Earnings release
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Exhibit 99.1 PLUMAS BANCORP REPORTS RECORD SECOND QUARTER 2021 RESULTS Reno , Nevada , July 21 , 2021 – Plumas Bancorp ( Nasdaq : PLBC ) , the parent company of Plumas Bank , today announced earnings during the second quarter of 2021 of $ 4.5 million or $ 0.86 per share , an increase of $ 1.3 million from $ 3.2 million or $ 0.62 per share during the second quarter of 2020. Diluted earnings per share increased to $ 0.85 per share during the three months ended June 30 , 2021 up from $ 0.61 per share during the quarter ended June 30 , 2020 . For the six months ended June 30 , 2021 , the Company reported net income of $ 8.9 million or $ 1.72 per share , an increase of $ 2.4 million from $ 6.5 million or $ 1.26 per share earned during the six months ended June 30 , 2020. Earnings per diluted share increased to $ 1.69 during the six months ended June 30 , 2021 up $ 0.45 from $ 1.24 during the first six months of 2020. Earnings during the 2021 three and six month periods set records for any three month or six month period in the Company's history . Return on average assets was 1.45 % during the current quarter , up from 1.31 % during the second quarter of 2020. Return on average equity increased to 17.2 % for the three months ended June 30 , 2021 , up from 14.0 % during the second quarter of 2020. Return on average assets was 1.50 % during the six months ended June 30 , 2021 , up from 1.41 % during the first half of 2020. Return on average equity increased to 17.4 % for the six months ended June 30 , 2021 , up from 14.6 % during the first half of 2020 . • • Financial Highlights June 30 , 2021 compared to June 30 , 2020 Total assets increased by $ 231 million , or 22 % , to $ 1.3 billion . Cash and due from banks increased by $ 137 million to $ 244 million . Investment securities increased by $ 95 million to $ 249 million . · Total deposits increased by $ 228 million , or 25 % , to $ 1.1 billion . • Total equity increased by $ 13.9 million , or 15 % , to $ 107 million . • Book value per share increased by $ 2.60 , or 15 % , to $ 20.54 , up from $ 17.94 . President's Comments Andrew J. Ryback , director , president and chief executive officer of Plumas Bancorp and Plumas Bank stated , " We are pleased to announce another record setting quarter for Plumas Bancorp . With growth resulting from PPP lending , government stimulus , client onboarding , and a reopening economy , our balances and earnings are strong . " Ryback continued , " We also completed our acquisition of Bank of Feather River . This acquisition , which closed on July 1st , represents a milestone for Plumas Bank as it is the first full bank acquisition we have conducted in over 30 years . In connection with this acquisition , we are thrilled to appoint Julie Morehead , prior President , CEO and Director of Bank of Feather River , as a director of Plumas Bancorp and Plumas Bank . Her expertise in banking and knowledge of the Yuba City market will be of great value to our company . " Ryback concluded , “ Our significant funding resources will allow us to expand our lending relationships in the Yuba City market and we anticipate continued growth in this region . " 1