Plumas Bancorp earns another Raymond James Bankers Cup award

Plumas Bancorp, the holding company for Plumas Bank, announced it was recently awarded the prestigious “Raymond James Bankers Cup” and named the second-best performing community bank in the nation for the second consecutive year.

According to a May 12 press release, Raymond James evaluated 255 community banks on six financial performance and stability measures as part of its annual ranking; Plumas was compared with publicly traded banks across the nation with assets between $500 million and $10 billion.

“Plumas Bancorp performed exceptionally well on the various profitability, operational efficiency and balance sheet metrics,” according to the release.

It marks the third year in a row Plumas Bancorp has earned a Raymond James award.

The company was also recently recognized by the Independent Community Bankers of America as a top-performing community bank — for this award, Plumas was compared nationwide with other community banks with assets between $300 million and $1 billion.

“ICBA recognized Plumas Bank for its focus on efficiency and personal service that builds strong lasting relationships as well as its 3-year average return on assets metric of 2.56%,” according to the release.

“Both the Raymond James award and the ICBA award indicate that our 2019 performance has positioned us to weather the current economic challenges well,” Plumas Bancorp CEO/President Andrew J. Ryback said in a statement. “As of April 30, 2020, we had funded $60 million in Paycheck Protection Program (PPP) loan balances. In May, we expect to fund over $50 million in additional PPP loans, helping close to 1,000 different business clients in our communities.

“Additionally, we have worked with clients to defer loan payments on over $90 million in loan balances and donated $7,500 to our local food pantries. We are confident that we can continue to support our clients, communities and shareholders through the current challenges and the recovery.”