QUINCY, Calif., July 31, 2023 (GLOBE NEWSWIRE) -- America’s banking system has experienced significant challenges in the past several years. The country saw its first bank failures since the Great Recession. Increased interest rates and supply chain challenges led to deposit outflows from many institutions. Businesses of all sizes continue to recover from the COVID-19 pandemic by reimagining and right-sizing their business models and operations.
Through this period, Plumas Bank has been consistently recognized as an industry leader in the banking sector, from local, regional and national entities including Raymond James & Associates; Keefe, Bruyette & Woods, Inc. (KBW); S&P Global; and many others. As a community bank, Plumas Bank has consistently reinvested in the communities where it operates and helped power the businesses that make those communities vibrant and sustainable.
“Our focus on building meaningful, lasting relationships with our clients has allowed Plumas Bank to thrive,” said Andrew Ryback, President and CEO of Plumas Bank. “We have continued to deliver excellent returns for our investors because we have made smart lending decisions focused on balancing growth with stability while always focusing on serving the communities where we operate in Nevada and northeast California. We are deeply humbled to have been consistently recognized for that performance with accolades and awards from major institutions.”
Plumas Bank continues to expand its geographic footprint to serve more clients in the business and agriculture sectors, including recently opening a new full-service branch in Chico, Calif. The bank has delivered strong economic performance as a result of sound management and prudent business practices. This growth has led to Plumas Bank being named to the KBW Bank Honor Roll, an annual list of banking institutions demonstrating a consistently strong track record of earnings growth over the past decade. For 2022, only 14 institutions nationwide received this recognition from Keefe, Bruyette & Woods, Inc., a leading investment bank specializing in the financial services and fintech sectors.
The bank was also recently added to the Russell 2000 Index by FTSE Russell, a global index leader that provides innovative benchmarking, analytics, and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.
“Our industry is about establishing and maintaining trust by delivering what our clients and the market need,” added Ryback. “Our longevity and strategic growth decisions have allowed us to build those trusting relationships that navigate the ups and downs of the economy and provide stable, reliable results every year.”
That stability is reflected in Plumas Bank’s recurring inclusion on some of the industry’s most prestigious lists and award recognitions. For the 6th year in a row, Plumas Bank has won the Raymond James Community Bankers Cup, which is awarded to the top performing 10% of banks in the $500 million to $10 billion asset range. In each of the six years that Plumas Bank has been awarded the Community Bankers Cup, it has been ranked in the top five of best performing banks in the nation by Raymond James & Associates; in 2022, the Bank was ranked 3rd best performing bank in its class.
For the 5th year in a row, Plumas Bank was named to the Bison Select list by D.A. Davidson; the biannual report features 86 small- and micro-cap banks with a focus on recognizing a subsection of emerging institutions with favorable characteristics that may otherwise be overlooked by investors.
“Recognition from national experts validates the work we have done to deliver for our clients and to support the communities in California and Nevada where we operate,” said Ryback. “Our success as a community bank is directly linked to the success of the communities we serve. We will continue to put the needs of our community, and the businesses that make those communities thrive, at the center of our operations and power those communities for decades to come.”
Visit plumasbank.com to learn more.
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About Plumas Bancorp and Plumas Bank
Founded in 1980, Plumas Bank is a locally managed, full-service community bank headquartered in Quincy, California. The bank’s holding company, Plumas Bancorp, was formed in 2002 and entered the Nasdaq small cap market in 2005. Plumas Bancorp is headquartered in Reno, Nevada. With the opening of a full-service branch in Chico, Calif., Plumas Bank operates fifteen branches: thirteen located in the California counties of Butte, Lassen, Nevada, Modoc, Plumas, Placer, Shasta and Sutter, and two branches located in Nevada in the counties of Washoe and Carson City. The bank also operates two loan production offices: one located in Placer County, Calif., and one located in Klamath County, Oregon. Plumas Bank offers a wide range of financial services to consumers and businesses and has received nationwide Preferred Lender status with the United States Small Business Administration. Member FDIC. Equal Housing Lender. For more information on Plumas Bancorp and Plumas Bank, please visit our website at plumasbank.com.
Media Contacts: Owen Truesdell, The Abbi Agency owen@theabbiagency.com 775-446-4599 Stacy Kendall, Plumas Bank stacy.kendall@plumasbank.com 775-786-0907 x8915
