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Exhibit 99.1 PLUMAS BANCORP REPORTS RECORD THIRD QUARTER 2021 RESULTS QUINCY , California , October 20 , 2021 - Plumas Bancorp ( Nasdaq : PLBC ) , the parent company of Plumas Bank , today announced record total assets and earnings during the three and nine months ended September 30 , 2021. Total assets were $ 1.6 billion at September 30 , 2021 an increase of $ 456 million from $ 1.1 billion at September 30 , 2020. Earnings during the third quarter of 2021 totaled $ 6.6 million or $ 1.13 per share , an increase of $ 2.9 million from $ 3.7 million or $ 0.71 per share during the third quarter of 2020. Diluted earnings per share increased to $ 1.12 per share during the three months ended September 30 , 2021 from $ 0.71 per share during the quarter ended September 30 , 2020 . For the nine months ended September 30 , 2021 , the Company reported net income of $ 15.5 million or $ 2.87 per share , an increase of $ 5.3 million from $ 10.2 million or $ 1.97 per share earned during the nine months ended September 30 , 2020. Earnings per diluted share increased to $ 2.83 during the nine months ended September 30 , 2021 up $ 0.88 from $ 1.95 during the first nine months of 2020 . Return on average assets was 1.71 % during the current quarter , up from 1.37 % during the third quarter of 2020. Return on average equity increased to 19.6 % for the three months ended September 30 , 2021 , up from 15.5 % during the third quarter of 2020. Return on average assets was 1.58 % during the nine months ended September 30 , 2021 , up from 1.40 % during the comparison period in 2020. Return on average equity increased to 18.3 % for the nine months ended September 30 , 2021 , up from 14.9 % during the first nine months of 2020 . Results for the three and nine months ended September 30 , 2021 benefited from the acquisition of the Bank of Feather River ( BFR ) , the wholly owned subsidiary of Feather River Bancorp , effective July 1 , 2021. Total assets acquired from BFR , including goodwill , were $ 205 million , gross loans totaled $ 162 million and deposits totaled $ 177 million . Goodwill associated with the acquisition of Feather River Bancorp was $ 5.5 million and the core deposit intangible was $ 1.0 million . In connection with the acquisition , the Company incurred a variety of non - recurring expense . The non - recurring costs for the three and nine months ended September 30 , 2021 were $ 68 thousand and $ 545 thousand , respectively . In addition to the acquisition of BFR , the Company benefited from an increase in PPP loan fees during the comparison periods , a reduction in salary expense related to the Employee Retention Credit ( ERC ) and a reduction in the provision for loan losses . During the three and nine months ended September 30 , 2021 , PPP fees net of the amortization of PPP origination costs were $ 2.5 million and $ 5.0 million , respectively . This compares to $ 0.6 million and $ 0.9 million during the three and nine months ended September 30 , 2020 . During the second and third quarters of 2021 the Company qualified for the ERC . The ERC was made available under the Coronavirus Aid , Relief , and Economic Security Act and modified and extended under the Taxpayer Certainty and Disaster Tax Relief Act of 2020. We recorded an ERC of $ 1.1 million during the second quarter and $ 1.2 million during the current quarter as a reduction of salary and benefit expense . The provision for loan losses declined from $ 800 thousand during the three months ended September 30 , 2020 to $ 250 thousand during the current quarter and from $ 2.8 million during the nine months ended September 30 , 2020 to $ 875 thousand during the current nine month period . 1