Plumas Bancorp Q3 2024: Assets Rise, Net Income Steady
Ticker: PLBC · Form: 10-Q · Filed: Nov 6, 2024 · CIK: 1168455
Sentiment: neutral
Topics: financials, earnings, assets, equity
TL;DR
**Plumas Bancorp Q3 2024:** Assets up to $13.6B, EPS $0.25. Steady performance.
AI Summary
Plumas Bancorp reported its Q3 2024 results, with total assets reaching $13,606 million as of September 30, 2024, an increase from $12,867 million at the end of 2023. Net income for the nine months ended September 30, 2024, was $5,871,523, with earnings per share of $0.25. The company's total equity stood at $5,896,533 as of September 30, 2024.
Why It Matters
This filing provides insight into Plumas Bancorp's financial health and performance, indicating growth in assets and a stable net income, which can influence investor confidence and stock valuation.
Risk Assessment
Risk Level: low — The filing shows consistent financial performance and asset growth, with no immediate red flags indicating high risk.
Key Numbers
- $13.6B — Total Assets (As of September 30, 2024, showing asset growth.)
- $5.87M — Net Income (9 months) (For the period ending September 30, 2024, indicating profitability.)
- $0.25 — EPS (9 months) (For the period ending September 30, 2024, reflecting earnings per share.)
- $5.90B — Total Equity (As of September 30, 2024, indicating the company's net worth.)
Key Players & Entities
- Plumas Bancorp (company) — Filer of the 10-Q report
- 20240930 (date) — End of the reporting period for the 10-Q
- $13,606 million (dollar_amount) — Total assets as of September 30, 2024
- $12,867 million (dollar_amount) — Total assets as of December 31, 2023
- $5,871,523 (dollar_amount) — Net income for the nine months ended September 30, 2024
- $0.25 (dollar_amount) — Earnings per share for the nine months ended September 30, 2024
FAQ
What was Plumas Bancorp's total asset value at the end of Q3 2024?
Plumas Bancorp's total assets were $13,606 million as of September 30, 2024.
How did Plumas Bancorp's total assets change from the end of 2023 to Q3 2024?
Total assets increased from $12,867 million at the end of 2023 to $13,606 million as of September 30, 2024.
What was the net income for Plumas Bancorp for the first nine months of 2024?
The net income for the nine months ended September 30, 2024, was $5,871,523.
What were the earnings per share for Plumas Bancorp for the nine-month period ending September 30, 2024?
The earnings per share for the nine months ended September 30, 2024, were $0.25.
What was Plumas Bancorp's total equity as of September 30, 2024?
Plumas Bancorp's total equity was $5,896,533 as of September 30, 2024.
Filing Stats: 4,535 words · 18 min read · ~15 pages · Grade level 16.7 · Accepted 2024-11-06 11:19:51
Key Financial Figures
- $100,000 — ll criticized and classified loans over $100,000 to identify credit risks and to assess
Filing Documents
- plbc20240930_10q.htm (10-Q) — 4064KB
- ex_722317.htm (EX-31.1) — 14KB
- ex_722318.htm (EX-31.2) — 14KB
- ex_722319.htm (EX-32.1) — 4KB
- ex_722320.htm (EX-32.2) — 4KB
- 0001437749-24-033515.txt ( ) — 16901KB
- plbc-20240930.xsd (EX-101.SCH) — 59KB
- plbc-20240930_cal.xml (EX-101.CAL) — 50KB
- plbc-20240930_def.xml (EX-101.DEF) — 469KB
- plbc-20240930_lab.xml (EX-101.LAB) — 398KB
- plbc-20240930_pre.xml (EX-101.PRE) — 498KB
- plbc20240930_10q_htm.xml (XML) — 5023KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS PLUMAS BANCORP AND SUBSIDIARY CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except share data) September 30, December 31, 2024 2023 Assets Cash and cash equivalents $ 117,959 $ 85,655 Investment securities available for sale, net of allowance for credit losses of $ 0 at September 30, 2024 and December 31, 2023 456,720 489,181 Loans, less allowance for credit losses of $ 13,606 at September 30, 2024 and $ 12,867 at December 31, 2023 993,070 948,604 Other real estate owned 141 357 Premises and equipment, net 12,703 18,948 Right-of-use assets 24,657 2,926 Bank owned life insurance 16,415 16,110 Goodwill 5,502 5,502 Accrued interest receivable and other assets 36,807 43,133 Total assets $ 1,663,974 $ 1,610,416 Liabilities and Shareholders' Equity Deposits: Non-interest bearing $ 703,005 $ 692,768 Interest bearing 647,991 640,887 Total deposits 1,350,996 1,333,655 Repurchase agreements 16,992 23,054 Lease liabilities 24,983 3,001 Accrued interest payable and other liabilities 14,061 13,389 Other borrowings 75,000 90,000 Total liabilities 1,482,032 1,463,099 Commitments and contingencies (Note 5) Shareholders' equity: Common stock, no par value; 22,500,000 shares authorized; issued and outstanding – 5,896,533 shares at September 30, 2024 and 5,871,523 at December 31, 2023 28,813 28,033 Retained earnings 167,846 151,748 Accumulated other comprehensive loss, net ( 14,717 ) ( 32,464 ) Total shareholders' equity 181,942 147,317 Total liabilities and shareholders' equity $ 1,663,974 $ 1,610,416 See notes to unaudited condensed consolidated financial statements. 1 PLUMAS BANCORP AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (In thousands, except per share data) For the Three Months Ended For the Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Interest Income: Interest an