Plumas Bank’s Reno branch (seen here) opened on Meadowood Mall Circle in 2015. In mid-March of this year, the bank’s holding company announced it is relocating its corporate headquarters to a new location in South Reno.
Courtesy Photo
Plumas Bancorp, the parent company of Reno-based Plumas Bank, on Oct. 20 announced record total assets and earnings for the third quarter. Total assets were $1.6 billion at Sept. 30, an increase of $456 million from $1.1 billion from a year earlier. Earnings during the third quarter totaled $6.6 million, or $1.13 per share, an increase of $2.9 million from $3.7 million or $0.71 per share during the third quarter of 2020, according to an Oct. 20 press release. Meanwhile, for the nine months ending Sept. 30. 2021, the company reported net income of $15.5 million or $2.87 per share, an increase of $5.3 million from $10.2 million or $1.97 per share earned during the nine months a year ago. Q3 results benefited from the acquisition of the Bank of Feather River, the wholly owned subsidiary of Feather River Bancorp, effective July 1, according to the press release. Total assets acquired from BFR, including goodwill, were $205 million, gross loans totaled $162 million and deposits totaled $177 million. “The acquisition of Bank of Feather River, which has become our Yuba City branch, has been a great success,” Plumas Bank President/CEO Andrew J. Ryback said in a statement. “We have enjoyed a high staff retention rate at this newly acquired branch and loan production during the third quarter was nearly 12% of the branch’s portfolio. We anticipate completion of the system conversion of our Yuba City branch in the fourth quarter.” Go here for the full earnings report.
