The sharp drop in provision expense and the tax credit benefit are non-recurring tailwinds — watch for normalization in Q4 2026. Loan growth was flat YoY at $1.5B due to planned auto portfolio runoff; monitor whether commercial real estate growth can sustain NIM expansion without the acquisition boost.
Price Chart
Executive Summary
Plumas Bancorp reported record Q3 2026 earnings of $1.61 diluted EPS ($11.4M net income), a 120.5% YoY increase from $0.73, beating consensus of $1.52 by 6.2%. Net interest income rose 5.4% to $26.5M, driven by loan yield expansion and lower provision expense. The provision for credit losses dropped 97.2% to $150K vs $5.4M a year ago, which included Day 1 CECL charges from the Cornerstone acquisition. Nonperforming assets improved sequentially to 0.94% of assets from 1.04% at June 30, 2026. The effective tax rate fell to 18.9% from 25.6% due to $14.5M in green energy tax credits purchased during the quarter.
Key Financial Metrics
Key Facts
- Record Q3 2026 net income of $11.4M ($1.64 basic EPS), up 121.3% YoY from $5.1M ($0.74)
- Diluted EPS of $1.61 beat consensus of $1.52 by 6.2%
- Net interest income increased 5.4% to $26.5M; net interest margin expanded 22 bps to 5.05%
- Provision for credit losses fell 97.2% to $150K from $5.4M in Q3 2025 (which included Day 1 CECL)
- Effective tax rate dropped to 18.9% from 25.6% due to $14.5M green energy tax credit purchase
- Nonperforming assets improved to 0.94% of total assets from 1.04% at June 30, 2026
- Return on average assets improved to 1.98% from 0.90% in Q3 2025
- Share repurchases of ~80K shares for $4.2M during the nine months ended September 30, 2026
Financial Impact
Net income of $11.4M vs $5.1M YoY; diluted EPS $1.61 vs consensus $1.52; net interest margin 5.05% vs 4.83% YoY
Risk Factors
- Nonperforming loans remain elevated at 1.41% of total loans vs 1.00% a year ago
- Investment portfolio unrealized loss position worsened to $44M from $23M at Sep 30, 2025
- Flat loan growth YoY suggests organic expansion may be slowing post-Cornerstone integration
- Green energy tax credits are non-recurring; effective tax rate will normalize upward in future quarters
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-033066 |
| Document: plbc20261019_8k.htm | 0001437749-26-033066 |
| Document: 0001437749-26-033066-index-headers.html | 0001437749-26-033066 |
| Document: 0001437749-26-033066-index.html | 0001437749-26-033066 |
| Document: 0001437749-26-033066.txt | 0001437749-26-033066 |
| 8-K Data (Synthetic) | 0001437749-26-033066 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | 8-K | $63.49 $63.20 | ▼ −0.46% | ▲ +0.07% | $63.42 (−0.11%) |
Oct 22, 2026 5d ago | Press Release | $63.49 $63.20 | ▼ −0.46% | ▲ +0.07% | $63.42 (−0.11%) |
Oct 22, 2026 5d ago | 8-K | $63.49 $63.20 | ▼ −0.46% | ▲ +0.07% | $63.42 (−0.11%) |
Oct 21, 2026 6d ago | 8-K | $63.05 $63.49 | ▲ +0.70% | ▲ +1.88% | $63.42 (+0.58%) |
Oct 21, 2026 6d ago | 8-K | $63.05 $63.49 | ▲ +0.70% | ▲ +1.88% | $63.42 (+0.58%) |
Oct 21, 2026 6d ago | Press Release | $63.05 $63.49 | ▲ +0.70% | ▲ +1.88% | $63.42 (+0.58%) |
Jul 16, 2026 14w ago | 8-K | $61.96 $61.35 | ▼ −0.98% | ▲ +0.01% | $63.42 (+2.35%) |
Jul 15, 2026 14w ago | 8-K | $60.24 $61.96 | ▲ +2.86% | ▲ +3.40% | $63.42 (+5.28%) |
Jul 15, 2026 14w ago | 8-K | $60.24 $61.96 | ▲ +2.86% | ▲ +3.40% | $63.42 (+5.28%) |
Jul 15, 2026 14w ago | Press Release | $60.24 $61.96 | ▲ +2.86% | ▲ +3.40% | $63.42 (+5.28%) |
US Market Status
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