Plumas Bancorp reported record net income of $9.96 million for the second quarter of 2026, or $1.43 basic and $1.41 diluted earnings per share, up from $6.32 million in Q2 2025. For the six months ended June 30, 2026, the company posted net income of $19.72 million, or $2.83 basic and $2.79 diluted EPS. Results reflect a significant increase in net interest income driven largely by the acquired Cornerstone Community Bank and growth in the loan portfolio.

Financial Highlights

  • Net income: $9,959 thousand for Q2 2026, up from $6,321 thousand in Q2 2025; six months net income $19,722 thousand (vs. $13,501 thousand).
  • Earnings per share: Basic EPS $1.43 and Diluted EPS $1.41 for Q2 2026 (Q2 2025: Basic $1.07, Diluted $1.05); six months basic $2.83, diluted $2.79.
  • Net interest income: $26,007 thousand for the three months ended June 30, 2026 (up $7,824 thousand vs. Q2 2025); six months net interest income $51,146 thousand (up $14,424 thousand vs. prior year).
  • Provision for credit losses: $600 thousand for Q2 2026 (down from $860 thousand in Q2 2025); six months provision $270 thousand (down from $1,110 thousand).
  • Non-interest expense: $14,504 thousand for Q2 2026 (up $3,492 thousand vs. Q2 2025); six months non-interest expense $29,791 thousand (up $7,314 thousand).

Business Highlights

  • Acquisition impact: Results include the July 1, 2025 acquisition of Cornerstone Community Bank; assets acquired (excluding purchase adjustments) totaled $658 million, gross loans $478 million, and deposits $580 million.
  • Loan growth and mix: Gross loans increased by $494 million (49%) year-over-year to $1.512 billion at June 30, 2026, with notable increases in commercial real estate (+$353M), commercial (+$81M) and agricultural loans (+$29M).
  • Deposit growth and composition: Total deposits rose $518 million (38%) to $1.885 billion, with increases across demand, money market, savings and time deposits; 46% of deposits were non-interest-bearing at June 30, 2026.
  • Asset quality and credit metrics: Nonperforming assets were $23.6 million (1.04% of total assets) at June 30, 2026; allowance for credit losses totaled $19.7 million (1.30% of total loans).
  • Capital and liquidity: Total shareholders’ equity increased $79 million to $272.1 million; tangible common equity $238.0 million and strong available liquidity including FHLB and Discount Window capacity and an investment securities portfolio.

Original SEC Filing:

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