Plumas Bancorp reports Q4 EPS 71c vs. 78c last year

Book value per share increased by $2.68, or 17%, to $18.53, up from $15.85. Andrew J. Ryback, director, president and chief executive officer of Plumas Bancorp and Plumas Bank, stated, "Decreased profitability and earnings per share are the result of our anticipation of the expected ongoing impacts of the pandemic. To prepare for those potential impacts, we have increased our reserves for loan losses, although non-performing assets continue to trend down. As many loan deferrals begin to expire, we are evaluating additional deferments on a case-by-case basis. We have submitted more than 100 Paycheck Protection Program Loan Forgiveness applications which are now being processed by the Small Business Administration. Given the difficult business environment that we've faced over the last nine months, we are especially proud that for the second year in a row, Plumas Bancorp has been included in D.A. Davidson's Fall 2020 Bison Select Report and was also selected for the Piper Sandler Sm-All Stars Class of 2020. Each of these awards seeks to identify top-performing banks that may not yet be known to investors. We are proud to be recognized for outstanding performance with these prestigious national awards. Throughout the pandemic Plumas Bank has remained open and available to assist clients while observing recommended hygiene practices. Additionally, the technology we have implemented and continue to develop, including our mobile banking app, e-sign, and a fully integrated business banking platform, provides our clients with the access, security, and services they need, especially in this time of uncertainty and business disruption. The Federal Reserve Bank's goals of maximum employment, stable prices, and moderate long-term interest rates align with Plumas Bank's and Plumas Bancorp's focus on building strong, healthy communities through economic well-being."