Plumas Bancorp Receives Second Award for Last Year’s Performance – Ranked 2nd Best Performing Community Bank in Nation
April 03 2019 - 9:00AM
Plumas Bancorp (NASDAQ:PLBC), the holding company (the “Company”)
for Plumas Bank, recently announced that it was awarded the
prestigious 2018 Raymond James & Associates Community Bankers
Cup, which recognizes the top 10 percent of community banks in the
nation. In 2017, Raymond James ranked Plumas Bank fifth best
performing community bank in the nation and in 2018 that ranking
improved to second best. The Raymond James award is the
second award the bank has received for last year’s operational
results with the first being a top 2% ranking of community banks by
S&P Global Market Intelligence.
Raymond James evaluated 258 community banks that
are exchange-traded domestic banks with assets between $500 million
and $10 billion as of December 31, 2018. Each bank's performance
was judged by various metrics regarding profitability, operational
efficiency and the balance sheet. The six financial performance and
stability measures include nonperforming assets to loans and real
estate owned, five-year average core deposit percentage, net
interest margin, efficiency ratio, return on average assets and
return on average tangible common equity.
Director, President and Chief Executive Officer,
Andrew J. Ryback, commented, “We are honored that Plumas Bancorp
has been included with the best of the best of community banks for
the second year in a row by such a respected company as Raymond
James.”
He continued, “We are thrilled to have been
recognized first by S&P Global and now by Raymond James for our
exceptional performance and for building long-term shareholder
value. It’s due to the vision and leadership of our directors and
executives as well as the hard work and dedication of our team that
we achieved such strong financial performance in 2018.”
About Plumas Bank
Founded 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 California counties of Plumas, Lassen,
Placer, Nevada, Modoc and Shasta and two branches located in Nevada
in the counties of Washoe and Carson City. 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 Kuipers
Vice President, Marketing Manager &
Investor Relations Officer
Plumas Bank
35 S. Lindan Ave.
Quincy, CA 95971
Ph: 530.283.7305 x8912
Fax: 530.283.9665
elizabeth.kuipers@plumasbank.com
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