Plumas Bancorp (Nasdaq:PLBC), the parent company of Plumas Bank
(the “Bank”), today announced record earnings for the three and
nine months ended September 30, 2016. Earnings during the third
quarter of 2016 totaled $2.0 million an increase of $357 thousand,
or 22%, from $1.6 million during the three months ended September
30, 2015. Earnings per diluted share increased to $0.39 during the
three months ended September 30, 2016 up $0.07 from $0.32 during
the third quarter of 2015. For the nine months ended September 30,
2016, Plumas Bancorp (the “Company”) reported net income of $5.4
million, an increase of $1.2 million, or 29%, from $4.2 million
during the nine months ended September 30, 2015. Earnings per
diluted share increased to $1.06 during the nine months ended
September 30, 2016 up $0.24 from $0.82 during the first nine months
of 2015.
The annualized return on average assets (ROA)
increased to 1.23% for the three months ended September 30, 2016,
up from 1.08% for the three months ended September 30, 2015.
The annualized return on average equity (ROE) increased to 16.3%
during the current quarter up from 15.7% during the third quarter
of 2015. ROA increased to 1.18% for the nine months ended
September 30, 2016, up from 0.99% for the nine months ended
September 30, 2015. ROE increased to 15.7% during the nine
months ended September 30, 2016 up from 14.3% during the first nine
months of 2015. Book value per share increased to $9.91 at
September 30, 2016 up $1.37 from $8.54 at September 30, 2015.
Commenting on the recent quarter’s record
performance, Director, President and Chief Executive Officer,
Andrew J. Ryback, noted, “The Company’s third quarter performance
reflects robust deposit and loan growth, continued strong credit
quality and further improved operating efficiency, contributing to
a 22% increase in diluted earnings per share to $0.39 for the three
months ended September 30, 2016. Our investment in experienced,
productive loan officers continues to pay dividends. Because of
their efforts, net loans increased by over $55 million or 14% from
Septembers 30, 2015. Deposits increased by over $42 million
during the same period. With regard to credit quality,
non-performing loans decreased by $1.9 million and net charge-offs
declined by $233 thousand compared to the same time period one year
ago. Finally, our efficiency ratio, which measures our non-interest
expenses as a percentage of our revenues, declined to 58% during
the three months ended September 30, 2016 compared to 61.5% during
the three months ended September 30, 2015.”
Ryback concluded, “While delivering this record
performance, we remain committed to investing strategically and
building the business for the long-term. Our goal is to continue to
provide outstanding value to our shareholders while creating
significant opportunities and enhanced capabilities for our
clients, colleagues and communities.”
Financial
HighlightsSeptember 30, 2016 compared to September
30, 2015
- Total assets increased by $50.3 million, or 8%, to $657
million.
- Net loans increased by $55.6 million, or 14%, to $442 million
at September 30, 2016 compared to $387 million at September 30,
2015.
- Total deposits increased by $42.7 million to $581 million at
September 30, 2016.
- Total shareholders’ equity increased by $7.1 million to $48.3
million.
- Nonperforming loans decreased by $1.9 million to $3.1 million
at September 30, 2016 from $5.0 million at September 30, 2015.
- Nonperforming assets decreased by $1.7 million to $5.6 million
at September 30, 2016 from $7.3 million at September 30, 2015.
- The ratio of nonperforming loans to total loans decreased to
0.69% from 1.29% and the ratio of nonperforming assets to total
assets decreased to 0.86% from 1.21%.
- Annualized net charges-offs as a percent of average loans
declined to 0.06% from 0.15%.
Three months ended September 30, 2016
compared to September 30, 2015
- Net income increased by $357 thousand, or 22%, to $2.0
million.
- Diluted earnings per share increased by 7 cents or 22%, to 39
cents.
- Annualized return on average assets increased to 1.23% from
1.08%.
- Annualized return on average equity increased to 16.3% from
15.7%.
- Income before provision for taxes increased by $592 thousand,
or 23%, to $3.2 million.
- Net interest income increased by $596 thousand, or 11%, to $6.1
million.
- Net interest margin increased to 4.20% from 4.08%.
Nine months ended September 30, 2016
compared to September 30, 2015
- Net income increased by $1.2 million, or 29%, to $5.4
million.
- Diluted EPS increased by $0.24, or 29%, to $1.06 from
$0.82.
- Annualized return on average assets increased to 1.18% from
0.99%.
- Annualized return on average equity increased to 15.7% from
14.3%.
- Income before provision for taxes increased by $1.9 million, or
28%, to $8.8 million.
- Net interest income increased by $1.9 million, or 12%, to $17.7
million.
- Net interest margin increased to 4.22% from 4.13%.
Asset Quality
Nonperforming loans at September 30, 2016 were
$3.1 million, a decrease of $1.9 million, or 38%, from the $5.0
million balance at September 30, 2015. Nonperforming loans as a
percentage of total loans decreased to 0.69% at September 30, 2016,
down from 1.29% at September 30, 2015. Nonperforming assets
(which are comprised of nonperforming loans, other real estate
owned (“OREO”) and repossessed vehicle holdings (“OVO”)) at
September 30, 2016 were $5.6 million, down $1.7 million, or 23%,
from $7.3 million at September 30, 2015. Nonperforming assets
as a percentage of total assets decreased to 0.86% at September 30,
2016, down from 1.21% at September 30, 2015.
During the nine months ended September 30, 2016
we recorded a provision for loan losses of $600 thousand, down $300
thousand from the $900 thousand recorded during the same period in
2015. Net charge-offs totaled $201 thousand during the nine months
ended September 30, 2016 and $434 thousand during the same period
in 2015. Annualized net charge-offs as a percentage of average
loans decreased from 0.15% during the nine months ended September
30, 2015 to 0.06% during the current period. The allowance for loan
losses totaled $6.5 million at September 30, 2016 and $5.9 million
at September 30, 2015. The allowance for loan losses as a
percentage of total loans decreased from 1.51% at September 30,
2015 to 1.45% at September 30, 2016.
Loans, Deposits, Investments and Cash
Net loans increased by $55.6 million, or 14%, to
$442 million at September 30, 2016 up from $387 million at
September 30, 2015. The three largest areas of growth in the
Company’s loan portfolio were $32.4 million in commercial real
estate loans, $9.2 million in agricultural loans and $9.0 million
in commercial loans.
Total deposits increased by $42.7 million from
$539 million at September 30, 2015 to $581 million at September 30,
2016. This increase includes growth of $24.9 million in
non-interest bearing demand deposits, $6.4 million in interest
bearing transaction accounts and $16.9 million in money market and
savings accounts. Time deposits declined by $5.5 million to $49.6
million or 9% of total deposits. The Company has no brokered
deposits.
Total investment securities were $100.6 million
at September 30, 2016 and $89.4 million at September 30, 2015. Cash
and due from banks was $77.0 million at September 30, 2016 and
$94.0 million at September 30, 2015.
Shareholders’ Equity
Total shareholders’ equity increased by $7.1
million from $41.2 million at September 30, 2015 to $48.3 million
at September 30, 2016. The $7.1 million increase was related to
earnings during the twelve month period of $7.0 million, an
increase in net unrealized gains on investment securities of $0.7
million and an increase of $0.3 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 $6.1 million for the three months ended September 30,
2016, an increase of $596 thousand, or 11%, from $5.5 million for
the same period in 2015. The increase in net interest income
includes an increase of $587 thousand in interest income and a
decline of $9 thousand in interest expense. The largest
component of the increase in interest income was a $525 thousand
increase in interest and fees on loans related to growth in the
loan portfolio. The reduction in interest expense is related
a reduction in the average balance of the Bancorp’s note payable
from $5 million during the third quarter of 2015 to $2.6 million
during the current quarter. Net interest margin for the
three months ended September 30, 2016 was 4.20% an increase of
twelve basis points from 4.08% during the three months ended
September 30, 2015.
Net interest income, on a nontax-equivalent
basis, for the nine months ended September 30, 2016 was $17.7
million, an increase of $1.9 million from the $15.8 million earned
during the same period in 2015. Driven mostly by an increase in
average loan balances, interest income increased by $1.7 million
while interest expense, which benefited from the payoff of the
Bancorp’s subordinated debenture in April, 2015, declined by $176
thousand. Net interest margin for the nine months ended
September 30, 2016 increased nine basis points to 4.22%, up from
4.13% for the same period in 2015.
Non-Interest Income and Expense
During the three months ended September 30, 2016
non-interest income decreased by $53 thousand to $2.0 million. The
largest component of this decrease was a decrease in gain on sale
of SBA loans of $112 thousand from $617 thousand during the 2015
quarter to $505 thousand during the three months ended September
30, 2016. During the nine months ended September 30, 2016
non-interest income totaled $5.7 million, a decrease of $212
thousand from the nine months ended September 30, 2015. The
largest components of this change were decreases of $194 thousand
in gain on sale of SBA loans, $79 thousand in FHLB dividends and
$53 thousand in loss/gain on sale of securities. The reduction in
FHLB dividends was related to a June 2015 $88 thousand one-time
special dividend from the FHLB.
During the three months ended September 30,
2016, non-interest expense totaled $4.7 million, an increase of $51
thousand from the third quarter of 2015. Increases in excess of $50
thousand include a $77 thousand increase in occupancy and equipment
cost the largest portions of which were related to upgrading
personal computers and costs associated with our new Reno, Nevada
branch, a $67 thousand increase in marketing and related expenses
and a $62 thousand decrease in gain on sale of OREO from a gain of
$62 thousand during the 2015 quarter to no gain or loss during the
current quarter. The largest decreases in non-interest expense were
a $74 thousand reduction in OREO costs and a $70 thousand reduction
in professional fees.
During the nine months ended September 30, 2016
non-interest expense increased by $29 thousand to $14.0
million. Increases in excess of $75 thousand include $104
thousand in marketing expense, $81 thousand in occupancy and
equipment expense and $77 thousand in gain on sale of OREO from a
gain of $73 thousand during the nine months ended September 30,
2015 to a loss of $4 thousand during the current period. The
increase in marketing costs was mostly related to our Reno, Nevada
branch. These items were mostly offset by a $166 thousand
reduction in OREO costs and an $84 thousand reduction in
professional fees. The decrease in OREO costs includes a reduction
in average OREO balances and in the number of OREO properties
owned. In addition, we are leasing out one of our larger OREO
properties and the related rental income on this property
significantly exceeds our costs associated with the property.
The reduction in professional fees mostly relates to a
decline in legal expense related to loan collection
activities.
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 September
30, |
|
|
|
| |
ASSETS |
|
2016 |
|
|
|
2015 |
|
|
Dollar Change |
|
Percentage Change |
|
| |
Cash and due from
banks |
$ |
77,048 |
|
|
$ |
93,964 |
|
|
$ |
(16,916 |
) |
|
|
-18.0 |
% |
|
| |
Investment securities |
|
100,618 |
|
|
|
89,391 |
|
|
|
11,227 |
|
|
|
12.6 |
% |
|
| |
Loans, net of allowance
for loan losses |
|
442,399 |
|
|
|
386,838 |
|
|
|
55,561 |
|
|
|
14.4 |
% |
|
| |
Premises and equipment,
net |
|
11,921 |
|
|
|
12,442 |
|
|
|
(521 |
) |
|
|
-4.2 |
% |
|
| |
Bank owned life
insurance |
|
12,443 |
|
|
|
12,102 |
|
|
|
341 |
|
|
|
2.8 |
% |
|
| |
Real estate acquired
through foreclosure |
|
2,517 |
|
|
|
2,265 |
|
|
|
252 |
|
|
|
11.1 |
% |
|
| |
Accrued interest
receivable and other assets |
|
10,173 |
|
|
|
9,854 |
|
|
|
319 |
|
|
|
3.2 |
% |
|
| |
Total
assets |
$ |
657,119 |
|
|
$ |
606,856 |
|
|
$ |
50,263 |
|
|
|
8.3 |
% |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
LIABILITIES AND |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Deposits |
$ |
581,421 |
|
|
$ |
538,754 |
|
|
$ |
42,667 |
|
|
|
7.9 |
% |
|
| |
Accrued interest payable
and other liabilities |
|
14,582 |
|
|
|
11,584 |
|
|
|
2,998 |
|
|
|
25.9 |
% |
|
| |
Note payable |
|
2,500 |
|
|
|
5,000 |
|
|
|
(2,500 |
) |
|
|
-50.0 |
% |
|
| |
Junior subordinated
deferrable interest debentures |
|
10,310 |
|
|
|
10,310 |
|
|
|
- |
|
|
|
0.0 |
% |
|
| |
Total
liabilities |
|
608,813 |
|
|
|
565,648 |
|
|
|
43,165 |
|
|
|
7.6 |
% |
|
| |
Common stock |
|
5,818 |
|
|
|
6,422 |
|
|
|
(604 |
) |
|
|
-9.4 |
% |
|
| |
Retained earnings |
|
41,429 |
|
|
|
34,415 |
|
|
|
7,014 |
|
|
|
20.4 |
% |
|
| |
Accumulated other
comprehensive income, net |
|
1,059 |
|
|
|
371 |
|
|
|
688 |
|
|
|
185.4 |
% |
|
| |
Shareholders’ equity |
|
48,306 |
|
|
|
41,208 |
|
|
|
7,098 |
|
|
|
17.2 |
% |
|
| |
Total
liabilities and shareholders’ equity |
$ |
657,119 |
|
|
$ |
606,856 |
|
|
$ |
50,263 |
|
|
|
8.3 |
% |
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
PLUMAS BANCORP |
|
| |
CONDENSED CONSOLIDATED STATEMENTS OF
INCOME |
|
| |
(In thousands, except per share data) |
|
| |
(Unaudited) |
|
| |
|
|
|
|
|
|
|
| |
FOR THE THREE MONTHS ENDED
SEPTEMBER 30, |
|
2016 |
|
|
|
2015 |
|
|
Dollar Change |
|
Percentage Change |
|
| |
Interest income |
$ |
6,380 |
|
|
$ |
5,793 |
|
|
$ |
587 |
|
|
|
10.1 |
% |
|
| |
Interest expense |
|
254 |
|
|
|
263 |
|
|
|
(9 |
) |
|
|
-3.4 |
% |
|
| |
Net
interest income before provision for loan losses |
|
6,126 |
|
|
|
5,530 |
|
|
|
596 |
|
|
|
10.8 |
% |
|
| |
Provision for loan
losses |
|
200 |
|
|
|
300 |
|
|
|
(100 |
) |
|
|
-33.3 |
% |
|
| |
Net
interest income after provision for loan losses |
|
5,926 |
|
|
|
5,230 |
|
|
|
696 |
|
|
|
13.3 |
% |
|
| |
Non-interest income |
|
1,993 |
|
|
|
2,046 |
|
|
|
(53 |
) |
|
|
-2.6 |
% |
|
| |
Non-interest expense |
|
4,709 |
|
|
|
4,658 |
|
|
|
51 |
|
|
|
1.1 |
% |
|
| |
Income
before income taxes |
|
3,210 |
|
|
|
2,618 |
|
|
|
592 |
|
|
|
22.6 |
% |
|
| |
Provision for income
taxes |
|
1,253 |
|
|
|
1,018 |
|
|
|
235 |
|
|
|
23.1 |
% |
|
| |
Net
income |
$ |
1,957 |
|
|
$ |
1,600 |
|
|
$ |
357 |
|
|
|
22.3 |
% |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Basic earnings
per share |
$ |
0.40 |
|
|
$ |
0.33 |
|
|
$ |
0.07 |
|
|
|
21.2 |
% |
|
| |
Diluted earnings
per share |
$ |
0.39 |
|
|
$ |
0.32 |
|
|
$ |
0.07 |
|
|
|
21.9 |
% |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
FOR THE NINE MONTHS ENDED
SEPTEMBER 30, |
|
2016 |
|
|
|
2015 |
|
|
Dollar Change |
|
Percentage Change |
|
| |
Interest income |
$ |
18,457 |
|
|
$ |
16,764 |
|
|
$ |
1,693 |
|
|
|
10.1 |
% |
|
| |
Interest expense |
|
763 |
|
|
|
939 |
|
|
|
(176 |
) |
|
|
-18.7 |
% |
|
| |
Net
interest income before provision for loan losses |
|
17,694 |
|
|
|
15,825 |
|
|
|
1,869 |
|
|
|
11.8 |
% |
|
| |
Provision for loan
losses |
|
600 |
|
|
|
900 |
|
|
|
(300 |
) |
|
|
-33.3 |
% |
|
| |
Net
interest income after provision for loan losses |
|
17,094 |
|
|
|
14,925 |
|
|
|
2,169 |
|
|
|
14.5 |
% |
|
| |
Non-interest income |
|
5,701 |
|
|
|
5,913 |
|
|
|
(212 |
) |
|
|
-3.6 |
% |
|
| |
Non-interest expense |
|
14,023 |
|
|
|
13,994 |
|
|
|
29 |
|
|
|
0.2 |
% |
|
| |
Income
before income taxes |
|
8,772 |
|
|
|
6,844 |
|
|
|
1,928 |
|
|
|
28.2 |
% |
|
| |
Provision for income
taxes |
|
3,405 |
|
|
|
2,674 |
|
|
|
731 |
|
|
|
27.3 |
% |
|
| |
Net
income |
$ |
5,367 |
|
|
$ |
4,170 |
|
|
$ |
1,197 |
|
|
|
28.7 |
% |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Basic earnings
per share |
$ |
1.11 |
|
|
$ |
0.87 |
|
|
$ |
0.24 |
|
|
|
27.6 |
% |
|
| |
Diluted earnings
per share |
$ |
1.06 |
|
|
$ |
0.82 |
|
|
$ |
0.24 |
|
|
|
29.3 |
% |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| PLUMAS BANCORP |
|
| SELECTED FINANCIAL INFORMATION |
|
| (Dollars in thousands, except per share
data) |
|
| (Unaudited) |
|
| |
September 30, |
|
| |
|
2016 |
|
|
2015 |
|
| QUARTERLY AVERAGE
BALANCES |
|
|
|
|
| Assets |
$ |
632,710 |
|
$ |
588,438 |
|
| Earning assets |
$ |
580,570 |
|
$ |
537,790 |
|
| Investments |
$ |
99,470 |
|
$ |
89,301 |
|
| Loans |
$ |
437,818 |
|
$ |
392,523 |
|
| Deposits |
$ |
559,383 |
|
$ |
522,303 |
|
| Equity |
$ |
47,732 |
|
$ |
40,364 |
|
| |
|
|
|
|
|
|
| CREDIT QUALITY
DATA |
|
|
|
|
|
|
| Allowance for loan
losses |
$ |
6,477 |
|
$ |
5,917 |
|
| Allowance for loan losses
as a percentage of total loans |
|
1.45 |
% |
|
1.51 |
% |
| Nonperforming loans |
$ |
3,100 |
|
$ |
5,024 |
|
| Nonperforming assets |
$ |
5,639 |
|
$ |
7,342 |
|
| Nonperforming loans as a
percentage of total loans |
|
0.69 |
% |
|
1.29 |
% |
| Nonperforming assets as a
percentage of total assets |
|
0.86 |
% |
|
1.21 |
% |
| Year-to-date net
charge-offs |
$ |
201 |
|
$ |
434 |
|
| Year-to-date net
charge-offs as a percentage of average |
|
|
|
|
|
|
| loans,
annualized |
|
0.06 |
% |
|
0.15 |
% |
| |
|
|
|
|
|
|
| SHARE AND PER
SHARE DATA |
|
|
|
|
|
|
| Basic earnings per share
for the quarter |
$ |
0.40 |
|
$ |
0.33 |
|
| Diluted earnings per share
for the quarter |
$ |
0.39 |
|
$ |
0.32 |
|
| Quarterly weighted average
shares outstanding |
|
4,868 |
|
|
4,824 |
|
| Quarterly weighted average
diluted shares outstanding |
|
5,035 |
|
|
5,067 |
|
| Basic earnings per share,
year-to-date |
$ |
1.11 |
|
$ |
0.87 |
|
| Diluted earnings per
share, year-to-date |
$ |
1.06 |
|
$ |
0.82 |
|
| Year-to-date weighted
average shares outstanding |
|
4,856 |
|
|
4,812 |
|
| Year-to-date weighted
average diluted shares outstanding |
|
5,052 |
|
|
5,061 |
|
| Book value per common
share |
$ |
9.91 |
|
$ |
8.54 |
|
| Total shares
outstanding |
|
4,874 |
|
|
4,828 |
|
| |
|
|
|
|
|
|
| QUARTERLY KEY
FINANCIAL RATIOS |
|
|
|
|
|
|
| Annualized return on
average equity |
|
16.3 |
% |
|
15.7 |
% |
| Annualized return on
average assets |
|
1.23 |
% |
|
1.08 |
% |
| Net interest margin |
|
4.20 |
% |
|
4.08 |
% |
| Efficiency ratio |
|
58.0 |
% |
|
61.5 |
% |
| |
|
|
|
|
|
|
| YEAR-TO-DATE KEY
FINANCIAL RATIOS |
|
|
|
|
|
|
| Annualized return on
average equity |
|
15.7 |
% |
|
14.3 |
% |
| Annualized return on
average assets |
|
1.18 |
% |
|
0.99 |
% |
| Net interest margin |
|
4.22 |
% |
|
4.13 |
% |
| Efficiency ratio |
|
59.9 |
% |
|
64.4 |
% |
| Loan to Deposit Ratio |
|
76.9 |
% |
|
72.5 |
% |
| |
|
|
|
|
|
|
| PLUMAS BANK
CAPITAL RATIOS |
|
|
|
|
|
|
| Tier 1 Leverage Ratio |
|
9.3 |
% |
|
9.3 |
% |
| Common Equity Tier 1 Ratio |
|
12.1 |
% |
|
12.6 |
% |
| Tier 1 Risk-Based Capital Ratio |
|
12.1 |
% |
|
12.6 |
% |
| Total Risk-Based Capital Ratio |
|
13.3 |
% |
|
13.9 |
% |
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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