Plumas Bancorp (PLBC) Q2 2025 earnings summary

Executive summary

• Completed acquisition of Cornerstone Community Bancorp on July 1, 2025, expanding assets to $2.3 billion, loans to $1.5 billion, and deposits to $1.9 billion, and increasing branch network and market presence.

• Net income for Q2 2025 was $6.3 million, down 6.9% year-over-year; first half 2025 net income rose 3.5% to $13.5 million.

• Leadership team strengthened with key appointments from Cornerstone, supporting integration and market expansion.

• Operates 19 full-service branches and 2 lending offices, emphasizing personalized service and digital banking.

• Annualized return on average assets for the first half of 2025 was 1.67%, but quarterly return declined to 1.56%.

Financial highlights

• Net interest income for the first half of 2025 increased to $36.7 million, while Q2 2025 net interest income decreased to $18.2 million.

• Non-interest income for the first half of 2025 rose by $1.2 million, mainly due to a $1.1 million legal settlement related to the Dixie Fire.

• Non-interest expense for the first half of 2025 increased by $1.7 million, with $1.1 million in merger-related costs.

• Book value per share increased by $4.53 (16%) to $32.54 at June 30, 2025.

• Five-year diluted EPS CAGR of 11.6%, reaching $4.80 in 2024.

Outlook and guidance

• Management expects the Cornerstone acquisition to drive long-term value, with all capital ratios above well-capitalized thresholds.

• No material changes to risk factors or critical accounting policies were reported.