Plumas Bancorp (Nasdaq:PLBC), the parent company of Plumas Bank,
today announced record earnings during the three and six months
ended June 30, 2018. Earnings during the second quarter of 2018
totaled $3.4 million or $0.67 per share, an increase of $904
thousand from $2.5 million or $0.51 per share during the second
quarter of 2017. The second quarter earnings of $3.4 million
represent the highest level of earnings for any quarter in the
history of Plumas Bancorp (the “Company”). Diluted earnings
per share increased to $0.66 per share during the three months
ended June 30, 2018 from $0.49 per share during the quarter ended
June 30, 2017. For the six months ended June 30, 2018, the Company
reported record net income of $6.7 million or $1.32 per share, an
increase of $2.1 million, or 46%, from $4.6 million or $0.93 per
share earned during the six months ended June 30, 2017. Earnings
per diluted share increased to $1.29 during the six months ended
June 30, 2018 up $0.40 from $0.89 during the first six months of
2017.
“On behalf of the Board of Directors, I am very
pleased to report record results for the second quarter and six
months ended June 30, 2018. The strength of our 2018 performance
reflects strong growth in both our loan and deposit portfolios as
well as in net interest margin. In addition, our asset
quality is strong and we remain focused on controlling overhead
costs. We are very encouraged by the improvement in all of our
return and performance metrics both quarter over quarter as well as
year over year,” stated Director, President and Chief Executive
Officer, Andrew J. Ryback.
Ryback continued, “The vision and strength of
our Board and executive team is what drives our success. We
continue to monitor the competitive landscape and make strategic
investments in our business that are well aligned with the
interests of our shareholders, employees, clients and communities.
First, for our shareholders, we paid a record level semi-annual
$0.18 per share common stock dividend in May. Next, for our
employees, we increased the Company’s minimum wage to $15 per hour
to help in our effort of recruiting and retaining the most talented
and hardworking staff at all levels. For our clients, we’ve
announced that we intend to expand our footprint into Carson City,
Nevada by acquiring the Carson City branch of Mutual of Omaha Bank,
pending regulatory approval. We’ve also hired two experienced
commercial/agricultural lending professionals who will be
tremendous assets to our clients. One loan officer will serve
the Carson City/ Sierra region area and the other will serve the
Red Bluff/Tehama County area. Finally, for our communities,
we continue to give back in creative ways that engage our local
citizens. In fact, we are proud to share that in the past year,
Plumas Bank has provided over $100 thousand in cash contributions
to community fund-raising activities and our employees have spent
more than 1,660 volunteer hours reaching out to over 50
organizations within our communities. As we move forward, we will
continue to look for novel and inspiring ways to demonstrate to our
clients, communities, employees and shareholders that Plumas Bank
is HERE. For Good.”
Financial Highlights
June 30, 2018 compared to June 30,
2017
- Total assets increased by $75
million, or 11%, to a record level of $765 million.
- Gross loans increased by $40
million, or 8%, to a record level of $516 million.
- Total deposits increased by $63
million, or 10%, to a record level of $679 million.
- Total equity increased by $6.6
million to $59 million.
- Book value per share increased by
$1.12, or 11%, to $11.62, up from $10.50.
- Tangible common equity to total
assets increased to 7.8%.
- Semi-annual common stock dividend
increased by 4 cents, or 29%, to a record level of 18 cents per
share.
Income Statement
Three months ended June 30, 2018 compared
to June 30, 2017
- Net income increased by $904
thousand or 36%, to $3.4 million.
- Diluted EPS increased by $0.17, or
35%, to $0.66 from $0.49.
- Net interest income increased by
$1.1 million to $8 million.
- Return on average equity increased
to 23.7% from 19.7%.
- Return on average assets increased
to 1.87% from 1.54%.
Six months ended June 30, 2018 compared
to June 30, 2017
- Net income increased by $2.1
million or 46%, to $6.7 million.
- Diluted EPS increased by $0.40, or
45%, to $1.29 from $0.89.
- Net interest income increased by
$2.2 million to $15.6 million.
- Return on average equity increased
to 23.6% from 18.3%.
- Return on average assets increased
to 1.85% from 1.40%.
Loans, Deposits, Investments and
Cash
Gross loans increased by $39.7 million, or 8%,
from $476 million at June 30, 2017 to $516 million at June 30,
2018. The four largest areas of growth in the Company’s loan
portfolio were $15 million in commercial real estate loans, $12
million in auto loans, $10 million in commercial loans and $9
million in agricultural loans. The largest decrease in loans was $4
million in residential real estate loans.
Total deposits increased by $62.9 million from
$616 million at June 30, 2017 to $679 million at June 30,
2018. This $62.9 million increase includes increases of $29.6
million in non-interest bearing demand deposits, $7.7 million in
interest bearing transaction accounts and $30.9 million in money
market and savings accounts. Time deposits declined by $5.3 million
to $41.2 million or 7% of total deposits. Non-interest bearing
demand deposits totaled 42% of the Bank’s total deposits at June
30, 2018. The Company has no brokered deposits.
Total investment securities increased by $45.5
million from $112.3 million at June 30, 2017 to $157.8 million at
June 30, 2018. Cash and due from banks decreased by $16.2 million
from $68.9 million at June 30, 2017 to $52.7 million at June 30,
2017 as excess cash was utilized to purchase additional investment
securities.
Asset Quality
The Bank continues to see improvements in asset
quality; nonperforming assets (which are comprised of nonperforming
loans, other real estate owned (“OREO”) and repossessed vehicle
holdings) at June 30, 2018 totaled $1.9 million, down from $3.8
million at June 30, 2017. Nonperforming assets as a
percentage of total assets decreased to 0.24% at June 30, 2018 down
from 0.54% at June 30, 2017. OREO totaled $953 thousand at June 30,
2018 and $844 thousand at June 30, 2017. Nonperforming loans
at June 30, 2018 were $0.9 million, down $2 million from $2.9
million at June 30, 2017. Nonperforming loans as a percentage
of total loans decreased to 0.17% at June 30, 2018, down from 0.61%
at June 30, 2017.
During the six months ended June 30, 2018 and
2017 we recorded a provision for loan losses of $500 thousand and
$400 thousand, respectively. Net charge-offs totaled $471 thousand
and $94 thousand during the six months ended June 30, 2018 and
2017, respectively. The increase in net charge-offs is mostly
related to a charge-off on a commercial loan in which the borrower
filed bankruptcy and an increase in charge-offs on automobile
loans. The allowance for loan losses totaled $6.7 million at June
30, 2018 and $6.9 million at June 30, 2017. The decline in the
allowance was related to a decline in specific reserves on impaired
loans of $399 thousand from $480 thousand at June 30, 2017 to $81
thousand at June 30, 2018. The allowance for loan losses as a
percentage of total loans decreased from 1.44% at June 30, 2017 to
1.30% at June 30, 2018.
Shareholders’ Equity
Total shareholders’ equity increased by $6.6
million from $52.9 million at June 30, 2017 to $59.5 million at
June 30, 2018. The $6.6 million includes earnings during the
twelve-month period totaling $10.3 million and stock option
activity totaling $0.6 million. These items were partially offset
by an increase in net unrealized losses on investment securities of
$2.7 million, a $0.18 per share cash dividend, paid in May 2018 and
a $0.14 per share cash dividend paid in November 2017. The
two cash dividends totaled $1.6 million.
Net Interest Income and Net Interest Margin
Net interest income was $8.0 million for the
three months ended June 30, 2018, an increase of $1.1 million, or
17%, from $6.9 million for the same period in 2017. The
increase in net interest income includes an increase of $1.2
million in interest income; the largest component of which was an
increase in interest and fees on loans of $876 thousand. This
increase in interest and fees on loans was related to an increase
in average loan balances of $30.9 million and an increase in yield
on loans of 29 basis points from 5.48% during the 2017 quarter to
5.77% 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 $70 thousand. Interest expense
increased by $37 thousand mostly related to an increase in the
average rate paid on Junior Subordinated Debentures from 3.85%
during the 2017 quarter to 4.94% during the current quarter. Net
interest margin for the three months ended June 30, 2018 increased
24 basis points to 4.75%, up from 4.51% for the same period in
2017.
Net interest income for the six months ended
June 30, 2018 was $15.6 million, an increase of $2.2 million from
the $13.4 million earned during the same period in 2017. During the
six months ended June 30, 2018 the Bank benefited from increases in
the average balance of loans and investments securities as well as
an increase in yield on both assets. Interest income increased by
$2.2 million while interest expense increased by $44 thousand. Net
interest margin for the six months ended June 30, 2018 increased 22
basis points to 4.63%, up from 4.41% for the same period in
2017.
Non-Interest Income/Expense
During the three months ended June 30, 2018,
non-interest income totaled $2.2 million, a decrease of $157
thousand from the three months ended June 30, 2017. The largest
component of this decrease was a $253 thousand decrease in gains on
sale of SBA loans from $786 thousand during the three months ended
June 30, 2017 to $533 thousand during the current quarter. Proceeds
from SBA loan sales totaled $10.3 million during the current
quarter and $13.1 million during the 2017 quarter. Loans
originated for sale totaled $10.0 million during the three months
ended June 30, 2018 and $8.5 million during the three months ended
June 30, 2017. The decline in gain on sale includes the
decrease in loans sold as well as a decline in the average premium
received on sale.
During the six months ended June 30, 2018,
non-interest income totaled $4.8 million, an increase of $327
thousand from the six months ended June 30, 2017. The largest
component of this increase was a $209 thousand gain recorded upon
the prospective adoption of a newly effective accounting
pronouncement impacting the measurement of equity securities, which
in our case consists of stock in our correspondent banks, without a
readily determinable fair market value. Other significant increases
included $67 thousand in service charges on deposit accounts, $98
thousand in interchange income and $49 thousand in loan service
fees. Gains on sale of SBA loans decreased by $115 thousand
from $1.3 million during the six months ended June 30, 2017 to $1.2
million during the current period. Proceeds from SBA loan sales
totaled $22.2 million during the current period and $22.3 million
for the six months ended June 30, 2017. Loans originated for
sale totaled $22.6 million during the six months ended June 30,
2018 and $19.7 million during the six months ended June 30,
2017. The decline in gain on sale mostly relates to a decline
in the average premium received on sale.
During the three months ended June 30, 2018,
total non-interest expense increased by $337 thousand, or 7%, to
$5.2 million, up from $4.9 million for the comparable period in
2017. During the six months ended June 30, 2018 non-interest
expense increased by $704 thousand to $10.7 million, up from $10.0
million during the same period in 2017. The Company’s single
largest expense is salary and benefit costs. During the three
months ended June 30, 2018 salary and benefits increased by $59
thousand, or 2%, to $2.9 million and during the six months ended
June 30, 2018 salary and benefit expense increased by $245
thousand, or 4%, to $6.0 million.
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: three
located in the California Counties of Placer, Butte and Tehama, and
one located in the 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 KuipersVice President, Marketing Manager
& Investor Relations OfficerPlumas Bank35 S. Lindan
AvenueQuincy, CA 95971530.283.7305
ext.8912investorrelations@plumasbank.com
|
PLUMAS BANCORP |
CONDENSED CONSOLIDATED BALANCE
SHEETS |
(In thousands) |
(Unaudited) |
|
As of June 30, |
|
|
|
|
2018 |
|
|
|
2017 |
|
|
DollarChange |
|
PercentageChange |
ASSETS |
|
|
|
|
|
|
|
Cash and due from
banks |
$ |
52,673 |
|
|
$ |
68,851 |
|
|
$ |
(16,178 |
) |
|
-23.5% |
Investment
securities |
|
157,792 |
|
|
|
112,329 |
|
|
|
45,463 |
|
|
40.5% |
Loans, net of allowance
for loan losses |
|
511,977 |
|
|
|
471,418 |
|
|
|
40,559 |
|
|
8.6% |
Premises and equipment,
net |
|
13,800 |
|
|
|
11,459 |
|
|
|
2,341 |
|
|
20.4% |
Bank owned life
insurance |
|
12,693 |
|
|
|
12,695 |
|
|
|
(2 |
) |
|
0.0% |
Real estate acquired
through foreclosure |
|
953 |
|
|
|
844 |
|
|
|
109 |
|
|
12.9% |
Accrued interest
receivable and other assets |
|
14,830 |
|
|
|
12,292 |
|
|
|
2,538 |
|
|
20.6% |
Total
assets |
$ |
764,718 |
|
|
$ |
689,888 |
|
|
$ |
74,830 |
|
|
10.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits |
$ |
679,066 |
|
|
$ |
616,159 |
|
|
$ |
62,907 |
|
|
10.2% |
Accrued interest
payable and other liabilities |
|
15,845 |
|
|
|
10,491 |
|
|
|
5,354 |
|
|
51.0% |
Junior subordinated
deferrable interest debentures |
|
10,310 |
|
|
|
10,310 |
|
|
|
- |
|
|
0.0% |
Total
liabilities |
|
705,221 |
|
|
|
636,960 |
|
|
|
68,261 |
|
|
10.7% |
Common stock |
|
6,776 |
|
|
|
6,252 |
|
|
|
524 |
|
|
8.4% |
Retained earnings |
|
55,660 |
|
|
|
46,884 |
|
|
|
8,776 |
|
|
18.7% |
Accumulated other
comprehensive loss income, net |
|
(2,939 |
) |
|
|
(208 |
) |
|
|
(2,731 |
) |
|
-1313.0% |
Shareholders’ equity |
|
59,497 |
|
|
|
52,928 |
|
|
|
6,569 |
|
|
12.4% |
Total
liabilities and shareholders’ equity |
$ |
764,718 |
|
|
$ |
689,888 |
|
|
$ |
74,830 |
|
|
10.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PLUMAS BANCORP |
CONDENSED CONSOLIDATED STATEMENTS OF
INCOME |
(In thousands, except per share data) |
(Unaudited) |
|
|
|
|
|
|
|
|
FOR THE THREE MONTHS ENDED JUNE 30, |
|
2018 |
|
|
|
2017 |
|
|
DollarChange |
|
PercentageChange |
|
|
|
|
|
|
|
|
Interest income |
$ |
8,294 |
|
|
$ |
7,119 |
|
|
$ |
1,175 |
|
|
16.5% |
Interest expense |
|
281 |
|
|
|
244 |
|
|
|
37 |
|
|
15.2% |
Net
interest income before provision for loan losses |
|
8,013 |
|
|
|
6,875 |
|
|
|
1,138 |
|
|
16.6% |
Provision for loan
losses |
|
300 |
|
|
|
200 |
|
|
|
100 |
|
|
50.0% |
Net
interest income after provision for loan losses |
|
7,713 |
|
|
|
6,675 |
|
|
|
1,038 |
|
|
15.6% |
Non-interest
income |
|
2,225 |
|
|
|
2,382 |
|
|
|
(157 |
) |
|
-6.6% |
Non-interest
expense |
|
5,229 |
|
|
|
4,892 |
|
|
|
337 |
|
|
6.9% |
Income
before income taxes |
|
4,709 |
|
|
|
4,165 |
|
|
|
544 |
|
|
13.1% |
Provision for
income taxes |
|
1,264 |
|
|
|
1,624 |
|
|
|
(360 |
) |
|
-22.2% |
Net
income |
$ |
3,445 |
|
|
$ |
2,541 |
|
|
$ |
904 |
|
|
35.6% |
|
|
|
|
|
|
|
|
Basic earnings
per share |
$ |
0.67 |
|
|
$ |
0.51 |
|
|
$ |
0.16 |
|
|
31.4% |
Diluted earnings
per share |
$ |
0.66 |
|
|
$ |
0.49 |
|
|
$ |
0.17 |
|
|
34.7% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FOR THE SIX MONTHS ENDED JUNE 30, |
|
2018 |
|
|
|
2017 |
|
|
DollarChange |
|
PercentageChange |
|
|
|
|
|
|
|
|
Interest income |
$ |
16,112 |
|
|
$ |
13,884 |
|
|
$ |
2,228 |
|
|
16.0% |
Interest expense |
|
546 |
|
|
|
502 |
|
|
|
44 |
|
|
8.8% |
Net
interest income before provision for loan losses |
|
15,566 |
|
|
|
13,382 |
|
|
|
2,184 |
|
|
16.3% |
Provision for loan
losses |
|
500 |
|
|
|
400 |
|
|
|
100 |
|
|
25.0% |
Net
interest income after provision for loan losses |
|
15,066 |
|
|
|
12,982 |
|
|
|
2,084 |
|
|
16.1% |
Non-interest
income |
|
4,757 |
|
|
|
4,430 |
|
|
|
327 |
|
|
7.4% |
Non-interest
expense |
|
10,679 |
|
|
|
9,975 |
|
|
|
704 |
|
|
7.1% |
Income
before income taxes |
|
9,144 |
|
|
|
7,437 |
|
|
|
1,707 |
|
|
23.0% |
Provision for
income taxes |
|
2,419 |
|
|
|
2,832 |
|
|
|
(413 |
) |
|
-14.6% |
Net
income |
$ |
6,725 |
|
|
$ |
4,605 |
|
|
$ |
2,120 |
|
|
46.0% |
|
|
|
|
|
|
|
|
Basic earnings
per share |
$ |
1.32 |
|
|
$ |
0.93 |
|
|
$ |
0.39 |
|
|
41.9% |
Diluted earnings
per share |
$ |
1.29 |
|
|
$ |
0.89 |
|
|
$ |
0.40 |
|
|
44.9% |
|
|
|
|
|
|
|
|
|
PLUMAS BANCORP |
SELECTED FINANCIAL INFORMATION |
(Dollars in thousands, except per share data) |
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Six Months Ended |
|
6/30/2018 |
|
3/31/2018 |
|
6/30/2017 |
|
6/30/2018 |
|
6/30/2017 |
EARNINGS PER SHARE |
|
|
|
|
|
|
|
|
|
Basic earnings per
share |
$ |
0.67 |
|
$ |
0.65 |
|
$ |
0.51 |
|
$ |
1.32 |
|
$ |
0.93 |
Diluted earnings per
share |
$ |
0.66 |
|
$ |
0.63 |
|
$ |
0.49 |
|
$ |
1.29 |
|
$ |
0.89 |
Weighted average shares
outstanding |
|
5,107 |
|
|
5,071 |
|
|
5,001 |
|
|
5,089 |
|
|
4,956 |
Weighted average
diluted shares outstanding |
|
5,222 |
|
|
5,208 |
|
|
5,180 |
|
|
5,216 |
|
|
5,173 |
Cash dividends paid per
share (1) |
$ |
0.18 |
|
$ |
- |
|
$ |
0.14 |
|
$ |
0.18 |
|
$ |
0.14 |
|
|
|
|
|
|
|
|
|
|
PERFORMANCE RATIOS (annualized) |
|
|
|
|
|
|
|
|
|
Return on average
assets |
|
1.87% |
|
|
1.82% |
|
|
1.54% |
|
|
1.85% |
|
|
1.40% |
Return on average
equity |
|
23.7% |
|
|
23.6% |
|
|
19.7% |
|
|
23.6% |
|
|
18.3% |
Yield on earning
assets |
|
4.91% |
|
|
4.68% |
|
|
4.67% |
|
|
4.80% |
|
|
4.57% |
Rate paid on
interest-bearing liabilities |
|
0.28% |
|
|
0.27% |
|
|
0.27% |
|
|
0.27% |
|
|
0.27% |
Net interest
margin |
|
4.75% |
|
|
4.52% |
|
|
4.51% |
|
|
4.63% |
|
|
4.41% |
Noninterest income to
average assets |
|
1.21% |
|
|
1.40% |
|
|
1.44% |
|
|
1.31% |
|
|
1.35% |
Noninterest expense to
average assets |
|
2.84% |
|
|
3.02% |
|
|
2.96% |
|
|
2.93% |
|
|
3.03% |
Efficiency ratio |
|
51.1% |
|
|
54.0% |
|
|
52.8% |
|
|
52.5% |
|
|
56.0% |
|
|
|
|
|
|
|
|
|
|
|
6/30/2018 |
|
3/31/2018 |
|
6/30/2017 |
|
12/31/2017 |
|
12/31/2016 |
CREDIT QUALITY RATIOS AND DATA |
|
|
|
|
|
|
|
|
|
Allowance for loan
losses |
$ |
6,698 |
|
$ |
6,622 |
|
$ |
6,855 |
|
$ |
6,669 |
|
$ |
6,549 |
Allowance for loan
losses as a percentage of total loans |
|
1.30% |
|
|
1.35% |
|
|
1.44% |
|
|
1.37% |
|
|
1.42% |
Nonperforming
loans |
$ |
882 |
|
$ |
1,018 |
|
$ |
2,910 |
|
$ |
3,022 |
|
$ |
2,724 |
Nonperforming
assets |
$ |
1,867 |
|
$ |
2,127 |
|
$ |
3,754 |
|
$ |
4,401 |
|
$ |
3,471 |
Nonperforming loans as
a percentage of total loans |
|
0.17% |
|
|
0.21% |
|
|
0.61% |
|
|
0.62% |
|
|
0.59% |
Nonperforming assets as
a percentage of total assets |
|
0.24% |
|
|
0.29% |
|
|
0.54% |
|
|
0.59% |
|
|
0.53% |
Year-to-date net
charge-offs |
$ |
471 |
|
$ |
247 |
|
$ |
94 |
|
$ |
480 |
|
$ |
329 |
Year-to-date net
charge-offs as a percentage of average loans (annualized) |
0.19% |
|
0.20% |
|
0.04% |
|
0.10% |
|
0.08% |
|
|
|
|
|
|
|
|
|
|
|
|
CAPITAL AND OTHER DATA |
|
|
|
|
|
|
|
|
|
|
|
Common shares
outstanding at end of period |
|
5,119 |
|
|
5,083 |
|
|
5,043 |
|
|
5,065 |
|
|
4,897 |
|
Tangible common
equity |
$ |
59,419 |
|
$ |
57,212 |
|
$ |
52,844 |
|
$ |
55,619 |
|
$ |
47,907 |
|
Tangible book value per
common share |
$ |
11.61 |
|
$ |
11.26 |
|
$ |
10.48 |
|
$ |
10.98 |
|
$ |
9.78 |
|
Tangible common equity
to total assets |
|
7.8% |
|
|
7.8% |
|
|
7.7% |
|
|
7.5% |
|
|
7.3% |
|
Gross loans to
deposits |
|
76.0% |
|
|
75.0% |
|
|
77.3% |
|
|
73.4% |
|
|
79.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PLUMAS BANK REGULATORY CAPITAL RATIOS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tier 1 Leverage
Ratio |
|
9.6% |
|
|
9.3% |
|
|
9.2% |
|
|
8.8% |
|
|
9.2% |
|
Common Equity Tier 1
Ratio |
|
12.1% |
|
|
12.5% |
|
|
11.8% |
|
|
12.0% |
|
|
12.1% |
|
Tier 1 Risk-Based
Capital Ratio |
|
12.1% |
|
|
12.5% |
|
|
11.8% |
|
|
12.0% |
|
|
12.1% |
|
Total Risk-Based
Capital Ratio |
|
13.3% |
|
|
13.7% |
|
|
13.0% |
|
|
13.2% |
|
|
13.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) The
Company paid semi-annual dividends of 18 cents per share on
May 15, 2018 and 14 cents per share on May 15,
2017. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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