Group 1 - Plumas Bancorp (PLBC) reported quarterly earnings of $1.29 per share, exceeding the Zacks Consensus Estimate of $1.15 per share, and showing a slight increase from $1.27 per share a year ago, resulting in an earnings surprise of 12.17% [1] - The company achieved revenues of $21.16 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 3.22%, compared to $20.01 million in the same quarter last year [2] - Over the last four quarters, Plumas Bancorp has surpassed consensus EPS estimates three times and has also topped consensus revenue estimates three times [2] Group 2 - The stock has underperformed the market, losing about 5.4% since the beginning of the year, while the S&P 500 has declined by only 0.7% [3] - The current consensus EPS estimate for the upcoming quarter is $1.01 on revenues of $19.8 million, and for the current fiscal year, it is $4.45 on revenues of $80.8 million [7] - The Zacks Industry Rank for Banks - West is currently in the bottom 43% of over 250 Zacks industries, indicating potential challenges for stock performance [8] Group 3 - The estimate revisions trend for Plumas Bancorp is mixed, leading to a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Financial Performance - Plumas Bancorp reported Q4 2024 net income of $7.7 million, or $1.31 per share, up from $7.5 million, or $1.28 per share in Q4 2023[1]. - For the year ended December 31, 2024, net income was $28.6 million, or $4.85 per share, a decrease from $29.8 million, or $5.08 per share in 2023[2]. - The company's net income for the year ended December 31, 2024, was $28.6 million, a decrease of $1.2 million, or 3.9%, from $29.8 million in 2023[49]. - Net income for the three months ended December 31, 2024, was $7,749 thousand, up $228 thousand or 3.0% from $7,521 thousand in 2023[51]. - Basic earnings per share increased to $1.31, a rise of $0.03 or 2.3% from $1.28 in the prior year[53]. Loan and Deposit Growth - Gross loans increased by $57 million, or 6%, to $1 billion, with significant growth in commercial real estate loans[4]. - Total deposits rose by $37 million, or 3%, to $1.4 billion, with 51% of deposits being non-interest-bearing[8]. - The average balance of loans increased by $55 million, or 5.9%, from $934 million in 2023 to $989 million in 2024[32]. - Total deposits increased to $1,371,101 million in 2024 from $1,333,655 million in 2023, marking a growth of approximately 2.8%[71]. - Money market deposits rose to $267,582 million in 2024, up from $214,185 million in 2023, reflecting a growth of approximately 25%[71]. Interest Income and Expenses - Net interest income for Q4 2024 was $19.0 million, an increase of $1.3 million from Q4 2023, driven by higher interest income[24]. - Interest income for the year ended December 31, 2024, increased by $9.7 million, or 13.0%, to $84.3 million from $74.6 million in 2023[49]. - Interest expense surged by $5.8 million, or 121.6%, from $4.8 million in 2023 to $10.6 million in 2024, primarily due to increased rates on interest-bearing liabilities[49]. - The average rate paid on interest-bearing deposits increased from 0.55% in 2023 to 0.92% in 2024[35]. - The average yield on loans increased to 6.21% in 2024 from 5.89% in 2023[59]. Asset Management - Total assets as of December 31, 2024, increased by $12.9 million, or 0.8%, to $1.623 billion from $1.610 billion in 2023[47]. - The company's total assets grew to $1,649,341 thousand in 2024, compared to $1,587,149 thousand in 2023, an increase of 3.9%[59]. - Total interest-earning assets increased to $1,537,032 thousand in 2024 from $1,482,837 thousand in 2023, representing a growth of 3.7%[59]. Non-Interest Income and Expenses - Non-interest income decreased by $1.9 million, or 18.1%, to $8.8 million in 2024 from $10.7 million in 2023[39]. - Total non-interest expense increased by $4.7 million, or 12.6%, to $42.3 million in 2024 compared to $37.5 million in 2023[40]. - Total non-interest income decreased to $8,780 thousand in 2024, down from $10,722 thousand in 2023, a decline of 18.1%[67]. - Total non-interest expense increased to $42,274 thousand in 2024, compared to $37,530 thousand in 2023, marking a rise of 12.6%[68]. Asset Quality - Nonperforming assets decreased to $4.3 million, or 0.27% of total assets, down from $5.3 million, or 0.33% in 2023[11]. - The allowance for credit losses as a percentage of total loans was 1.30% as of December 31, 2024, slightly down from 1.34% in 2023[53]. Shareholder Equity - Shareholders' equity increased by $31 million, or 21%, to $178 million, driven by net income and a decline in accumulated other comprehensive loss[4]. - Cash dividends paid per share increased to $1.08 for the year ended December 31, 2024, compared to $1.00 in 2023[53]. Future Outlook - The company anticipates improved loan demand and deposit stabilization due to projected Federal Reserve rate cuts[5].

Core Insights - Plumas Bancorp reported a net income of $28.6 million or $4.85 per share for the year ended December 31, 2024, a decrease from $29.8 million or $5.08 per share in 2023 [2] - The company experienced an increase in net interest income by $3.9 million for the year, but non-interest income decreased by $1.9 million [28][36] - The annualized return on average assets decreased to 1.74% in 2024 from 1.88% in 2023, while the return on average equity fell from 23.4% to 17.2% [2][50] Financial Performance - For Q4 2024, net income was $7.7 million or $1.31 per share, up from $7.5 million or $1.28 per share in Q4 2023 [1] - The annualized return on average assets was 1.87% for Q4 2024, unchanged from Q4 2023, while the return on average equity decreased to 17.1% from 23.9% [1][50] - Net interest income for Q4 2024 was $19.0 million, an increase of $1.3 million from the same period in 2023 [23] Balance Sheet Highlights - Gross loans increased by approximately $57 million, or 6%, from $959 million at December 31, 2023, to $1.0 billion at December 31, 2024 [5][6] - Total deposits increased by $37 million, or 3%, to $1.4 billion at December 31, 2024 [6][8] - Shareholders' equity rose by $31 million, or 21%, to $178 million at December 31, 2024 [6][18] Asset Quality - Nonperforming assets decreased to $4.3 million at December 31, 2024, from $5.3 million at December 31, 2023 [10] - Nonperforming loans as a percentage of total loans decreased to 0.40% from 0.50% year-over-year [10][51] - The allowance for credit losses totaled $13.2 million at December 31, 2024, compared to $12.9 million at the end of 2023 [12][50] Non-Interest Income and Expense - Non-interest income for the year ended December 31, 2024, totaled $8.8 million, a decrease of $1.9 million from 2023 [36] - Total non-interest expense increased by $4.7 million to $42.3 million for the year, with significant increases in salary and benefit expenses and occupancy costs [37] - For Q4 2024, non-interest expense rose by $890 thousand to $10.7 million, driven by higher salary and benefit expenses and increased occupancy costs [35] Management Commentary - The CEO highlighted strong performance and loan growth, particularly in SBA loan production, and noted the bank's recognition with awards and its listing on the Russell 2000 index [4] - The bank anticipates improved loan demand and deposit stabilization due to projected Federal Reserve rate cuts [4]

Core Points - Terrance J. Reeson retired from the Board of Directors of Plumas Bancorp and Plumas Bank after 40 years of service, effective December 31, 2024 [1] - Reeson was appointed to the Plumas Bank Board in 1984 and served as board secretary for over 30 years, participating in various board committees including Audit & Risk, Executive, and Governance & Compensation [2] - Chairman Daniel E. West acknowledged Reeson's significant contributions over the past four decades, emphasizing his impact on the organization [3] - Reeson expressed confidence in the current Board of Directors' ability to continue advancing Plumas Bancorp's strategic initiatives and enhancing community quality of life while driving shareholder value [3] Company Overview - Plumas Bancorp is a bank holding company headquartered in Reno, Nevada, and is the parent company of Plumas Bank [3] - Plumas Bank, founded in 1980 and headquartered in Quincy, California, is a locally managed community bank with 15 branch offices in Northeastern California and Northern Nevada, as well as loan production offices in California and southern Oregon [3] - The bank has an asset size exceeding $1.6 billion and is recognized as one of the top-performing community banks in the country [3]

Company: Plumas Bancorp - The consensus EPS estimate for Plumas Bancorp has remained unchanged over the last 30 days, indicating stability in earnings expectations [1] - Shares of Plumas Bancorp rallied 5.4% in the last trading session, closing at $48.65, with notable trading volume compared to typical sessions [5] - The stock has experienced a 1.6% loss over the past four weeks, suggesting recent volatility [5] - The company is expected to post quarterly earnings of $1.15 per share, reflecting a year-over-year change of -9.5%, while revenues are projected to be $20.5 million, up 2.5% from the previous year [6] Industry: Banking - Bank stocks are currently in focus as interest rates are expected to gradually decrease, which may support economic growth and lending scenarios [3] - Plumas Bancorp is part of the Zacks Banks - West industry, which includes First Hawaiian, another stock that closed 1.1% higher at $25.48, but has returned -7.7% in the past month [7] - Empirical research indicates a strong correlation between trends in earnings estimate revisions and near-term stock price movements, highlighting the importance of monitoring these trends [4]

Financial Performance - Net income for the quarter was $7,830 thousand, slightly down from $7,970 thousand in the same quarter of 2023, a decrease of 1.8%[4] - Net income for the quarter ended September 30, 2024, was $20,870,000, a decrease of 6.2% from $22,255,000 for the same period in 2023[6] - Total comprehensive income for the quarter ended September 30, 2024, was $38,617,000, compared to $5,346,000 for the same period in 2023[6] - Net income for the nine months ended September 30, 2024, was $20.9 million, down from $22.3 million for the same period in 2023, reflecting a decrease of 6.3%[114] - Net interest income after provision for credit losses was $19,270 thousand for the quarter ended September 30, 2024, up from $17,939 thousand for the same period in 2023, reflecting an increase of 7.4%[4] - Net interest income increased by $2.6 million to $54.7 million for the nine months ended September 30, 2024, driven by an increase in interest income of $8.0 million, partially offset by a $5.4 million increase in interest expense[116] Assets and Liabilities - Total assets increased to $1,663,974 thousand as of September 30, 2024, compared to $1,610,416 thousand at December 31, 2023, representing a growth of 3.3%[2] - Total deposits increased to $1,350,996 thousand as of September 30, 2024, compared to $1,333,655 thousand at December 31, 2023, an increase of 1.3%[2] - The total outstanding loans increased to $1,003,488,000 as of September 30, 2024, up from $958,564,000 at December 31, 2023, representing a growth of approximately 4.7%[33] - Cash and cash equivalents at the end of the period increased to $117,959,000 as of September 30, 2024, from $90,567,000 at the end of the same period in 2023[13] - The total carrying amount of deposits was $1,350,996,000 as of September 30, 2024[89] Equity and Dividends - Total shareholders' equity rose to $181,942 thousand as of September 30, 2024, compared to $147,317 thousand at December 31, 2023, an increase of 23.5%[2] - Retained earnings increased to $167,846 thousand as of September 30, 2024, from $151,748 thousand at December 31, 2023, a growth of 10.6%[2] - Cash dividends on common stock increased to $0.27 per share for the nine months ended September 30, 2024, up from $0.25 per share in the same period of 2023[8] - The Company paid a quarterly cash dividend of $0.27 per share on August 15, 2024, May 15, 2024, and February 15, 2024, and a quarterly cash dividend of $0.25 per share on November 15, 2023, and previous dates[188] Credit Losses and Provisions - The allowance for credit losses was $13,606 thousand as of September 30, 2024, compared to $12,867 thousand at December 31, 2023, reflecting an increase of 5.7%[2] - The provision for credit losses for the first nine months of 2024 was $1,346,000, down from $2,675,000 in the same period in 2023[126] - The allowance for credit losses totaled $13.6 million at September 30, 2024, compared to $12.9 million at December 31, 2023, with an allowance as a percentage of total loans at 1.35%[165] Loan Portfolio - Total loans amounted to $1,006,676 thousand, a decrease from $1,162,264 thousand in the previous period[40] - Non-performing loans totaled $1,137 thousand, an increase from $242 thousand[40] - Total past due loans amounted to $17,707,000, with $8,758,000 past due for 30-59 days and $4,494,000 for 60-89 days[61] - The total loan portfolio at September 30, 2024, was $1,006,676,000, with current loans making up $988,969,000[61] Interest Income and Expense - Total interest income rose to $21,862 thousand for the quarter ended September 30, 2024, compared to $19,042 thousand in the prior year, marking an increase of 14.8%[4] - Interest expense for the nine months ended September 30, 2024, was $6,645,000, significantly higher than $2,224,000 for the same period in 2023[13] - Interest expense increased by $1.7 million to $3.0 million for the three months ended September 30, 2024, primarily due to higher rates on interest-bearing liabilities[138] Non-Interest Income and Expenses - Non-interest income for the nine months ended September 30, 2024, totaled $6.6 million, a decrease of $1.8 million from $8.4 million in 2023, primarily due to a $1.7 million gain on termination of interest rate swaps in 2023[128] - Non-interest expenses rose to $10,824 thousand for the quarter ended September 30, 2024, compared to $9,442 thousand in the same quarter of 2023, an increase of 14.6%[4] - Total non-interest expense increased by $3.9 million to $31.6 million for the nine months ended September 30, 2024, with significant increases in salary and benefit expenses ($1.1 million) and occupancy and equipment expenses ($1.7 million)[131] Capital Adequacy - Common Equity Tier 1 Ratio improved to 16.9% at September 30, 2024, from 15.7% at December 31, 2023, exceeding the minimum requirement of 4.5%[193] - Total Risk-Based Capital Ratio was 18.2% at September 30, 2024, compared to 16.9% at December 31, 2023, well above the minimum requirement of 8.0%[193] - Plumas Bank meets all capital adequacy requirements and maintains ratios above well-capitalized levels[194] Liquidity - The Company has access to $240 million in borrowing from the Federal Home Loan Bank, secured by commercial and residential mortgage loans totaling $426 million[182] - Liquidity is managed through competitive deposit rates and established lines of credit, ensuring funds for asset growth and customer needs[196] - The Company's securities portfolio and cash serve as primary liquidity sources, providing funding during high loan demand[199]

Plumas Bancorp (PLBC) came out with quarterly earnings of $1.31 per share, beating the Zacks Consensus Estimate of $1.14 per share. This compares to earnings of $1.34 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 14.91%. A quarter ago, it was expected that this company would post earnings of $1.09 per share when it actually produced earnings of $1.14, delivering a surprise of 4.59%. Over the last four quarters, the company ...

Exhibit 99.1 PLUMAS BANCORP REPORTS THIRD QUARTER 2024 EARNINGS Reno, Nevada, October 16, 2024 – Plumas Bancorp (Nasdaq:PLBC), the parent company of Plumas Bank, today announced earnings during the third quarter of 2024 of $7.8 million or $1.33 per share, a decrease of $140 thousand from $8.0 million or $1.36 per share during the third quarter of 2023. Diluted earnings per share decreased to $1.31 per share during the three months ended September 30, 2024 down from $1.34 per share during the quarter ended S ...

RENO, Nev., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Plumas Bank, a wholly-owned subsidiary of Plumas Bancorp, has recently been honored with multiple prestigious awards acknowledging its exceptional performance in serving clients, investors, and communities in northeastern California and northern Nevada. "For 44 years, we have partnered with businesses in our regions, helping them grow while providing stable returns to our investors, even through cycles of the national economy," said Andrew Ryback, President and ...

Reno, Nev., Sept. 03, 2024 (GLOBE NEWSWIRE) -- Plumas Bank, a wholly-owned subsidiary of Plumas Bancorp, is pleased to publish its 2024 Corporate Citizenship Report, providing investors, employees and partners an update about its efforts to instill best industry practices and forward-thinking investments in every aspect of the bank's operations. "Corporate citizenship is deeply embedded in our organization, and as we continue to grow, our actions will consistently align with our promise to help our clients ...