--------- ---------
Total liabilities
& equity $1,650,819 $1,592,244
========= =========
Cost of funding
interest-earning
assets (4) 0.60% 0.50%
---------- ----------
Net interest income and
margin (5) $ 18,959 4.90% $ 17,667 4.74%
====== ======
(1) Not computed on a
tax-equivalent basis.
(2) Average nonaccrual loan balances of $4.3 million
for 2024 and $2.8 million for 2023 are included in
average loan balances for computational purposes.
(3) Net costs included in loan interest income for
the three-month periods ended December 31, 2024 and
2023 were $262 thousand and $368 thousand, respectively.
(4) Total annualized interest expense divided by the
average balance of total earning assets.
(5) Annualized net interest income divided by the
average balance of total earning assets.
PLUMAS BANCORP
SELECTED FINANCIAL INFORMATION
(Dollars in thousands)
(Unaudited)
The following table presents for the years indicated
the distribution of consolidated average assets, liabilities
and shareholders'
equity.
For the Year Ended For the Year Ended
12/31/2024 12/31/2023
-------------------------------- --------------------------------
Average Yield/ Average Yield/
Balance Interest Rate Balance Interest Rate
-------- --------
Interest-earning
assets:
Loans (2) (3) $ 989,313 $ 61,450 6.21% $ 933,997 $ 54,999 5.89%
Investment
securities 370,228 15,308 4.13% 338,941 11,525 3.40%
Non-taxable
investment
securities (1) 84,369 2,574 3.05% 123,002 3,681 2.99%
Interest-bearing
deposits 93,122 4,993 5.36% 86,897 4,387 5.05%
--------- ------ --------- ------
Total
interest-earning
assets 1,537,032 84,325 5.49% 1,482,837 74,592 5.03%
Cash and due from banks 27,077 26,100
Other assets 85,232 78,212
--------- ---------
Total assets $1,649,341 $1,587,149
========= =========
Interest-bearing
liabilities:
Money market
deposits 226,372 2,472 1.09% 227,819 1,367 0.60%
Savings deposits 324,000 705 0.22% 375,377 795 0.21%
Time deposits 96,131 2,739 2.85% 74,570 1,568 2.10%
--------- ------ --------- ------
Total deposits 646,503 5,916 0.92% 677,766 3,730 0.55%
Borrowings 97,691 4,676 4.79% 17,945 896 4.99%
Junior subordinated
debentures - - -% 2,268 141 6.22%
Other
interest-bearing
liabilities 19,119 42 0.22% 18,576 31 0.17%
--------- ------ --------- ------
Total
interest-bearing
liabilities 763,313 10,634 1.39% 716,555 4,798 0.67%
------ ------
Non-interest-bearing
deposits 684,909 726,191
Other liabilities 34,864 17,419
Shareholders' equity 166,255 126,984
--------- ---------
Total liabilities
& equity $1,649,341 $1,587,149
========= =========
Cost of funding
interest-earning
assets (4) 0.70% 0.32%
---------- ----------
Net interest income and
margin (5) $ 73,691 4.79% $ 69,794 4.71%
====== ======
(1) Not computed on a
tax-equivalent basis.
(2) Average nonaccrual loan balances of $4.4 million
for 2024 and $3.0 million for 2023 are included in
average loan balances for computational purposes.
(3) Net costs included in loan interest income for
the years ended December 31, 2024 and 2023 were $1.4
million and $1.3 million, respectively.
(4) Total annualized interest expense divided by the
average balance of total earning assets.
(5) Annualized net interest income divided by the
average balance of total earning assets.
PLUMAS BANCORP
SELECTED FINANCIAL INFORMATION
(Dollars in thousands)
(Unaudited)
The following table presents the components of non-interest
income for the three-month
periods ended
December 31,
2024 and
2023.
For the Three Months
Ended
December 31,
---------------------
Percentage
2024 2023 Dollar Change Change
------ ----- ------------- ------------
Interchange
income $ 806 $ 961 $ (155) (16.1)%
Service charges
on deposit
accounts 748 719 29 4.0%
Loan servicing
fees 192 194 (2) (1.0)%
FHLB Dividends 137 130 7 5.4%
Earnings on
life insurance
policies 104 104 - -%
Other 214 234 (20) (8.5)%
------ ----- --- ----
Total
non-interest
income $ 2,201 $ 2,342 $ (141) (6.0)%
====== ===== === ====
The following table presents the components of non-interest
expense for the three-month
periods ended
December 31,
2024 and
2023.
For the Three Months
Ended
December 31,
---------------------
Percentage
2024 2023 Dollar Change Change
------ ----- ------------- ------------
Salaries and
employee
benefits $ 5,614 $ 5,273 $ 341 6.5%
Occupancy and
equipment 1,979 1,357 622 45.8%
Outside service
fees 1,146 1,151 (5) (0.4)%
Advertising and
shareholder
relations 324 248 76 30.6%
Professional
fees 294 404 (110) (27.2)%
Armored car and
courier 225 209 16 7.7%
Deposit
insurance 188 185 3 1.6%
Business
development 174 158 16 10.1%
Telephone and
data
communication 166 200 (34) (17.0)%
Director
compensation
and expense 159 160 (1) (0.6)%
Loan collection
expenses 65 115 (50) (43.5)%
Amortization of
Core Deposit
Intangible 48 57 (9) (15.8)%
Other 275 250 25 10.0%
------ ----- --- ----
Total
non-interest
expense $ 10,657 $ 9,767 $ 890 9.1%
====== ===== === ====
PLUMAS BANCORP
SELECTED FINANCIAL INFORMATION
(Dollars in thousands)
(Unaudited)
The following table presents the components of
non-interest income for the years
ended
December 31,
2024 and
2023.
For the Year Ended
December 31,
------------------
Dollar Percentage
2024 2023 Change Change
------- ------ --------- ------------
Gain on sale of
buildings $ 19,854 $ - 19,854 100.0%
Interchange
income 3,130 3,419 (289) -8.5%
Service charges
on deposit
accounts 2,988 2,789 199 7.1%
Loan servicing
fees 756 872 (116) (13.3)%
FHLB Dividends 546 418 128 30.6%
Earnings on
life insurance
policies 409 417 (8) (1.9)%
Gain on sale of
loans, net 37 234 (197) (84.2)%
Gain on
termination of
swaps - 1,707 (1,707) (100.0)%
Loss on sale of
investment
securities (19,817) - (19,817) (100.0)%
(MORE TO FOLLOW) Dow Jones Newswires
January 15, 2025 09:00 ET (14:00 GMT)
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