Forward-Looking Information
This Annual Report on Form 10-K includes forward-looking statements and information that is subject to the “safe harbor” provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements, which may involve Plumas Bancorp’s plans, beliefs, goals, expectations and forecasts are typically identified with words such as “may,” “could,” “should,” “will,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan” or words or phases of similar meaning. Forward looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the following factors:
| ■ | Local, regional, national and international economic conditions and the impact they may have on us and our customers, and our assessment of that impact on our estimates including, but not limited to, the allowance for credit losses. |
| ■ | The effects of and changes in trade, monetary and fiscal policies and laws, including the interest rate policies of the Federal Open Market Committee of the Federal Reserve Board. |
| ■ | The ability of Plumas Bank to pay dividends to Plumas Bancorp. |
| ■ | Potential adverse developments in the banking industry, such as bank failures, and the potential impact of such developments on customer confidence, liquidity, and regulatory responses to these developments. |
| ■ | The concentration of our loan portfolio in loans secured by real estate and changes in the prices, values and sales volumes of commercial and residential real estate. |
| ■ | The effects of concentrations in our loan portfolio, including geographic and industry concentrations. |
| ■ | Our failure to maintain required levels of capital and our ability to raise additional capital as needed. |
| ■ | Our failure to adequately manage our liquidity. |
| ■ | Risks related to our hedging activities. |
| ■ | Risks related to our recent acquisition of Cornerstone Community Bancorp and our growth strategy more generally, including the risk that we may not realize the anticipated benefits of such initiatives. |
| ■ | The effect of changes in accounting policies and practices, as may be adopted by bank regulatory agencies, the Financial Accounting Standards Board or others. |
| ■ | The costs and effects of changes in laws and regulations and of other legal and regulatory developments, including, but not limited to, increases in FDIC insurance premiums, legal proceedings or regulatory or other governmental inquiries, and the results of regulatory examinations, reviews or other inquires. |
| ■ | Changes in the interest rate environment and volatility of rate sensitive assets and liabilities. |
| ■ | Declines in the health of the economy, nationally or regionally, which could reduce the demand for loans, reduce the ability of borrowers to repay loans and/or reduce the value of real estate collateral securing most of our loans. |
| ■ | Credit quality deterioration, which could cause an increase in the provision for credit losses. |
| ■ | The impacts of inflation. |
| ■ | Devaluation of securities we own. |
| ■ | Asset/liability matching risks and liquidity risks. |
| ■ | Operational interruptions including data processing systems failure and fraud. |
| ■ | Cybersecurity threats and the cost of defending against them, including the costs of compliance with potential legislation to combat cybersecurity at a state, national or global level. |
| ■ | The possibility that we may reduce or discontinue the payments of dividends on common stock. |
| ■ | Risk associated with or resulting from our growth strategy. |
| ■ | Droughts and natural disasters, such as earthquakes, fires, and severe weather. |
| ■ | Our success in managing the risks involved in the foregoing. |
Plumas Bancorp undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements.
