Value Investor
Start free

Plumas Bancorp

PLBC on Nasdaq. Plumas Bancorp sells banking services to people and businesses through Plumas Bank. Market value $430m.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.

We can't read total debt from the filing, so debt is left out.

Should I look at this?

Worth a closer look

Why it could be worth it

What to watch out for

Nothing stood out in the numbers we check.

Read what could go wrong

This is not advice. Check the numbers below.

Compare with another stock

Return on equity
five annual reports to December 2025
17.9%five-year median

Yearly profit per dollar of owners' money: 18 cents. Above 10 is good.

Price to book
quarterly report to June 2026
1.6×

What you pay for each dollar of net assets: $1.58.

Earnings yield
past 12 months to June 2026
8.3%

Profit per $100 you pay: $8.35.

Quality score: 100 of 100. Price score: 85 of 100. Our list needs 70 on quality and 60 on price.

$61.70 a share, 55% above its 1-year low

Over the past year the price has ranged from $39.80 to $64.00.

Dividend: 1.8% a year

Paid every year for at least 5 years

Payouts have jumped around in recent years, so this may not repeat.

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

n/a
n/a
n/a
n/a
n/a
20212022202320242025
Revenue
n/an/an/an/an/a
Operating margin
n/an/an/an/an/a
Debt to equity
n/an/an/an/an/a
Shares outstanding
0.01bn0.01bn0.01bn0.01bn0.01bn

Health checks

  • Free cash flow positiveDoesn't apply to banks and insurers
  • Accounting checksDoesn't apply to banks and insurers
  • DebtDoesn't apply to banks and insurers
  • Revenue growth, five yearsUnknown
  • Buying back its own sharesNo, 19% more shares since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Profit: $10 million, up 58% on a year ago.
  • Spare cash over the past 12 months: $32 million, up from $25 million.
  • 18% more shares than a year ago. Each share owns a bit less of the company.
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$8m
December 2024$8m
March 2025$7m
June 2025$6m
September 2025$5m
December 2025$11m
March 2026$10m
June 2026$10m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
19 March 2026
Next quarterly (estimated, 10-Q)
4 November 2026

Who owns it

None of the long-term investors we follow own it. 105 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

2 investors own more than 5%.

  • BlackRock, Inc.
    Passive investor
    6.0%+1.1 pts
    Since 30 June 2026
  • FMR LLC
    Passive investor
    at least 2.8%−3.3 pts
    (filed with 1 related holder)
    Since 30 June 2026
  • The Vanguard Group
    Passive investor
    Sold down below 5%
    Since 31 March 2025

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 2 insiders bought $26,135 of shares on the open market. 2 sold $140,675.

  • Kaiser Kevin Craig
    EVP and Chief Credit Officer
    Sold
    Date
    26 August 2026
    Shares
    1,200
    Price
    $61.50
    Value
    $73,800
  • Moseley Matthew Brock
    EVP and Market President
    Bought
    Date
    15 May 2026
    Shares
    40
    Price
    $51.18
    Value
    $2,047
  • Foster Michael Kevin
    Director
    Bought
    Date
    11 May 2026
    Shares
    470
    Price
    $51.25
    Value
    $24,088
  • Robison Kenneth Edward III
    Director
    Sold
    Date
    20 February 2026
    Shares
    800
    Price
    $52.76
    Value
    $42,205
  • Robison Kenneth Edward III
    Director
    Sold
    Date
    27 January 2026
    Shares
    500
    Price
    $49.34
    Value
    $24,670

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 19 Mar 2026, plus the 10-Q filed 5 Aug 2026 and 8 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

What changed in the risks this year

Companies must list what could hurt them each year. These are the parts that changed since last year’s report.

  • We are subject to market, operational, accounting, credit and other related risks associated with our interest rate hedging strategies.

    Could happen
    To the extent a derivative contract does not meet the requirements for applying hedge accounting in accordance with GAAP, our earnings may be adversely affected. In particular, to be eligible for hedge accounting under GAAP, derivatives must be highly effective in offsetting changes in the value or cash flows of the hedged items and appropriately designated or documented as such. If it is determined that a derivative is not highly effective at hedging the designated exposure, hedge accounting is discontinued and the changes in fair value of the instrument are included in our reported net income.
    Read more

  • We are subject to market, operational, accounting, credit and other related risks associated with our interest rate hedging strategies.

    Could happen
    In addition, hedging strategies involve transaction and other costs. Therefore, our hedging strategies and the derivatives that we use may not adequately offset the risks of interest rate volatility and could result in or magnify losses, which could have an adverse effect on our financial condition and result of operations.
    Read more

  • We rely upon independent appraisals to determine the value of the real estate that secures a substantial portion of our loans, and the values indicated by such appraisals may not be realizable if we are forced to foreclose upon such loans.

    A substantial portion of our loan portfolio consists of loans secured by real estate. We generally rely upon appraisers at the time of origination to estimate the value of such real estate. Appraisals are only estimates of value, and the soundness of those estimates may be affected by volatility in the real estate market or other changes in market conditions. In addition, the appraisers may make mistakes of fact or judgment, which adversely affect the reliability of their appraisals. In addition, events occurring after the initial appraisal may cause the value of the real estate to increase or decrease. For example, since 2020 and in light of the prevalence of hybrid work arrangements and associated lower occupancy rates, in many cases the value of commercial real estate secured by office properties has declined. As a result of these factors, the real estate securing some of our loans may be less valuable than anticipated at the time the loans were made. If a default occurs on a loan secured by real estate that is less valuable than originally estimated, then we may not be able to recover the outstanding balance of the loan and will suffer a loss.
    Read more

  • We are subject to market, operational, accounting, credit and other related risks associated with our interest rate hedging strategies.

    Could happen
    We may seek to mitigate our interest rate risk by entering into interest rate swaps and other interest rate derivative contracts from time to time. No hedging strategy can completely protect us and the derivative financial instruments we elect may not be effective in reducing our interest rate risk. Our hedging strategies rely on assumptions and projections regarding interest rates, asset levels and general market factors and subject us to counterparty risks, such as the risks of insolvency or other inability of the counterparty to a particular transaction to perform its obligations thereunder, including providing sufficient collateral. Hedging strategies that prove to be ineffective, inaccurate assumptions or projections or the failure of a counterparty to fulfill its contractual obligations could increase our risks and losses.
    Read more

Read it in the annual report

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
Create a free account to run it

Your first deep dive is free.

What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.