Plumas Bancorp completes acquisition of Mutual of Omaha Bank in Carson City
CARSON CITY, Nev. — Plumas Bancorp, the parent company of Plumas Bank, on Oct. 29 announced completion of the acquisition of the Carson City branch of Mutual of Omaha Bank.
This transaction resulted in the acquisition of $45.6 million in deposits and $1.8 million in loans.
“We are very pleased to be able to retain all of the Carson City branch employees and we welcome them into the Plumas Bank family as, together, we serve the financial needs of our new clients,” Andrew J. Ryback, director, president and chief executive officer of Plumas Bancorp and Plumas Bank, said. “I’d like to acknowledge the hard work of numerous individuals at both Mutual of Omaha Bank and Plumas Bank. All of us at Plumas Bank would like to thank the entire Mutual of Omaha Bank team for their helpfulness and cooperation in making this a smooth and efficient transition for everyone involved.”
“My team and I are pleased to be a part of the Plumas Bank family and we look forward to representing Plumas Bank in our community,” Chris Slothower, branch manager of the Carson City Plumas Bank office, said.
Ryback concluded, “This acquisition is a perfect fit for our company because it allows us to expand our presence in the Sierra region and provides additional lending and deposit gathering opportunities. This acquisition also will enable us to better serve our Nevada client base and, ultimately, create long-term value for our shareholders.”
The unanimous approvals Wednesday came despite state leaders promising to tighten up requirements for Nevada’s tax abatements and incentives for future companies.