Plumas Bancorp (Nasdaq:PLBC), the parent company of Plumas Bank announced its board of directors declared a regular quarterly cash dividend on Plumas Bancorp common stock of $0.30 per share, payable Feb.17, to stockholders of record as of Feb. 3.
Andrew J. Ryback, director, president, and CEO of Plumas Bancorp and Plumas Bank, said, “Plumas Bancorp ended 2024 with strong performance and continued loan growth, particularly in SBA loan production. The bank received several prestigious awards and proactively addressed challenges and opportunities by enhancing lending systems, formalizing its treasury management services, including through implementation of FedNow Receive, and focusing on low-cost funds and higher-yielding loans, resulting in margin expansion.”
Ryback added, “Not only did the sale leaseback optimize the bank’s capital structure and offset investment portfolio losses, it also will allow for assessment of the most efficient channels to serve our clients and communities. The increased yield on restructured securities further strengthened the bank’s financial performance.”
Looking ahead, Plumas Bancorp anticipates improved loan demand and deposit stabilization driven by projected Federal Reserve rate cuts, Ryback said. “As we close in on our 45th year, we would like to thank our clients, communities, employees, and investors for their continued support, which empowers Plumas Bank to be here,” he added.
Plumas Bank is a subsidiary of Plumas Bancorp, a bank holding company headquartered in Reno, Nev. Plumas Bank is a locally managed community bank founded in 1980 and headquartered in Quincy. With 15 branch offices in northeastern California and northern Nevada, and loan production offices in California and southern Oregon, Plumas Bank is one of the top-performing community banks in the country. For more information regarding Plumas Bancorp and Plumas Bank, visit plumasbank.com.
Information provided by Plumas Bankcorp
