Plumas Bancorp Reinstates Semi-Annual Cash Dividend
October 20 2016 - 9:00AM
Plumas Bancorp (Nasdaq:PLBC), the parent company of Plumas Bank
(the “Bank”), today announced that its Board of Directors has
approved the reinstatement of a semi-annual cash dividend. The
dividend in the amount of $0.10 per share will be payable on
November 21, 2016 to shareholders of record at the close of
business day on November 7, 2016.
Director, President and Chief Executive Officer
of Plumas Bancorp and Plumas Bank, Andrew J. Ryback, stated, "We
are very pleased to reinstate a semi-annual cash dividend which
reflects our significantly improved financial performance and solid
capital position.” Ryback further added, “Over the last several
years our plan has been to grow and retain our profits so that we
could pay down the debt we incurred during the recession. The
focus of our Board and of management, as well as the hard work of
our staff, has allowed us to do just that. Because of the
successful execution of our plan, we are now able to reinstate a
cash dividend to our shareholders.”
Chairman of the Board, Daniel E. West,
commented, “The reinstatement of a cash dividend to our
shareholders is a testament to the strength of the core activities
and financial performance of the Bank. I would like to thank all
the directors, executives and the entire Plumas Bank team for their
commitment, focus and efforts.”
About Plumas Bank:
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.
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
Plumas Bancorp (NASDAQ:PLBC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Plumas Bancorp (NASDAQ:PLBC)
Historical Stock Chart
From Sep 2023 to Sep 2024