Plumas Bank's Decade of Growth Continues

Apr 13, 2001, 01:00 ET from Plumas Bank

    QUINCY, Calif., April 13 /PRNewswire/ --
 Plumas Bank (OTC Bulletin Board:   PLBA) today announced that its first quarter
 2001 net earnings were $590,032 up 5.0% over the $561,721 earned during the
 comparable period in 2000.
     Total capital grew 13.1% from $16,731,000 at the end of March, 2000 to
 $18,927,000 on March 31, 2001. The bank's assets stood at $245 million, up
 10.3% over the $222 million level on March 31, 2000.
     Basic earnings per share for the first quarter were 30 cents, up
 11.1% from the 27 cents earned during the first quarter of 2000. Fully diluted
 earnings per share were 28 cents, an increase of 12% over the 25 cents earned
 for the same quarter last year. On April 4, 2001, the bank announced a cash
 dividend of 30 cents per share to shareholders of record as of April 10, 2001.
     Total deposits as of March 31, 2001 stood at $223 million, an increase of
 9.8% over the $203 million at the end of the first quarter 2000.
     Net loan growth over the past year was a very strong 21.3% from
 $135 million at the end of the first quarter of 2000 to $164 million on
 March 31, 2001. William E. Elliott, president and chief executive officer of
 Plumas Bank said, "Loan growth was broad based, with impressive increases in
 the real estate loans (15.6%), commercial loans (25.1%), agricultural loans
 (25.8%) and consumer installment loans (41.1%) leading the way. While strong
 loan growth is expected to continue throughout the remainder of 2001," Elliott
 stated, "it is expected to do so at a somewhat reduced pace.
     "The loan production from Truckee, our newest office," he continued, "has
 been particularly gratifying and, though it only opened in February of this
 year, we expect it to make a significant contribution to our growth in 2001."
     The annual shareholder meeting is scheduled for May 16, 2001 at 10:30 a.m.
 at 167 Lawrence Street, in Quincy, California.
     Plumas Bank operates nine traditional branches plus three independent ATM
 sites in Northeastern California's Plumas, Lassen, Modoc, Nevada, and Shasta
 counties. The bank provides consumer and commercial banking services, mortgage
 banking, and various investment and insurance services. Hoefer & Arnett and
 First Security Van Kasper, both regional brokerage firms, are now making a
 market in Plumas Bank stock which is listed on the over-the-counter market
 under the stock symbol PLBA.
     This news release includes forward-looking statements about Plumas Bank's
 financial condition, results of operations, plans, objectives and future
 performance. A number of factors, many of which are beyond the control of
 Plumas Bank, could cause actual results to differ materially from those in the
 forward-looking statements.
 
 

SOURCE Plumas Bank
    QUINCY, Calif., April 13 /PRNewswire/ --
 Plumas Bank (OTC Bulletin Board:   PLBA) today announced that its first quarter
 2001 net earnings were $590,032 up 5.0% over the $561,721 earned during the
 comparable period in 2000.
     Total capital grew 13.1% from $16,731,000 at the end of March, 2000 to
 $18,927,000 on March 31, 2001. The bank's assets stood at $245 million, up
 10.3% over the $222 million level on March 31, 2000.
     Basic earnings per share for the first quarter were 30 cents, up
 11.1% from the 27 cents earned during the first quarter of 2000. Fully diluted
 earnings per share were 28 cents, an increase of 12% over the 25 cents earned
 for the same quarter last year. On April 4, 2001, the bank announced a cash
 dividend of 30 cents per share to shareholders of record as of April 10, 2001.
     Total deposits as of March 31, 2001 stood at $223 million, an increase of
 9.8% over the $203 million at the end of the first quarter 2000.
     Net loan growth over the past year was a very strong 21.3% from
 $135 million at the end of the first quarter of 2000 to $164 million on
 March 31, 2001. William E. Elliott, president and chief executive officer of
 Plumas Bank said, "Loan growth was broad based, with impressive increases in
 the real estate loans (15.6%), commercial loans (25.1%), agricultural loans
 (25.8%) and consumer installment loans (41.1%) leading the way. While strong
 loan growth is expected to continue throughout the remainder of 2001," Elliott
 stated, "it is expected to do so at a somewhat reduced pace.
     "The loan production from Truckee, our newest office," he continued, "has
 been particularly gratifying and, though it only opened in February of this
 year, we expect it to make a significant contribution to our growth in 2001."
     The annual shareholder meeting is scheduled for May 16, 2001 at 10:30 a.m.
 at 167 Lawrence Street, in Quincy, California.
     Plumas Bank operates nine traditional branches plus three independent ATM
 sites in Northeastern California's Plumas, Lassen, Modoc, Nevada, and Shasta
 counties. The bank provides consumer and commercial banking services, mortgage
 banking, and various investment and insurance services. Hoefer & Arnett and
 First Security Van Kasper, both regional brokerage firms, are now making a
 market in Plumas Bank stock which is listed on the over-the-counter market
 under the stock symbol PLBA.
     This news release includes forward-looking statements about Plumas Bank's
 financial condition, results of operations, plans, objectives and future
 performance. A number of factors, many of which are beyond the control of
 Plumas Bank, could cause actual results to differ materially from those in the
 forward-looking statements.
 
 SOURCE  Plumas Bank