RENO, Nev., Aug. 29, 2025 (GLOBE NEWSWIRE) -- Plumas Bank, a wholly-owned subsidiary of Plumas Bancorp (NASDAQ: PLBC), today announced the publication of its 2025 Corporate Citizenship Report. The report highlights how Plumas Bank’s values-based philosophy fuels continued growth, strengthens competitiveness, and drives measurable returns for investors. “This report reflects the deliberate, steady approach that has guided Plumas Bank for more than four decades,” said Andrew Ryback, Plumas Bank President and ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION California 75-2987096 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) 5525 Kietzke Lane, Suite 100, Reno, Nevada 89511 (Address of Principal Executive Offices) (Zip Code) Washington, D.C. 20549 FORM 10-Q (Mark One) COMMISSION FILE NUMBER: 000-49883 PLUMAS BANCORP (Exact Name of Registrant as Specified in Its Charter) Registrant's Telephone Number, Including Area Code (775) 786-0907 Indicate by check mark whe ...

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Core Viewpoint - Plumas Bancorp reported quarterly earnings of $1.05 per share, missing the Zacks Consensus Estimate of $1.2 per share, representing a -12.50% earnings surprise [1] - The company posted revenues of $20.54 million for the quarter, also missing the Zacks Consensus Estimate by 1.94% [2] Financial Performance - Earnings per share (EPS) for the same quarter last year was $1.14, indicating a year-over-year decline [1] - Over the last four quarters, Plumas Bancorp has surpassed consensus EPS estimates three times [2] - The company has topped consensus revenue estimates three times over the last four quarters [2] Stock Performance - Plumas Bancorp shares have lost about 6% since the beginning of the year, while the S&P 500 has gained 6.2% [3] - The current Zacks Rank for the stock is 3 (Hold), indicating expected performance in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.49 on revenues of $24.5 million, and for the current fiscal year, it is $4.28 on revenues of $94.95 million [7] - The estimate revisions trend for Plumas Bancorp was mixed ahead of the earnings release, which could change following the recent report [6] Industry Context - The Zacks Industry Rank for Banks - West is currently in the top 22% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Another company in the same industry, FS Bancorp, is expected to report quarterly earnings of $0.97 per share, reflecting a year-over-year change of -14.2% [9]

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) [Second Quarter 2025 Performance](index=1&type=section&id=Second%20Quarter%202025%20Performance) Plumas Bancorp's Q2 2025 net income declined to **$6.3 million** due to lower net interest income and increased non-interest expenses, including merger costs | Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | Net Income | $6.3 million | $6.8 million | -$465 thousand | | Diluted EPS | $1.05 | $1.14 | -$0.09 | | Return on Average Assets (ROA) | 1.56% | 1.67% | -11 bps | | Return on Average Equity (ROE) | 13.4% | 17.1% | -370 bps | - Net interest income decreased by **$222 thousand** to **$18.2 million** in Q2 2025, down from **$18.4 million** in Q2 2024[3](index=3&type=chunk) - Non-interest expense increased by **$616 thousand** year-over-year to **$11.0 million**, largely due to **$481 thousand** in costs associated with the acquisition of Cornerstone Community Bancorp[4](index=4&type=chunk) - The provision for credit losses decreased slightly to **$860 thousand** from **$925 thousand** in the prior-year quarter[3](index=3&type=chunk) [Six-Month 2025 Performance](index=1&type=section&id=Six-Month%202025%20Performance) Six-month 2025 net income rose to **$13.5 million**, driven by increased non-interest income and lower credit loss provisions, despite higher merger-related expenses | Metric | H1 2025 | H1 2024 | Change | | :--- | :--- | :--- | :--- | | Net Income | $13.5 million | $13.0 million | +$461 thousand | | Diluted EPS | $2.25 | $2.19 | +$0.06 | | Return on Average Assets (ROA) | 1.67% | 1.61% | +6 bps | | Return on Average Equity (ROE) | 14.7% | 16.7% | -200 bps | - Net interest income for the six-month period increased by **$860 thousand** to **$36.7 million**[8](index=8&type=chunk) - Non-interest income saw a significant increase of **$1.2 million**, mainly due to a **$1.1 million** legal settlement related to the Dixie Fire[9](index=9&type=chunk) - Non-interest expense rose by **$1.7 million**, with **$1.1 million** of the increase attributed to costs from the pending acquisition of Cornerstone Community Bancorp[11](index=11&type=chunk) [Management Commentary](index=2&type=section&id=Management%20Commentary) [President's Comments](index=2&type=section&id=President's%20Comments) President Ryback highlighted the successful Cornerstone acquisition, expanding the bank's California presence, and noted internal efforts to enhance services and lending efficiency - Successfully completed the acquisition of Cornerstone Community Bank and Bancorp on July 1, 2025, expanding presence in California's northern Sacramento Valley[14](index=14&type=chunk) - Key personnel from Cornerstone, including Ken Robison (Director) and Matt Moseley (Market President), have joined Plumas Bancorp's leadership[14](index=14&type=chunk) - The company is focused on internal improvements, such as expanding treasury management services and refining lending platforms for greater efficiency[14](index=14&type=chunk) [Financial Condition](index=2&type=section&id=Financial%20Condition) [Balance Sheet Highlights](index=2&type=section&id=Balance%20Sheet%20Highlights) As of June 30, 2025, the balance sheet showed increased deposits and gross loans, reduced borrowings, and strengthened total equity and book value per share | Metric (as of June 30, 2025) | Value | YoY Change | YoY % Change | | :--- | :--- | :--- | :--- | | Gross Loans | $1.0 billion | +$21 million | +2% | | Total Deposits | $1.4 billion | +$62 million | +5% | | Borrowings | $15 million | -$105 million | -88% | | Total Equity | $193 million | +$28 million | +17% | | Book Value Per Share | $32.54 | +$4.53 | +16% | [Loans, Deposits, Investments and Cash](index=2&type=section&id=Loans,%20Deposits,%20Investments%20and%20Cash) Gross loans increased from commercial real estate growth, deposits rose from money market and time accounts, while investment securities and cash balances decreased - Loan growth was led by an **$85 million** increase in commercial real estate loans, partially offset by decreases in automobile (**-$29 million**), construction (**-$27 million**), and agricultural (**-$10 million**) loans[15](index=15&type=chunk) - Approximately **78%** of the loan portfolio consists of variable rate loans as of June 30, 2025[17](index=17&type=chunk) - Deposit growth was driven by a **$67 million** increase in money market accounts and a **$29 million** increase in time deposits. Non-interest-bearing demand deposits constituted **49%** of total deposits[18](index=18&type=chunk) - Total investment securities decreased by **$5 million** to **$440 million**, while cash and due from banks decreased by **$31 million** to **$79 million**[19](index=19&type=chunk) [Asset Quality](index=3&type=section&id=Asset%20Quality) Asset quality deteriorated with increased nonperforming assets, primarily due to one agricultural loan, while the allowance for credit losses remained stable | Metric | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Nonperforming Assets | $13.7 million | $9.1 million | | Nonperforming Assets / Total Assets | 0.84% | 0.56% | | Nonperforming Loans | $13.6 million | $9.0 million | | Nonperforming Loans / Total Loans | 1.34% | 0.90% | | Allowance for Credit Losses / Total Loans | 1.39% | 1.41% | - The increase in nonperforming loans is mainly due to one agricultural loan relationship with **15 loans** totaling **$9.9 million** being placed on nonaccrual status during the quarter[20](index=20&type=chunk) - Net charge-offs for the first six months of 2025 were **$137 thousand**, significantly lower than the **$610 thousand** recorded in the same period of 2024[22](index=22&type=chunk) [Shareholders' Equity](index=4&type=section&id=Shareholders'%20Equity) Shareholders' equity increased to **$193.1 million**, driven by net earnings and a positive change in AOCI, partially offset by cash dividends - Shareholders' equity grew by **$27.9 million (16.9%)** year-over-year to **$193.1 million**[25](index=25&type=chunk)[53](index=53&type=chunk) - Key drivers of the increase were **$29.1 million** in net earnings and a **$4.4 million** positive change in AOCI, offset by **$6.7 million** in dividends paid[25](index=25&type=chunk) [Liquidity](index=4&type=section&id=Liquidity) The company maintains strong liquidity, primarily funded by customer deposits, with significant available borrowing capacity and all prior-year BTFP borrowings repaid - All **$105 million** in borrowings under the Bank Term Funding Program (BTFP) outstanding at June 30, 2024, were paid off during 2024[26](index=26&type=chunk) - The company has access to significant borrowing capacity: **$255 million** from FHLB, **$98 million** from the FRB Discount Window, and **$70 million** in unsecured lines with correspondent banks. There were no outstanding borrowings on these facilities[28](index=28&type=chunk) - Customer deposits are the primary source of funds, totaling **$1.4 billion**. The company estimates it has **$516 million** in uninsured deposits, of which **$206 million** are collateralized[29](index=29&type=chunk) [Results of Operations](index=5&type=section&id=Results%20of%20Operations) [Net Interest Income and Net Interest Margin](index=5&type=section&id=Net%20Interest%20Income%20and%20Net%20Interest%20Margin) Q2 2025 net interest income and NIM decreased due to a nonaccrual loan; six-month net interest income and NIM improved from lower interest expense due to BTFP repayment [Three Months Ended June 30, 2025](index=5&type=section&id=Three%20Months%20Ended%20June%2030,%202025) Q2 2025 net interest income decreased to **$18.2 million**, with NIM compressing to **4.83%**, primarily due to a nonaccrual loan interest reversal despite lower interest expense | Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | Net Interest Income | $18.2 million | $18.4 million | -$222 thousand | | Net Interest Margin | 4.83% | 4.89% | -6 bps | - The average yield on loans decreased by **18 basis points** to **6.14%**, with **13 basis points** of the decline attributed to a **$344 thousand** interest reversal on loans placed on nonaccrual status[32](index=32&type=chunk) - Interest expense on deposits increased by **$968 thousand**, driven by higher balances and rates on money market accounts offered to public entities[36](index=36&type=chunk) - Total interest expense decreased by **$305 thousand**, primarily due to the repayment of BTFP borrowings, which had **$1.3 million** in interest expense in Q2 2024[35](index=35&type=chunk)[26](index=26&type=chunk) [Six Months Ended June 30, 2025](index=6&type=section&id=Six%20Months%20Ended%20June%2030,%202025) Six-month 2025 net interest income increased to **$36.7 million**, with NIM expanding to **4.89%**, primarily due to reduced interest expense from repaid BTFP borrowings | Metric | H1 2025 | H1 2024 | Change | | :--- | :--- | :--- | :--- | | Net Interest Income | $36.7 million | $35.9 million | +$860 thousand | | Net Interest Margin | 4.89% | 4.76% | +13 bps | - Total interest expense decreased by **$824 thousand**, mainly due to a **$2.5 million** decline in interest on BTFP borrowings, which were fully repaid[41](index=41&type=chunk) - Interest paid on deposits increased by **$1.7 million**, as the average rate paid on interest-bearing deposits rose to **1.21%** from **0.79%** YoY[42](index=42&type=chunk) [Non-Interest Income/Expense](index=7&type=section&id=Non-Interest%20Income%2FExpense) Q2 2025 non-interest income increased while expenses rose due to merger costs; six-month non-interest income grew from a legal settlement, with expenses also increasing from merger-related costs [Three Months Ended June 30, 2025](index=7&type=section&id=Three%20Months%20Ended%20June%2030,%202025) Q2 2025 non-interest income increased to **$2.4 million**, while non-interest expense rose to **$11.0 million**, primarily due to merger-related and salary costs - Non-interest income increased by **$159 thousand**, with the largest contributor being a **$184 thousand** positive adjustment to the value of stock holdings in a correspondent bank[44](index=44&type=chunk) - Non-interest expense increased by **$616 thousand**, driven by **$481 thousand** in merger-related expenses and a **$270 thousand** increase in salaries and benefits[45](index=45&type=chunk) [Six Months Ended June 30, 2025](index=7&type=section&id=Six%20Months%20Ended%20June%2030,%202025) Six-month 2025 non-interest income increased to **$5.6 million** due to a legal settlement, while non-interest expense rose to **$22.5 million** from merger, salary, and occupancy costs - Non-interest income increased by **$1.2 million**, primarily due to a **$1.1 million** legal settlement related to the 2021 Dixie Fire[46](index=46&type=chunk) - Non-interest expense increased by **$1.7 million**, with the largest components being **$1.1 million** in merger expenses and **$784 thousand** in higher salary and benefit costs[47](index=47&type=chunk) [Financial Statements and Supplementary Data](index=9&type=section&id=Financial%20Statements%20and%20Supplementary%20Data) [Condensed Consolidated Balance Sheets](index=9&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets slightly decreased, while liabilities shifted from borrowings to deposits, and shareholders' equity significantly increased | (In thousands) | June 30, 2025 | June 30, 2024 | Change | | :--- | :--- | :--- | :--- | | **Total Assets** | **$1,628,517** | **$1,642,097** | **-$13,580** | | Loans, net | $1,006,873 | $986,517 | +$20,356 | | Total Deposits | $1,366,827 | $1,304,587 | +$62,240 | | Borrowings | $15,000 | $120,000 | -$105,000 | | **Total Liabilities** | **$1,435,438** | **$1,476,942** | **-$41,504** | | **Shareholders' Equity** | **$193,079** | **$165,155** | **+$27,924** | [Condensed Consolidated Statements of Income](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Q2 2025 net income decreased to **$6.3 million**, while six-month net income increased to **$13.5 million**, driven by higher non-interest income and lower credit loss provisions For the Three Months Ended June 30 | (In thousands) | 2025 | 2024 | % Change | | :--- | :--- | :--- | :--- | | Net interest income | $18,183 | $18,405 | -1.2% | | Provision for credit losses | $860 | $925 | -7.0% | | Non-interest income | $2,361 | $2,202 | +7.2% | | Non-interest expense | $11,012 | $10,396 | +5.9% | | **Net income** | **$6,321** | **$6,786** | **-6.9%** | For the Six Months Ended June 30 | (In thousands) | 2025 | 2024 | % Change | | :--- | :--- | :--- | :--- | | Net interest income | $36,722 | $35,862 | +2.4% | | Provision for credit losses | $1,110 | $1,746 | -36.4% | | Non-interest income | $5,574 | $4,342 | +28.4% | | Non-interest expense | $22,477 | $20,793 | +8.1% | | **Net income** | **$13,501** | **$13,040** | **+3.5%** | [Selected Financial Information](index=11&type=section&id=Selected%20Financial%20Information) This section details performance, credit quality, and capital ratios, highlighting deteriorating asset quality, strong capital, and a shift in loan composition towards commercial real estate Performance Ratios (Annualized) | Ratio | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Return on average assets | 1.56% | 1.67% | 1.67% | 1.61% | | Return on average equity | 13.4% | 17.1% | 14.7% | 16.7% | | Net interest margin | 4.83% | 4.89% | 4.89% | 4.76% | | Efficiency ratio | 53.6% | 50.4% | 53.1% | 51.7% | Credit Quality Ratios | Ratio (as of) | 6/30/2025 | 6/30/2024 | | :--- | :--- | :--- | | Allowance for credit losses / total loans | 1.39% | 1.41% | | Nonperforming assets / total assets | 0.84% | 0.56% | Plumas Bank Regulatory Capital Ratios | Ratio (as of) | 6/30/2025 | 6/30/2024 | | :--- | :--- | :--- | | Tier 1 Leverage Ratio | 12.7% | 11.3% | | Common Equity Tier 1 Ratio | 17.9% | 16.4% | | Total Risk-Based Capital Ratio | 19.2% | 17.6% | Loan Distribution | Loan Type | % of Total (6/30/2025) | % of Total (6/30/2024) | | :--- | :--- | :--- | | Commercial Real Estate | 66.1% | 59.0% | | Agricultural | 11.2% | 12.4% | | Commercial | 8.0% | 8.1% | | Auto | 5.1% | 8.1% | Deposit Distribution | Deposit Type | % of Total (6/30/2025) | % of Total (6/30/2024) | | :--- | :--- | :--- | | Non-interest bearing | 48.9% | 51.4% | | Savings | 21.2% | 24.7% | | Money Market | 20.6% | 16.4% | | Time | 9.3% | 7.5% |

Core Viewpoint - Plumas Bancorp reported a decrease in net income and earnings per share for the second quarter of 2025 compared to the same period in 2024, while showing an increase in net income for the first half of 2025 compared to the first half of 2024. The company also completed the acquisition of Cornerstone Community Bancorp, which is expected to enhance its market presence and operational efficiency. Financial Performance - Net income for Q2 2025 was $6.3 million or $1.07 per share, down from $6.8 million or $1.15 per share in Q2 2024 [1] - Diluted earnings per share decreased to $1.05 in Q2 2025 from $1.14 in Q2 2024 [1] - For the first half of 2025, net income was $13.5 million or $2.28 per share, an increase from $13.0 million or $2.21 per share in the first half of 2024 [6] Return on Assets and Equity - Return on average assets was 1.56% in Q2 2025, down from 1.67% in Q2 2024 [2] - Return on average equity decreased to 13.4% in Q2 2025 from 17.1% in Q2 2024 [2] - For the first half of 2025, return on average assets was 1.67%, up from 1.61% in the first half of 2024, while return on average equity decreased to 14.7% from 16.7% [7] Income Statement Highlights - Net interest income decreased by $222 thousand to $18.2 million in Q2 2025 from $18.4 million in Q2 2024 [3] - Non-interest income increased by $159 thousand to $2.4 million in Q2 2025, compared to $2.2 million in Q2 2024 [3][47] - Non-interest expense increased by $616 thousand to $11.0 million in Q2 2025, with $481 thousand attributed to merger-related costs [4][48] Balance Sheet Highlights - Gross loans increased by $21 million, or 2%, to $1.0 billion as of June 30, 2025 [13][15] - Total deposits increased by $62 million to $1.4 billion as of June 30, 2025, with significant increases in money market accounts and time deposits [17][20] - Total equity increased by $28 million, or 17%, to $193 million as of June 30, 2025 [20][26] Asset Quality - Nonperforming assets increased to $13.7 million, or 0.84% of total assets, as of June 30, 2025, up from $9.1 million or 0.56% in June 2024 [19] - Nonperforming loans increased to $13.6 million, representing 1.34% of total loans, up from 0.90% in June 2024 [21] Acquisition and Strategic Developments - The company completed the acquisition of Cornerstone Community Bancorp on July 1, 2025, which is expected to enhance its operational capabilities and market presence [4][14] - The company is expanding its treasury management services and refining its lending processes to improve efficiency [14]

Core Viewpoint - Plumas Bancorp reported a decrease in net income and earnings per share for the second quarter of 2025 compared to the same period in 2024, while showing an increase in net income for the first half of 2025 compared to the first half of 2024. Financial Performance - Net income for Q2 2025 was $6.3 million or $1.07 per share, down from $6.8 million or $1.15 per share in Q2 2024 [1] - Diluted earnings per share decreased to $1.05 in Q2 2025 from $1.14 in Q2 2024 [1] - For the first half of 2025, net income was $13.5 million or $2.28 per share, an increase from $13.0 million or $2.21 per share in the first half of 2024 [6] Return Metrics - Return on average assets was 1.56% in Q2 2025, down from 1.67% in Q2 2024 [2] - Return on average equity decreased to 13.4% in Q2 2025 from 17.1% in Q2 2024 [2] - For the first half of 2025, return on average assets was 1.67%, up from 1.61% in the first half of 2024, while return on average equity decreased to 14.7% from 16.7% [7] Income Statement Highlights - Net interest income decreased by $222 thousand to $18.2 million in Q2 2025 from $18.4 million in Q2 2024 [3] - Non-interest income increased by $159 thousand to $2.4 million in Q2 2025 from $2.2 million in Q2 2024 [3][49] - Non-interest expense increased by $616 thousand to $11.0 million in Q2 2025 from $10.4 million in Q2 2024, with $481 thousand related to merger costs [4][50] Balance Sheet Highlights - Gross loans increased by $21 million, or 2%, to $1.0 billion as of June 30, 2025 [13] - Total deposits increased by $62 million, or 5%, to $1.4 billion as of June 30, 2025 [17] - Total equity increased by $28 million, or 17%, to $193 million as of June 30, 2025 [20] Asset Quality - Nonperforming assets increased to $13.7 million, or 0.84% of total assets, as of June 30, 2025, up from $9.1 million or 0.56% in June 2024 [19] - Nonperforming loans increased to $13.6 million as of June 30, 2025, compared to $9.0 million in June 2024 [21] Acquisition and Strategic Developments - The company completed the acquisition of Cornerstone Community Bancorp on July 1, 2025, which is expected to enhance its market presence [4][14] - The company is expanding its treasury management services and refining its lending processes to improve efficiency [14]

Company Overview - Plumas Bancorp (PLBC) shares increased by 5.5% to close at $46.92, supported by higher trading volume compared to normal sessions [1] - The stock has gained 3.7% over the past four weeks [1] Merger Impact - The stock's rally is attributed to the completion of its merger with Cornerstone Community Bancorp, which has made investors optimistic [2] - The merger combines Plumas Bank's advanced technology with Cornerstone's local expertise, resulting in a company with nearly $2.3 billion in total assets and 19 banking branches across 11 counties in Northern California and Nevada [2] Earnings Expectations - Plumas Bancorp is projected to report quarterly earnings of $1.20 per share, reflecting a year-over-year increase of 5.3% [3] - Expected revenues for the upcoming quarter are $20.95 million, up 1.7% from the previous year [3] Earnings Estimate Trends - The consensus EPS estimate for Plumas Bancorp has remained stable over the last 30 days, indicating no recent revisions [4] - The stock's price typically does not continue to rise without trends in earnings estimate revisions, suggesting the need for monitoring future performance [4] Industry Context - Plumas Bancorp is categorized under the Zacks Banks - West industry, where CVB Financial (CVBF) also operates [4] - CVB Financial's stock closed 3.6% higher at $20.51, with a 7.6% return over the past month [4]

Core Viewpoint - Plumas Bancorp has successfully completed the acquisition of Cornerstone Community Bancorp, enhancing its market presence and service offerings in northern California [1][2][3]. Transaction Details - The merger agreement stipulated that each share of Cornerstone common stock was converted into 0.6608 shares of Plumas common stock and $9.75 in cash, with a total deal value of approximately $61.3 million based on Plumas's stock price of $44.46 on June 30, 2025 [2]. - The merger became effective on July 1, 2025, with Cornerstone Community Bank merging into Plumas Bank [1]. Leadership Changes - Ken Robison, a director from Cornerstone, has been appointed to the board of directors of Plumas and Plumas Bank [3]. - Matthew B. Moseley, former President and CEO of Cornerstone, will serve as Executive Vice President and Market President at Plumas Bank [4]. Strategic Goals - The acquisition aims to integrate Cornerstone's local expertise with Plumas's advanced technology and small business solutions, enhancing service offerings to communities [3][5]. - Both Robison and Moseley expressed commitment to community growth and innovation in financial solutions for small businesses and families [5]. Financial Position - As of March 31, 2025, Cornerstone had total assets of $648 million, total loans outstanding of $492 million, and total deposits of $572 million [4]. - Post-merger, Plumas's pro forma combined total assets are approximately $2.3 billion, total loans outstanding are about $1.5 billion, and total deposits are around $1.9 billion [6].

Financial Performance - The company's total assets reached $1.6 billion as of June 30, 2024 [12] - Net income for the second quarter of 2024 was $6.786 million, a 1.9% increase compared to $6.660 million in the second quarter of 2023 [80] - Net interest income for the second quarter of 2024 increased by 6.8% to $18.405 million from $17.239 million in the second quarter of 2023 [80] - The net interest margin for 2023 was 4.71%, driven by higher rates and strategic investments [30] - In 2023, net income increased by 12.6% to $29.776 million [82] Deposits and Loans - As of June 30, 2024, non-interest-bearing deposits accounted for 51% of total deposits [45] - The average interest-bearing deposit rate was 0.84% for the three months ended June 30, 2024 [44] - Total loans reached $997 million as of June 30, 2024 [58] - Agricultural lending balances represented 12.5% of total loans as of June 30, 2024 [71] Investments and Borrowings - The investment portfolio totaled $445 thousand [41] - Securities totaling $115 million were sold in 1Q24, resulting in a $19.8 million loss [41] - Outstanding BTFP borrowings amounted to $105 million with a rate of 4.85% [55]