Plumas Bancorp (Nasdaq: PLBC), the parent company of Plumas Bank, recently announced first-quarter earnings of $7.2 million or $1.21 per share, up from $6.3 million or $1.06 per share during the first quarter of 2024.
Diluted earnings per share was $1.20 during the three months ending March 31, 2025, up from $1.05 per share during the quarter ending March 31, 2024. Return on average assets was 1.79% during the current quarter, up from 1.55% during the first quarter of 2024. Return on average equity was 16.0% for the three months ending March 31, 2025, down from 16.4% during the first quarter of 2024.
The full first-quarter results are available available online.
“The highlight of this quarter is the announcement of our definitive merger agreement with Cornerstone Community Bancorp, a partnership that will result in a combined company with over $2.3 billion in assets, $2.0 billion in deposits and $1.5 billion in loans,” said Andrew J. Ryback, director, president and chief executive officer of Plumas Bancorp and Plumas Bank. “This merger reinforces our commitment to serving Northern California and Western Nevada, creating enhanced opportunities for our clients, shareholders and team members.”
Ryback noted that the merger unites Cornerstone Community Bank’s local expertise and strong practices with Plumas Bank’s innovative technology and business solutions. “Together, we are positioned to expand our footprint and strengthen our offerings, ensuring sustained value for the communities we serve,” he said. “With projected earnings accretion and a focused integration process, we are confident in our ability to deliver long-term growth and success.”
In additional first-quarter news, Piper Sandler added Plumas Bank to its independent research coverage; Ryback said this will boost visibility among investors and enhance market confidence. With coverage from Raymond James and Stephens as well, Ryback said the bank expects fair market valuation as all three firms previously released “buy” recommendations for PLBC stock.
Quarterly dividend
Plumas Bancorp also announced that the board of directors declared a regular quarterly cash dividend on Plumas Bancorp common stock of $0.30 per share, payable May 15 to stockholders of record as of May 1.