Plumas Bancorp (Nasdaq:PLBC), the parent company of Plumas Bank
(the “Bank”), today announced record earnings for the three and
twelve months ended December 31, 2016. Earnings during the fourth
quarter of 2016 totaled $2.1 million an increase of $459 thousand,
or 28%, from $1.6 million during the three months ended December
31, 2015. Earnings per diluted share increased to $0.41 during the
three months ended December 31, 2016 up $0.08 from $0.33 during the
fourth quarter of 2015. For the year ended December 31, 2016,
Plumas Bancorp (the “Company”) reported net income of $7.5 million,
an increase of $1.7 million, or 29%, from $5.8 million during the
year ended December 31, 2015. Earnings per diluted share increased
to $1.47 during the year ended December 31, 2016 up $0.32 from
$1.15 during 2015.
The annualized return on average assets (ROA)
increased to 1.27% for the three months ended December 31, 2016, up
from 1.09% for the three months ended December 31, 2015. The
annualized return on average equity (ROE) increased to 17.2% during
the current quarter up from 15.5% during the fourth quarter of
2015. ROA increased to 1.20% during the year ended December
31, 2016, up from 1.02% during 2015. ROE increased to 16.1%
during 2016 up from 14.6% during the year ended December 31,
2015. Book value per share increased to $9.80 at December 31,
2016 up $1.01 from $8.79 at December 31, 2015.
Andrew J. Ryback, director, president and chief
executive officer of Plumas Bancorp and Plumas Bank, remarked, “The
Board of Directors, executives and I are pleased to report record
earnings for 2016. Net income increased to $7.5 million in
2016, up over $1.7 million from 2015. We also ended 2016 at
an all-time high in terms of loan and deposit balances. But
before I comment further on our financial performance, I would like
to recognize and thank two of our bank board directors, Alvin G.
Blickenstaff and Arthur C. Grohs, who retired after 28 years of
service to the Company. Their retirement was required by the
age-based retirement policy in the Company’s Corporate Governance
Guidelines and was effective December 31, 2016. Their
insight, knowledge and business acumen have been instrumental in
the Bank’s success. They will be greatly missed and we wish
them all the best.”
Ryback further stated, “Throughout 2016, our net
interest margin continued to benefit from our growing and
diversified loan portfolio. Last spring we expanded into
Oregon by opening a Commercial/Agriculture loan production office
in Klamath Falls. This office has contributed substantial
growth to our Agricultural loan portfolio. Furthermore, just
13 months ago we expanded into Reno, Nevada with a new,
full-service branch which has exceeded our expectations in both
deposit and loan growth.
We continue to improve asset quality as well as
to focus on ongoing proactive expense management. These efforts
have resulted in significantly improved financial performance and
solid capital position. Because of this, the Board and I were
extremely pleased to be able to reinstate a semi-annual cash
dividend to our shareholders last November.”
Ryback concluded, “2016 was an excellent year
for Plumas Bancorp. We made very good progress against our
strategic agenda, delivering strong financial performance while
positioning the Bank for success over the longer term. Moving
forward we expect to benefit from an increasing rate environment
because of our strong core deposit base and exceptionally low cost
of funds. We have a sound, diversified balance sheet, a solid
capital base and a tremendous team dedicated to our success and to
the success of our clients and shareholders. As we enter into
2017, our 37th year of operation, we are well positioned to meet
the challenges and benefit from the opportunities that the future
holds.”
Financial
HighlightsDecember 31, 2016 compared to December
31, 2015Balance Sheet
- Total assets increased by $58.7 million, or 10%, to $658
million.
- Gross loans increased by $60.2 million, or 15%, to $461 million
at December 31, 2016 compared to $401 million at December 31,
2015.
- Total deposits increased by $55.1 million, or 10%, to $582
million at December 31, 2016.
- Note payable decreased by $2.5 million to $2.4 million at
December 31, 2016.
- Total equity increased by $5.5 million to $48 million.
- Book value per share increased by $1.01, or 11%, to $9.80 at
December 31, 2016, up from $8.79 at December 31, 2015.
Asset Quality
- Net charge-offs decreased by $144 thousand, or 30%, to $329
thousand from $473 thousand.
- Net charges-offs as a percent of average loans declined to
0.08% from 0.12%.
- The ratio of nonperforming loans to total loans decreased to
0.59% from 1.13% and the ratio of nonperforming assets to total
assets decreased to 0.53% from 1.06%.
Income Statement
Three months ended December 31, 2016
compared to December 31, 2015
- Net income increased by $459 thousand or 28%, to $2.1 million
and diluted EPS increased by $0.08, or 24%, to $0.41 from
$0.33.
- Net interest income increased by $798 thousand to $6.4
million.
- Return on average equity increased to 17.2% from 15.5%.
- Return on average assets increased to 1.27% from 1.09%.
Year ended December 31, 2016 compared to
December 31, 2015
- Net income increased by $1.7 million, or 29%, to $7.5 million
and diluted EPS increased by $0.32, or 28%, to $1.47 from
$1.15.
- Net interest income increased by $2.7 million to $24.1
million.
- The provision for loan losses decreased by $300 thousand to
$800 thousand.
- Return on average equity increased to 16.1% from 14.6%.
- Return on average assets increased to 1.20% from 1.02%.
- The Company’s efficiency ratio improved to 58.9% from
63.5%.
Loans, Deposits, Investments and
Cash
Loans increased by $60.2 million, or 15%, from
$401 million at December 31, 2015 to $461 million at December 31,
2016. The increase in loan balances includes $34.0 million in
commercial real estate loans, $11.3 million in agricultural loans,
$5.7 million in construction and land development loans, $5.2
million in automobile loans, $4.2 million in commercial loans, and
$4.0 million in equity lines of credit. These increases were
partially offset by a decline of $4.2 million in residential real
estate loans. In 2016 we hired a new agricultural/commercial loan
officer located in Klamath Falls, Oregon. The increase in
agricultural loans during 2016 is largely related to his efforts.
Loan growth also benefited from the opening of our branch in Reno,
Nevada during December, 2015. Loan growth related to this
branch exceeded $11 million in 2016.
Total deposits increased by $55.1 million from
$527 million at December 31, 2015 to $582 million at December 31,
2016. Core deposit growth remained strong in 2016 as
evidenced by increases of $27.7 million in demand deposits, $21.6
million in savings accounts, $8.4 million in money market accounts
and $0.1 million in interest bearing transaction accounts.
Time deposits declined by $2.7 million, much of which we attribute
to migration into other types of deposits given the low rates and
lack of liquidity associated with time deposits. The Company has no
brokered deposits.
Total investment securities increased by $4.9
million to $101.6 million at December 31, 2016, up from $96.7
million at December 31, 2015. The largest component of this
increase was a $4.3 million increase in obligations of states and
political subdivisions.
Cash and due from banks decreased by $5.6
million from $68.2 million at December 31, 2015 to $62.6 million at
December 31, 2016.
Plumas Bancorp’s outstanding note payable
decreased by $2.5 million from $4.9 million at December 31, 2015 to
$2.4 million at December 31, 2016.
Asset Quality
Nonperforming assets (which are comprised of
nonperforming loans, other real estate owned (“OREO”) and
repossessed vehicle holdings) at December 31, 2016 were $3.5
million, down from $6.3 million at December 31, 2015.
Nonperforming assets as a percentage of total assets
decreased by half to 0.53% at December 31, 2016 down from 1.06% at
December 31, 2015. OREO declined by $1 million, or 58%, to $0.7
million at December 31, 2016. Nonperforming loans at December
31, 2016 were $2.7 million, a decrease of $1.8 million, or 40%,
from the $4.5 million balance at December 31, 2015.
Nonperforming loans as a percentage of total loans decreased to
0.59% at December 31, 2016, down from 1.13% at December 31,
2015.
During the year ended December 31, 2016 we
recorded a provision for loan losses of $800 thousand down $300
thousand from a provision of $1.1 million during the year ended
December 31, 2015. Net charge-offs totaled $329 thousand
during the twelve months ended December 31, 2016 and $473 thousand
during the same period in 2015. Net charge-offs as a percentage of
average loans decreased from 0.12% during 2015 to 0.08% during the
year ended December 31, 2016. The allowance for loan losses totaled
$6.5 million at December 31, 2016 and $6.1 million at December 31,
2015. The allowance for loan losses as a percentage of total loans
decreased from 1.52% at December 31, 2015 to 1.42% at December 31,
2016.
Shareholders’ Equity
Total shareholders’ equity increased by $5.5
million from $42.5 million at December 31, 2015 to $48.0 million at
December 31, 2016. The $5.5 million increase was related to
earnings during 2016 of $7.5 million and an increase of $305
thousand representing stock option activity. These items were
partially offset by a decrease in net unrealized gains on
investment securities of $930 thousand, a $0.10 per share cash
dividend totaling $489 thousand and 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 $862
thousand. 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 $24.1 million for the year ended December 31, 2016, up
$2.7 million, or 12%, from $21.4 million during 2015. Related
mostly to an increase in average loan balances, interest income
increased by $2.5 million, or 11%, from $22.6 million during 2015
to $25.1 million during the current year. Interest expense
declined by $181 thousand related to the redemption of the
Company’s $7.5 million subordinated debenture. Net interest margin
is net interest income expressed as a percentage of average
interest-earning assets. As a result of the changes noted
above, the net interest margin for 2016 increased to 4.21%, up from
4.10% during 2015.
Net interest income, on a nontax-equivalent
basis, for the three months ended December 31, 2016 was $6.4
million, an increase of $798 thousand from the $5.6 million earned
during the same period in 2015. Similar to the twelve month
comparison, the largest component of the increase in net interest
income was an increase in average loan balances. Interest expense
declined from $265 thousand during the three months ended December
31, 2015 to $260 thousand during the quarter ended December 31,
2016 related to the pay down of the Bancorp’s note payable. Net
interest margin for the three months ended December 31, 2016
increased to 4.18%, up from 4.03% during the fourth quarter of
2015.
Non-Interest Income/Expense
During the years ended December 31, 2016 and
December 31, 2015 non-interest income totaled $7.7 million. A
decrease of $172 thousand in gains on sale of government guaranteed
loans from $1.9 million during 2015 to $1.8 million during 2016 was
offset by increases in service charge income of $77 thousand and
loan servicing income of $80 thousand. During 2016 the Company
recorded a loss on sale of securities of $32 thousand compared to a
gain on sale of $21 thousand during 2015.
During the three months ended December 31, 2016
non-interest income totaled $2.0 million, an increase of $149
thousand from the three months ended December 31, 2015. This
increase mostly relates to increases in service charge income and
dividends from the Federal Home Loan Bank of San Francisco.
Non-interest expense increased by $205 thousand,
or 1.1%, to $18.7 million during the twelve months ended December
31, 2016, up from $18.5 million during 2015. Non-interest
expense totaled $4.7 million during the three months ended December
31, 2016 an increase of $177 thousand from the fourth quarter of
2015. The largest component of these increases in
non-interest expense were increases in salary and benefit expense
of $163 thousand during the year ended December 31, 2016 and $178
thousand during the quarter ended December 31, 2016.
Founded in 1980, Plumas Bank is a locally owned
and managed full-service community bank headquartered 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 December 31, |
|
|
|
|
|
2016 |
|
|
|
2015 |
|
|
Dollar Change |
|
Percentage Change |
|
ASSETS |
|
|
|
|
|
|
|
|
Cash and due from
banks |
$ |
62,646 |
|
|
$ |
68,195 |
|
|
$ |
(5,549 |
) |
|
-8.1 |
% |
|
Investment
securities |
|
101,595 |
|
|
|
96,704 |
|
|
|
4,891 |
|
|
5.1 |
% |
|
Loans, net of allowance
for loan losses |
|
456,580 |
|
|
|
396,833 |
|
|
|
59,747 |
|
|
15.1 |
% |
|
Premises and equipment,
net |
|
11,768 |
|
|
|
12,234 |
|
|
|
(466 |
) |
|
-3.8 |
% |
|
Bank owned life
insurance |
|
12,529 |
|
|
|
12,187 |
|
|
|
342 |
|
|
2.8 |
% |
|
Real estate acquired
through foreclosure |
|
735 |
|
|
|
1,756 |
|
|
|
(1,021 |
) |
|
-58.1 |
% |
|
Accrued interest
receivable and other assets |
|
12,122 |
|
|
|
11,377 |
|
|
|
745 |
|
|
6.5 |
% |
|
Total
assets |
$ |
657,975 |
|
|
$ |
599,286 |
|
|
$ |
58,689 |
|
|
9.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits |
$ |
582,353 |
|
|
$ |
527,276 |
|
|
$ |
55,077 |
|
|
10.4 |
% |
|
Repurchase
agreements |
|
7,547 |
|
|
|
7,671 |
|
|
|
(124 |
) |
|
-1.6 |
% |
|
Accrued interest
payable and other liabilities |
|
7,396 |
|
|
|
6,658 |
|
|
|
738 |
|
|
11.1 |
% |
|
Note payable |
|
2,375 |
|
|
|
4,875 |
|
|
|
(2,500 |
) |
|
-51.3 |
% |
|
Junior subordinated
deferrable interest debentures |
|
10,310 |
|
|
|
10,310 |
|
|
|
- |
|
|
0.0 |
% |
|
Total
liabilities |
|
609,981 |
|
|
|
556,790 |
|
|
|
53,191 |
|
|
9.6 |
% |
|
Common stock |
|
5,918 |
|
|
|
6,475 |
|
|
|
(557 |
) |
|
-8.6 |
% |
|
Retained earnings |
|
43,048 |
|
|
|
36,063 |
|
|
|
6,985 |
|
|
19.4 |
% |
|
Accumulated other
comprehensive loss |
|
(972 |
) |
|
|
(42 |
) |
|
|
(930 |
) |
|
2214.3 |
% |
|
Shareholders’ equity |
|
47,994 |
|
|
|
42,496 |
|
|
|
5,498 |
|
|
12.9 |
% |
|
Total
liabilities and shareholders’ equity |
$ |
657,975 |
|
|
$ |
599,286 |
|
|
$ |
58,689 |
|
|
9.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PLUMAS BANCORP |
|
CONDENSED CONSOLIDATED STATEMENTS OF
INCOME |
|
(In thousands, except per share data) |
|
(Unaudited) |
|
|
|
|
|
|
|
|
FOR THE THREE MONTHS ENDED DECEMBER 31, |
|
2016 |
|
|
|
2015 |
|
|
Dollar Change |
|
Percentage Change |
|
|
|
|
|
|
|
|
|
|
Interest income |
$ |
6,644 |
|
|
$ |
5,851 |
|
|
$ |
793 |
|
|
13.6 |
% |
|
Interest expense |
|
260 |
|
|
|
265 |
|
|
|
(5 |
) |
|
-1.9 |
% |
|
Net
interest income before provision for loan losses |
|
6,384 |
|
|
|
5,586 |
|
|
|
798 |
|
|
14.3 |
% |
|
Provision for loan
losses |
|
200 |
|
|
|
200 |
|
|
|
- |
|
|
0.0 |
% |
|
Net
interest income after provision for loan losses |
|
6,184 |
|
|
|
5,386 |
|
|
|
798 |
|
|
14.8 |
% |
|
Non-interest
income |
|
1,951 |
|
|
|
1,802 |
|
|
|
149 |
|
|
8.3 |
% |
|
Non-interest
expenses |
|
4,674 |
|
|
|
4,497 |
|
|
|
177 |
|
|
3.9 |
% |
|
Income
before income taxes |
|
3,461 |
|
|
|
2,691 |
|
|
|
770 |
|
|
28.6 |
% |
|
Provision for
income taxes |
|
1,354 |
|
|
|
1,043 |
|
|
|
311 |
|
|
29.8 |
% |
|
Net
income |
$ |
2,107 |
|
|
$ |
1,648 |
|
|
$ |
459 |
|
|
27.9 |
% |
|
|
|
|
|
|
|
|
|
|
Basic earnings
per share |
$ |
0.43 |
|
|
$ |
0.34 |
|
|
$ |
0.09 |
|
|
26.5 |
% |
|
Diluted earnings
per share |
$ |
0.41 |
|
|
$ |
0.33 |
|
|
$ |
0.08 |
|
|
24.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FOR THE YEAR ENDED DECEMBER 31, |
|
2016 |
|
|
|
2015 |
|
|
Dollar Change |
|
Percentage Change |
|
|
|
|
|
|
|
|
|
|
Interest income |
$ |
25,100 |
|
|
$ |
22,615 |
|
|
$ |
2,485 |
|
|
11.0 |
% |
|
Interest expense |
|
1,023 |
|
|
|
1,204 |
|
|
|
(181 |
) |
|
-15.0 |
% |
|
Net
interest income before provision for loan losses |
|
24,077 |
|
|
|
21,411 |
|
|
|
2,666 |
|
|
12.5 |
% |
|
Provision for loan
losses |
|
800 |
|
|
|
1,100 |
|
|
|
(300 |
) |
|
-27.3 |
% |
|
Net
interest income after provision for loan losses |
|
23,277 |
|
|
|
20,311 |
|
|
|
2,966 |
|
|
14.6 |
% |
|
Non-interest
income |
|
7,652 |
|
|
|
7,715 |
|
|
|
(63 |
) |
|
-0.8 |
% |
|
Non-interest
expenses |
|
18,696 |
|
|
|
18,491 |
|
|
|
205 |
|
|
1.1 |
% |
|
Income
before income taxes |
|
12,233 |
|
|
|
9,535 |
|
|
|
2,698 |
|
|
28.3 |
% |
|
Provision for income
taxes |
|
4,759 |
|
|
|
3,717 |
|
|
|
1,042 |
|
|
28.0 |
% |
|
Net income |
$ |
7,474 |
|
|
$ |
5,818 |
|
|
$ |
1,656 |
|
|
28.5 |
% |
|
|
|
|
|
|
|
|
|
|
Basic earnings
per share |
$ |
1.54 |
|
|
$ |
1.21 |
|
|
$ |
0.33 |
|
|
27.3 |
% |
|
Diluted earnings
per share |
$ |
1.47 |
|
|
$ |
1.15 |
|
|
$ |
0.32 |
|
|
27.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PLUMAS BANCORP |
|
|
SELECTED FINANCIAL INFORMATION |
|
|
(In thousands, except per share data) |
|
|
(Unaudited) |
|
|
|
|
|
|
|
December
31, |
|
|
|
|
|
|
2016 |
|
|
|
2015 |
|
|
|
|
|
AVERAGE
BALANCES FOR THE YEAR ENDED |
|
|
|
|
|
|
|
Assets |
$ |
622,229 |
|
|
$ |
571,990 |
|
|
|
|
|
Earning assets |
$ |
571,912 |
|
|
$ |
521,681 |
|
|
|
|
|
|
Loans |
$ |
428,380 |
|
|
$ |
386,070 |
|
|
|
|
|
Deposits |
$ |
549,416 |
|
|
$ |
503,343 |
|
|
|
|
|
|
Total equity |
$ |
46,488 |
|
|
$ |
39,844 |
|
|
|
|
|
|
|
|
|
CREDIT QUALITY
DATA |
|
|
|
|
|
|
|
Allowance for loan
losses |
$ |
6,549 |
|
|
$ |
6,078 |
|
|
|
|
|
|
|
|
Allowance for loan
losses as a percentage of total loans |
|
1.42 |
% |
|
|
|
1.52 |
% |
|
|
|
|
|
|
|
|
Nonperforming
loans |
$ |
2,724 |
|
|
$ |
4,546 |
|
|
|
|
|
|
|
|
Nonperforming
assets |
$ |
3,471 |
|
|
$ |
6,332 |
|
|
|
|
|
|
|
|
Nonperforming loans as
a percentage of total loans |
|
0.59 |
% |
|
|
|
1.13 |
% |
|
|
|
|
|
|
|
|
Nonperforming assets as
a percentage of total assets |
|
0.53 |
% |
|
|
|
1.06 |
% |
|
|
|
|
|
|
|
|
Year-to-date net
charge-offs |
$ |
329 |
|
|
|
$ |
473 |
|
|
|
|
|
|
|
|
Year-to-date net
charge-offs as a percentage of average |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
loans |
|
0.08 |
% |
|
|
|
0.12 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SHARE AND PER
SHARE DATA |
|
|
|
|
|
|
|
|
Basic earnings
per share for the quarter |
$ |
0.43 |
|
|
$ |
0.34 |
|
|
|
|
|
|
Diluted earnings per
share for the quarter |
$ |
0.41 |
|
|
$ |
0.33 |
|
|
|
|
|
|
Quarterly weighted
average shares outstanding |
|
4,887 |
|
|
|
4,831 |
|
|
|
|
|
|
Quarterly weighted
average diluted shares outstanding |
|
5,115 |
|
|
|
5,055 |
|
|
|
|
|
|
Basic earnings
per share, year-to-date |
$ |
1.54 |
|
|
$ |
1.21 |
|
|
|
|
|
|
Diluted earnings
per share, year-to-date |
$ |
1.47 |
|
|
$ |
1.15 |
|
|
|
|
|
|
Year-to-date weighted
average shares outstanding |
|
4,864 |
|
|
|
4,817 |
|
|
|
|
|
|
Year-to-date weighted
average diluted shares outstanding |
|
5,098 |
|
|
|
5,058 |
|
|
|
|
|
|
Book value per common
share |
$ |
9.80 |
|
|
$ |
8.79 |
|
|
|
|
|
|
Total shares
outstanding |
|
4,897 |
|
|
|
4,835 |
|
|
|
|
|
|
|
|
|
|
|
|
QUARTERLY KEY
FINANCIAL RATIOS |
|
|
|
|
|
|
Annualized return
on average equity |
|
17.2 |
% |
|
|
|
15.5 |
% |
|
|
|
|
|
Annualized return
on average assets |
|
1.27 |
% |
|
|
|
1.09 |
% |
|
|
|
|
|
Net interest
margin |
|
4.18 |
% |
|
|
|
4.03 |
% |
|
|
|
|
|
Efficiency ratio |
|
56.1 |
% |
|
|
|
60.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
YEAR END KEY
FINANCIAL RATIOS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on
average equity |
|
16.1 |
% |
|
|
|
14.6 |
% |
|
|
|
|
|
Return on average
assets |
|
1.20 |
% |
|
|
|
1.02 |
% |
|
|
|
|
|
Net interest
margin |
|
4.21 |
% |
|
|
|
4.10 |
% |
|
|
|
|
|
Efficiency ratio |
|
58.9 |
% |
|
|
|
63.5 |
% |
|
|
|
|
|
Loan to Deposit
Ratio |
|
79.2 |
% |
|
|
|
76.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PLUMAS BANK
CAPITAL RATIOS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Tier 1 Leverage
Ratio |
|
9.2 |
% |
|
|
9.4 |
% |
|
|
|
|
Common Equity Tier 1
Ratio |
|
12.1 |
% |
|
|
12.7 |
% |
|
|
|
|
Tier 1 Risk-Based
Capital Ratio |
|
12.1 |
% |
|
|
12.7 |
% |
|
|
|
|
Total Risk-Based
Capital Ratio |
|
13.3 |
% |
|
|
14.0 |
% |
|
|
|
|
Contact: Elizabeth Kuipers
Vice President, Marketing Manager & Investor Relations Officer
Plumas Bank
35 S. Lindan Avenue
Quincy, CA 95971
530.283.7305 ext.8912
investorrelations@plumasbank.com
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