Plumas Bancorp Set to Join Russell 2000 Index
June 16 2020 - 9:00AM
Plumas Bancorp (Nasdaq: PLBC), the parent company of Plumas Bank,
is pleased to announce that the Company expects to be included in
the Russell 2000 Index when FTSE Russell (Russell) reconstitutes,
or recompiles, its U.S. and global equity indexes on June 26, 2020.
Russell’s preliminary announcement of its annual reconstitution of
the Russell Indexes, which includes Plumas Bancorp, was posted on
the Russell website on Friday, June 5, 2020, after the U.S. stock
market closed.
Director, President, and Chief Executive Officer, Andrew J.
Ryback, explained, “The Russell 2000 index is a stock market index
comprised of 2000 small-capitalization companies and is an
important barometer of the American economy because it measures the
performance of smaller, domestically focused businesses. It
is a good measure of how smaller companies in the U.S. are
faring. With significant growth in the Company’s market
capitalization over the last few years, Plumas Bancorp has now
earned its placement on the Russell Indexes.” Ryback continued,
“Inclusion in the Russell 2000 Index is an important and exciting
milestone for our Company. This recognition will increase the
overall awareness and exposure of our stock within the investment
community. This increased exposure comes at an opportune time for
Plumas Bancorp as we continue to grow our franchise and invest in
our communities.”
Russell determines inclusion of companies in its equity indexes
by market-capitalization rankings and style attributes. Russell
indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for active investment
strategies.
About FTSE Russell:FTSE Russell is a leading
global index provider creating and managing a wide range of
indexes, data and analytic solutions to meet client needs across
asset classes, style and strategies. Covering 98% of the investable
market, FTSE Russell indexes offer a true picture of global
markets, combined with the specialist knowledge gained from
developing local benchmarks around the world.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately $16
trillion is currently benchmarked to FTSE Russell indexes. For over
30 years, leading asset owners, asset managers, ETF providers and
investment banks have chosen FTSE Russell indexes to benchmark
their investment performance and create investment funds, ETFs,
structured products and index-based derivatives. FTSE Russell
indexes also provide clients with tools for asset allocation,
investment strategy analysis and risk management
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on index innovation and customer
partnership applying the highest industry standards and embracing
the IOSCO Principles. FTSE Russell is wholly owned by London Stock
Exchange Group.
For more information, visit www.ftserussell.com
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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