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Feather River Bulletin
Quincy, California
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November 3, 2010     Feather River Bulletin
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November 3, 2010
 

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8B Wednesday, Nov. 3, 2010 Bulletin, Progressive, Record, Reporter Third quarter profits for Plumas Bank Plumas Bancorp, a bank holding company and the parent company of Plumas Bank, announced third quarter earnings increased by $1.3 million froih a net loss of $1.1 million for the third quarter ended Sept. 30, 2009, for a net income of $196,000 for the quarter end- ed Sept. 30, 2010. For the nine-month peri- od, Plumas Bancorp report- ed net income of $906,000, representing an increase of $6.5 million from a net loss of $5.6 million during the first nine months of 2009. Andrew' J. Ryback, inter- im president and chief exec- utive officer, said, "The board of directors and the executive management team are pleased with the improvement in earnings for the nine months. We re- main diligent in our efforts to reduce non-performing assets, increase earnings and strengthen capital." Ryback added, "While the economic and regulatory .environment still present challenges to all banks, we are encouraged by our staff's ability to efficiently manage through these ob- stacles and implement our strategic plan. "Even though we achieved profitability for the third consecutive quar- ter, thereis still much work to be done to accomplish our longer-term goals. Once again, we would like to thank our shareholders for their continued patience and confidence in our com- pany." Founded in 1980, Plumas Bank is a locally owned and managed full-service com- munity bank based in northeastern California. The bank operates 11 branches located in Plumas, Lassen, Placer, Nevada, Modoc and Shasta counties. 2010 financial highlights Nine months ended Sept. 30, 2010 compared to 2009 Net income of $906,000 compared to a net loss of $5.6 million for the nine months ended Sept. 30, 2009 Loan loss provision decreased by $7.6 million Non-interest income inreased by $2.5 million Non-interest expense decreased by $2.2 million Period ending Sept. 30, 2010 compared to 2009 Deposits increased $8.1 million Borrowing declined $20 million Cash and due from banks increased by $28 million Three months ended Sept. 30, 2010 compared to 2009 Net income of $196,000 compared to a third quar- ter 2009 net loss of $1.1 million Loan loss provision d creased by $1.25 million. Non-interest income increased by $253 thousand. Non-interest expense decreased by $1.1 million Sharehold(~rs" Equity Total shareholders' equity decreased by $3.0 million from $41.7 million to $38.7 million during the nine-month period. Decrease mostly related to losses incurred Oct. 1, 2009 to Dec. 31, 2009. Book value per common share decreased to $5.66 from $6.30 in Sept. 2009. Red Ribbon Week Students from Amy Hafsrud's after-school club in Greenville helped get the "Put-in-Cups" sign in place to celebrate Red Ribbon Week. Photo courtesy of Plumas Unified School District Leitha Shafer (Veneman) Prevention Coordinator Plumas County Office of Education Special to Feather Publishing To celebrate Red Ribbon Week, Plumas Unified School District students are helping to install "cups" specially de- signed to click into chain link fencing. The signs read "To- bacco and Drug Free" in sup- port of the "Life is Beautiful -- Keep it Drug Free" cam- paign put on by the Plumas County Office of Education. Why put tobacco in front of drug free? Some might ques- tion it as a little repetitive since tobacco is a drug. Orga- nizers want to focus on the gateway drug as an important issue in this community. People have become more aware in recent years of the devastating effect of tobacco, but many still think it isn't that big of a deal and school officials want to change that. With a person in America dying every 6.5 seconds from tobacco use, it needs to be a shocking reality in the minds of all members of this com- munity. Tobacco companies are re- portedly targeting youth as replacement smokers, even though company officials claim they do not target smokers started smoking by age 18 flies in the face of the companies' statements. Look through teen magazines and count the number of dazzling tobacco ads. Tobacco compa- nies spend $3 million on ad- vertising every single day in California alone. Isn't it time we spent part of our day reversing their in- fluence? Check your local convenience store, look where tobacco product adver- tisements are placed and pay special attention to chewing tobacco ads. It is illegal for tobacco ~om- panics to put signs at chil- dren's eye levels; however, many signs in this very coun- ty are found at the eye level of a 3-year-old. The FDA is looking into one of the latest smokeless products that, like its relative chew, is full of sugar and at- tractive flavors. It's question- able whether dissolvable to- bacco should be legal. Since when did candy need an ad- dictive substance like nico- t tine in it? Researchers have found nicotine, the addictive drug in tobacco, to be more addic- tive than cocaine and heroin, two illicit drugs at the top of the charts for addictive quali- ties. they entice a young person to try their deadly products, they have a chance at trap- ping an addicted consumer until the end of her life. youth. The sad fact is, tobacco Find out more about tobac- The fact 80 percent of adult companies know that 6nce~ ...... co~nd engage in discussions In celebration of Red Ribbon week sponsored by Karen Machin at C. Roy Carmichael Elementary in Portola, Denise Hart and her daughter, Emery, plant a red tulip bulb as a re- minder to make wise choices and keep life beautiful by being drug free. Photo courtesy of Plumas Unified School District about tobacco with the young ones you have influence on. Show them the very hip anti- tobacco website for youth, thetruth.com, and be an ac- tivist for clean air, clean lungs and healthy gums. Your Turhvy St fling l ecipe! iiiii!iiiiiiiiiiii~i~ii,i~i:ii ~,~ Why is it the best. Traditional? Family Recipe: ~ ~ Please include exact measurements. "HE GREAT STUFFING DEBATE ... To stuff or not to stuff? Why? wor0s or ess Deadline for submission of your recipe: Friday, November 5th !i !iii] Please include your name, town and phone number. E-mail to: mhill@plumasnews.com or mail to: Feather River Bulletin PO Box B Quincy, CA 95971 Attn: Mona Hill WANTED OLD COIN COLLECTIONS.,. Pre-1965 Silver Coins, 10k-24k Gold Pre-1936 Silver Dollars, graded extra fine or better, Old currency, All gold coins FREE APPRAISALS We come to you Over 20 years in coin business References available Call 530-589-3585 leave message or 530-370-0101 for appointment .'.::.::? Need help (530) 283-2035 heatilator ECOCHOICE TM Wood & Pellet Burning Stoves Starting at $99999- Hours: 530.258.2220 515 Main Street Chester CA Lic. #884988