million
at June 30, 2016 compared to $389 million at June 30, 2015.
- Total deposits increased by $41.3 million to $535 million at
June 30, 2016.
- Nonperforming loans decreased by $2.1 million from $5.1 million
at June 30, 2015 to $3.0 million at June 30, 2016.
- Nonperforming assets decreased by $2.3 million from $8.1
million at June 30, 2015 to $5.8 million at June 30, 2016.
- The ratio of nonperforming loans to total loans decreased from
1.29% to 0.69% and the ratio of nonperforming assets to total
assets decreased from 1.46% to 0.96%.
- Annualized net charges-offs as a percent of average loans
declined from 0.14% to 0.02%.
- Total common equity increased by $7.4 million to $46.4
million.
Three months ended June 30, 2016 compared
to June 30, 2015
- Net income increased by $482 thousand, or 36%, to $1.8
million.
- Diluted earnings per share increased by 9 cents or 33%, to 36
cents.
- Annualized return on average assets increased from 0.99% to
1.23%.
- Annualized return on equity increased from 13.9% to 16.3%.
- Income before provision for taxes increased by $795 thousand to
$3.0 million.
- Net interest income increased by $513 thousand, or 10%, to $5.8
million.
- Non-interest income increased by $233 thousand, or 13%, to $2.1
million.
Six months ended June 30, 2016 compared
to June 30, 2015
- Net income increased by $840 thousand, or 33%, to $3.4
million.
- Diluted EPS increased by $0.16, or 31%, from $0.51 to
$0.67.
- Annualized return on average assets increased from 0.94% to
1.15%.
- Annualized return on equity increased from 13.5% to 15.3%.
- Income before provision for taxes increased by $1.3 million to
$5.6 million.
- Net interest income increased by $1.3 million, or 12%, to $11.6
million.
- Net interest margin increased to 4.23% from 4.16%.
Asset Quality
Nonperforming loans at June 30, 2016 were $3.0
million, a decrease of $2.1 million, or 41%, from the $5.1 million
balance at June 30, 2015. Nonperforming loans as a percentage of
total loans decreased to 0.69% at June 30, 2016, down from 1.29% at
June 30, 2015. Nonperforming assets (which are comprised of
nonperforming loans, other real estate owned (“OREO”) and
repossessed vehicle holdings (“OVO”)) at June 30, 2016 were $5.8
million, down $2.3 million, or 28%, from $8.1 million at June 30,
2015. Nonperforming assets as a percentage of total assets
decreased to 0.96% at June 30, 2016, down from 1.46% at June 30,
2015.
During the six months ended June 30, 2016 we
recorded a provision for loan losses of $400 thousand, down $200
thousand from the $600 thousand during the same period in 2015. Net
charge-offs totaled $48 thousand during the six months ended June
30, 2016 and $271 thousand during the same period in 2015. Net
charge-offs as a percentage of average loans decreased from 0.14%
during the six months ended June 30, 2015 to 0.02% during the
current period. The allowance for loan losses totaled $6.4 million
at June 30, 2016 and $5.8 million at June 30, 2015. The allowance
for loan losses as a percentage of total loans increased slightly
from 1.47% at June 30, 2015 to 1.49% at June 30, 2016.
Loans, Deposits, Investments and Cash
Net loans increased by $37.9 million, or 10%,
from $389 million at June 30, 2015 to $427 million at June 30,
2016. The three largest areas of growth in the Company’s loan
portfolio were $30.2 million in commercial real estate loans, $8.5
million in agricultural loans and $4.6 million in commercial loans.
The two largest decreases were $8.0 million in construction and
land development loans and $3.4 million in residential real estate
loans. The construction and land development portfolio component
has been identified by Management as a higher-risk loan
category. Construction and land development loans represented
4.3% and 6.8% of the loan portfolio as of June 30, 2016 and June
30, 2015, respectively.
Total deposits increased by $41.3 million from
$493 million at June 30, 2015 to $535 million at June 30,
2016. This $41.3 million increase includes increases of $19.3
million in non-interest bearing demand deposits, $6.0 million in
interest bearing transaction accounts and $17.8 million in money
market and savings accounts. Time deposits declined by $1.8 million
to $51.1 million or less than 10% of total deposits. The Company
has no brokered deposits.
Total investment securities were $99.4 million
at June 30, 2016 and $90.0 million at June 30, 2015. Cash and due
from banks was $41.0 million at June 30, 2016 and $41.3 million at
June 30, 2015.
Shareholders’ Equity
Total shareholders’ equity increased by $7.4
million from $39.0 million at June 30, 2015 to $46.4 million at
June 30, 2016. The $7.4 million increase was related to earnings
during the twelve month period of $6.7 million, an increase in net
unrealized gains on investment securities of $1.4 million and an
increase of $0.2 million representing stock option activity.
These items were partially offset by the repurchase of a portion of
a warrant, in May of 2016, representing the right to purchase
150,000 shares of the registrant’s common stock at a cost of $0.9
million. The remaining warrant represents the right to
purchase 150,000 shares of Plumas Bancorp common stock at an
exercise price of $5.25 per share. The warrant is associated
with the Bancorp’s subordinated debenture, which was fully paid in
April, 2015.
Net Interest Income and Net Interest
Margin
Net interest income, on a nontax-equivalent
basis, was $5.8 million for the three months ended June 30, 2016,
an increase of $513 thousand, or 10%, from $5.3 million for the
same period in 2015. The increase in net interest income
includes an increase of $483 thousand in interest income and a
decline of $30 thousand in interest expense. The largest
component of the increase in interest income was a $405 thousand
increase in interest and fees on loans related to growth in the
loan portfolio. The reduction in interest expense is related
to the payoff of the Bancorp’s subordinated debenture in April,
2015. Net interest margin for the three months ended
June 30, 2016 and 2015 was 4.26%.
Net interest income, on a nontax-equivalent
basis, for the six months ended June 30, 2016 was $11.6 million, an
increase of $1.3 million from the $10.3 million earned during the
same period in 2015. Driven mostly by an increase in average loan
balances, interest income increased by $1.1 million while interest
expense, which benefited from the payoff of the Bancorp’s
subordinated debenture, declined by $167 thousand. Net
interest margin for the six months ended June 30, 2016 increased
seven basis points to 4.23%, up from 4.16% for the same period in
2015.
Non-Interest Income and Expense
During the three months ended June 30, 2016
non-interest income increased by $233 thousand to $2.0 million, up
from $1.8 million during the three months ended June 30,
2015. The largest component of this increase was an increase
in gain on sale of SBA loans of $242 thousand from $317 thousand
during the 2015 quarter to $559 thousand during the three months
ended June 30, 2016. Other increases included an increase in
service charge income of $28 thousand and an increase in loan
servicing fees of $18 thousand. These items were partially offset
by a $79 thousand decrease in dividends from the Federal Home Loan
Bank of San Francisco (FHLB). During June 2015 Plumas Bank received
an $88 thousand one-time special dividend from the FHLB.
During the six months ended June 30, 2016
non-interest income totaled $3.7 million, a decrease of $160
thousand from the six months ended June 30, 2015. The largest
components of this change were decreases of $82 thousand in gain on
sale of SBA loans, $75 thousand in FHLB dividends and $62 thousand
in loss/gain on sale of securities. During the six months ended
June 30, 2016 we sold fourteen investment securities recording a
net loss of $32 thousand. During the same period in 2015 we
recorded a gain on sale of $30 thousand from the sale of eight
securities.
During the three months ended June 30, 2016,
non-interest expense totaled $4.7 million, an increase of $51
thousand from $4.6 million during the second quarter of 2015. The
two largest increases were $132 thousand in salary and benefit
expense and $59 thousand in outside service fees. Salary
expense increased by $75 thousand which included annual merit
increases and additional lending personnel including a new
commercial/agricultural loan officer located in Klamath Falls,
Oregon. Bonus expense increased by $73 thousand to $208 thousand
during the second quarter related to the increase in Company
profitability. Commission expense related to an increase in SBA
loan sales, increased by $96 thousand. These items were
partially offset by an increase in deferred loan origination costs
of $170 thousand related to an increase in loan production. The
increase in outside service fees included a $31 thousand increase
in debit card processing expense which was offset by an increase in
interchange income. These increases in non-interest expense were
offset by a $172 thousand decline in the provision from change in
OREO valuation and a $60 thousand decline in OREO costs. OREO
represents real property taken by the Bank either through
foreclosure or through a deed in lieu from the borrower. When
other real estate is acquired, any excess of the Bank’s recorded
investment in the loan balance and accrued interest income over the
estimated fair market value of the property, less costs to sell, is
charged against the allowance for loan losses. A valuation
allowance for losses on other real estate is maintained to provide
for temporary declines in value. The allowance is established
through a provision for subsequent losses on other real estate
which is included in other expenses. Subsequent gains or losses on
sales or from impairment are recorded as incurred. The
provision from change in OREO valuation decreased from $172
thousand during the second quarter of 2015 to $0 during the current
quarter. OREO costs which declined from $46 thousand during
the 2015 quarter to a credit of $14 thousand during the three
months ended June 30, 2016 benefited from a reduction in OREO
properties, a reimbursement of previously incurred costs and rental
income on a new OREO property.
During the six months ended June 30, 2016
non-interest expense decreased by $22 thousand to $9.3
million. The largest components of this decease were declines
of $92 thousand in OREO costs, $57 thousand in loan and collections
expenses and $34 thousand in the provision from change in OREO
valuation. The largest increases in non-interest expense were $71
thousand in outside service fees and $37 thousand in marketing
expenses. The increase in marketing costs was mostly related
to our new Reno, Nevada branch.
Founded in 1980, Plumas Bank is a locally owned and managed
full-service community bank based in Northeastern California. The
Bank operates twelve branches: eleven located in the California
counties of Plumas, Lassen, Placer, Nevada, Modoc and Shasta and
one branch in the Nevada County of Washoe. The Bank also operates
five loan production offices: two located in the California
Counties of Placer and Butte, one located in the Oregon County of
Klamath, one located in the Washington County of King and one
located in the Arizona County of Maricopa. 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.
In addition, discussions about risks and
uncertainties are set forth from time to time in the Company’s
publicly available Securities and Exchange Commission filings. The
Company undertakes no obligation to publicly revise these
forward-looking statements to reflect subsequent events or
circumstances.
|
PLUMAS BANCORP |
CONDENSED CONSOLIDATED BALANCE
SHEETS |
(In thousands) |
(Unaudited) |
|
|
As of June
30, |
|
|
ASSETS |
|
2016 |
|
2015 |
|
Dollar Change |
|
Percentage Change |
Cash and due from
banks |
|
$ |
40,965 |
|
|
$ |
41,333 |
|
|
$ |
(368 |
) |
|
|
-0.9 |
% |
Investment securities |
|
|
99,426 |
|
|
|
90,024 |
|
|
|
9,402 |
|
|
|
10.4 |
% |
Loans, net of allowance
for loan losses |
|
|
426,679 |
|
|
|
388,786 |
|
|
|
37,893 |
|
|
|
9.7 |
% |
Premises and equipment,
net |
|
|
12,097 |
|
|
|
12,296 |
|
|
|
(199 |
) |
|
|
-1.6 |
% |
Bank owned life
insurance |
|
|
12,358 |
|
|
|
12,016 |
|
|
|
342 |
|
|
|
2.8 |
% |
Real estate acquired
through foreclosure |
|
|
2,817 |
|
|
|
2,970 |
|
|
|
(153 |
) |
|
|
-5.2 |
% |
Accrued interest
receivable and other assets |
|
|
9,700 |
|
|
|
10,162 |
|
|
|
(462 |
) |
|
|
-4.5 |
% |
Total
assets |
|
$ |
604,042 |
|
|
$ |
557,587 |
|
|
$ |
46,455 |
|
|
|
8.3 |
% |
|
|
|
|
|
|
|
|
|
LIABILITIES
AND |
|
|
|
|
|
|
|
|
SHAREHOLDERS’ EQUITY |
|
|
Deposits |
|
$ |
534,634 |
|
|
$ |
493,368 |
|
|
$ |
41,266 |
|
|
|
8.4 |
% |
Accrued interest payable
and other liabilities |
|
|
10,061 |
|
|
|
9,888 |
|
|
|
173 |
|
|
|
1.7 |
% |
Note payable |
|
|
2,625 |
|
|
|
5,000 |
|
|
|
(2,375 |
) |
|
|
-47.5 |
% |
Junior subordinated
deferrable interest debentures |
|
|
10,310 |
|
|
|
10,310 |
|
|
|
- |
|
|
|
0.0 |
% |
Total
liabilities |
|
|
557,630 |
|
|
|
518,566 |
|
|
|
39,064 |
|
|
|
7.5 |
% |
Common stock |
|
|
5,746 |
|
|
|
6,389 |
|
|
|
(643 |
) |
|
|
-10.1 |
% |
Retained earnings |
|
|
39,473 |
|
|
|
32,815 |
|
|
|
6,658 |
|
|
|
20.3 |
% |
Accumulated other
comprehensive income (loss), net |
|
|
1,193 |
|
|
|
(183 |
) |
|
|
1,376 |
|
|
|
751.9 |
% |
Shareholders’ equity |
|
|
46,412 |
|
|
|
39,021 |
|
|
|
7,391 |
|
|
|
18.9 |
% |
Total
liabilities and shareholders’ equity |
|
$ |
604,042 |
|
|
$ |
557,587 |
|
|
$ |
46,455 |
|
|
|
8.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PLUMAS BANCORP |
CONDENSED CONSOLIDATED STATEMENTS OF
INCOME |
(In thousands, except per share data) |
(Unaudited) |
|
|
|
|
|
|
|
FOR THE THREE MONTHS ENDED
JUNE 30, |
|
|
2016 |
|
|
|
2015 |
|
|
Dollar Change |
|
Percentage Change |
Interest income |
|
$ |
6,077 |
|
|
$ |
5,594 |
|
|
$ |
483 |
|
|
|
8.6 |
% |
Interest expense |
|
|
247 |
|
|
|
277 |
|
|
|
(30 |
) |
|
|
-10.8 |
% |
Net
interest income before provision for loan losses |
|
|
5,830 |
|
|
|
5,317 |
|
|
|
513 |
|
|
|
9.6 |
% |
Provision for loan
losses |
|
|
200 |
|
|
|
300 |
|
|
|
(100 |
) |
|
|
-33.3 |
% |
Net
interest income after provision for loan losses |
|
|
5,630 |
|
|
|
5,017 |
|
|
|
613 |
|
|
|
12.2 |
% |
Non-interest income |
|
|
2,055 |
|
|
|
1,822 |
|
|
|
233 |
|
|
|
12.8 |
% |
Non-interest expense |
|
|
4,680 |
|
|
|
4,629 |
|
|
|
51 |
|
|
|
1.1 |
% |
Income
before income taxes |
|
|
3,005 |
|
|
|
2,210 |
|
|
|
795 |
|
|
|
36.0 |
% |
Provision for income
taxes |
|
|
1,168 |
|
|
|
855 |
|
|
|
313 |
|
|
|
36.6 |
% |
Net
income |
|
$ |
1,837 |
|
|
$ |
1,355 |
|
|
$ |
482 |
|
|
|
35.6 |
% |
|
|
|
|
|
|
|
|
|
Basic earnings per
share |
|
$ |
0.38 |
|
|
$ |
0.28 |
|
|
$ |
0.10 |
|
|
|
35.7 |
% |
Diluted earnings per
share |
|
$ |
0.36 |
|
|
$ |
0.27 |
|
|
$ |
0.09 |
|
|
|
33.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
FOR THE SIX MONTHS ENDED
JUNE 30, |
|
|
2016 |
|
|
|
2015 |
|
|
DollarChange |
|
Percentage Change |
Interest income |
|
$ |
12,077 |
|
|
$ |
10,970 |
|
|
$ |
1,107 |
|
|
|
10.1 |
% |
Interest expense |
|
|
509 |
|
|
|
676 |
|
|
|
(167 |
) |
|
|
-24.7 |
% |
Net
interest income before provision for loan losses |
|
|
11,568 |
|
|
|
10,294 |
|
|
|
1,274 |
|
|
|
12.4 |
% |
Provision for loan
losses |
|
|
400 |
|
|
|
600 |
|
|
|
(200 |
) |
|
|
-33.3 |
% |
Net
interest income after provision for loan losses |
|
|
11,168 |
|
|
|
9,694 |
|
|
|
1,474 |
|
|
|
15.2 |
% |
Non-interest income |
|
|
3,707 |
|
|
|
3,867 |
|
|
|
(160 |
) |
|
|
-4.1 |
% |
Non-interest expense |
|
|
9,313 |
|
|
|
9,335 |
|
|
|
(22 |
) |
|
|
-0.2 |
% |
Income
before income taxes |
|
|
5,562 |
|
|
|
4,226 |
|
|
|
1,336 |
|
|
|
31.6 |
% |
Provision for income
taxes |
|
|
2,152 |
|
|
|
1,656 |
|
|
|
496 |
|
|
|
30.0 |
% |
Net
income |
|
$ |
3,410 |
|
|
$ |
2,570 |
|
|
$ |
840 |
|
|
|
32.7 |
% |
|
|
|
|
|
|
|
|
|
Basic earnings per
share |
|
$ |
0.70 |
|
|
$ |
0.53 |
|
|
$ |
0.17 |
|
|
|
32.1 |
% |
Diluted earnings per
share |
|
$ |
0.67 |
|
|
$ |
0.51 |
|
|
$ |
0.16 |
|
|
|
31.4 |
% |
PLUMAS BANCORP |
SELECTED FINANCIAL INFORMATION |
(Dollars in thousands, except per share
data) |
(Unaudited) |
|
June 30, |
|
|
2016 |
|
|
|
2015 |
|
QUARTERLY AVERAGE
BALANCES |
|
|
|
Assets |
$ |
598,273 |
|
|
$ |
550,818 |
|
Earning assets |
$ |
550,421 |
|
|
$ |
500,246 |
|
Investments |
$ |
100,243 |
|
|
$ |
91,381 |
|
Loans |
$ |
419,647 |
|
|
$ |
386,924 |
|
Deposits |
$ |
529,124 |
|
|
$ |
484,719 |
|
Equity |
$ |
45,373 |
|
|
$ |
39,008 |
|
|
|
CREDIT QUALITY
DATA |
|
|
|
Allowance for loan
losses |
$ |
6,430 |
|
|
$ |
5,780 |
|
Allowance for loan losses
as a percentage of total loans |
|
1.49 |
% |
|
|
1.47 |
% |
Nonperforming loans |
$ |
2,968 |
|
|
$ |
5,078 |
|
Nonperforming assets |
$ |
5,796 |
|
|
$ |
8,130 |
|
Nonperforming loans as a
percentage of total loans |
|
0.69 |
% |
|
|
1.29 |
% |
Nonperforming assets as a
percentage of total assets |
|
0.96 |
% |
|
|
1.46 |
% |
Year-to-date net
charge-offs |
$ |
48 |
|
|
$ |
271 |
|
Year-to-date net
charge-offs as a percentage of average |
|
0.02 |
% |
|
|
0.14 |
% |
loans, annualized |
|
|
|
|
|
|
|
|
|
|
SHARE AND PER
SHARE DATA |
|
|
|
Basic earnings per share
for the quarter |
$ |
0.38 |
|
|
$ |
0.28 |
|
Diluted earnings per share
for the quarter |
$ |
0.36 |
|
|
$ |
0.27 |
|
Quarterly weighted average
shares outstanding |
|
4,857 |
|
|
|
4,813 |
|
Quarterly weighted average
diluted shares outstanding |
|
5,047 |
|
|
|
5,069 |
|
Basic earnings per share,
year-to-date |
$ |
0.70 |
|
|
$ |
0.53 |
|
Diluted earnings per
share, year-to-date |
$ |
0.67 |
|
|
$ |
0.51 |
|
Year-to-date weighted
average shares outstanding |
|
4,849 |
|
|
|
4,806 |
|
Year-to-date weighted
average diluted shares outstanding |
|
5,057 |
|
|
|
5,058 |
|
Book value per common
share |
$ |
9.55 |
|
|
$ |
8.09 |
|
Total shares
outstanding |
|
4,862 |
|
|
|
4,821 |
|
|
|
QUARTERLY KEY
FINANCIAL RATIOS |
|
|
Annualized return on
average equity |
|
16.3 |
% |
|
|
13.9 |
% |
Annualized return on
average assets |
|
1.23 |
% |
|
|
0.99 |
% |
Net interest margin |
|
4.26 |
% |
|
|
4.26 |
% |
Efficiency ratio |
|
59.4 |
% |
|
|
64.8 |
% |
|
|
YEAR-TO-DATE KEY
FINANCIAL RATIOS |
|
|
Annualized return on
average equity |
|
15.3 |
% |
|
|
13.5 |
% |
Annualized return on
average assets |
|
1.15 |
% |
|
|
0.94 |
% |
Net interest margin |
|
4.23 |
% |
|
|
4.16 |
% |
Efficiency ratio |
|
61.0 |
% |
|
|
65.9 |
% |
Loan to Deposit Ratio |
|
80.7 |
% |
|
|
79.6 |
% |
|
PLUMAS BANK
CAPITAL RATIOS |
|
|
Tier 1 Leverage
Ratio |
|
9.5 |
% |
|
|
9.6 |
% |
Common Equity Tier 1
Ratio |
|
12.0 |
% |
|
|
12.3 |
% |
Tier 1 Risk-Based
Capital Ratio |
|
12.0 |
% |
|
|
12.3 |
% |
Total Risk-Based
Capital Ratio |
|
13.3 |
% |
|
|
13.5 |
% |
Contact: Elizabeth Kuipers
Vice President, Marketing Manager & Investor Relations Officer
Plumas Bank
35 S. Lindan Ave.
Quincy, CA 95971
530.283.7305 ext.8912
investorrelations@plumasbank.com
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