QUINCY, Calif., Feb. 26, 2015 (GLOBE NEWSWIRE) -- Plumas Bancorp (Nasdaq:PLBC), a bank holding company and the parent company of Plumas Bank, today announced that it has filed an application with the Federal Deposit Insurance Corporation (FDIC) to establish a full-service branch in Reno, Nevada. Plumas Bank currently has a commercial loan production office in Reno.
Andrew J. Ryback, president and chief executive officer of the bank, stated, "For the past several years we have been looking for an opportunity to expand our banking services into Northern Nevada.
We've built a brand that centers on customer service and providing financial solutions to our clients and we believe that this customer-focused approach will make us a competitive force in the region. Bringing our philosophy and practices to Northern Nevada is the next step in continuing the proud tradition of Plumas Bank and we believe expansion into this growing market will provide a host of benefits to our shareholders, clients and employees."
BJ North, executive vice president, retail banking manager and long-time Reno local, stated, "Plumas Bank's philosophy is to deliver a high level of customer care along with a full complement of business and personal banking services; we are poised and prepared to serve the Northern Nevada community with enthusiasm. We are confident that Plumas Bank will be a perfect fit for the Reno business community."
Ryan Reynolds, who was raised in Reno, recently joined Plumas Bank as vice president, regional commercial lending manager for Northern Nevada and he will help lead the future Reno team.
Plumas Bank was established in 1980 and has assets of over $530 million. The Bank currently operates eleven full-service offices in the counties of Nevada, Placer, Plumas, Shasta, Modoc, and Lassen, and also has loan production offices in Auburn, California; Chico, California; Portland, Oregon and Reno, Nevada. Plumas Bank is known throughout Northeastern California and Northern Nevada for its personalized service, community orientation and focus on lending to small and growing businesses. To learn more, visit www.plumasbank.com.
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended and Plumas Bancorp intends for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.
Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, either expressed or implied, in this news release. Factors that might cause such differences include, but are not limited to: the Company's ability to successfully execute its business plans and achieve its objectives; changes in general economic and financial market conditions, either nationally or locally in areas in which the Company conducts its operations; changes in interest rates; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Company's operations or business; loss of key personnel; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies.
In addition, discussions about risks and uncertainties are set forth from time to time in the Company's publicly available Securities and Exchange Commission filings. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.