Plumas Bancorp
Plumas Bancorp is a California corporation registered as a bank holding company
under the Bank Holding Company Act of 1956, as amended, and is headquartered
in Quincy, California. The Company was incorporated in January 2002 and acquired
all of the outstanding shares of Plumas Bank (the “Bank”) in June
2002. The Company’s principal subsidiary is the Bank, and the Company
exists primarily for the purpose of holding the stock of the Bank and of such
other subsidiaries it may acquire or establish. At the present time, the Company’s
only other subsidiaries are Plumas Statutory Trust I and Plumas Statutory Trust
II, which were formed in 2002 and 2005 solely to facilitate the issuance of
trust preferred securities.
The Company’s principal source of income is dividends from the Bank, but
the Company may explore supplemental sources of income in the future. The cash
outlays of the Company, including (but not limited to) the payment of dividends
to shareholders, if and when declared by the Board of Directors, costs of repurchasing
Company common stock, the cost of servicing debt and preferred stock dividends,
will generally be paid from dividends paid to the Company by the Bank.
With a predominant focus on personal service, the Bank has positioned itself
as a multi-community independent bank serving the financial needs of individuals
and businesses within the Bank’s geographic footprint. Our principal retail
lending services include consumer, automobile and home equity loans. Our principal
commercial lending services include term real estate, commercial and industrial
term loans. In addition, we provide government-guaranteed and agricultural loans
as well as credit lines. We provide land development and construction loans
on a limited basis.
The Bank. The Bank is a California state-chartered bank that was incorporated
in July 1980 and opened for business in December 1980. The Bank is not a member
of the Federal Reserve System. The Bank’s Administrative Office is located
at 35 South Lindan Avenue, Quincy, California. It is currently the largest independent
bank headquartered in Plumas County. The Bank’s deposit accounts are insured
by the Federal Deposit Insurance Corporation (the “FDIC”) up to
maximum insurable amounts.
The Agricultural Credit Centers located in Susanville, Chico and Alturas provide
a complete line of credit services in support of the agricultural activities
which are key to the continued economic development of the communities we serve.
“Ag lending” clients include a full range of individual farming
customers, small to medium-sized business farming organizations and corporate
farming units.
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