Plumas Bancorp (Nasdaq:PLBC), the parent company of Plumas Bank, today announced the relocation of its corporate office to 5525 Kietzke Ln., Reno, Nevada. The move by Plumas Bancorp demonstrates its ongoing commitment to increase services for businesses based in the Northern Nevada region. Plumas Bank first opened a loan production office in Reno in 2006 followed by branches in Reno and Carson City in 2015 and 2018, respectively.
“Northern Nevada continues to attract a diverse base of small businesses, and those business owners need access to capital to thrive and expand,” said Andrew J. Ryback, president and CEO of Plumas Bancorp and Plumas Bank. “As a community bank, we serve the small to mid-sized businesses that are often overlooked by larger financial institutions or that need more flexibility than large banks can offer. We are committed to offering the same level of service to the Northern Nevada region that we have historically provided in our established footprint in Northeastern California.” Plumas Bank will remain headquartered in Quincy, California and Ryback will split his time between the bank’s administrative office in Quincy and Plumas Bancorp’s corporate office in Reno.
“Plumas Bank has invested in our community and our businesses for years, and has been a community leader, partner and supporter of EDAWN since 2007,” said Mike Kazmierksi, president and CEO, Economic Development Authority of Western Nevada. “Establishing the bank’s holding company in Nevada gives our community and local business owners access to the Bancorp’s leadership and contributes to our pro-business environment in Northern Nevada.”
Plumas Bank was established in 1980 by community-minded business leaders in Quincy, California. The bank’s holding company, Plumas Bancorp, was formed in 2002 and entered the Nasdaq small cap market in 2005. As of December 31, 2020, Plumas Bancorp had assets of $1.1 billion, deposits of $974 million and loans of $710 million. It has received ongoing recognition by Raymond James and Associates, Piper Sandler and The Findley Reports as one of the top performing community banks in the country.
Over the last year, Plumas Bank facilitated the distribution of funds through the paycheck protection program to more than 1,800 businesses. “With Plumas Bank headquartered only an hour and a half away and the holding company headquartered here locally, Plumas Bancorp is demonstrating a long-term commitment to this community. That makes a difference to the business owners who live here,” said Nevada business leader and Plumas Bancorp director Michonne Ascuaga.
Nevada business leaders Richard Kenny and state Sen. Heidi Gansert are also directors of the Plumas Bancorp board. “Both our Nevada and California communities are well represented by our board of directors, and our directors understand the needs of businesses across our entire footprint,” added Ryback. “Together we’ve grown the bank to become an SBA preferred lender, a commercial lending partner and a personal banking network.”
See the full press release and forward-looking statements.
About Plumas Bancorp and Plumas Bank
Founded in 1980, Plumas Bank is a locally owned and managed full-service community bank headquartered in Northeastern California. The bank operates thirteen branches: eleven located in the northern California counties of Plumas, Lassen, Placer, Nevada, Modoc and Shasta and two branches located in the northern Nevada counties of Washoe and Carson City. The bank also operates three loan production offices: two located in the northern California counties of Placer and Butte and one located in the southern Oregon county of Klamath. Plumas Bank offers a wide range of financial and investment services to consumers and businesses and has received nationwide Preferred Lender status with the United States Small Business Administration. For more information on Plumas Bancorp and Plumas Bank, please visit our website at www.plumasbank.com.