Plumas Bancorp · NASDAQ:PLBC
Plumas Bancorp — Merger or Acquisition (March 2021)
11 slides from Plumas Bancorp's merger presentation, Mar 11, 2021
Slide 1: Acquisition of Feather River Bancorp, Inc.
yh ; 9) ae < oe PLUMAS BANCORP ACQUISITION OF FEATHER RIVER BANCORP, INC. MARCH 11, 2021
Slide 2: Forward Looking Statements Disclaimer
PLUMAS! Forward Looking Statements Disclaimer This presetation dos not consis on ofr to sellor the solicationof in ofr to buy any secures ora olictatin of ny vot rsporoval Investors ad scuny holders are urged to carefully revew and consider each of Plumass publ ings withthe SEC, incusig but not lied
Slide 3: Transaction Highlights
et -ORP Transaction Highlights ‘© Market expansion opportunity into attractive Northern Califor markets Attractive eh ‘© Strong cultural fit with well trained and talented staff Strategic Rationale © Low-isk, in-state near-market transaction limits integration complexity ‘© Enhances scale with logic
Slide 4: Feather River Bancorp, Inc.
Feather River Bancorp, Inc. Headquarters: Yuba City, CA Total Assets: $182 million Total Equity: $17.4 million NPAS/Assets: 0.00% ROAA: 1.21% Efficiency Ratio: 58.2% NIM: 4.26% rem 2 Feuer iver
Slide 5: Consideration
Consideration: @ Approximately $21.3 mi @ 75% Stock | 25% Cash {@” 598,129 PLBC common shares and $4.7 million in cash deal value, or $17.42 per share(?) Pricing Multiples: ‘© Price / Tangible book value per share: 1.22x io Price / LIM EPS: 10.2x Pro Forma Ownership: » 90% PLBC | 10% Feather River T
Slide 6: Key Merger Assumptions
Key Merger Assumptions: = Estimated cost savings: 30%, with 65% realized in 2021 and 100% thereafter @ Core deposit intangible: 0.50% of non-time deposits @ Gross loan mark: 1.50% @ Pre-tax merger related expenses: $4.7 million Financial Impact: @” TBV Earn-back: less than two years «= EPS Accretion
Slide 7: Comprehensive Due Diligence Process
et -ORP Comprehensive Due Diligence Process 31 party credit review, in ad n to internal review Comprehensive process including business, operational, credit, financial, legal, HR and regulatory Extensive di snce and discussion period Detailed review of cost structure, interest rate risk, and growth
Slide 8: Pro Forma Loan Composition
et ORP Pro Forma Loan Composition tan rH Ene pecan of Total Loans: $710,697 Total Loans: $155,284 Total Loans: $865,981 Yield on Loans: 5.43% Yield on Loans: 5.34% Yield on Loans: 5.41%
Slide 9: Pro Forma Deposit Composition
PLUMAS: BANCORP Pro Forma Deposit Composition amo cot umbocor ae bo cos — re + = a = Total Deposits: $974,388 Total Deposits: $154,588 Total Deposits: $1,128,976 Cost of Deposits: 0.07% Cost of Deposits: 0.28% Cost of Deposits: 0.10% Source:S8P Global Market intligence. Bank ollreport datas of Decem
Slide 10: Transaction summary
VU UT Veun Compelling strategic transaction Strong cultural fit Low risk transaction Enhanced scale and growth opportunities Attractive pro forma loan and deposit Favorable financial metrics
Slide 11: Plumas awards and recognition
ity Banks 2019 \e Nation 2017 % of Comn Bankers Cup — Recognizing t 24 Best Performing Con St Best P (publicly traded with assets between $500 millon and 0 bon) ‘By Roymond Jomes & Associates by Sondler OMe + Pores (wth assets under $3 bllon) By SRP Globo! Market Intligence he top 10% of Community B