Plumas Bancorp Ranked 2nd Best Performing Community Bank in Nation for Two Consecutive Years
May 12 2020 - 9:00AM
Plumas Bancorp (NASDAQ:PLBC), the holding company (the “Company”)
for Plumas Bank, recently announced that it has again been awarded
the prestigious Raymond James Bankers Cup and named the second best
performing community bank in the nation for the second consecutive
year. Raymond James evaluated 255 community banks on six
financial performance and stability measures. Plumas Bancorp
performed exceptionally well on the various profitability,
operational efficiency and balance sheet metrics. For the
Raymond James award, the Company was compared with publicly traded
banks across the nation with assets between $500 million and $10
billion.
In addition to the Raymond James award, Plumas
Bank was also recognized by the Independent Community Bankers of
America (ICBA) as a top performing community bank. ICBA
recognized Plumas Bank for its focus on efficiency and personal
service that builds strong lasting relationships as well as its
3-year average return on assets metric of 2.56%. For this
award, Plumas Bank was compared nationwide with other community
banks with assets between $300 million and $1 billion.
Director, President and Chief Executive Officer,
Andrew J. Ryback, commented, “We are honored to be recognized as a
nationally top performing community bank. Both the Raymond
James award and the ICBA award indicate that our 2019 performance
has positioned us to weather the current economic challenges
well. As of April 30, 2020, we had funded $60 million in
Paycheck Protection Program (PPP) loan balances. In May we
expect to fund over $50 million in additional PPP loans, helping
close to one thousand different business clients in our
communities. Additionally, we have worked with clients to defer
loan payments on over $90 million in loan balances and donated
$7,500 to our local food pantries. We are confident that we
can continue to support our clients, communities and shareholders
through the current challenges and the recovery.”
About Plumas BankFounded in
1980, Plumas Bank is a locally owned and managed full-service
community bank headquartered in northeastern California. The Bank
operates thirteen branches: eleven located in the northern
California counties of Plumas, Lassen, Placer, Nevada, Modoc and
Shasta and two branches located in the northern Nevada counties of
Washoe and Carson City. The Bank also operates three loan
production offices: two located in the northern California Counties
of Placer and Butte, and one located in the southern Oregon County
of Klamath. 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
Plumas Bank
Vice President, Marketing Manager & Investor Relations Officer
35 S Lindan Avenue
Quincy, CA 95971
530.283.7305 x8912
investorrelations@plumasbank.com
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