Core Insights - Plumas Bancorp reported a net income of $10.9 million or $1.58 per share for Q4 2025, an increase from $7.7 million or $1.31 per share in Q4 2024, driven by a rise in net interest income and non-interest income despite higher non-interest expenses and provisions [1][2] - For the full year 2025, net income was $29.6 million or $4.60 per share, a slight increase from $28.6 million or $4.85 per share in 2024, with diluted earnings per share decreasing to $4.54 from $4.80 [2] - The acquisition of Cornerstone Community Bancorp significantly impacted the balance sheet, with total assets increasing by 37.9% to $2.24 billion and gross loans rising by 49% to $1.5 billion [7][8][62] Financial Performance - Q4 2025 net interest income was $25.9 million, up $6.9 million from Q4 2024, primarily due to an increase in interest income [33] - For the year ended December 31, 2025, net interest income reached $87.8 million, an increase of $14.1 million from 2024, with interest income rising by 20.5% [42][63] - The annualized return on average assets was 1.93% for Q4 2025, compared to 1.87% in Q4 2024, while the return on average equity increased to 17.2% from 17.1% [1][2] Balance Sheet Highlights - Total deposits increased by $439 million, or 32%, to $1.8 billion as of December 31, 2025, with significant growth in demand deposits and money market accounts [15][62] - Shareholders' equity rose by $83 million, or 46.8%, to $261 million, driven by earnings and stock issued during the Cornerstone acquisition [27][62] - The company’s total investment securities increased by $39 million to $477 million, with a decrease in unrealized losses on investment securities [17][62] Asset Quality - Nonperforming assets rose to $15.3 million, or 0.68% of total assets, up from $4.3 million or 0.27% in the previous year, primarily due to issues with a single agricultural loan relationship [18][20] - The provision for credit losses for 2025 was $6.8 million, significantly higher than $1.2 million in 2024, reflecting growth in the loan portfolio and the acquisition of Cornerstone [19][63] Strategic Initiatives - The acquisition of Cornerstone Community Bancorp was described as pivotal, enhancing the company's presence in Northern California and optimizing its balance sheet [4][7] - Management plans to focus on margin durability and cost-of-funds improvement while managing credit risk prudently [5][6] Non-Interest Income and Expenses - Non-interest income for Q4 2025 was $2.7 million, an increase of $503 thousand from Q4 2024, driven by a gain on the sale of administrative facilities [49] - Total non-interest expense increased by $3.6 million in Q4 2025, with significant contributions from salary and benefit expenses related to the acquisition [50] - For the year, non-interest income totaled $10.5 million, up $1.7 million, while non-interest expenses rose by $9.6 million to $51.9 million [51][52]

Core Points - Plumas Bancorp reported a net income of $5.1 million or $0.74 per share for Q3 2025, a decrease from $7.8 million or $1.33 per share in Q3 2024 [1] - The company completed the acquisition of Cornerstone Community Bank, which significantly impacted its financial results [3][9] Financial Performance - For the nine months ended September 30, 2025, net income was $18.6 million or $2.98 per share, down from $20.9 million or $3.54 per share in the same period of 2024 [2] - Net interest income increased by $6.3 million in Q3 2025, totaling $25.2 million, while the provision for credit losses rose by $5.8 million [1][32] - The annualized return on average assets decreased to 0.90% in Q3 2025 from 1.84% in Q3 2024, and return on average equity fell from 18.1% to 8.5% [1] Acquisition Details - The acquisition of Cornerstone Community Bank included total assets of $658 million, gross loans of $478 million, and deposits of $580 million [3] - Goodwill from the acquisition was recorded at $18.7 million, with a core deposit intangible of $11.6 million [3] Balance Sheet Highlights - Total assets increased by 34% to $2.23 billion as of September 30, 2025, compared to $1.66 billion a year earlier [57] - Gross loans rose by 49% to $1.5 billion, while total deposits increased by 35% to $1.8 billion [11][13][14] Non-Interest Income and Expenses - Non-interest income for Q3 2025 was $2.2 million, a slight increase from the previous year, with notable gains from the acquisition [46] - Non-interest expenses rose by $4.3 million to $15.1 million, driven by merger-related costs and increased salary expenses [47] Asset Quality - Nonperforming assets increased to $15.2 million, representing 0.68% of total assets, up from 0.29% a year prior [16] - The provision for credit losses for the first nine months of 2025 was $6.5 million, significantly higher than $1.3 million in the same period of 2024 [17] Shareholders' Equity - Total shareholders' equity increased by $64 million to $246 million as of September 30, 2025, reflecting earnings and stock issued during the acquisition [21]

Core Points - Plumas Bancorp reported third-quarter 2025 earnings of $5.1 million or $0.74 per share, a decrease from $7.8 million or $1.33 per share in the same quarter of 2024 [1] - The annualized return on average assets fell to 0.90% from 1.84% year-over-year, while the return on average equity decreased from 18.1% to 8.5% [1] - The company completed the acquisition of Cornerstone Community Bank, which significantly impacted its financial results [3][9] Financial Performance - For the nine months ended September 30, 2025, net income was $18.6 million or $2.98 per share, down from $20.9 million or $3.54 per share in the same period of 2024 [2] - Net interest income increased by $6.3 million in Q3 2025, totaling $25.2 million, while the provision for credit losses rose by $5.8 million [1][33] - Non-interest income for Q3 2025 was $2.2 million, a slight increase from the previous year, with notable gains from the acquisition [48] Acquisition Details - The acquisition of Cornerstone Community Bank added $658 million in total assets, $478 million in gross loans, and $580 million in deposits [3] - Goodwill from the acquisition amounted to $18.7 million, with a core deposit intangible of $11.6 million [3] - The acquisition resulted in various non-recurring expenses totaling $6.2 million for Q3 2025 [4] Balance Sheet Highlights - Total assets increased by 34% to $2.23 billion as of September 30, 2025, compared to $1.66 billion a year earlier [61] - Gross loans rose by 49% to $1.5 billion, while total deposits increased by 35% to $1.8 billion [11][13] - Shareholders' equity grew by 35% to $246 million, driven by earnings and stock issued during the acquisition [23] Asset Quality - Nonperforming assets increased to $15.2 million, representing 0.68% of total assets, up from 0.29% a year prior [17] - The provision for credit losses for the first nine months of 2025 was $6.5 million, significantly higher than $1.3 million in the same period of 2024 [18] Net Interest Income and Margin - Net interest margin for Q3 2025 was 4.83%, up from 4.76% in Q3 2024 [40] - Interest income from loans increased by $8.0 million, primarily due to growth in the loan portfolio related to the acquisition [34] - Interest expense rose to $4.6 million, largely due to the acquisition, with the average rate on interest-bearing liabilities increasing from 1.52% to 1.67% [37][39] Non-Interest Expense - Total non-interest expense for Q3 2025 was $15.1 million, an increase of $4.3 million from the previous year, driven by merger-related costs and increased salary expenses [49] - For the nine months ended September 30, 2025, non-interest expense totaled $37.6 million, up from $31.6 million in the same period of 2024 [51]