Record earnings continue as Plumas Bank grows

Plumas Bancorp, the parent company of Plumas Bank, has again reported record earnings for the first six months in 2019. Earnings during the second quarter of 2019 totaled $3.8 million, an increase of $365,000 from the year prior.

For the six months of 2019, the bank reported a record net income of $7.6 million, an increase of $903,000 for the same period in 2018.

In a press release Andrew Ryback, the bank’s president, CEO and director said, “On behalf of the board of directors, I am very pleased to report that our momentum continued into the second quarter and our capital position continues to strengthen.

“As we grow our franchise, we remain committed to maintaining our credit quality and strong capital position.


“We continue to stay focused on our strategic initiatives and feel that we are positioned to maintain our positive momentum through the second half of the year.”


Loans increased in the first six months of this year by $76.4 million, a 15 percent increase, from $516 million in 2018 to $592 million in 2019.

The four largest areas of growth in the bank loan portfolio were $34 million in commercial real estate loans, $18 million in auto loans, $13 million in agricultural loans and $12 million in real estate construction loans.


Total deposits increased by $58.1 million from $679 million last year to $737 million this year. The increase in deposits includes $40 million in deposits at the Carson City branch, which were purchased from Mutual of Omaha Bank in 2018.

For the first six months of 2019, 43 percent of the bank’s deposits were in the form of non-interest-bearing demand deposits. The $58.1 million increase includes increases of $30.3 million in non-interest-bearing demand deposits, $20.6 million in money market accounts and $8.5 million in time deposits. The increase in time deposits and money market accounts is a result of the Carson City branch acquisition.


The company at a glance

Founded in 1980, Plumas Bank is a locally owned and managed full-service community bank headquartered in Quincy. It operates 13 branches: 11 of them in Plumas, Lassen, Placer, Nevada, Modoc and Shasta counties and two branches in Nevada; one in Reno and one in Carson City. The Bank also operates three loan production offices: two in Northern California and one in Oregon. For more information on Plumas Bancorp and Plumas Bank and to read this press release in its entirety, go to

Financial highlights comparing the first six-months of 2018 and 2019

Total assets increased by $75 million, or 10 percent, to a record level of $839 million.

Gross loans increased by $76 million, or 15 percent, to a record level of $592 million.

Total deposits increased by $58 million, or nine percent, to a record level of $737 million.

Net income increased by $903 thousand or 13 percent, to $7.6 million.


Net interest income increased by $3 million to $18.5 million.

Total equity increased by $17.5 million, or 29 percent to a record level of $77 million.

Book value per share increased by $3.31, or 28 percent, to $14.93, up from $11.62.