Plumas Bank parent reports record earnings
Plumas Bancorp., the parent company of Plumas Bank with branches in Reno, Lake Tahoe and Truckee regions, reported record earnings for the third quarter ended Sept. 30.
Earnings during the third quarter of 2017 totaled $2.4 million or $.48 per share, an increase of $491,000 from $2 million or 40 cents per share during the third quarter of 2016. Diluted earnings per share increased to 47 cents per share during the three months ended Sept. 30, from 39 cents per share during the quarter ended Sept. 30, 2016.
For the nine months ended Sept. 30, Plumas Bancorp., reported net income of $7.1 million or $1.41 per share, an increase of $1.7 million, or 31 percent, from $5.4 million or $1.11 per share earned during the nine months ended Sept. 30, 2016. Earnings per diluted share increased to $1.36 during the nine months ended Sept. 30, up 30 cents from $1.06 during the first nine months of 2016.
The third quarter earnings of $2.4 million represent the highest level of earnings for any third quarter in the history of the company,” said Andrew J. Ryback, director, president and chief executive officer of Plumas Bancorp and Plumas Bank.
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