Asset quality deterioration (NPA ratio doubling to 1.04%) offsets the strong earnings beat. Monitor Q3 2026 for charge-off trends on the agricultural loan relationship that drove NPAs. The sequential EPS decline suggests post-acquisition momentum may be plateauing; watch for any full-year guidance revision on the next call.
Price Chart
Executive Summary
Plumas Bancorp reported record Q2 2026 earnings of $9.9M ($1.41 diluted EPS), up 57.6% YoY from $6.3M. Net interest income surged 43% to $26.0M driven by the Cornerstone acquisition and loan yield expansion to 6.61%. The beat vs $1.37 Street consensus is modest (2.9%), and the sequential EPS decline from $1.38 in Q1 2026 signals deceleration. Nonperforming assets doubled to $23.6M (1.04% of assets), a material credit concern that tempers the headline strength.
Key Financial Metrics
Key Facts
- Record Q2 2026 net income of $9.9M vs $6.3M in Q2 2025 (+57.6%)
- Diluted EPS $1.41 beat $1.37 consensus but down from $1.38 sequential Q1 2026
- Net interest margin expanded 30 bps to 5.13% from 4.83% a year ago
- Nonperforming assets surged to $23.6M (1.04% of total assets), up from $13.7M a year ago
- Gross loans grew 49% YoY to $1.5B, primarily from the Cornerstone acquisition
- Total deposits increased 38% to $1.9B, with 46% in non-interest-bearing deposits
- Efficiency ratio improved to 50.4% from 53.6% in the prior-year quarter
- Share buyback: 56K shares repurchased for $3M YTD under $25M authorized program
Financial Impact
EPS beat consensus by $0.04 (2.9%), but sequential decline of $0.03 (-2.1%) from Q1 2026. Net interest income +43% YoY to $26.0M.
Risk Factors
- Nonperforming loans jumped to 1.55% of total loans from 1.34% a year ago
- Uninsured deposits of $811M (43% of total deposits) present liquidity risk
- Interest expense grew 77.7% YoY, pressuring net interest margin expansion
- Elevated salary expense (+33.4% YTD) from Cornerstone headcount additions
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-023589 |
| Document: plbc20260713d_8k.htm | 0001437749-26-023589 |
| Document: 0001437749-26-023589-index-headers.html | 0001437749-26-023589 |
| Document: 0001437749-26-023589-index.html | 0001437749-26-023589 |
| Document: 0001437749-26-023589.txt | 0001437749-26-023589 |
| 8-K Data (Synthetic) | 0001437749-26-023589 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | 8-K | $63.49 $63.20 | ▼ −0.46% | ▲ +0.07% | $63.56 (+0.11%) |
Oct 22, 2026 4d ago | Press Release | $63.49 $63.20 | ▼ −0.46% | ▲ +0.07% | $63.56 (+0.11%) |
Oct 22, 2026 4d ago | 8-K | $63.49 $63.20 | ▼ −0.46% | ▲ +0.07% | $63.56 (+0.11%) |
Oct 21, 2026 5d ago | 8-K | $63.05 $63.49 | ▲ +0.70% | ▲ +1.88% | $63.56 (+0.81%) |
Oct 21, 2026 5d ago | 8-K | $63.05 $63.49 | ▲ +0.70% | ▲ +1.88% | $63.56 (+0.81%) |
Oct 21, 2026 5d ago | Press Release | $63.05 $63.49 | ▲ +0.70% | ▲ +1.88% | $63.56 (+0.81%) |
Jul 16, 2026 14w ago | 8-K | $61.96 $61.35 | ▼ −0.98% | ▲ +0.01% | $63.56 (+2.58%) |
Jul 15, 2026 14w ago | 8-K | $60.24 $61.96 | ▲ +2.86% | ▲ +3.40% | $63.56 (+5.51%) |
Jul 15, 2026 14w ago | 8-K | $60.24 $61.96 | ▲ +2.86% | ▲ +3.40% | $63.56 (+5.51%) |
Jul 15, 2026 14w ago | Press Release | $60.24 $61.96 | ▲ +2.86% | ▲ +3.40% | $63.56 (+5.51%) |
US Market Status
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