Plumas Bancorp (Nasdaq:PLBC), the parent company of Plumas Bank,
today announced earnings for the third quarter of 2022 of $7.2
million or $1.24 per share, an increase of $650 thousand from $6.6
million or $1.13 per share during the third quarter of
2021. Diluted earnings per share increased to $1.23 per
share during the three months ended September 30, 2022, up from
$1.12 per share during the quarter ended September 30, 2021.
For the nine months ended September 30, 2022,
the Company reported net income of $18.6 million or $3.19 per
share, an increase of $3.1 million from $15.5 million or $2.87 per
share earned during the nine months ended September 30, 2021.
Earnings per diluted share increased to $3.15 during the nine
months ended September 30, 2022 up $0.32 from $2.83 during the
first nine months of 2021. Earnings during 2022 set a
record for any quarter or nine-month period in the Company’s
history.
Return on average assets was 1.72% during the
current quarter, up from 1.71% during the third quarter of 2021.
Return on average equity increased to 23.7% for the three months
ended September 30, 2022, up from 19.6% during the third of 2021.
Return on average assets was 1.52% during the nine months ended
September 30, 2022, down from 1.58% during the nine months of 2021.
Return on average equity increased to 20.1% for the nine months
ended September 30, 2022, up from 18.3% during the first nine
months of 2021.
Balance Sheet
HighlightsSeptember 30, 2022 compared to September
30, 2021
-
Total assets increased by $82 million, or 5%, to $1.7 billion.
-
Gross loans increased by $19 million, or 2%, to $858 million.
-
Investment securities increased by $108 million, or 39%, to $383
million.
-
Total deposits increased by $107 million, or 8%, to $1.5
billion.
-
Non-performing assets decreased by $3.6 million or 66%, to $1.9
million
President’s Comments
Andrew J. Ryback, director, president and chief
executive officer of Plumas Bancorp and Plumas Bank stated, “The
third quarter of 2022 resulted in record earnings mostly due to
rising interest rates. Additionally, average interest earning
assets grew by 11%. Non-performing assets to total assets at just
0.11% remain below regional and national peer averages. Plumas
stands strong in the face of probable recession and continues to
closely monitor the credit portfolio.”
Recently, Plumas Bank was recognized by three
leading financial industry groups:
- Plumas Bank has received awards for
the past 8 years from CB Resources. The CB Top Ten™ reported that
Plumas Bank ranked 25th in the nation in C-Corp $1 - 5 billion peer
group for the 2nd Quarter of 2022. The CB Top Ten™ is a community
bank performance scorecard that identifies the banks in the top 10
percent based on asset size and corporation type. Banks are
ranked by the following key performance indicators: Asset Growth,
Return on Average Assets, Return on Average Equity, Net Interest
Margin, Efficiency Ratio, Non-Performing Assets, Non-Interest
Bearing Deposits, and Non-interest Income.
- Piper Sandler Sm-All Stars Class of
2022 - Plumas Bancorp was named one of 35
publicly traded banks and thrifts to the Piper Sandler Sm-All Stars
Class of 2022. Sm-All Stars identifies the highest quality,
top performing small-cap banks and thrifts in the country. To earn
Sm-All Star status, companies must have a market capitalization
below $2.5 billion and demonstrate strong metrics with regard to
growth, profitability, credit quality, and capital strength. This
is the fourth time Plumas Bank has earned this award after
previously being chosen in 2018, 2019 and 2020.
- Plumas Bank was ranked 8th in the
nation in ICBA’s Top Lenders for 2022 – Based on lending
concentration and loan growth, Plumas Bank was ranked 8th in the
nation for the $1 billion+ category for agricultural loans.
Ryback commented, “We are honored to be
recognized by these prestigious financial industry organizations
and realize that it is due to the commitment and diligence of our
Board of Directors, executives, and team members as well as the
loyalty and support of our clients that make these achievements
possible.”
Loans, Deposits, Investments and
Cash
Gross loans, excluding loans held for sale,
increased by $19 million, or 2%, from $839 million at September 30,
2021, to $858 million at September 30, 2022. Increases in loans
included $55 million in commercial real estate loans, $16 million
in construction loans, $6 million in residential real estate loans
and $3 million in all other loans; these items were partially
offset by decreases of $51 million in commercial loans and $10
million in agricultural loans. Excluding PPP loan activity,
commercial loans would have increased by $8 million and gross loans
would have increased by $78 million or 10%. PPP loans totaled $1
million at September 30, 2022, and $60 million at September 30,
2021. Unamortized loan fees net of unamortized loan costs on PPP
loans totaled $52 thousand at September 30, 2022.
Beginning in 2020 we instituted a loan
forbearance program to assist borrowers with managing cash flows
disrupted due to COVID-19; we ended this program in the fourth
quarter of 2021 and there are no loan balances on deferral related
to this program at September 30,
2022.
On September 30, 2022, approximately 79% of the
Company's loan portfolio was comprised of variable rate loans. The
rates of interest charged on variable rate loans are set at
specific increments in relation to the Company's lending rate or
other indexes such as the published prime interest rate or U.S.
Treasury rates and vary with changes in these indexes. The
frequency in which variable rate loans reprice can vary from one
day to several years. Loans indexed to the prime interest rate were
approximately 23% of the Company’s loan portfolio; these loans
reprice within one day to three months of a change in the prime
rate.
Total deposits increased by $107 million from
$1.4 billion at September 30, 2021, to $1.5 billion at September
30, 2022. The increase in deposits includes increases of $68
million in demand deposits and $70 million in savings accounts.
These increases were partially offset by declines of $20 million in
money market accounts, and $11 million in time deposits. At
September 30, 2022, 53% of the Company’s deposits were in the form
of non-interest bearing demand deposits. The Company has no
brokered deposits.
Total investment securities increased by $108
million from $275 million at September 30, 2021, to $383 million at
September 30, 2022. Excluding the effect of a $64 million increase
in unrealized loss on investment securities, our investment
security portfolio would have grown by $172 million. The Bank’s
investment security portfolio consists of debt securities issued by
the US Government, US Government agencies, US Government sponsored
agencies and municipalities. Cash and due from banks decreased by
$39 million from $373 million at September 30, 2021, to $334
million at September 30, 2022.
Asset Quality
Nonperforming assets (which are comprised of
nonperforming loans, other real estate owned (“OREO”) and
repossessed vehicle holdings) at September 30, 2022, were $1.9
million, down from $5.5 million at September 30, 2021.
Nonperforming assets as a percentage of total assets decreased to
0.11% at September 30, 2022, down from 0.35% at September 30, 2021.
OREO decreased by $200 thousand from $569 thousand at September 30,
2021, to $369 thousand at September 30, 2022. Nonperforming loans
were $1.5 million at September 30, 2022, and $4.9 million at
September 30, 2021. Nonperforming loans as a percentage of total
loans decreased to 0.17% at September 30, 2022, down from 0.58% at
September 30, 2021.
The provision for loan losses increased by $125
thousand from $875 thousand during the first nine months of 2021 to
$1 million during the current period. Net charge-offs totaled $432
thousand and $472 thousand during the nine months ended September
30, 2022, and 2021, respectively. The allowance for loan losses
totaled $10.9 million at September 30, 2022, and $10.3 million at
September 30, 2021. The allowance for loan losses as a percentage
of total loans increased from 1.23% at September 30, 2021, to 1.27%
at September 30, 2022. Excluding PPP loans, the allowance for loan
losses as a percentage of total loans at September 30, 2022, and
2021 was 1.27% and 1.32%, respectively.
Shareholders’ Equity
Related mostly to an increase in accumulated
other comprehensive loss, total shareholders’ equity decreased by
$23.1 million from $129.5 million at September 30, 2021, to $106.4
million at September 30, 2022. Excluding $42.3 million in
accumulated other comprehensive loss at September 30, 2022, and
$1.8 million in accumulated other comprehensive income at September
30, 2021, shareholders’ equity would have increased by $21 million,
or 16%, to $149 million. Increases in shareholders’ equity include
earnings during the twelve-month period totaling $24.1 million and
stock option activity totaling $0.5 million. These items were
offset by the payment of cash dividends totaling $3.6 million and
an increase in accumulated other comprehensive loss of $44.1
million. The increase in accumulated other comprehensive loss
resulted from an increase in the unrealized loss on our investment
portfolio, net of tax of $45.2 million partially offset by an
increase in the value of our interest rate swaps.
Net Interest Income and Net Interest Margin
Net interest income was $15.7 million for the
three months ended September 30, 2022, an increase of $2.2 million
from the same period in 2021. The increase in net interest income
includes an increase of $2.1 million in interest income and a
decrease of $30 thousand in interest expense. Interest and fees on
loans, including loans held for sale, decreased by $916 thousand
related to a decline of $2.3 million in fees net of costs on PPP
loans partially offset by growth in the loan portfolio and an
increase in yield on the portfolio. During the current quarter we
recorded amortization of loan fees net of loan costs on PPP loans
totaling $237 thousand. This compares to $2.5 million during the
third quarter of 2021. This includes normal amortization on our PPP
portfolio and the effect of PPP loan forgiveness.
Average loan balances decreased by $2 million,
while the average yield on these loans decreased by 36 basis points
from 5.71% during the third quarter of 2021 to 5.35% during the
current quarter. The decrease in loan yield is directly related to
the $2.3 million decrease in PPP fees. Excluding PPP loans, yield
would have increased by 27 basis points mostly related to an
increase in the rate earned on loans tied to the prime interest.
The average prime interest rate increased by 210 basis points from
3.25% during the third quarter of 2021 to 5.35% during the current
quarter. The average balance of loans held for sale decreased from
$15.9 million during the three months ended September 30, 2021, to
$2.8 million during the current quarter. The average yield on loans
held for sale, all of which are tied to prime and reprice
quarterly, increased from 5.48% to 7.05%.
Interest on investment securities increased by
$1.4 million from the third quarter of 2021, related to an increase
in average investment securities of $133 million to $388 million
and an increase in yield on the investment portfolio of 81 basis
points from 1.80% during the third quarter of 2021 to 2.61% during
the current quarter. Interest on cash balances increased by $1.7
million related to both an increase of 213 basis points in the rate
paid on these balances and an increase of $35 million in average
cash balances. The rate paid on cash balances increased from 0.16%
during the third quarter of 2021 to 2.29% during the current
quarter mostly related to an increase in the rate paid on balances
held at the Federal Reserve Bank. The average rate paid on Federal
Reserve balances was 0.15% during the third quarter of 2021 and
2.25% during the current quarter.
Average interest earning assets during the three
months ended September 30, 2022, totaled $1.6 billion, an increase
of $157 million from the same period in 2021. The average yield on
interest earning assets increased by 15 basis points to 4.07%. Net
interest margin for the three months ended September 30, 2022,
increased 17 basis points to 4.00%, up from 3.83% for the same
period in 2021.
Net interest income for the nine months ended
September 30, 2022, was $41.2 million, an increase of $7.2 million
from the $34.0 million earned during the same period in 2021.
Interest income increased by $7.3 million. Included in interest
income during the current nine-month period were PPP fees net of
costs of $1.2 million, a decrease of $3.7 million from $4.9 million
during the nine months ended September 30, 2021. The average yield
on loans, including loans held for sale, decreased by 19 basis
points from 5.39% during the first nine months of 2021 to 5.20%
during the current period related to the decrease in PPP fees.
Average interest earning assets during the
current nine-month period totaled $1.6 billion, an increase of $303
million from the same period in 2021. This increase in average
interest earning assets consisted of increases of $79 million in
average loan and loans held for sale balances, $123 million in
average investment securities and $101 million in average cash
balances. The average yield on interest earning assets declined by
11 basis points to 3.68% mostly related to a decline in loan yield.
Interest expense increased by $52 thousand. Net interest margin for
the nine months ended September 30, 2022, decreased 10 basis points
to 3.60%, down from 3.70% for the same period in 2021.
Non-Interest Income/Expense
Non-interest income increased by $553 thousand
to $2.6 million during the current quarter up from $2.0 million
during the three months ended September 30, 2021. The largest
component of this increase was an increase in gain on sale of SBA
loans of $353 thousand. We did not sell SBA loans during the second
and third quarters of 2021 resulting in an inventory of loans held
for sale of $31.3 million at December 31, 2021. During the current
quarter we sold $10.7 million in guaranteed portions of SBA loans
and ended the quarter with loans held for sale totaling $434
thousand.
During the nine months ended September 30, 2022,
non-interest income totaled $8.9 million, an increase of $2.7
million from $6.2 million during the nine months ended September
30, 2021. The largest component of this increase was an increase in
gain on sale of loans of $2.1 million. During the nine months ended
September 30, 2022, we sold $48.9 million in guaranteed portions of
SBA loans. This compares to sales of $7.4 million during the nine
months ended September 30, 2021.
During the three months ended September 30,
2022, total non-interest expense increased by $1.6 million from
$6.6 million during the third quarter of 2021 to $8.2 million
during the current quarter. The largest component of this increase
was an increase in salary and benefit expense of $1.4 million.
Occupancy and equipment costs increased by $177 thousand. The
largest component of this increase relates to an increased
investment in software primarily related to our lending
platform.
During the three months ended September 30,
2021, the Company qualified for the Employee Retention Credit
(ERC). The ERC was made available under the Coronavirus Aid,
Relief, and Economic Security Act and modified and extended under
the Taxpayer Certainty and Disaster Tax Relief Act of 2020. We
recorded an ERC of $1.2 million during the third quarter of 2021 as
a reduction of salary and benefit expense.
During the nine months ended September 30, 2022,
non-interest expense increased by $5.7 million. The largest
components of this increase were $4.0 million in salary and benefit
expense, $630 thousand in occupancy and equipment costs, $219
thousand in outside service fees and $171 thousand in advertising
and shareholder relations. The largest components of the increase
in salary and benefit expense were $2.3 million in ERC during 2021,
$1.5 million in salary expense and $365 thousand in accrued bonus
expense. The increase in occupancy and equipment expense includes
$313 thousand related to our Yuba City branch. The largest
components of the increase in outside service fees were $131
thousand in debit card and ATM processing costs and $91 thousand in
human resources administration and payroll processing. The increase
in advertising and shareholder costs mostly relates to an increase
of $162 thousand in expense paid to an advertising agency which is
primarily focused on building our brand in Northern Nevada.
Plumas Bancorp is headquartered in Reno, Nevada.
Plumas Bancorp’s principal subsidiary is Plumas Bank, which was
founded in 1980. Plumas Bank is a full-service community bank
headquartered in Quincy, California. The bank operates fourteen
branches: twelve located in the California counties of Lassen,
Modoc, Nevada, Placer, Plumas, Shasta and Sutter and two branches
located in Nevada in the counties of Carson City and Washoe. The
bank also operates three loan production offices located in the
California counties of Butte and Placer and Klamath Falls, Oregon.
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
Contact: Jamie HuynhInvestor Relations Plumas Bancorp5525
Kietzke Lane Ste. 100Reno, NV 89511775.786.0907
x8908investorrelations@plumasbank.com
|
PLUMAS BANCORP |
|
CONDENSED CONSOLIDATED BALANCE SHEETS |
|
|
(In thousands) |
|
(Unaudited) |
|
|
As of September 30, |
|
|
|
|
|
2022 |
|
2021 |
|
Dollar Change |
|
Percentage Change |
|
ASSETS |
|
|
|
|
|
|
|
|
Cash and due from banks |
$ 334,124 |
|
$ 372,993 |
|
$ (38,869) |
|
(10.4)% |
|
Investment securities |
383,178 |
|
275,061 |
|
108,117 |
|
39.3% |
|
Loans, net of allowance for loan losses |
849,703 |
|
828,611 |
|
21,092 |
|
2.5% |
|
Loans held for sale |
434 |
|
28,364 |
|
(27,930) |
|
(98.5)% |
|
Premises and equipment, net |
18,133 |
|
16,005 |
|
2,128 |
|
13.3% |
|
Bank owned life insurance |
15,910 |
|
15,743 |
|
167 |
|
1.1% |
|
Real estate acquired through foreclosure |
369 |
|
569 |
|
(200) |
|
(35.1)% |
|
Goodwill |
5,502 |
|
5,502 |
|
- |
|
100.0% |
|
Accrued interest receivable and other assets |
45,718 |
|
28,632 |
|
17,086 |
|
59.7% |
|
Total assets |
$ 1,653,071 |
|
$ 1,571,480 |
|
$ 81,591 |
|
5.2% |
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND |
|
|
|
|
|
|
|
|
SHAREHOLDERS’ EQUITY |
|
|
Deposits |
$ 1,511,196 |
|
$ 1,404,446 |
|
$ 106,750 |
|
7.6% |
|
Accrued interest payable and other liabilities |
25,115 |
|
27,191 |
|
(2,076) |
|
(7.6)% |
|
Junior subordinated deferrable interest debentures |
10,310 |
|
10,310 |
|
- |
|
0.0% |
|
Total liabilities |
1,546,621 |
|
1,441,947 |
|
104,674 |
|
7.3% |
|
Common stock |
27,240 |
|
26,705 |
|
535 |
|
2.0% |
|
Retained earnings |
121,505 |
|
100,992 |
|
20,513 |
|
20.3% |
|
Accumulated other comprehensive (loss) income, net |
(42,295) |
|
1,836 |
|
(44,131) |
|
(2403.6)% |
|
Shareholders’ equity |
106,450 |
|
129,533 |
|
(23,083) |
|
(17.8)% |
|
Total liabilities and shareholders’ equity |
$ 1,653,071 |
|
$ 1,571,480 |
|
$ 81,591 |
|
5.2% |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
PLUMAS BANCORP |
|
CONDENSED CONSOLIDATED STATEMENTS OF INCOME |
|
(In thousands, except per share data) |
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
FOR THE THREE MONTHS ENDED SEPTEMBER 30, |
2022 |
|
2021 |
|
Dollar Change |
|
Percentage Change |
|
|
|
|
|
|
|
|
|
|
Interest income |
$ 16,005 |
|
$ 13,869 |
|
$ 2,136 |
|
15.4% |
|
Interest expense |
289 |
|
319 |
|
(30) |
|
(9.4)% |
|
Net interest income before provision for loan losses |
15,716 |
|
13,550 |
|
2,166 |
|
16.0% |
|
Provision for loan losses |
300 |
|
250 |
|
50 |
|
20.0% |
|
Net interest income after provision for loan losses |
15,416 |
|
13,300 |
|
2,116 |
|
15.9% |
|
Non-interest income |
2,554 |
|
2,001 |
|
553 |
|
27.6% |
|
Non-interest expense |
8,198 |
|
6,601 |
|
1,597 |
|
24.2% |
|
Income before income taxes |
9,772 |
|
8,700 |
|
1,072 |
|
12.3% |
|
Provision for income taxes |
2,544 |
|
2,122 |
|
422 |
|
19.9% |
|
Net income |
$ 7,228 |
|
$ 6,578 |
|
$ 650 |
|
9.9% |
|
|
|
|
|
|
|
|
|
|
Basic earnings per share |
$ 1.24 |
|
$ 1.13 |
|
$ 0.11 |
|
9.7% |
|
Diluted earnings per share |
$ 1.23 |
|
$ 1.12 |
|
$ 0.11 |
|
9.8% |
|
|
|
|
|
|
|
|
|
|
PLUMAS BANCORP |
|
CONDENSED CONSOLIDATED STATEMENTS OF INCOME |
|
(In thousands, except per share data) |
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
FOR THE NINE MONTHS ENDED SEPTEMBER 30, |
2022 |
|
2021 |
|
Dollar Change |
|
Percentage Change |
|
|
|
|
|
|
|
|
|
|
Interest income |
$ 42,037 |
|
$ 34,786 |
|
$ 7,251 |
|
20.8% |
|
Interest expense |
878 |
|
826 |
|
52 |
|
6.3% |
|
Net interest income before provision for loan losses |
41,159 |
|
33,960 |
|
7,199 |
|
21.2% |
|
Provision for loan losses |
1,000 |
|
875 |
|
125 |
|
14.3% |
|
Net interest income after provision for loan losses |
40,159 |
|
33,085 |
|
7,074 |
|
21.4% |
|
Non-interest income |
8,868 |
|
6,231 |
|
2,637 |
|
42.3% |
|
Non-interest expense |
23,904 |
|
18,225 |
|
5,679 |
|
31.2% |
|
Income before income taxes |
25,123 |
|
21,091 |
|
4,032 |
|
19.1% |
|
Provision for income taxes |
6,497 |
|
5,585 |
|
912 |
|
16.3% |
|
Net income |
$ 18,626 |
|
$ 15,506 |
|
$ 3,120 |
|
20.1% |
|
|
|
|
|
|
|
|
|
|
Basic earnings per share |
$ 3.19 |
|
$ 2.87 |
|
$ 0.32 |
|
11.1% |
|
Diluted earnings per share |
$ 3.15 |
|
$ 2.83 |
|
$ 0.32 |
|
11.3% |
|
PLUMAS BANCORP |
|
SELECTED FINANCIAL INFORMATION |
|
(Dollars in thousands, except per share data) |
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Nine Months Ended |
|
|
9/30/2022 |
|
6/30/2022 |
|
9/30/2021 |
|
9/30/2022 |
|
9/30/2021 |
|
EARNINGS PER SHARE |
|
|
|
|
|
|
|
|
|
|
Basic earnings per share |
$ |
1.24 |
|
|
$ |
0.97 |
|
|
$ |
1.13 |
|
|
$ |
3.19 |
|
|
$ |
2.87 |
|
|
Diluted earnings per share |
$ |
1.23 |
|
|
$ |
0.96 |
|
|
$ |
1.12 |
|
|
$ |
3.15 |
|
|
$ |
2.83 |
|
|
Weighted average shares outstanding |
|
5,845 |
|
|
|
5,843 |
|
|
|
5,800 |
|
|
|
5,837 |
|
|
|
5,397 |
|
|
Weighted average diluted shares outstanding |
|
5,895 |
|
|
|
5,909 |
|
|
|
5,885 |
|
|
|
5,911 |
|
|
|
5,477 |
|
|
Cash dividends paid per share 1 |
$ |
0.16 |
|
|
$ |
0.16 |
|
|
$ |
0.14 |
|
|
$ |
0.48 |
|
|
$ |
0.42 |
|
|
|
|
|
|
|
|
|
|
|
|
|
PERFORMANCE RATIOS (annualized for the three
months) |
|
|
|
|
|
|
|
Return on average assets |
|
1.72 |
% |
|
1.40 |
% |
|
1.71 |
% |
|
1.52 |
% |
|
|
1.58 |
% |
|
Return on average equity |
|
23.7 |
% |
|
19.0 |
% |
|
19.6 |
% |
|
20.1 |
% |
|
|
18.3 |
% |
|
Yield on earning assets |
|
4.07 |
% |
|
3.65 |
% |
|
3.92 |
% |
|
3.68 |
% |
|
|
3.79 |
% |
|
Rate paid on interest-bearing liabilities |
|
0.15 |
% |
|
0.16 |
% |
|
0.19 |
% |
|
0.16 |
% |
|
|
0.19 |
% |
|
Net interest margin |
|
4.00 |
% |
|
3.58 |
% |
|
3.83 |
% |
|
3.60 |
% |
|
|
3.70 |
% |
|
Noninterest income to average assets |
|
0.61 |
% |
|
0.66 |
% |
|
0.52 |
% |
|
0.72 |
% |
|
|
0.64 |
% |
|
Noninterest expense to average assets |
|
1.96 |
% |
|
1.98 |
% |
|
1.72 |
% |
|
1.95 |
% |
|
|
1.86 |
% |
|
Efficiency ratio 2 |
|
44.9 |
% |
|
49.9 |
% |
|
42.4 |
% |
|
47.8 |
% |
|
|
45.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
| |
9/30/2022 |
|
6/30/2022 |
|
9/30/2021 |
|
12/31/2021 |
|
12/31/2020 |
|
CREDIT QUALITY RATIOS AND DATA |
|
|
|
|
|
|
|
|
|
|
Allowance for loan losses |
$ |
10,920 |
|
|
$ |
10,919 |
|
|
$ |
10,305 |
|
|
$ |
10,352 |
|
|
$ |
9,902 |
|
|
Allowance for loan losses as a percentage of total loans |
|
1.27 |
% |
|
|
1.27 |
% |
|
|
1.23 |
% |
|
|
1.23 |
% |
|
|
1.40 |
% |
|
Allowance for loan losses as a percentage of total loans -excluding
PPP loans |
|
1.27 |
% |
|
|
1.28 |
% |
|
|
1.32 |
% |
|
|
1.29 |
% |
|
|
1.55 |
% |
|
Nonperforming loans |
$ |
1,485 |
|
|
$ |
1,551 |
|
|
$ |
4,873 |
|
|
$ |
4,863 |
|
|
$ |
2,536 |
|
|
Nonperforming assets |
$ |
1,872 |
|
|
$ |
1,960 |
|
|
$ |
5,465 |
|
|
$ |
5,397 |
|
|
$ |
2,970 |
|
|
Nonperforming loans as a percentage of total loans |
|
0.17 |
% |
|
|
0.18 |
% |
|
|
0.58 |
% |
|
|
0.58 |
% |
|
|
0.36 |
% |
|
Nonperforming assets as a percentage of total assets |
|
0.11 |
% |
|
|
0.12 |
% |
|
|
0.35 |
% |
|
|
0.33 |
% |
|
|
0.27 |
% |
|
Year-to-date net charge-offs |
$ |
432 |
|
|
$ |
133 |
|
|
$ |
472 |
|
|
$ |
675 |
|
|
$ |
516 |
|
|
Year-to-date net charge-offs as a percentage of average |
|
0.07 |
% |
|
|
0.03 |
% |
|
|
0.08 |
% |
|
0.09 |
% |
|
|
0.07 |
% |
|
loans (annualized) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CAPITAL AND OTHER DATA |
|
|
|
|
|
|
|
|
|
|
Common shares outstanding at end of period |
|
5,849 |
|
|
|
5,845 |
|
|
|
5,811 |
|
|
|
5,817 |
|
|
|
5,182 |
|
|
Shareholders' equity |
$ |
106,450 |
|
|
$ |
116,158 |
|
|
$ |
129,533 |
|
|
$ |
134,082 |
|
|
$ |
100,154 |
|
|
Book value per common share |
$ |
18.20 |
|
|
$ |
19.87 |
|
|
$ |
22.29 |
|
|
$ |
23.05 |
|
|
$ |
19.33 |
|
|
Tangible common equity3 |
$ |
99,651 |
|
|
$ |
109,287 |
|
|
$ |
122,439 |
|
|
$ |
127,067 |
|
|
$ |
99,432 |
|
|
Tangible book value per common share4 |
$ |
17.04 |
|
|
$ |
18.70 |
|
|
$ |
21.07 |
|
|
$ |
21.84 |
|
|
$ |
19.19 |
|
|
Tangible common equity to total assets |
|
6.0 |
% |
|
|
6.7 |
% |
|
|
7.8 |
% |
|
|
7.9 |
% |
8.9 |
% |
|
Gross loans to deposits |
|
56.8 |
% |
|
|
58.5 |
% |
|
|
59.7 |
% |
|
|
58.3 |
% |
|
|
72.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PLUMAS BANK REGULATORY CAPITAL RATIOS |
|
|
|
|
|
|
|
|
Tier 1 Leverage Ratio |
|
8.9 |
% |
|
|
8.7 |
% |
|
|
8.6 |
% |
|
|
8.4 |
% |
|
|
9.2 |
% |
|
Common Equity Tier 1 Ratio |
|
14.8 |
% |
|
|
14.4 |
% |
|
|
14.1 |
% |
|
|
14.4 |
% |
|
|
14.2 |
% |
|
Tier 1 Risk-Based Capital Ratio |
|
14.8 |
% |
|
|
14.4 |
% |
|
|
14.1 |
% |
|
|
14.4 |
% |
|
|
14.2 |
% |
|
Total Risk-Based Capital Ratio |
|
15.9 |
% |
|
|
15.5 |
% |
|
|
15.3 |
% |
|
|
15.5 |
% |
|
|
15.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
(1) The Company paid a quarterly cash dividend of 16 cents per
share on February 15, 2022, May 16, 2022, and August 15, 2022, and
a quarterly cash dividend of 14 cents per share on February 15,
2021, May 17, 2021, August 16, 2021 and November 15, 2021. |
|
(2) Efficiency ratio is defined as noninterest expense divided by
total revenue (net interest income and total noninterest
income). |
|
(3) Tangible common equity is defined as common equity less
goodwill and core deposit intangibles. |
|
(4) Tangible common book value per share is defined as tangible
common equity divided by common shares outstanding. |
|
PLUMAS BANCORP |
|
SELECTED FINANCIAL INFORMATION |
|
(Dollars in thousands) |
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table presents for the three-month periods
indicated the distribution of consolidated average assets,
liabilities and shareholders' equity. |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended |
|
For the Three Months Ended |
|
|
|
9/30/2022 |
|
9/30/2021 |
|
|
|
Average |
|
|
|
Yield/ |
|
Average |
|
|
|
Yield/ |
|
|
|
Balance |
|
Interest |
|
Rate |
|
Balance |
|
Interest |
|
Rate |
|
Interest-earning assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans (2) (3) |
|
$ |
863,132 |
|
$ |
11,637 |
|
5.35 |
% |
|
$ |
860,980 |
|
$ |
12,384 |
|
5.71 |
% |
|
Loans held for sale |
|
|
2,814 |
|
|
50 |
|
7.05 |
% |
|
|
15,846 |
|
|
219 |
|
5.48 |
% |
|
Investment securities |
|
|
279,342 |
|
|
1,811 |
|
2.57 |
% |
|
|
173,039 |
|
|
714 |
|
1.64 |
% |
|
Non-taxable investment securities (1) |
|
|
108,508 |
|
|
741 |
|
2.71 |
% |
|
|
81,995 |
|
|
443 |
|
2.14 |
% |
|
Interest-bearing deposits |
|
|
305,526 |
|
|
1,766 |
|
2.29 |
% |
|
|
270,655 |
|
|
109 |
|
0.16 |
% |
|
Total interest-earning assets |
|
|
1,559,322 |
|
|
16,005 |
|
4.07 |
% |
|
|
1,402,515 |
|
|
13,869 |
|
3.92 |
% |
|
Cash and due from banks |
|
|
32,934 |
|
|
|
|
|
|
61,373 |
|
|
|
|
|
Other assets |
|
|
70,665 |
|
|
|
|
|
|
59,386 |
|
|
|
|
|
Total assets |
|
$ |
1,662,921 |
|
|
|
|
|
$ |
1,523,274 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market deposits |
|
|
251,427 |
|
|
55 |
|
0.09 |
% |
|
|
250,034 |
|
|
95 |
|
0.15 |
% |
|
Savings deposits |
|
|
410,496 |
|
|
89 |
|
0.09 |
% |
|
|
326,097 |
|
|
67 |
|
0.08 |
% |
|
Time deposits |
|
|
58,179 |
|
|
39 |
|
0.27 |
% |
|
|
67,505 |
|
|
66 |
|
0.39 |
% |
|
Total deposits |
|
|
720,102 |
|
|
183 |
|
0.10 |
% |
|
|
643,636 |
|
|
228 |
|
0.14 |
% |
|
Junior subordinated debentures |
|
|
10,310 |
|
|
89 |
|
3.42 |
% |
|
|
10,310 |
|
|
90 |
|
3.46 |
% |
|
Other interest-bearing liabilities |
|
|
10,842 |
|
|
17 |
|
0.62 |
% |
|
|
13,575 |
|
|
1 |
|
0.03 |
% |
|
Total interest-bearing liabilities |
|
|
741,254 |
|
|
289 |
|
0.15 |
% |
|
|
667,521 |
|
|
319 |
|
0.19 |
% |
|
Non-interest-bearing deposits |
|
|
789,218 |
|
|
|
|
|
|
709,896 |
|
|
|
|
|
Other liabilities |
|
|
11,635 |
|
|
|
|
|
|
12,862 |
|
|
|
|
|
Shareholders' equity |
|
|
120,814 |
|
|
|
|
|
|
132,995 |
|
|
|
|
|
Total liabilities & equity |
|
$ |
1,662,921 |
|
|
|
|
|
$ |
1,523,274 |
|
|
|
|
|
Cost of funding interest-earning assets (4) |
|
|
|
|
|
0.07 |
% |
|
|
|
|
|
0.09 |
% |
|
Net interest income and margin (5) |
|
|
|
$ |
15,716 |
|
4.00 |
% |
|
|
|
$ |
13,550 |
|
3.83 |
% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Not computed on a tax-equivalent basis. |
|
(2) Average nonaccrual loan balances of $1.6 million for 2022 and
$6.2 million for 2021 are included in average loan balances for
computational purposes. |
|
(3) Net fees included in loan interest income for the three-month
periods ended September 30, 2022 and 2021 were $50 thousand and
$2.2 million, respectively. |
|
(4) Total annualized interest expense divided by the average
balance of total earning assets. |
|
(5) Annualized net interest income divided by the average balance
of total earning assets. |
|
PLUMAS BANCORP |
|
SELECTED FINANCIAL INFORMATION |
|
(Dollars in thousands) |
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table presents for the three-month periods
indicated the distribution of consolidated average assets,
liabilities and shareholders' equity. |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Nine Months Ended |
|
For the Nine Months Ended |
|
|
|
9/30/2022 |
|
9/30/2021 |
|
|
|
Average |
|
|
|
Yield/ |
|
Average |
|
|
|
Yield/ |
|
|
|
Balance |
|
Interest |
|
Rate |
|
Balance |
|
Interest |
|
Rate |
|
Interest-earning assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans (2) (3) |
|
$ |
847,043 |
|
$ |
32,933 |
|
5.20 |
% |
|
$ |
769,102 |
|
$ |
31,029 |
|
5.39 |
% |
|
Loans held for sale |
|
|
11,307 |
|
|
485 |
|
5.73 |
% |
|
|
10,522 |
|
|
441 |
|
5.60 |
% |
|
Investment securities |
|
|
244,380 |
|
|
4,124 |
|
2.26 |
% |
|
|
152,116 |
|
|
1,921 |
|
1.69 |
% |
|
Non-taxable investment securities (1) |
|
|
101,344 |
|
|
1,900 |
|
2.51 |
% |
|
|
71,067 |
|
|
1,182 |
|
2.22 |
% |
|
Interest-bearing deposits |
|
|
324,172 |
|
|
2,595 |
|
1.07 |
% |
|
|
222,900 |
|
|
213 |
|
0.13 |
% |
|
Total interest-earning assets |
|
|
1,528,246 |
|
|
42,037 |
|
3.68 |
% |
|
|
1,225,707 |
|
|
34,786 |
|
3.79 |
% |
|
Cash and due from banks |
|
|
45,329 |
|
|
|
|
|
|
39,581 |
|
|
|
|
|
Other assets |
|
|
66,667 |
|
|
|
|
|
|
44,630 |
|
|
|
|
|
Total assets |
|
$ |
1,640,242 |
|
|
|
|
|
$ |
1,309,918 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market deposits |
|
|
256,337 |
|
|
178 |
|
0.09 |
% |
|
|
212,115 |
|
|
222 |
|
0.14 |
% |
|
Savings deposits |
|
|
397,445 |
|
|
256 |
|
0.09 |
% |
|
|
288,236 |
|
|
203 |
|
0.09 |
% |
|
Time deposits |
|
|
61,405 |
|
|
127 |
|
0.28 |
% |
|
|
49,900 |
|
|
140 |
|
0.38 |
% |
|
Total deposits |
|
|
715,187 |
|
|
561 |
|
0.10 |
% |
|
|
550,251 |
|
|
565 |
|
0.14 |
% |
|
Junior subordinated debentures |
|
|
10,310 |
|
|
267 |
|
3.46 |
% |
|
|
10,310 |
|
|
255 |
|
3.31 |
% |
|
Other interest-bearing liabilities |
|
|
11,601 |
|
|
50 |
|
0.58 |
% |
|
|
14,660 |
|
|
6 |
|
0.05 |
% |
|
Total interest-bearing liabilities |
|
|
737,098 |
|
|
878 |
|
0.16 |
% |
|
|
575,221 |
|
|
826 |
|
0.19 |
% |
|
Non-interest-bearing deposits |
|
|
767,181 |
|
|
|
|
|
|
611,422 |
|
|
|
|
|
Other liabilities |
|
|
11,824 |
|
|
|
|
|
|
10,048 |
|
|
|
|
|
Shareholders' equity |
|
|
124,139 |
|
|
|
|
|
|
113,227 |
|
|
|
|
|
Total liabilities & equity |
|
$ |
1,640,242 |
|
|
|
|
|
$ |
1,309,918 |
|
|
|
|
|
Cost of funding interest-earning assets (4) |
|
|
|
|
|
0.08 |
% |
|
|
|
|
|
0.09 |
% |
|
Net interest income and margin (5) |
|
|
|
$ |
41,159 |
|
3.60 |
% |
|
|
|
$ |
33,960 |
|
3.70 |
% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Not computed on a tax-equivalent
basis. |
|
(2) Average nonaccrual loan balances of $3.3 million for 2022 and
$4.2 million for 2021 are included in average loan balances for
computational purposes. |
|
(3) Net fees included in loan interest income for the nine-month
periods ended September 30, 2022 and 2021 were $561 thousand and
$4.4 million, respectively. |
|
(4) Total annualized interest expense divided by the average
balance of total earning
assets. |
|
(5) Annualized net interest income divided by the average balance
of total earning
assets. |
|
PLUMAS BANCORP |
|
SELECTED FINANCIAL INFORMATION |
|
(Dollars in thousands) |
|
(Unaudited) |
| |
|
|
|
|
|
|
|
|
The following table presents the components of non-interest
income for the three-month periods ended September 30, 2022
and 2021. |
|
|
|
|
|
|
|
|
|
| |
For the Three Months Ended |
|
|
|
|
|
|
September 30, |
|
|
|
|
|
|
|
2022 |
|
|
2021 |
|
Dollar Change |
|
Percentage Change |
|
Interchange income |
$ |
864 |
|
$ |
839 |
|
$ |
25 |
|
|
3.0 |
% |
|
Service charges on deposit accounts |
|
666 |
|
|
636 |
|
|
30 |
|
|
4.7 |
% |
|
Gain on sale of loans, net |
|
353 |
|
|
- |
|
|
353 |
|
|
100.0 |
% |
|
Loan servicing fees |
|
220 |
|
|
200 |
|
|
20 |
|
|
10.0 |
% |
|
Earnings on life insurance policies |
|
99 |
|
|
104 |
|
|
(5 |
) |
|
(4.81 |
)% |
|
Other |
|
352 |
|
|
222 |
|
|
130 |
|
|
58.6 |
% |
|
Total non-interest income |
$ |
2,554 |
|
$ |
2,001 |
|
$ |
553 |
|
|
27.6 |
% |
|
|
|
|
|
|
|
|
|
|
The following table presents the components of non-interest
expense for the three-month periods ended September 30, 2022
and 2021. |
|
|
|
|
|
|
|
|
|
| |
For the Three Months Ended |
|
|
|
|
|
|
September 30, |
|
|
|
|
|
|
|
2022 |
|
|
2021 |
|
Dollar Change |
|
Percentage Change |
|
Salaries and employee benefits |
$ |
4,380 |
|
$ |
2,940 |
|
$ |
1,440 |
|
|
49.0 |
% |
|
Occupancy and equipment |
|
1,220 |
|
|
1,043 |
|
|
177 |
|
|
17.0 |
% |
|
Outside service fees |
|
1,007 |
|
|
1,101 |
|
|
(94 |
) |
|
(8.5 |
)% |
|
Professional fees |
|
314 |
|
|
246 |
|
|
68 |
|
|
27.6 |
% |
|
Advertising and shareholder relations |
|
194 |
|
|
154 |
|
|
40 |
|
|
26.0 |
% |
|
Telephone and data communication |
|
190 |
|
|
206 |
|
|
(16 |
) |
|
(7.8 |
)% |
|
Armored car and courier |
|
183 |
|
|
130 |
|
|
53 |
|
|
40.8 |
% |
|
Director compensation and expense |
|
154 |
|
|
132 |
|
|
22 |
|
|
16.7 |
% |
|
Business development |
|
130 |
|
|
95 |
|
|
35 |
|
|
36.8 |
% |
|
Amortization of Core Deposit Intangible |
|
72 |
|
|
83 |
|
|
(11 |
) |
|
(13.3 |
)% |
|
Loan collection expenses |
|
56 |
|
|
113 |
|
|
(57 |
) |
|
(50.4 |
)% |
|
Deposit insurance |
|
48 |
|
|
128 |
|
|
(80 |
) |
|
(62.5 |
)% |
|
Other |
|
250 |
|
|
230 |
|
|
20 |
|
|
8.7 |
% |
|
Total non-interest expense |
$ |
8,198 |
|
$ |
6,601 |
|
$ |
1,597 |
|
|
24.2 |
% |
|
PLUMAS BANCORP |
|
SELECTED FINANCIAL INFORMATION |
|
(Dollars in thousands) |
|
(Unaudited) |
| |
|
|
|
|
|
|
|
|
The following table presents the components of non-interest
income for the nine-month periods ended September 30, 2022 and
2021. |
|
|
|
|
|
|
|
|
|
| |
For the Nine Months Ended |
|
|
|
|
|
|
September 30, |
|
|
|
|
|
|
|
2022 |
|
|
2021 |
|
Dollar Change |
|
Percentage Change |
|
Gain on sale of loans, net |
$ |
2,688 |
|
$ |
591 |
|
$ |
2,097 |
|
|
354.8 |
% |
|
Interchange income |
|
2,478 |
|
|
2,367 |
|
|
111 |
|
|
4.7 |
% |
|
Service charges on deposit accounts |
|
1,835 |
|
|
1,743 |
|
|
92 |
|
|
5.3 |
% |
|
Loan servicing fees |
|
642 |
|
|
623 |
|
|
19 |
|
|
3.0 |
% |
|
Earnings on life insurance policies |
|
281 |
|
|
279 |
|
|
2 |
|
|
0.7 |
% |
|
Other |
|
944 |
|
|
628 |
|
|
316 |
|
|
50.3 |
% |
|
Total non-interest income |
$ |
8,868 |
|
$ |
6,231 |
|
$ |
2,637 |
|
|
42.3 |
% |
|
|
|
|
|
|
|
|
|
|
The following table presents the components of non-interest
expense for the nine-month periods ended September 30, 2022
and 2021. |
|
|
|
|
|
|
|
|
|
| |
For the Nine Months Ended |
|
|
|
|
|
|
September 30, |
|
|
|
|
|
|
|
2022 |
|
|
2021 |
|
Dollar Change |
|
Percentage Change |
|
Salaries and employee benefits |
$ |
12,700 |
|
$ |
8,694 |
|
$ |
4,006 |
|
|
46.1 |
% |
|
Occupancy and equipment |
|
3,468 |
|
|
2,838 |
|
|
630 |
|
|
22.2 |
% |
|
Outside service fees |
|
2,937 |
|
|
2,718 |
|
|
219 |
|
|
8.1 |
% |
|
Professional fees |
|
930 |
|
|
1,039 |
|
|
(109 |
) |
|
(10.5 |
)% |
|
Telephone and data communication |
|
572 |
|
|
536 |
|
|
36 |
|
|
6.7 |
% |
|
Armored car and courier |
|
498 |
|
|
355 |
|
|
143 |
|
|
40.3 |
% |
|
Advertising and shareholder relations |
|
496 |
|
|
325 |
|
|
171 |
|
|
52.6 |
% |
|
Director compensation and expense |
|
429 |
|
|
329 |
|
|
100 |
|
|
30.4 |
% |
|
Deposit insurance |
|
420 |
|
|
290 |
|
|
130 |
|
|
44.8 |
% |
|
Business development |
|
372 |
|
|
222 |
|
|
150 |
|
|
67.6 |
% |
|
Amortization of Core Deposit Intangible |
|
216 |
|
|
167 |
|
|
49 |
|
|
29.3 |
% |
|
Loan collection expenses |
|
199 |
|
|
207 |
|
|
(8 |
) |
|
(3.9 |
)% |
|
Other |
|
667 |
|
|
505 |
|
|
162 |
|
|
32.1 |
% |
|
Total non-interest expense |
$ |
23,904 |
|
$ |
18,225 |
|
$ |
5,679 |
|
|
31.2 |
% |
|
PLUMAS BANCORP |
|
SELECTED FINANCIAL INFORMATION |
|
(Dollars in thousands) |
|
(Unaudited) |
| |
|
|
|
|
|
|
|
|
|
The following table shows the distribution of loans by type
at September 30, 2022 and 2021. |
| |
|
|
|
|
|
|
|
|
| |
|
|
|
Percent of Loans in
EachCategory to Total
Loans |
|
|
Percent ofLoans in
EachCategory toTotal
Loans |
|
|
|
|
|
|
|
|
|
|
Balance at Endof Period |
Balance at Endof Period |
|
|
|
|
|
|
9/30/2022 |
|
9/30/2022 |
|
9/30/2021 |
|
9/30/2021 |
|
Commercial |
|
$ |
73,227 |
|
8.5 |
% |
|
$ |
124,254 |
|
14.8 |
% |
|
Agricultural |
|
|
124,894 |
|
14.6 |
% |
|
|
134,638 |
|
16.0 |
% |
|
Real estate – residential |
|
|
15,999 |
|
1.9 |
% |
|
|
10,139 |
|
1.2 |
% |
|
Real estate – commercial |
|
|
457,624 |
|
53.3 |
% |
|
|
402,921 |
|
48.0 |
% |
|
Real estate – construction & land |
|
|
55,511 |
|
6.5 |
% |
|
|
39,085 |
|
4.7 |
% |
|
Equity Lines of Credit |
|
|
34,568 |
|
4.0 |
% |
|
|
33,254 |
|
4.0 |
% |
|
Auto |
|
|
91,425 |
|
10.7 |
% |
|
|
90,439 |
|
10.8 |
% |
|
Other |
|
|
4,728 |
|
0.5 |
% |
|
|
4,213 |
|
0.5 |
% |
|
Total Gross Loans |
|
$ |
857,976 |
|
100 |
% |
|
$ |
838,943 |
|
100 |
% |
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
The following table shows the distribution of deposits by
type at September 30, 2022 and 2021. |
| |
|
|
|
|
|
|
|
|
| |
|
|
|
Percent ofDeposits in
EachCategory to Total
Deposits |
|
|
Percent ofDeposits in
EachCategory toTotal
Deposits |
|
|
|
|
|
|
|
|
|
|
Balance at Endof
Period |
Balance at Endof
Period |
|
|
|
|
|
|
9/30/2022 |
|
9/30/2022 |
|
9/30/2021 |
|
9/30/2021 |
|
Non-interest bearing |
|
$ |
795,880 |
|
52.7 |
% |
|
$ |
728,021 |
|
51.8 |
% |
|
Money Market |
|
|
245,902 |
|
16.3 |
% |
|
|
265,440 |
|
18.9 |
% |
|
Savings |
|
|
414,039 |
|
27.4 |
% |
|
|
344,236 |
|
24.5 |
% |
|
Time |
|
|
55,375 |
|
3.6 |
% |
|
|
66,749 |
|
4.8 |
% |
|
Total Deposits |
|
$ |
1,511,196 |
|
100 |
% |
|
$ |
1,404,446 |
|
100 |
% |
Plumas Bancorp (NASDAQ:PLBC)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Plumas Bancorp (NASDAQ:PLBC)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024
