Plumas Bancorp (Nasdaq: PLBC), the parent company of Plumas Bank, reported first-quarter earnings of $7.2 million, or $1.21 per share, an increase from $6.3 million, or $1.06 per share, in the first quarter of 2024. Diluted earnings per share rose to $1.20 for the three months ending March 31, 2025, compared to $1.05 per share during the same period in 2024. The return on average assets improved to 1.79%, up from 1.55%, while the return on average equity decreased slightly to 16.0%, down from 16.4%.
A significant highlight of this quarter was the announcement of a definitive merger agreement with Cornerstone Community Bancorp, which will create a combined entity with over $2.3 billion in assets, $2.0 billion in deposits, and $1.5 billion in loans. Andrew J. Ryback, director, president, and CEO, emphasized the merger’s potential to enhance service offerings in Northern California and Western Nevada, benefiting clients, shareholders, and employees.
The merger aims to combine Cornerstone Community Bank’s local expertise with Plumas Bank’s advanced technology and business solutions, positioning the new entity for growth and market expansion. Ryback expressed confidence in achieving long-term growth through projected earnings accretion and a focused integration process.
Additionally, Piper Sandler has added Plumas Bank to its independent research coverage, which is expected to enhance the bank’s visibility among investors. Alongside coverage from Raymond James and Stephens, which have issued “buy” recommendations for PLBC stock, the bank anticipates fair market valuation.
Plumas Bancorp also declared a regular quarterly cash dividend of $0.30 per share on its common stock, payable on May 15 to stockholders of record as of May 1.
Information provided by Plumas Bank
