Plumas Bancorp(PLBC) - 2024 Q1 - Quarterly Results

The 2023 quarter included a one-time gain of $1.7 million on termination of interest rate swaps. Excluding this gain, non-GAAP income for the first quarter of 2023 would have been $6.4 million, resulting in diluted earnings per share of $1.08 and return on average assets of 1.63%. Quarter-over-quarter results reflect the termination of interest rate swaps resulting in a one-time gain in the first quarter of 2023. Non-performing loans are well-collateralized, and we expect resolution on significant amounts i ...