Plumas to expand in Reno
Plumas Bancorp will open its 12th full-service bank at 5050 Meadowood Circle later this year in Reno.
Already operating a commercial loan production office in Reno near the airport, the expansion helps fill in the bank’s footprint in the region, which includes branches in Truckee, Tahoe City and King’s Beach.
Another full-service branch means more convenience for customers and, hopefully, more checking and other consumer accounts, said Andy Ryback, Plumas’ president and CEO of the Qunicy, Calif-based financial institution.
“It’s a natural fit for us,” he said about staffing up in Reno. “We really don’t see the state line,” he said of synergies between his company and northern Nevada customers and employees, many of whom cross the border every day.
“We have quite a lot of business already in northern Nevada,” said Ryback, referring to the bank’s portfolio of small-business loans. “We do home equity and consumer loans, but our bread and butter is small business,” he added.
“We pride ourselves on being a small business bank that can come up with solutions,” said Ryback. “We rarely say ‘no.’
“We try to find a product that works for the customer and the bank.”
In terms of the competitive landscape, Ryback acknowledged “the tremendous number of great community banks serving northern Nevada, but believes there’s room for a new player, emphasizing personalized service, to do business in Reno, given the improving economy.
“We’ve always looked at Reno as our ‘market,” he said of a company that operates 11 full-service offices in Nevada, Placer, Plumas, Shasta, Modoc and Lassen counties. Established in 1980, Plumas Bank has assets of over $530 million.
Ryan Reynolds, who was raised in Reno, recently joined Plumas as vice president/regional commercial lending manager for northern Nevada, and he will help lead the future Reno team.
Reno-based design firm MBA Architecture and Design is assisting on the $47 million Caesars Entertainment project in downtown Reno.