QUINCY, CA -- (MARKET WIRE) -- 08/18/05 --
The board of directors of Plumas Bancorp
(NASDAQ: PLBC), the parent company of Plumas Bank, at its August 17, 2005
meeting, approved a three-for-two common stock split. This split will be
payable on September 16, 2005 to shareholders of record as of September 2,
2005. Holders of the company's common stock as of the record date will
receive one additional share for every two shares they own. Plumas Bank
last split its stock in November 2002, also on a three-for-two basis.
"The local board of directors took this action," said William E. Elliott,
president and chief executive officer of Plumas Bancorp, "to reward
stockholders for our strong operating performance." Elliott continued, "We
believe that this split will broaden our market by placing the price of the
stock in a range more attractive to investors." This is the ninth time the
company has split its stock since its founding in 1980.
Headquartered in Quincy, California, with assets of over $450 million,
Plumas Bancorp maintains, through its subsidiary, Plumas Bank, twelve
full-service community banking offices serving the financial needs of local
families and businesses in Plumas, Lassen, Modoc, Shasta, Nevada, Placer
and Sierra Counties since 1980. The Bank provides deposit, lending,
mortgage, investment, and commercial financial products and services to
business and retail customers throughout its market area.
This news release includes forward-looking statements about Plumas
Bancorp's financial condition, results of operations, plans, objectives and
future performance. A number of factors, many of which are beyond the
control of Plumas Bancorp, could cause actual results to differ materially
from those in the forward-looking statements.
CONTACT:
Elizabeth Kuipers
Assistant Vice President, Marketing
Plumas Bank
(530) 283-7305 x8912