Plumas Bancorp · NASDAQ:PLBC
Plumas Bancorp — Investor Presentation (April 2024)
28 slides from Plumas Bancorp's investor presentation, Apr 17, 2024
Slide 1: Investor Presentation, Updated Through March 31, 2024
PLUMAS BANCORP 4 - INVESTOR PRESENTATION : << UPDATED THROUGH MARCH 31, 2024
Slide 2: Forward Looking Statements Disclaimer
PLUMAS! BANCORP Forward Looking Statements Disclaimer ‘The statements contained herein thatare not historical facts are forward-looking statements based on management's currentexpecationsand belief concerning future developments and their potential effecs onthe Company, Such tatemerts Involve inhere
Slide 3: Contents
TPT EMTS TES Overview ManagementTeam usinessModel Net Income Nom-Interest Income ‘Sale Leasaback Transaction ‘Securities Investments Deposit Trends and Current Composition Deposit Detail Liguiity Borrowings Loan Trends andCurrant Composition Diversification of CRE Loansby PropertyType ‘Geographic Di
Slide 4: Overview
Carson Valley Overview NASDAQ Symbol: PLBC Total Assets: $1.6 billion Headquartered: Reno, NV BankBranches: 15 Year Established: 1980 PLUMAS: BANCORP
Slide 5: Plumas Bank Leadership
PLUMAS CORP Plumas Bank Leadership IndianValley Andrew Ryback Richard Belstock a \ President & CEO EVP Chief Financial Officer Years at Plumas Bank — 22 Years at Plumas Bank — 17 BJ North Aaron Boigon Jeff Moore EVP Chief Banking Officer EVP Chief Information Officer EVP Chief Credit Officer Years a
Slide 6: Business Model
PLUMAS "opeson BANCORP % Business Model he ‘ acrunas INS, \') 4 CALIFORNIA —~ “ts y (2... * Branch network of 15 full-service branches and 2 lending offices. ' susanvnse! Retail and commercial banking with emphasis on personalized relationships alongside online, mobile, and remote services. + Enhanc
Slide 7: The Big Picture
Rock The Big Picture
Slide 8: Net Income & Net Interest Margin
eee Frazier Creek * Increase of 13% in 2023 * Net Interest Income increased by $11.3 million * 2023 Net Interest Margin of 4.71% driven by higher rates, strategic investments, and low cost of funds. PLUMA: BANCORP $35,000 $30,000 $25,000 $20,000 Thousands $15,000 $10,000 $5,000 Net Income & Net Inte
Slide 9: Non-Interest Income
North Shore Lake Tahoe » Non-Interest Income streams comprised primarily of: © Service charges on deposit accounts © Interchange revenue * Loan servicing fees * Gain on sale of SBA loans declined due to reduced variable rate production in high-rate environment. » SBA production in 2023 consisted mos
Slide 10: Sale Leaseback Transaction
PLUMAS! BANCORP Sale Leaseback Transaction Qpranches 3aAdmin ° . Closed 02/14/24 Expected close 09/16/24 Valuation:$25.7 million Valuation: $7.9 million bas * Portola Branch Annual rent expense of Annual rent expense of $2.4 million{pretax) $0.7 million (pretax) . . 15-year leases with one 15-year r
Slide 11: Securities Investments
Securities Investments * Investment portfolio totaling $447 thousand is entirely available-for-sale. investment Parisha * Investment portfolio restructure: * Securities totaling$115 million sold in 1024 with weighted average TE yield of 2.24%, resulting in $19.8 million loss. © Offset branch sale le
Slide 12: Deposits and Loans
Lassen National Park Deposits and Loans
Slide 13: Deposit Trends and Current Composition
PLUMASE™” BANCORP Deposit Trends and Current Composition * Average interest-bearing deposit rate was 0.75% for the three months ended March 31, 2024. ° All core, no brokered deposits ghe8ae 8 Pa |: a | | nn Dec 31, Dec 31, Dec 31, Dec 31, Dec. 31, Mar. 31, 2019 2020 2021 2022 2023 2028 Balances as o
Slide 14: Deposit Detail
Deposit Detail Consumer vs Business Accounts Rate by Product Balances as of Mar. 34, 2024 Rates for three months ended March 31, 2024 100% 90% 80% 70% 60% 50% 40% Eo 20% 10% 0% Savings Money DDA Total Savings Money Time* Total Market Market Antes Cesare In mid-2023, $46 million in new 7-and 11-month
Slide 15: Liquidity
PLUMAS! BANCORP Liquidity Deposits in millions * No deposit concentrations. Average Uninsured but Collateralized, deposit balance was approximately $32 thousand at 03/31/24. * Largest unsecured deposit accounts are collateralized with investments. * Cash, unpledged AFS investments, and borrowing lin
Slide 16: Borrowings
Borrowings * Outstanding BTFP borrowings: Outstanding Borrowings * $105 million * Rate of 4.85% * Prepayable with no penalties * Due January 17, 2025 * Outstanding correspondent bank borrowings: * $15 million * Fixed rate of 3.85% for the first five years, then floating rate linked to WSJ Prime for
Slide 17: Loan Trends and Current Composition
PLUMAS” BANCORP Loan Trends and Current Composition * Closed indirect auto department in 4023. Balances expected to unwind over ~5 years. * Record level of loan balances * Portfolio average yield was 6.09% for the three months ended March 31, 2024. Home Equity $1,000 oo am $900 ‘$839 $800 a $700 an
Slide 18: Diversification of Commercial Real Estate Loans by Property Type
. _ . . PLUMAS: Diversification of Commercial BANCORP Real Estate Loans by Property Type 120.00,000.00 100,00,000.00 20,000,000.00 60.00,000.00 40,000,000.00 oes CCH | i =e — eS ss e mi eo & ra ns a vo & ‘f as ee e & cs oe 4 yy a ‘ ss A $ of & s a eS o s s Includes CRE/Investor, CRE/Owner and CRE/Mu
Slide 19: Geographic Distribution of Commercial Real Estate Loans
F Q : . PLUMAS! Geographic Distribution of BANCORP Commercial Real Estate Loans CALIFORNIA AND NEVADA ECONOMIC REGIONS CRE DISTRIBUTION BY REGION* 29% - NV- Western (pale green) 20% - CA- Greater Sacramento (yellow) 15% - CA- Northern Sacramento Valley (light green) 12% - CA- Northern (dark green) 6
Slide 20: Agricultural Loans
PLUMAS! BANCORP Agricultural Loans ¢ Agricultural lending balances represented . 12.6% of total loans as of 03/31/24. Ag Lending Balances Ag Equipment * Ag lending portfolio comprised of: * Cattle ° Hay * Orchard Crops (Fruits and Nuts) SeRice * Walnut pricing fell in 2022, resulting in about $16 mi
Slide 21: Classified Assets
PLUMAS! BANCORP Classified Assets OREO: $357 thousand + SFR 53-acre ranch Non-Accrual: $5.6 mi * 63% walnuts w/commodity pricing declines but sufficient collateralization * 15% loans under $100 thousand (excluding SBA, HELOC, Ag), comprised ‘of more than 90% indirect auto * 11% Home Equity Lines of
Slide 22: Financial Recap
‘Sunset on Lake Tahoe Financial Recap
Slide 23: First Quarter 2024 Financial Highlights
PLUMAS! BANCORP First Quarter 2024 Financial Highlights Dollars in thousands (Except per share) 03/31/2024 Net Income 6,254 Income Before Tax 8,379 Net Interest Income 17,457 Net Interest Margin 4.62% ROAA 1.55% ROAE 16.4% Diluted EPS 1.05 5 03/31/2023 7,626 10,325 17,149 4.64% 1.93% 25.0% 1.28 |$ C
Slide 24: 2023 Financial Highlights
PLUMAS! BANCORP Dollars in thousands (Except per share) 12/31/2023 12/31/2022 Change % Change Assets $ 1,610,416 $ 1,621,044 § (10,628) (0.7%) Deposits $ 1,333,655 $ 1,457,809 $ (124,154) (8.5%) Loans iS 958,564 911,949 5.11% Loans held for sale S$ 0 2,301 (100%) Net Income S$ 29,776 26,444 Income B
Slide 25: 2023 Financial Highlights – Five Year
PLUMAS! BAN 2023 Financial Highlights — Five Year Cave Rock Beach, Lake Tahoe Dollars in thousands (Except per share) 12/31/23 Assets $ 1,610,416 Deposits 1,333,655 Loans 958,564 Loans held for sale Nonperforming assets/total assets Net Income Net Interest Margin Efficiency ratio ROAA ROAE Book Valu
Slide 26: Recent Expansion Strategy
Rainbow Bridge, Donner Summit Recent Expansion Strategy PLUMAS” BANCORP - Apr‘16 (Opened LPO Klamath Falls, OR ‘| Purchased Rabo Bank’s Redding Branch Loan Production Office Modoc National Fogeet™, Dec ‘15 Opened | Reno Branch Acquiréd Bank) of Feather Oct ‘18 Purchased Mutual of Omaha Bank’s Carson
Slide 27: Strengths & Challenges
Strengths °Stable Leadership team eStrong core deposits utah *Low cost of funds Challenges Diversified loan portfolio * Growth opportunities eNon-Interest Income streams » Leadership succession °Ca pital ma nagement °Positioned for opportunity in disrupted environment PLUMAS: BANCORP
Slide 28: Recent Performance Based Awards
Buck in Modoc County, cA Recent Plumas Bancorp & Plumas Bank Performance Based Awards PLUMAS: BANCORP Bankers Cup — Recognizing the top 10% of Community Banks 3° Best Performing Community Bank in the Nation 2022 4° Best Performing Community Bank in the Nation 2021 3° Best Performing Community Bank i