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Plumas Bancorp Ranked 2nd Best Performing Community Bank in Nation for Two Consecutive Years
QUINCY, Calif., May 12, 2020 (GLOBE NEWSWIRE) -- Plumas Bancorp (NASDAQ:PLBC), the holding company (the “Company”) for Plumas Bank, recently announced that it
About this update from Plumas Bancorp
[{"type":"text","content":"QUINCY, Calif., May 12, 2020 (GLOBE NEWSWIRE) -- Plumas Bancorp (NASDAQ:PLBC), the holding company (the “Company”) for Plumas Bank, recently announced that it has again been awarded the prestigious Raymond James Bankers Cup and named the second best performing community bank in the nation for the second consecutive year. Raymond James evaluated 255 community banks on six financial performance and stability measures. Plumas Bancorp performed exceptionally well on the various profitability, operational efficiency and balance sheet metrics. For the Raymond James award, the Company was compared with publicly traded banks across the nation with assets between $500 million and $10 billion.\n In addition to the Raymond James award, Plumas Bank was also recognized by the Independent Community Bankers of America (ICBA) as a top performing community bank. ICBA recognized Plumas Bank for its focus on efficiency and personal service that builds strong lasting relationships as well as its 3-year average return on assets metric of 2.56%. For this award, Plumas Bank was compared nationwide with other community banks with assets between $300 million and $1 billion. Director, President and Chief Executive Officer, Andrew J. Ryback, commented, “We are honored to be recognized as a nationally top performing community bank. Both the Raymond James award and the ICBA award indicate that our 2019 performance has positioned us to weather the current economic challenges well. As of April 30, 2020, we had funded $60 million in Paycheck Protection Program (PPP) loan balances. In May we expect to fund over $50 million in additional PPP loans, helping close to one thousand different business clients in our communities. Additionally, we have worked with clients to defer loan payments on over $90 million in loan balances and donated $7,500 to our local food pantries. We are confident that we can continue to support our clients, communities and shareholders through the current challenges and the recovery.” About Plumas BankFounded in 1980, Plumas Bank is a locally owned and managed full-service community bank headquartered in northeastern California. The Bank operates thirteen branches: eleven located in the northern California counties of Plumas, Lassen, Placer, Nevada, Modoc and Shasta and two branches located in the northern Nevada counties of Washoe and Ca...