norweger1979 Saturday, 10/26/13 09:27:26 AM Re: 56Chevy post# 3 Post # of 7 Plumas Bancorp Reports an 84% Increase in Third Quarter Net Income Financial Highlights September 30, 2013 compared to September 30, 2012 •Repurchased 8,816 shares of preferred stock formerly held by the U.S. Treasury. •Issued $7.5 million in subordinated debt. •Net charge-offs decreased by $1.7 million, or 52% from $3.3 million to $1.6 million. •Nonperforming loans decreased by $9.0 million or 60%. •Nonperforming assets decreased by $7.4 million or 37%. •The ratio of nonperforming loans to total loans decreased from 5.02% to 1.84%. •The ratio of nonperforming assets to total assets decreased from 4.28% to 2.41%. •Net loans increased by $26.6 million or 9%. •Total deposits increased by $55.1 million or 14%. •Total assets increased to over $525 million. strong developments: Net loans increased by $26.6 million, or 9%, from $294.5 million at September 30, 2012 to $321.1 million at September 30, 2013. The Company is focused on growing loan balances through a balanced and diversified approach. The increase in loan balances during the twelve month period ended September 30, 2013 mostly relates to growth in the Company's automobile and commercial real estate loan portfolios. Construction and land development loans declined during this same period by $1.8 million from $16.5 million at September 30, 2012 to $14.7 million at September 30, 2013. During 2013 we have experienced strong core deposit growth and have benefited from the closing of two branches of a large national bank in our service area. Total deposits were $461.4 million as of September 30, 2013, up $55.1 million from the September 30, 2012 balance of $406.3 million. Non-interest bearing demand deposits increased by $30.4 million, interest bearing transaction, or NOW, accounts increased by $5.8 million, savings and money market accounts increased by $28.2 million. Time deposits declined by $9.3 million. We attribute much of the reduction in time to the unusually low interest rate environment as we have seen a movement out of time into more liquid deposit types.