PLBC · Plumas Bancorp

Plumas Bancorp’s record Q1 2026 results reflect strong execution of its acquisition strategy following the July 1, 2025, closing of Cornerstone Community Bancorp, which materially expanded scale: gross loans grew 49% to $1.5 billion and deposits rose 29% to $1.8 billion. Net income increased 36% year-over-year to $9.8 million, supported by a $6.6 million increase in net interest income and a $330 thousand recovery of provision for credit losses—partially offset by higher non-interest expense ($3.8 million increase), including $726 thousand in fraud-related losses and acquisition integration costs. While ROA held nearly flat at 1.78%, ROE declined to 14.9% from 16.0%, reflecting elevated equity from the acquisition and retained earnings. Asset quality deteriorated meaningfully: nonperforming loans jumped to $14.2 million (0.94% of total loans), concentrated in a single $9.3 million agricultural relationship placed on nonaccrual in Q2 2025—though the allowance for credit losses remains well-covered at 1.29% of loans. Management emphasized capital strength, authorizing a $25 million buyback program and executing $2.0 million in repurchases during the quarter. The press release highlights disciplined capital management, leadership additions—including Kevin Kaiser as Chief Credit Officer—and continued focus on organic growth alongside acquisition integration. No forward guidance was provided in Exhibit 99.1 or the 8-K, and the filing explicitly disclaims incorporation into future SEC filings.