Plumas Bancorp reports Q3 EPS $1.31 vs $1.34 last year

The annualized return on average assets was 1.84% for the three months ended September 30, 2024, down from 2.00% for the three months ended September 30, 2023. The annualized return on average equity decreased from 24.4% during the third quarter of 2023 to 18.1% during the current quarter. Book value per share increased by $10.41, or 51%, to $30.85. Andrew J. Ryback, director, president, and chief executive officer of Plumas Bancorp and Plumas Bank, commented on the third quarter of 2024, stating, “We anticipate increased deposit retention as a result of the Fed’s decision to cut rates by 50bp in the third quarter as rate seeking funds movement activity will likely be tempered. Additionally, lower rates will likely ease potential challenges for variable rate borrowers.”