Plumas Bank’s record earnings continue through 2022; Quarterly dividend announced

Plumas Bancorp, the parent company of Plumas Bank, announced record earnings for the year that ended on Dec. 31, 2022. The bank reported net income of $26.4 million, an increase of $5.4 million, 26 percent.

Earnings during the fourth quarter of 2022 totaled $7.8 million, an increase of $2.3 million, or 42 percent. This represents the highest level of earnings for any quarter in the banks’s history.

12-Month Balance Sheet Highlights
for 2022 compared to 2021

  • Gross loans, excluding loans held for sale, increased by $73 million, or 9%, to $912 million.
  • Investment securities increased by $139 million, or 45%, to $445 million.
  • Total deposits increased by $19 million, or 1%, to $1.5 billion.
  • Non-performing assets decreased by $4.2 million or 78%, to $1.2 million.
Andrew Ryback

“With a focus on refining and enhancing business processes, Plumas Bank serves an expanding client base while exceeding peer averages in a variety of metrics including ROA, ROE, and efficiency ratio. The dedication of our leadership, staff, and clientele is reflected in this success and we will continue to build these relationships, especially as economic uncertainty hails in the coming year and clients seek the support of their community bank to weather yet another challenge,” stated Andrew J. Ryback, director, president and chief executive officer of Plumas Bancorp and Plumas Bank.

“We are excited to extend our footprint in the northern Central Valley with a de novo branch opening in Chico. Plumas’ Chico branch will complement our presence in Yuba City to the south and Redding to the north, with the road having been paved with the presence of a loan production office over the past eight years. Our Chico branch facility will have a variety of ‘green’ features and will open in the first half of 2023,” Ryback announced.

Ryback concluded, “While our nation will likely face some recessionary pressures in 2023, I’m proud to say that Plumas Bank is strong. We will continue to be strong for our communities, for our clients, and for our partners because Plumas Bank is committed to being Here. For Good.”

Loans, Deposits, Investments and Cash

Gross loans, excluding loans held for sale, increased by $73 million, from $839 million at Dec. 31, 2021, to $912 million at Dec. 31, 2022. Increases in loans included $97 million in commercial real estate loans, $8 million in automobile loans and $3 million in equity lines of credit; these items were partially offset by decreases of $23 million in commercial loans, $8 million in construction loans and $4 million in agricultural loans. Excluding PPP loan activity, commercial loans would have increased by $11 million and gross loans would have increased by $108 million. PPP loans totaled $300 thousand at Dec. 31, 2022, compared to $35 million at Dec. 31, 2021.

Total deposits increased by $19 million from $1.4 billion at to $1.5 billion at in 2022. The increase in deposits includes increases of $30 million in demand deposits and $27 million in savings accounts. These increases were partially offset by declines of $23 million in money market accounts, and $15 million in time deposits.

Quarterly cash dividend announced                               

Plumas Bancorp, the parent company of Plumas Bank, announced that the Board of Directors declared a regular quarterly cash dividend on Plumas Bancorp common stock of $0.25 per share, payable Feb, 15, 2023, to stockholders of record as of Feb. 1, 2023.

About the bank                                                                    

Plumas Bancorp is headquartered in Reno, Nev. Its principal subsidiary is Plumas Bank, which was founded in 1980, is a full-service community bank headquartered in Quincy. The bank operates fourteen branches: twelve located in in Lassen, Modoc, Nevada, Placer, Plumas, Shasta and Sutter counties and two branches located in Nevada, on in Reno and the other in Carson City. The bank also operates three loan production offices in Butte and Placer county and on in Klamath Falls, Ore. 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, visit its website at