Transcription
INVESTOR PRESENTATIONUPDATED THROUGH DECEMBER 31, 20201
Forward Looking Statements DisclaimerForward-looking statements are based on management’sknowledge and belief as of today and include informationconcerning Plumas Bancorp’s possible or assumed futurefinancial condition, and its results of operations, business andearnings outlook. These forward-looking statements aresubject to risks and uncertainties. For a discussion of factorswhich could cause results to differ, please see PlumasBancorp’s reports on Forms 10-K and 10-Q as filed with theSecurities and Exchange Commission and the Company’s pressreleases. Readers should not place undue reliance on theforward-looking statements, which reflect management'sview only as of the date hereof. Plumas Bancorp undertakesno obligation to publicly revise these forward-lookingstatements to reflect subsequent events or circumstances.2
IndexOverview4Management Team5Business Model6Net Income8Non-Interest Income9ROE10Stock Price11Deposit Trends and Current Composition13Loan Trends and Current Composition14Diversification of CRE Loans by Property Type15Diversification of Construction Loans by Property Type16Geographic Distribution of CRE Loans17Payroll Protection Program Loans18Indirect Automobile Loans19Loans with Payment Deferrals202020 Financial Highlights222020 Financial Highlights – Five Year23Recent Expansion Strategy24Strengths & Challenges25Recent Awards263
Plumas Bank Administration Building, QuincyOverviewNASDAQ Symbol: PLBCTotal Assets: 1.1 billionHeadquartered: Quincy, CABank Branches:13Year Established: 19804
Andrew RybackManagementTeamPresident & CEOYears at Plumas Bank – 20BJ NorthEVP Chief Banking OfficerYears at Plumas Bank - 13QuincyRichard BelstockEVP Chief Financial OfficerYears at Plumas Bank – 15Aaron BoigonEVP Chief Information OfficerYears at Plumas Bank - 8Jeff MooreEVP Chief Credit OfficerYears at Plumas Bank - 35
Business Model Branch network of 13 full-servicebranches and 3 lending offices. Predominant focus on personalservice with a wide range of depositproducts for the retail andcommercial markets. Reduced costs by leveraging mobileand online banking services. Lending services include: Business - term real estate, commercial,industrial termAgriculturalGovernment-guaranteedRetail - consumer, auto, home GuaranteedRetailLendingFocus on small to middle market businesses.6
Patterson LakeThe Big Picture7
Net Income 15,512 16,000 14,475 13,992 14,000 12,000Calpine Meadow Decline of 7% in 2020Net Interest Incomeincreased by 841thousandBank Net Interest Margindeclined to 4.06% vs. bankpeers at 3.70% in 3Q20*Provision for loan lossesincreased by 1.7 million* Average for CA Banks 1B- 3BThousands 10,000 8,189 7,474 8,000 6,000 5,818 4,000 2,000 -2015201620172018201920208
Non-Interest Income 9,000 8,000 7,000 Non-Interest Income streamscomprised primarily of: Service charges on depositaccounts Interchange revenue Gains on sale of SBA loans Loan servicing feesThousandsBurney Falls 6,000 5,000 1,056 1,257 562 1,209 731 642 1,903 867 1,387 841 1,344 1,770 4,000 3,000 800 1,439 760 2,039 1,942 1,428 1,586 1,740 2,368 2,291 1,987 2,174 2,374 2,568 2,000 1,000 -2015Srvc Chrgs on Dpst Accnts2016 2,4672017Interchange Revenue 2,5762018Gain on Sale of SBA 7a Loans 2,6952019Loan Srvc Fees 2,3232020Other Income9
Return on Bank’s Equity25.0%20.8%20.0%18.7%Spanish Creek15.0%13.5% ROE leads bank peers at14.7% in 202011.6%10.8%10.0%11.1%8.6% Strong earnings Efficient use of s Bank201820192020CA Banks 500M- 1B10
Stock Price to Earnings per Share201816Lake Almanor14 12 Stock price has increased morethan 160% in the last 5 yearsAttributable to: Earnings growthAsset quality improvementExpense managementCapital managementExpansion opportunitiesRe-establishment of growingdividendPE Ratio lags peers108642012/31/201512/31/201612/31/2017Plumas Bancorp12/31/201812/31/201912/31/2020CA Banks 500M- 1B11
Mount ShastaDeposits and Loans12
Deposit Trends and Current CompositionRECORD LEVEL OF DEPOSITSAVERAGE INTEREST-BEARING DEPOSITS RATE IS 0.18%ALL CORE, NO BROKERED DEPOSITS 974 1,000Money Market18% 900 800 663Millions 700 600 527 727 747Time4%Non-InterestBearing53% 582 500Savings25% 400 300 200 100 0201520162017201820192020Balances as of Dec. 31, 202013
Loan Trends and Current CompositionDIVERSIFIED, GROWING LOAN PORTFOLIORECORD LEVEL OF LOAN BALANCES68% OF PORTFOLIO BALANCE IS VARIABLE RATEPORTFOLIO AVERAGE YIELD 5.15%OF WHICH 43% ARE AT AFLOOR RATERE/Residential 800 709 700 566Millions 461CRE/Investor20%CRE/Multi Family9% 487 401 400CRE/Owner20%Agricultural10% 300PPP10% 200 100 0Home Equity Lines5%Commercial7% 620 600 500RE/Construction 2%3%20152016201720182019Indirect Auto13%2020Balances as of Dec. 31, 202014
Diversification of CommercialReal Estate Loans by Property ,00020,000,00010,000,000-Includes CRE/Investor, CRE/Owner and CRE/MultifamilyCRESBA 504SBA 7aBalances as of Dec. 31, 202015
Diversification of Real EstateConstruction Loans by Property ,000,0002,000,0001,000,000-Mini StorageHospitalityCommercial LandDevelopmentResidential LandDevelopmentCRE - ConstOfficeSBA - ConstMixed CommercialMulti-FamilyMedical FacilitiesOtherBalances as of Dec. 31, 202016
Geographic Distribution ofCommercial Real Estate LoansCALIFORNIA AND NEVADA ECONOMIC REGIONSCRE DISTRIBUTION BY REGION28% - NV - Western (pale green)22% - CA - Northern Sacramento Valley (light green)21% - CA - Northern (dark green)13% - CA - Greater Sacramento (yellow)4% - CA - Bay Area (pink)4% - CA - Central Coast (orange)3% - CA - San Joaquin Valley (chartreuse green)2% - CA - Southern (blue)2% - OR 1% - CA - Central Sierra (tan) & Southern Border (magenta) 1% - NV - Northwestern (pale blue), Northeastern (pale pink) & WAIncludes CRE/Investor, CRE/Owner and CRE/MultifamilyBalances as of Dec. 31, 202017
Payroll Protection Program Loans 730 PPP loans outstanding with an average balance of 95,000 Total PPP loans originated - 119 million Fees collected from the SBA - 5.0 million Balance of unearned fees - 2.3 million Balance of PPP loans at 12/31/20 - 71 million Balance with a two-year maturity - 68 million Balance with a five-year maturity - 3 millionBalances as of Dec. 31, 202018
Indirect Automobile Loans Total automobile loans - 91 million Average balance - 35.8 thousand Average term at origination - 6.4 years Average FICO at origination - 737 Delinquent loans as a percent of total bydollars – 1.46%BALANCE BY LOANTYPENew vehicle50%Used vehicle50%Balances as of December 31, 202019
Loans with Payment Deferrals (in thousands)At December 31, 2020 there were 113 loans on deferral totaling 37.4 millionMonth Payments ResumeChandler RoadLoan TypeJanuaryCommercialReal Estate - ResidentialReal Estate - CommercialEquity Lines of CreditAutomobileOtherTotal39511,968749 12,446 February3,28348043,767 March578673141,265 April2402,27415,5681976002418,903Other 2 20
Modoc CountyFinancial Recap21
2020 Financial HighlightsDollars in thousands(Except per share)Reno, NV12/31/202012/31/2019Change% ChangeAssets 1,111,576 865,191 246,38528.5%Deposits 973,974 747,324 226,65030.3%Loans 709,939 619,718 90,22114.6%Net Income 14,475 15,512 1,0376.7%Income Before Tax 19,952 21,380 1,4286.7%Net Interest Income 38,396 37,555 8412.2%Net Interest ROAE15.5%20.2%4.7%23.3%Book Value per Share 19.33 16.36 2.9718.2%Diluted EPS 2.77 2.97 0.206.7%22
2020 Financial Highlights – Five YearDollars in thousands(Except per share)12/31/2012/31/1912/31/18Assets 1,111,576 865,191 824,398 745,427 657,97569%Deposits 973,974 747,324 726,565 662,657 582,35367%Loans 709,939 619,718 566,199 486,634 461,12354%0.27%0.33%0.28%14,475 15,512 13,992Net Interest Margin4.02%4.75%4.70%Efficiency ts/total assetsNet IncomeSand Harbor, Lake Tahoe 3.3%15.4%16.1%-4% 8,189 Book Value per Share 19.33 16.36 13.03 11.00 9.8097%Diluted EPS 2.77 2.97 2.68 1.58 1.4788%23
Apr ‘16Opened LPOKlamath Falls, ORJul ‘15Purchased Rabo Bank’sRedding BranchRainbow Bridge, Donner SummitRecentExpansionStrategyDec ‘15OpenedReno BranchMay ‘14Opened LPOChicoBranchSBA Loan Production OfficeLoan Production OfficeJun ‘07Opened SBA LPOAuburnOct ‘18Purchased Mutual ofOmaha Bank’sCarson City Branch24
StrengthsLake TahoeChallenges Managing Balance Sheetgrowth during the Pandemic Margin compression Director and Managementsuccession Stable Management team Strong core deposits Diversified loan portfolio Non-Interest Income streams Capital management Positioned for opportunity indisrupted environment Cybersecurity25
Bankers Cup – Recognizing the top 10% of Community Banks2nd Best Performing Community Bank in the Nation 2018-20195th Best Performing Community Bank in the Nation 2017(publicly traded with assets between 500 million and 10 billion)By Raymond James & Associates Sm-All Stars List of Top 30 Banks & Thrifts 2018-2020(publicly traded on a major exchange with market cap below 2.5 billion)By Sandler O’Neill PartnersRecentPerformanceBased Awards Top 100 Community Banks 2019Top 2% of all Community Banks 2018(with assets under 3 billion)By S&P Global Market Intelligence CB Top 10 – Recognizing the top 10% of Community Banks 2015-2020(community banks with assets between 500 million and 5 billion)By CB Resources, Inc. ‘Super Premier’ Performing Bank 2015-2019By The Findley Reports Bison Select Financial Institution 2019-2020(publicly traded banks without formal sell-side coverage)By D.A. Davidson26
Years at Plumas Bank - 3. EVP Chief Banking Officer. Years at Plumas Bank - 13. EVP Chief Financial Officer. Years at Plumas Bank – 15. BJ North. Aaron Boigon. Quincy. 5. . and online banking services. Lending services include:
