TEXT_SIZE
Please update your Flash Player to view content.

Plumas Bank restructures to reduce expenses

Feather Publishing
5/19/2010

     Plumas Bank has implemented a reorganization plan in an effort to improve its financial results, which have deteriorated along with the general economy over the last couple of years.

    The restructuring includes reductions in staffing levels by 10 percent through retirements, attrition and voluntary and involuntary layoffs.

    A total of 12 positions — 7 percent of the bank’s 170 employees — have been eliminated company-wide, three of those jobs in the administrative offices located in Quincy.

   The other nine positions are spread out among the bank’s 11 branches in its six-county service area.

   Andrew Ryback, interim president and chief executive officer, said these changes, in addition to a variety of other cost-cutting measures, will result in expense reductions in excess of $1 million this year and will help return the bank to a position of strength and profitability.  

   “These are challenging times for all of us.  Nevertheless, management remains confident that with our sustained focus, commitment and action, the bank will continue to move toward a return to financial strength to grow and thrive in the post-recessionary environment for the benefit of our customers, employees and shareholders alike,” Ryback said.

Move
-

Sports Headlines

Top Headline

As weather warms up, golf courses open for season

James Wilson Sports Editor 4/11/2014
  Fore! That word is once again heard in the distance in Plumas County. As springtime springs into action, golf courses across...

Read More...

California Outdoors for the week of 4/11/2014

Carrie Wilson California Department of Fish and Wildlife   Fish and wildlife regulations don’t always keep up with latest technology Hunting with pellet rifles Question:...

Read More...

Trojans baseball blows out Portola

Trojans baseball blows out Portola

Quincy’s Jake Wallace is cocked and ready to fire off a fastball. Wallace pitched the second game for Quincy at the Biggs tournament last weekend. File photo...

Read More...
Contact Us
up_contact

BarberBtn

KennedyBtn

Facebook Image
Local Events

National Headlines

Auto Parts
CanyonMotorsButton
Moving and Storage
LassenNews.com
Yellow Page Directory
Yellow Pages
Advertise with us
Dining Guide
PlumasDiningCoverWeb
Visitors Guide
"); pageTracker._trackPageview(); } catch(err) {}