Plumas Bank was recently awarded multiple accolades and recognition from multiple entities.
America’s banking system has experienced significant challenges in the past several years. The country saw its first bank failures since the Great Recession. Increased interest rates and supply chain challenges led to deposit outflows from many institutions. Businesses of all sizes continue to recover from the COVID-19 pandemic by reimagining and right-sizing their business models and operations.
Through this period, Plumas Bank has received recognition as an industry leader in the banking sector from local, regional and national entities including Raymond James & Associates; Keefe, Bruyette & Woods, Inc. (KBW); S&P Global; and others. As a community bank, Plumas Bank has reinvested in the communities where it operates and helped power the businesses that make those communities vibrant and sustainable.
“Our focus on building meaningful, lasting relationships with our clients has allowed Plumas Bank to thrive,” said Andrew Ryback, president and CEO of Plumas Bank. “We have continued to deliver excellent returns for our investors because we have made smart lending decisions focused on balancing growth with stability while always focusing on serving the communities where we operate in Nevada and northeast California. We are deeply humbled to have been consistently recognized for that performance with accolades and awards from major institutions.”
Plumas Bank expanded its geographic footprint to serve more clients in the business and agriculture sectors, including recently opening a new full-service branch in Chico. The bank delivered strong economic performance as a result of sound management and prudent business practices. Plumas Bank attributes this growth to being named to the KBW Bank Honor Roll, an annual list of banking institutions demonstrating a strong track record of earnings growth over the past decade. In 2022, 14 institutions nationwide received this recognition from Keefe, Bruyette & Woods, Inc., a leading investment bank specializing in the financial services and fintech sectors.
The bank was also recently added to the Russell 2000 Index by FTSE Russell, a global index leader that provides innovative benchmarking, analytics, and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.
“Our industry is about establishing and maintaining trust by delivering what our clients and the market need,” added Ryback. “Our longevity and strategic growth decisions have allowed us to build those trusting relationships that navigate the ups and downs of the economy and provide stable, reliable results every year.”
For the sixth year in a row, Plumas Bank won the Raymond James Community Bankers Cup, which is awarded to the top performing 10 percent of banks in the $500 million to $10 billion asset range. In each of the six years that Plumas Bank has been awarded the Community Bankers Cup, it was ranked in the top five of best performing banks in the nation by Raymond James & Associates; in 2022, the Bank was ranked third best performing bank in its class.
For the fifth year in a row, Plumas Bank was named to the Bison Select list by D.A. Davidson. The biannual report features 86 small and micro-cap banks with a focus on recognizing a subsection of emerging institutions with favorable characteristics that may otherwise be overlooked by investors. “Recognition from national experts validates the work we have done to deliver for our clients and to support the communities in California and Nevada where we operate,” said Ryback. “Our success as a community bank is directly linked to the success of the communities we serve. We will continue to put the needs of our community and the businesses that make those communities thrive at the center of our operations, and power those communities for decades to come.”