PLUMAS BANCORP 8K

Plumas Bancorp reported record second quarter and year‑to‑date 2026 earnings driven by higher net interest income and balance sheet growth following its acquisition of Cornerstone Community Bank and Cornerstone Community Bancorp.

On July 15, 2026, Plumas Bancorp (Nasdaq: PLBC), the parent of Plumas Bank, announced record financial results for the second quarter and first half of 2026, reporting Q2 2026 net income of $9.9 million ($1.43 basic EPS, $1.41 diluted), up from $6.3 million ($1.07 basic, $1.05 diluted) in Q2 2025, and year‑to‑date net income of $19.7 million ($2.83 basic EPS) versus $13.5 million ($2.28 basic EPS) in the prior‑year period. The company attributed the strong performance primarily to significant growth in net interest income driven by the July 1, 2025 acquisition of Cornerstone Community Bank and its parent Cornerstone Community Bancorp, as well as organic loan and deposit growth, while noting higher non‑interest expense and increased nonperforming assets. The Cornerstone acquisition added approximately $658 million in assets, $478 million in gross loans, and $580 million in deposits, along with $18.7 million of goodwill, $11.6 million of core deposit intangibles, and a $15.5 million discount on acquired loans, fueling a 49% year‑over‑year increase in gross loans to $1.5 billion and a 38% increase in total deposits to $1.9 billion as of June 30, 2026. Key profitability metrics improved, including return on average assets of 1.79% and return on average equity of about 15% for the quarter and year‑to‑date, while net interest margin expanded to 5.13% for Q2 2026 and 5.08% for the first half, despite a higher cost of interest‑bearing liabilities. Management highlighted continued integration benefits from Cornerstone, strong capital and liquidity positions, and flexibility to support growth, dividends, and share repurchases, while cautioning that credit quality remains under close monitoring amid rising nonperforming assets and that results are subject to various economic and regulatory risks discussed in its forward‑looking statements.

Filing Facts

CIK

1168455

Ticker

-

Form

8K

Source Type

sec

Accession

0001437749-26-023589

Alert Tier

6