PLUMAS BANCORP ACQUIRES CORNERSTONE COMMUNITY BANCORP

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].