Plumas Bancorp Reports Second Quarter 2024 Earnings

Bank Term Funding Program Interest expense increased from $984 thousand during the three months ended June 30, 2023 to $2.8 million during the current period related to an increase in rate paid on interest bearing liabilities and an increase in borrowings. The average rate paid on interest bearing liabilities increased from 0.56% during the 2023 quarter to 1.44% in 2024 related mainly to an increase in market interest rates, an increase in borrowings and the effect of a 4% time deposit promotion. Non-intere ...