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]