Plumas ( (PLBC) ) has released its Q3 earnings. Here is a breakdown of the information Plumas presented to its investors.
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Plumas Bancorp, the parent company of Plumas Bank, is a community bank headquartered in Quincy, California, offering a range of financial services across its branches in California and Nevada. The bank recently reported its third-quarter earnings for 2025, highlighting a net income of $5.1 million, a decrease from the previous year’s $7.8 million. This decline was attributed to increased provisions for credit losses and non-interest expenses, despite a rise in net interest income.
Key financial metrics showed a mixed performance, with net interest income increasing by $6.3 million and a reduction in income tax provisions by $1.1 million. However, these were offset by a $5.8 million increase in credit loss provisions and a $4.3 million rise in non-interest expenses. The acquisition of Cornerstone Community Bank significantly impacted these results, contributing to a 49% increase in gross loans and a 35% rise in deposits.
The acquisition of Cornerstone Community Bank added $658 million in assets, $478 million in loans, and $580 million in deposits to Plumas Bancorp’s balance sheet. This strategic move also resulted in non-recurring merger-related expenses of $6.2 million for the quarter. Despite these challenges, the company managed to improve its net interest margin to 4.83% from 4.76% in the previous year.
Looking ahead, Plumas Bancorp remains focused on integrating Cornerstone’s operations and optimizing its financial structure. The management anticipates a slight decrease in the cost of funds due to strategic financial adjustments and recent Federal Reserve rate cuts, aiming to enhance shareholder value and support community growth.