BRIEFS: Plumas Bancorp. reports record earnings
January 25, 2018
Plumas Bancorp, the parent company of Plumas Bank, recently reported record earnings for calendar year the twelve months ended Dec. 31, 2017. Plumas had a net income of $8.2 million, an increase of $715,000, or 10 percent, from $7.5 million for the year ended Dec. 31, 2016.
Earnings per diluted share increased to $1.58 for the year ended Dec.December 31, 2017, up $0.11 from $1.47 for 2016. Earnings for the fourth quarter of 2017 totaled $1.1 million, a decrease of $971,000, or 46 percent, from $2.1 million for the three months ended Dec. 31, 2016. Earnings per diluted share decreased to $.22 for the three months ended Dec. 31, 2017, down $0.19 from $.41 for the fourth quarter of 2016.
The bank's net income for the fourth quarter of 2017 was reduced by a $1.4 million, or $.27 per diluted share, as a result of a one-time revaluation of Plumas' deferred tax assets.
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