Plumas Bancorp (Nasdaq:PLBC), the parent company of Plumas Bank,
today announced record earnings during the three and six months
ended June 30, 2017. Earnings during the second quarter of 2017
totaled $2.5 million or $0.51 per share, an increase of $704
thousand from $1.8 million or $0.38 per share during the second
quarter of 2016. The second quarter earnings of $2.5 million
represent the highest level of earnings for any quarter in the
history of Plumas Bancorp (the “Company”). Diluted earnings
per share increased to $0.49 per share during the three months
ended June 30, 2017 from $0.36 per share during the quarter ended
June 30, 2016. For the six months ended June 30, 2017, the Company
reported net income of $4.6 million or $0.93 per share, an increase
of $1.2 million, or 35%, from $3.4 million or 0.70 per share earned
during the six months ended June 30, 2016. Earnings per diluted
share increased to $0.89 during the six months ended June 30, 2017
up $0.22 from $0.67 during the first six months of 2016.
“On behalf of the Board of Directors, I am very
pleased to report excellent results for the second quarter and six
months ended June 30, 2017. Significant highlights include:
record earnings; record levels of assets; loans and deposits; a
4.51% net interest margin for the second quarter; and a 52.8%
efficiency ratio,” commented Andrew J. Ryback, director, president
and chief executive officer of Plumas Bancorp and Plumas
Bank. Ryback continued, “These accomplishments are the result
of strategic investments in both technology for operational
efficiencies as well as platforms to expand our deposit gathering
capabilities, a highly productive and diversified lending
operation, deliberate expense containment, and further building of
our non-interest income streams. Additionally, we continue to
monitor the competitive landscape and look for opportunities for
investment and growth. Our strict attention to both return on
investment and expense control will ensure that we have the
necessary capital to execute our long-term strategic plan and
continue to produce growth and strong returns.”
Ryback added, “On May 15, 2017 we paid a
semi-annual $0.14 per share common stock dividend. This
represents a $0.04 increase from the $0.10 dividend paid on
November 21, 2016 and is reflective of our directors’ desire to
provide cash to shareholders, while at the same time retaining an
appropriate level of capital to fund the Bank’s ongoing
growth.”
Ryback concluded, “I am confident that we will
continue to perform well throughout 2017 and, as always, we
appreciate the support of our shareholders, clients and
personnel.”
Financial Highlights
June 30, 2017 compared to June 30, 2016
- Total assets increased by $86 million, or 14%, to $690
million.
- Gross loans increased by $45 million, or 10%, to $476 million
compared to $431 million.
- Total deposits increased by $81 million, or 15%, to $616
million.
- Total equity increased by $6.5 million to $53 million.
- Book value per share increased by $0.95, or 10%, to $10.50, up
from $9.55.
- A semi-annual common stock dividend of 14 cents per share was
paid on May 15, 2017.
- In April, 2017 the Company paid off its note payable.
- In May, 2017 the Company’s outstanding warrant was exercised in
a cashless exercise resulting in the issuance of 108,111 common
shares.
Asset
Quality
- Net charge-offs totaled $94 thousand or 0.04% as an annualized
percentage of average loans.
- The allowance for loan losses totaled $6.9 million or 1.44% of
ending loans.
- The ratio of nonperforming loans to total loans decreased to
0.61% from 0.69% and the ratio of nonperforming assets to total
assets decreased to 0.54% from 0.96%.
Income Statement
Three months ended June 30, 2017 compared
to June 30, 2016
- Net income increased by $704 thousand or 38%, to $2.5
million.
- Diluted EPS increased by $0.13, or 36%, to $0.49 from
$0.36.
- Net interest income increased by $1 million to $7 million.
- Return on average equity increased to 19.7% from 16.3%.
- Return on average assets increased to 1.54% from 1.23%.
Six months ended June 30, 2017 compared
to June 30, 2016
- Net income increased by $1.2 million or 35%, to $4.6
million.
- Diluted EPS increased by $0.22, or 33%, to $0.89 from
$0.67.
- Net interest income increased by $1.8 million to $13
million.
- Return on average equity increased to 18.3% from 15.3%.
- Return on average assets increased to 1.40% from 1.15%.
Loans, Deposits, Investments and
Cash
Gross loans increased by $44.8 million, or 10%,
from $431 million at June 30, 2016 to $476 million at June 30,
2017. The three largest areas of growth in the Company’s loan
portfolio were $32 million in commercial real estate loans, $8
million in agricultural loans and $6 million in construction loans.
The largest decrease in loans was $5 million in residential real
estate loans.
Total deposits increased by $81.5 million from
$535 million at June 30, 2016 to $616 million at June 30,
2017. This $81.5 million increase includes increases of $48.2
million in non-interest bearing demand deposits, $6.0 million in
interest bearing transaction accounts and $32.0 million in money
market and savings accounts. Time deposits declined by $4.7 million
to $46.4 million or 8% of total deposits. Non-interest bearing
demand deposits totaled 42% of the Bank’s total deposits at June
30, 2017. The Company has no brokered deposits.
Total investment securities increased by $12.9
million from $99.4 million at June 30, 2016 to $112.3 million at
June 30, 2017. Cash and due from banks increased by $27.9 million
from $41.0 million at June 30, 2016 to $68.9 million at June 30,
2017.
Asset Quality
Nonperforming assets (which are comprised of
nonperforming loans, other real estate owned (“OREO”) and
repossessed vehicle holdings) at June 30, 2017 were $3.8 million,
down from $5.8 million at June 30, 2016. Nonperforming assets
as a percentage of total assets decreased to 0.54% at June 30, 2017
down from 0.96% at June 30, 2016. OREO declined by $2 million or
70% from $2.8 million at June 30, 2016 to $844 thousand at June 30,
2017. Nonperforming loans at June 30, 2017 were $2.9 million,
down $58 thousand from $3.0 million at June 30, 2016.
Nonperforming loans as a percentage of total loans decreased to
0.61% at June 30, 2017, down from 0.69% at June 30, 2016.
During the six months ended June 30, 2017 and
2016 we recorded a provision for loan losses of $400 thousand. Net
charge-offs totaled $94 thousand and $48 thousand during the six
months ended June 30, 2017 and 2016, respectively. The allowance
for loan losses totaled $6.9 million at June 30, 2017 and $6.4
million at June 30, 2016. The allowance for loan losses as a
percentage of total loans decreased from 1.49% at June 30, 2016 to
1.44% at June 30, 2017.
Shareholders’ Equity
Total shareholders’ equity increased by $6.5
million from $46.4 million at June 30, 2016 to $52.9 million at
June 30, 2017. The $6.5 million includes earnings during the twelve
month period totaling $8.7 million and stock option activity
totaling $0.4 million. These items were partially offset by a
decrease in net unrealized gains on investment securities of $1.4
million, a $0.10 per share cash dividend, paid in November 2016 and
a $0.14 per share cash dividend paid in May 2017. The two
cash dividends totaled $1.2 million.
In May, 2017 the Company’s outstanding warrant,
which represented the right to purchase 150,000 shares of common
stock at $5.25 per share, was exercised in a cashless exercise
resulting in the issuance of 108,111 common shares.
Net Interest Income and Net Interest Margin
Net interest income, on a nontax-equivalent
basis, was $6.9 million for the three months ended June 30, 2017,
an increase of $1.1 million, or 18%, from $5.8 million for the same
period in 2016. The increase in net interest income includes
an increase of $1 million in interest income; the largest component
of which was an increase in interest and fees on loans of $880
thousand. This increase in interest and fees on loans was related
to an increase in average loan balances of $50.8 million and an
increase in yield on loans of 16 basis points from 5.32% during the
2016 quarter to 5.48% during the current quarter. We attribute this
increase in yield primarily to an increase in the prime interest
rate as well as a decrease in net loan costs of $103 thousand.
Interest expense declined by $3 thousand related to a decline in
the average balance of the Plumas Bancorp’s note payable from $3.2
million during the three months ended June 30, 2016 to $470
thousand during the current quarter. Net interest margin for the
three months ended March 31, 2017 increased 25 basis points to
4.51%, up from 4.26% for the same period in 2016.
Net interest income, on a nontax-equivalent
basis, for the six months ended June 30, 2017 was $13.4 million, an
increase of $1.8 million from the $11.6 million earned during the
same period in 2016. Driven mostly by an increase in average loan
balances, interest income increased by $1.8 million while interest
expense, which benefited from the payoff of the Bancorp’s note
payable in April of 2017, declined by $7 thousand. Net
interest margin for the six months ended June 30, 2017 increased 18
basis points to 4.41%, up from 4.23% for the same period in
2016.
Non-Interest Income/Expense
During the three months ended June 30, 2017,
non-interest income totaled $2.4 million, an increase of $327
thousand from the three months ended June 30, 2016. The largest
component of this increase was a $227 thousand increase in gains on
sale of SBA loans from $559 thousand during the three months ended
June 30, 2016 to $786 thousand during the current quarter. Proceeds
from SBA loan sales totaled $13.1 million during the current
quarter and $9.0 million during the 2016 quarter. Loans
originated for sale totaled $8.5 million during the three months
ended June 30, 2017 and $6.2 million during the three months ended
June 30, 2016.
During the six months ended June 30, 2017,
non-interest income totaled $4.4 million, an increase of $723
thousand from the six months ended June 30, 2016. The largest
component of this increase was a $422 thousand increase in gains on
sale of SBA loans from $892 thousand during the six months ended
June 30, 2016 to $1.3 million during the current period. Proceeds
from SBA loan sales totaled $22.3 million during the current period
and $15.3 million during the six months ended June 30, 2016.
Loans originated for sale totaled $19.7 million during the six
months ended June 30, 2017 and $14.9 million during the six months
ended June 30, 2016. In addition, service charge income
increased by $208 thousand during the comparison period mostly
related to an increase in interchange income on debit card
transactions and an increase in service charges on deposit
accounts.
During the three months ended June 30, 2017,
total non-interest expense increased by $212 thousand, or 5%, to
$4.9 million, up from $4.7 million for the comparable period in
2016. This increase was primarily related to an increase of $306
thousand in salary and benefit expense. Salary expense increased by
$112 thousand to $2.2 million related to additions to staff and
merit and promotion increases. Commission expense related to our
SBA operations increased by $74 thousand consistent with the
increase in SBA activity. During the six months ended June 30,
2017, total non-interest expense increased by $662 thousand to $10
million mostly related to a $625 thousand increase in salary and
benefit expense. The three largest components of the increase were
increases of $255 thousand in salary expense, $139 thousand in
accrued bonus expense and $106 thousand in commissions.
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 four loan production offices: two
located in the California Counties of Placer and Butte, one located
in the Oregon County of Klamath 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 June 30, |
|
|
|
|
|
2017 |
|
|
|
2016 |
|
Dollar Change |
|
Percentage Change |
|
ASSETS |
|
|
|
|
|
|
|
|
Cash and due from
banks |
$ |
68,851 |
|
|
$ |
40,965 |
|
$ |
27,886 |
|
|
68.1 |
% |
|
Investment
securities |
|
112,329 |
|
|
|
99,426 |
|
|
12,903 |
|
|
13.0 |
% |
|
Loans, net of allowance
for loan losses |
|
471,418 |
|
|
|
426,679 |
|
|
44,739 |
|
|
10.5 |
% |
|
Premises and equipment,
net |
|
11,459 |
|
|
|
12,097 |
|
|
(638 |
) |
|
-5.3 |
% |
|
Bank owned life
insurance |
|
12,695 |
|
|
|
12,358 |
|
|
337 |
|
|
2.7 |
% |
|
Real estate acquired
through foreclosure |
|
844 |
|
|
|
2,817 |
|
|
(1,973 |
) |
|
-70.0 |
% |
|
Accrued interest
receivable and other assets |
|
12,292 |
|
|
|
9,700 |
|
|
2,592 |
|
|
26.7 |
% |
|
Total
assets |
$ |
689,888 |
|
|
$ |
604,042 |
|
$ |
85,846 |
|
|
14.2 |
% |
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND |
|
|
|
|
|
|
|
|
SHAREHOLDERS’ EQUITY |
|
|
Deposits |
$ |
616,159 |
|
|
$ |
534,634 |
|
$ |
81,525 |
|
|
15.2 |
% |
|
Accrued interest
payable and other liabilities |
|
10,491 |
|
|
|
10,061 |
|
|
430 |
|
|
4.3 |
% |
|
Note payable |
|
- |
|
|
|
2,625 |
|
|
(2,625 |
) |
|
-100.0 |
% |
|
Junior subordinated
deferrable interest debentures |
|
10,310 |
|
|
|
10,310 |
|
|
- |
|
|
0.0 |
% |
|
Total
liabilities |
|
636,960 |
|
|
|
557,630 |
|
|
79,330 |
|
|
14.2 |
% |
|
Common stock |
|
6,252 |
|
|
|
5,746 |
|
|
506 |
|
|
8.8 |
% |
|
Retained earnings |
|
46,884 |
|
|
|
39,473 |
|
|
7,411 |
|
|
18.8 |
% |
|
Accumulated other
comprehensive (loss) income, net |
|
(208 |
) |
|
|
1,193 |
|
|
(1,401 |
) |
|
-117.4 |
% |
|
Shareholders’ equity |
|
52,928 |
|
|
|
46,412 |
|
|
6,516 |
|
|
14.0 |
% |
|
Total
liabilities and shareholders’ equity |
$ |
689,888 |
|
|
$ |
604,042 |
|
$ |
85,846 |
|
|
14.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PLUMAS BANCORP |
|
CONDENSED CONSOLIDATED STATEMENTS OF
INCOME |
|
(In thousands, except per share data) |
|
(Unaudited) |
|
|
|
|
|
|
|
|
FOR THE THREE MONTHS ENDED JUNE 30, |
|
2017 |
|
|
|
2016 |
|
Dollar Change |
|
Percentage Change |
|
|
|
|
|
|
|
|
|
|
Interest income |
$ |
7,119 |
|
|
$ |
6,077 |
|
$ |
1,042 |
|
|
17.1 |
% |
|
Interest expense |
|
244 |
|
|
|
247 |
|
|
(3 |
) |
|
-1.2 |
% |
|
Net
interest income before provision for loan losses |
|
6,875 |
|
|
|
5,830 |
|
|
1,045 |
|
|
17.9 |
% |
|
Provision for loan
losses |
|
200 |
|
|
|
200 |
|
|
- |
|
|
0.0 |
% |
|
Net
interest income after provision for loan losses |
|
6,675 |
|
|
|
5,630 |
|
|
1,045 |
|
|
18.6 |
% |
|
Non-interest
income |
|
2,382 |
|
|
|
2,055 |
|
|
327 |
|
|
15.9 |
% |
|
Non-interest
expense |
|
4,892 |
|
|
|
4,680 |
|
|
212 |
|
|
4.5 |
% |
|
Income
before income taxes |
|
4,165 |
|
|
|
3,005 |
|
|
1,160 |
|
|
38.6 |
% |
|
Provision for
income taxes |
|
1,624 |
|
|
|
1,168 |
|
|
456 |
|
|
39.0 |
% |
|
Net
income |
$ |
2,541 |
|
|
$ |
1,837 |
|
$ |
704 |
|
|
38.3 |
% |
|
|
|
|
|
|
|
|
|
|
Basic earnings
per share |
$ |
0.51 |
|
|
$ |
0.38 |
|
$ |
0.13 |
|
|
34.2 |
% |
|
Diluted earnings
per share |
$ |
0.49 |
|
|
$ |
0.36 |
|
$ |
0.13 |
|
|
36.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FOR THE SIX MONTHS ENDED JUNE 30, |
|
2017 |
|
|
|
2016 |
|
Dollar Change |
|
Percentage Change |
|
|
|
|
|
|
|
|
|
|
Interest income |
$ |
13,884 |
|
|
$ |
12,077 |
|
$ |
1,807 |
|
|
15.0 |
% |
|
Interest expense |
|
502 |
|
|
|
509 |
|
|
(7 |
) |
|
-1.4 |
% |
|
Net
interest income before provision for loan losses |
|
13,382 |
|
|
|
11,568 |
|
|
1,814 |
|
|
15.7 |
% |
|
Provision for loan
losses |
|
400 |
|
|
|
400 |
|
|
- |
|
|
0.0 |
% |
|
Net
interest income after provision for loan losses |
|
12,982 |
|
|
|
11,168 |
|
|
1,814 |
|
|
16.2 |
% |
|
Non-interest
income |
|
4,430 |
|
|
|
3,707 |
|
|
723 |
|
|
19.5 |
% |
|
Non-interest
expense |
|
9,975 |
|
|
|
9,313 |
|
|
662 |
|
|
7.1 |
% |
|
Income
before income taxes |
|
7,437 |
|
|
|
5,562 |
|
|
1,875 |
|
|
33.7 |
% |
|
Provision for
income taxes |
|
2,832 |
|
|
|
2,152 |
|
|
680 |
|
|
31.6 |
% |
|
Net
income |
$ |
4,605 |
|
|
$ |
3,410 |
|
$ |
1,195 |
|
|
35.0 |
% |
|
|
|
|
|
|
|
|
|
|
Basic earnings
per share |
$ |
0.93 |
|
|
$ |
0.70 |
|
$ |
0.23 |
|
|
32.9 |
% |
|
Diluted earnings
per share |
$ |
0.89 |
|
|
$ |
0.67 |
|
$ |
0.22 |
|
|
32.8 |
% |
|
|
|
|
|
|
|
|
|
|
PLUMAS BANCORP |
SELECTED FINANCIAL INFORMATION |
(Dollars in thousands, except per share
data) |
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Six Months Ended |
|
6/30/2017 |
|
3/31/2017 |
|
6/30/2016 |
|
6/30/2017 |
|
6/30/2016 |
EARNINGS PER SHARE |
|
|
|
|
|
|
|
|
|
Basic earnings per
share |
$ |
0.51 |
|
|
$ |
0.42 |
|
|
$ |
0.38 |
|
|
$ |
0.93 |
|
|
$ |
0.70 |
|
Diluted earnings per
share |
$ |
0.49 |
|
|
$ |
0.40 |
|
|
$ |
0.36 |
|
|
$ |
0.89 |
|
|
$ |
0.67 |
|
Weighted average shares
outstanding |
|
5,001 |
|
|
|
4,911 |
|
|
|
4,857 |
|
|
|
4,956 |
|
|
|
4,849 |
|
Weighted average
diluted shares outstanding |
|
5,180 |
|
|
|
5,164 |
|
|
|
5,047 |
|
|
|
5,173 |
|
|
|
5,057 |
|
Cash dividends paid per
share (1) |
$ |
0.14 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
0.14 |
|
|
$ |
- |
|
|
|
|
|
|
|
|
|
|
|
PERFORMANCE RATIOS (annualized) |
|
|
|
|
|
|
|
|
|
Return on average
assets |
|
1.54 |
% |
|
|
1.26 |
% |
|
|
1.23 |
% |
|
|
1.40 |
% |
|
|
1.15 |
% |
Return on average
equity |
|
19.7 |
% |
|
|
16.9 |
% |
|
|
16.3 |
% |
|
|
18.3 |
% |
|
|
15.3 |
% |
Yield on earning
assets |
|
4.67 |
% |
|
|
4.47 |
% |
|
|
4.44 |
% |
|
|
4.57 |
% |
|
|
4.42 |
% |
Rate paid on
interest-bearing liabilities |
|
0.27 |
% |
|
|
0.28 |
% |
|
|
0.29 |
% |
|
|
0.27 |
% |
|
|
0.30 |
% |
Net interest
margin |
|
4.51 |
% |
|
|
4.30 |
% |
|
|
4.26 |
% |
|
|
4.41 |
% |
|
|
4.23 |
% |
Noninterest income to
average assets |
|
1.44 |
% |
|
|
1.25 |
% |
|
|
1.38 |
% |
|
|
1.35 |
% |
|
|
1.25 |
% |
Noninterest expense to
average assets |
|
2.96 |
% |
|
|
3.10 |
% |
|
|
3.15 |
% |
|
|
3.03 |
% |
|
|
3.13 |
% |
Efficiency ratio |
|
52.8 |
% |
|
|
59.4 |
% |
|
|
59.4 |
% |
|
|
56.0 |
% |
|
|
61.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
6/30/2017 |
|
3/31/2017 |
|
6/30/2016 |
|
12/31/2016 |
|
12/31/2015 |
CREDIT QUALITY RATIOS AND DATA |
|
|
|
|
|
|
|
|
|
Allowance for loan
losses |
$ |
6,855 |
|
|
$ |
6,743 |
|
|
$ |
6,430 |
|
|
$ |
6,549 |
|
|
$ |
6,078 |
|
Allowance for loan
losses as a percentage of total loans |
|
1.44 |
% |
|
|
1.43 |
% |
|
|
1.49 |
% |
|
|
1.42 |
% |
|
|
1.52 |
% |
Nonperforming
loans |
$ |
2,910 |
|
|
$ |
3,107 |
|
|
$ |
2,968 |
|
|
$ |
2,724 |
|
|
$ |
4,546 |
|
Nonperforming
assets |
$ |
3,754 |
|
|
$ |
3,758 |
|
|
$ |
5,796 |
|
|
$ |
3,471 |
|
|
$ |
6,332 |
|
Nonperforming loans as
a percentage of total loans |
|
0.61 |
% |
|
|
0.66 |
% |
|
|
0.69 |
% |
|
|
0.59 |
% |
|
|
1.13 |
% |
Nonperforming assets as
a percentage of total assets |
|
0.54 |
% |
|
|
0.57 |
% |
|
|
0.96 |
% |
|
|
0.53 |
% |
|
|
1.06 |
% |
Year-to-date net
charge-offs |
$ |
94 |
|
|
$ |
6 |
|
|
$ |
48 |
|
|
$ |
329 |
|
|
$ |
473 |
|
Year-to-date net
charge-offs as a percentage of average |
|
|
|
|
|
|
|
|
|
loans
(annualized) |
|
0.04 |
% |
|
|
0.01 |
% |
|
|
0.02 |
% |
|
|
0.08 |
% |
|
|
0.12 |
% |
|
|
|
|
|
|
|
|
|
|
CAPITAL AND OTHER DATA |
|
|
|
|
|
|
|
|
|
Common shares
outstanding at end of period |
|
5,043 |
|
|
|
4,927 |
|
|
|
4,862 |
|
|
|
4,897 |
|
|
|
4,835 |
|
Tangible common
equity |
$ |
52,844 |
|
|
$ |
50,450 |
|
|
$ |
46,321 |
|
|
$ |
47,907 |
|
|
$ |
42,402 |
|
Tangible book value per
common share |
$ |
10.48 |
|
|
$ |
10.24 |
|
|
$ |
9.53 |
|
|
$ |
9.78 |
|
|
$ |
8.77 |
|
Tangible common equity
to total assets |
|
7.7 |
% |
|
|
7.6 |
% |
|
|
7.7 |
% |
|
|
7.3 |
% |
|
|
7.1 |
% |
Gross loans to
deposits |
|
77.3 |
% |
|
|
79.8 |
% |
|
|
80.7 |
% |
|
|
79.2 |
% |
|
|
76.0 |
% |
|
|
|
|
|
|
|
|
|
|
PLUMAS BANK REGULATORY CAPITAL RATIOS |
|
|
|
|
|
|
|
Tier 1 Leverage
Ratio |
|
9.2 |
% |
|
|
9.4 |
% |
|
|
9.5 |
% |
|
|
9.2 |
% |
|
|
9.4 |
% |
Common Equity Tier 1
Ratio |
|
11.8 |
% |
|
|
12.3 |
% |
|
|
12.0 |
% |
|
|
12.1 |
% |
|
|
12.7 |
% |
Tier 1 Risk-Based
Capital Ratio |
|
11.8 |
% |
|
|
12.3 |
% |
|
|
12.0 |
% |
|
|
12.1 |
% |
|
|
12.7 |
% |
Total Risk-Based
Capital Ratio |
|
13.0 |
% |
|
|
13.6 |
% |
|
|
13.3 |
% |
|
|
13.3 |
% |
|
|
14.0 |
% |
|
|
|
|
|
|
|
|
|
|
(1) The
Company paid a semi-annual dividend of 14 cents per share on May
15, 2017 and 10 cents per share on November 21, 2016. |
|
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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