PLUMAS BANCORP (PLBC) SEC Filings & Earnings Calls

Transition risk from CFO retirement; new CFO has limited tenure at company (since April 2026)

“Ms. Cassinelli began employment with the Company in April 2026, less than a year before assuming CFO role”

Unrealized loss on investment securities increased to $44M from $23M, indicating interest rate sensitivity

“a $21 million increase in the unrealized loss position, from $23 million at September 30, 2025, to $44 million” · word for word

Loan portfolio concentrated in variable rate (79%) with repricing risk; indirect auto portfolio runoff

“approximately 79% of the Company's loan portfolio was comprised of variable rate loans” · word for word

Credit quality deterioration

“Nonperforming loans as a percentage of total loans increased to 1.55% at June 30, 2026, up from 1.00% at December 31, 2025.” · word for word

Concentration risk in CRE

“Commercial real estate loans comprised 68% of the lending portfolio at June 30, 2026.”

Non-interest expense increased significantly, partly due to acquisition-related costs

“Non-interest expense increased by $3.5 million from $11.0 million to $14.5 million.”

Concentration in variable rate loans (79%) exposes to interest rate risk

“At June 30, 2026, approximately 79% of the Company's loan portfolio was comprised of variable rate loans.” · word for word

CRE concentration risk

“Commercial real estate loans comprised 68% of the lending portfolio at March 31, 2026.”

Interest rate risk from floating rate loans

“approximately 80% of the Company's loan portfolio was comprised of variable rate loans.” · word for word

Fraud loss risk

“a $726 thousand loss associated with two fraudulent wire transfers.” · word for word

Deposit mix shift risk

“The average rate paid on interest-bearing deposits increased from 1.11% during the first quarter of 2025 to 1.52% during the current quarter and primarily relates to an increase in the percentage of average time deposits to average interest-bearing deposits from 13% during the first quarter of 2025 to 22% during the current quarter.” · word for word

Fraud loss of $726K from two fraudulent wire transfers indicates operational control risk.

“Of this increase $726 thousand relates to a loss associated with two fraudulent wire transfers, both of which were associated with the same client.” · word for word

Acquisition integration risk from Cornerstone Community Bancorp; goodwill $18.7M and core deposit intangible $11.6M.

“Goodwill associated with the acquisition of Cornerstone was $18.7 million; the core deposit intangible was $11.6 million.” · word for word

Integration Risk

“The integration was streamlined, with a successful systems conversion in July and the retention of most of the Cornerstone team, ensuring continuity for our clients.” · word for word

Credit Risk

“our priority continues to be the improvement of nonperforming metrics, including the successful resolution and workout of a single large agricultural relationship.” · word for word

Concentration in real estate-secured loans

“At December 31, 2025, approximately 82% of the Bank's total loan portfolio consisted of real estate-secured loans... Approximately 66% of our loans were commercial real estate loans as of December 31, 2025.” · word for word

Geographic concentration in California and Nevada

“The business activities of the Company currently are focused in the California counties of Butte, Lassen, Modoc, Nevada, Placer, Plumas, Shasta Sutter, and Tehama and in Washoe and Carson City Counties in Northern Nevada.” · word for word

Acquisition integration risk: non-recurring expenses of $7.3M in FY2025

“non-recurring expenses for the twelve months ended December 31, 2025 were $7.3 million” · word for word

Credit quality: provision for credit losses increased $5.6M for FY2025

“increases of $5.6 million in the provision for credit losses”

Credit concentration in CRE and agricultural loans

“Commercial real estate loans (“CRE”) comprised 66% of the lending portfolio at September 30, 2025. The increase in nonperforming loans is mostly related to one agricultural loan relationship of 15 loans totaling $9.8 million.” · word for word

Merger integration and expense drag

“The non-recurring expenses for the three and nine months ended September 30, 2025 were $6.2 million and $7.3 million, respectively.” · word for word

Interest rate sensitivity on floating-rate loans

“At September 30, 2025, approximately 80% of the Company's loan portfolio was comprised of variable rate loans.”