##### Table of Contents



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM 10-Q
 (Mark One)
 þ
    
    QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
 FOR THE QUARTERLY PERIOD ENDED March 31, 2009
 o
    
    TRANSITION REPORT UNDER SECTION 13 OR 15 (D) OF THE SECURITIES
EXCHANGE ACT OF 1934
 FOR THE TRANSITION PERIOD FROM  TO
 COMMISSION FILE NUMBER: 000-49883
 PLUMAS BANCORP
  California
    
    75-2987096(State or Other Jurisdiction of Incorporation or
    
    (I.R.S. Employer Identification No.)Organization)35 S. Lindan Avenue, Quincy, California
    
    95971(Address of Principal Executive Offices)
    
    (Zip Code)
 (530) 283-7305
 þ o
 Yes o
No o
  Large Accelerated Filer o
    
    Accelerated Filer o
    
    Non-Accelerated Filer o
    
    Smaller Reporting Company þ
 o þ




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TABLE OF CONTENTS  PART I  FINANCIAL INFORMATIONITEM 1. FINANCIAL STATEMENTSCONDENSED CONSOLIDATED BALANCE SHEETCONDENSED CONSOLIDATED STATEMENT OF INCOMECONDENSED CONSOLIDATED STATEMENT OF CASH FLOWSNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTSPART I  FINANCIAL INFORMATIONITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKITEM 4. CONTROLS AND PROCEDURESPART II  OTHER INFORMATIONITEM 1. LEGAL PROCEEDINGSITEM 1A RISK FACTORSITEM 2. UNREGISTERD SALES OF EQUITY SECURITIES AND USE OF PROCEEDSITEM 3. DEFAULTS UPON SENIOR SECURITIESITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERSITEM 5. OTHER INFORMATIONITEM 6. EXHIBITSSIGNATURESEXHIBIT INDEXExhibit 10.37Exhibit 10.41Exhibit 10.42Exhibit 31.1Exhibit 31.2Exhibit 32.1Exhibit 32.2    Table of Contents  
 
 PART I  FINANCIAL INFORMATION
 
 
 ITEM 1. FINANCIAL STATEMENTS
 PLUMAS
BANCORP
 
 
 CONDENSED CONSOLIDATED BALANCE SHEET
(Unaudited)
 March 31,
    
    
    December 31,2009
    
    
    2008AssetsCash and due from banks
    
    $
    25,307
    
    
    $
    18,791Federal funds sold
    
    
    
    
    
    
    Cash and cash equivalents
    
    
    25,307
    
    
    
    18,791Investment securities (fair value of $60,908 at March 31, 2009 and
$38,606 at December 31, 2008)
    
    
    60,706
    
    
    
    38,374Loans, less allowance for loan losses of $9,648 at March 31, 2009
and $7,224 at December 31, 2008 (Notes 3 and 4)
    
    
    351,768
    
    
    
    359,072Premises and equipment, net
    
    
    15,390
    
    
    
    15,764Intangible assets, net
    
    
    778
    
    
    
    821Bank owned life insurance
    
    
    9,851
    
    
    
    9,766Real estate and vehicles acquired through foreclosure
    
    
    3,531
    
    
    
    4,277Accrued interest receivable and other assets
    
    
    11,250
    
    
    
    10,310Total assets
    
    $
    478,581
    
    
    $
    457,175Liabilities and Shareholders EquityDeposits:Non-interest bearing
    
    $
    106,246
    
    
    $
    112,783Interest bearing
    
    
    279,465
    
    
    
    258,710Total deposits
    
    
    385,711
    
    
    
    371,493Short-term borrowings
    
    
    31,000
    
    
    
    34,000Accrued interest payable and other liabilities
    
    
    5,398
    
    
    
    5,935Junior subordinated deferrable interest debentures
    
    
    10,310
    
    
    
    10,310Total liabilities
    
    
    432,419
    
    
    
    421,738Commitments and contingencies (Note 4)
    
    
    
    
    
    
    Shareholders equity (Notes 5, 7 and 10):Serial preferred stock, no par value; 10,000,000 shares
authorized; 11,949 issued and outstanding at March 31, 2009
    
    
    11,531
    
    
    
    Common stock, no par value; 22,500,000 shares authorized; issued
and outstanding   4,776,339 shares at March 31, 2009 and
4,775,339 shares at December 31, 2008
    
    
    5,780
    
    
    
    5,302Retained earnings
    
    
    28,425
    
    
    
    29,818Accumulated other comprehensive income (Note 6)
    
    
    426
    
    
    
    317Total shareholders equity
    
    
    46,162
    
    
    
    35,437Total liabilities and shareholders equity
    
    $
    478,581
    
    
    $
    457,175
   2




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##### Table of Contents



PLUMAS
BANCORP
 
 
 CONDENSED CONSOLIDATED STATEMENT OF INCOME
(Unaudited)
 For the Three MonthsEnded March 31,2009
    
    
    2008Interest Income:Interest and fees on loans
    
    $
    5,102
    
    
    $
    6,224Interest on investment securities:Taxable
    
    
    334
    
    
    
    411Exempt from Federal income taxes
    
    
    119
    
    
    
    127Interest on Federal funds sold
    
    
    
    
    
    
    1Total interest income
    
    
    5,555
    
    
    
    6,763Interest Expense:Interest on deposits
    
    
    764
    
    
    
    1,546Interest on short-term borrowings
    
    
    17
    
    
    
    34Interest on junior subordinated deferrable interest debentures
    
    
    110
    
    
    
    191Other
    
    
    3
    
    
    
    4Total interest expense
    
    
    894
    
    
    
    1,775Net interest income before provision for loan losses
    
    
    4,661
    
    
    
    4,988Provision for Loan Losses
    
    
    2,900
    
    
    
    520Net interest income after provision for loan losses
    
    
    1,761
    
    
    
    4,468Non-Interest Income:Service charges
    
    
    906
    
    
    
    953Earnings on Bank owned life insurance policies
    
    
    107
    
    
    
    103Other
    
    
    153
    
    
    
    294Total non-interest income
    
    
    1,166
    
    
    
    1,350Non-Interest Expenses:Salaries and employee benefits
    
    
    2,881
    
    
    
    2,756Occupancy and equipment
    
    
    997
    
    
    
    959Other
    
    
    1,363
    
    
    
    1,245Total non-interest expenses
    
    
    5,241
    
    
    
    4,960Income (loss) before provision for income taxes
    
    
    (2,314
    )
    
    
    858Provision (Benefit) for Income Taxes
    
    
    (1,037
    )
    
    
    282Net income (loss)
    
    $
    (1,277
    )
    
    $
    576Basic earnings per share (Note 5)
    
    $
    (0.29
    )
    
    $
    0.12Diluted earnings per share (Note 5)
    
    $
    (0.29
    )
    
    $
    0.12
   3




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PLUMAS
BANCORP
 
 
 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited)
 For the Three MonthsEnded March 31,2009
    
    
    2008Cash Flows from Operating Activities:Net income (loss)
    
    $
    (1,277
    )
    
    $
    576Adjustments to reconcile net income to net cash provided by operating
activities:Provision for loan losses
    
    
    2,900
    
    
    
    520Change in deferred loan origination costs/fees, net
    
    
    41
    
    
    
    76Depreciation and amortization
    
    
    506
    
    
    
    528Stock-based compensation expense
    
    
    66
    
    
    
    69Amortization of investment security premiums
    
    
    20
    
    
    
    16Accretion of investment security discounts
    
    
    (11
    )
    
    
    (16
    )Net loss on sale of other real estate
    
    
    34
    
    
    
    Provision for losses on other real estate
    
    
    141
    
    
    
    25Net loss on sale of other vehicles owned
    
    
    30
    
    
    
    Earnings on bank-owned life insurance policies
    
    
    (85
    )
    
    
    (82
    )(Increase) decrease in accrued interest receivable and other assets
    
    
    (1,174
    )
    
    
    58(Decrease) in accrued interest payable and other liabilities
    
    
    (639
    )
    
    
    (210
    )Net cash provided by operating activities
    
    
    552
    
    
    
    1,560Cash Flows from Investing Activities:Proceeds from matured and called available-for-sale investment securities
    
    
    4,000
    
    
    
    4,500Proceeds from principal repayments from available-for-sale
government-guaranteed mortgage-backed securities
    
    
    1,056
    
    
    
    681Purchases of available-for-sale securities
    
    
    (27,212
    )
    
    
    Net decrease in loans
    
    
    4,186
    
    
    
    1,896Proceeds from sale of other real estate
    
    
    680
    
    
    
    Proceeds from sale of other vehicles
    
    
    119
    
    
    
    140Purchase of premises and equipment
    
    
    (12
    )
    
    
    (338
    )Net cash (used in )provided by investing activities
    
    
    (17,183
    )
    
    
    6,879
   4




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PLUMAS BANCORP
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited)
 For the Three MonthsEnded March 31,2009
    
    
    2008Cash Flows from Financing Activities:Net increase in demand, interest bearing and savings deposits
    
    $
    12,510
    
    
    $
    5,781Net increase (decrease) in time deposits
    
    
    1,708
    
    
    
    (6,733
    )Net decrease in short-term borrowings
    
    
    (3,000
    )
    
    
    (7,500
    )Net proceeds from exercise of stock options
    
    
    5
    
    
    
    3Issuance of preferred stock, net of discount
    
    
    11,517
    
    
    
    Issuance of common stock warrant
    
    
    407
    
    
    
    Repurchase and retirement of common stock
    
    
    
    
    
    
    (505
    )Net cash provided by (used in) financing activities
    
    
    23,147
    
    
    
    (8,954
    )Increase (decrease) in cash and cash equivalents
    
    
    6,516
    
    
    
    (515
    )Cash and Cash Equivalents at Beginning of Year
    
    
    18,791
    
    
    
    13,207Cash and Cash Equivalents at End of Period
    
    $
    25,307
    
    
    $
    12,692Supplemental Disclosure of Cash Flow Information:Cash paid during the period for:Interest expense
    
    $
    932
    
    
    $
    1,940Income taxes
    
    $
    
    
    
    $
    Non-Cash Investing Activities:Real estate and vehicles acquired through foreclosure
    
    $
    177
    
    
    $
    483Net change in unrealized gain/loss on available-for-sale securities
    
    $
    109
    
    
    $
    341
   5




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PLUMAS
BANCORP
 
 
 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
 1. GENERAL
    2. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
     6




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3. LOANS
  March 31,
    
    
    December 31,2009
    
    
    2008Commercial
    
    $
    41,642
    
    
    $
    42,528Agricultural
    
    
    38,875
    
    
    
    36,020Real estate  mortgage
    
    
    151,332
    
    
    
    151,943Real estate  construction and land development
    
    
    70,293
    
    
    
    73,820Consumer
    
    
    59,036
    
    
    
    61,706361,178
    
    
    
    366,017Deferred loan costs, net
    
    
    238
    
    
    
    279Allowance for loan losses
    
    
    (9,648
    )
    
    
    (7,224
    )$
    351,768
    
    
    $
    359,072
 4. COMMITMENTS AND CONTINGENCIES
      7




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5. EARNINGS PER SHARE
 For the Three MonthsEnded March 31,(In thousands, except per share data)
    
    2009
    
    
    2008Net Income (loss):Net income (loss)
    
    $
    (1,277
    )
    
    $
    576Dividends accrued and discount accreted on preferred shares
    
    
    (116
    )
    
    
    Net income (loss) allocated to common shareholders
    
    $
    (1,393
    )
    
    $
    576Earnings Per Share:Basic earnings per share
    
    $
    (0.29
    )
    
    $
    0.12Diluted earnings per share
    
    $
    (0.29
    )
    
    $
    0.12Weighted Average Number of Shares Outstanding:Basic shares
    
    
    4,776
    
    
    
    4,859Diluted shares
    
    
    4,776
    
    
    
    4,886
  6. COMPREHENSIVE INCOME
   7. STOCK-BASED COMPENSATION
    8




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WeightedAverageWeighted
    
    
    RemainingAverage
    
    
    ContractualExercise
    
    
    Term
    
    
    Intrinsic ValueShares
    
    
    Price
    
    
    (in years)
    
    
    (in thousands)Options outstanding at December 31, 2008
    
    
    466,956
    
    
    $
    13.38Options granted
    
    
    
    
    
    
    Options exercised
    
    
    (1,000
    )
    
    
    5.43Options cancelled
    
    
    (39,110
    )
    
    
    12.22Options outstanding at March 31, 2009
    
    
    426,846
    
    
    $
    13.51
    
    
    
    5.4
    
    
    $
    6Options exercisable at March 31, 2009
    
    
    283,311
    
    
    $
    13.03
    
    
    
    5.0
    
    
    $
    6Expected to vest after March 31, 2009
    
    
    143,535
    
    
    $
    14.46
    
    
    
    6.4
    
    
    $
    
   8. INCOME TAXES
      9




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9. FAIR VALUE MEASUREMENT
       Fair Value Measurements at March 31, 2009 UsingQuoted Prices inActive Markets for
    
    
    Significant Other
    
    
    SignificantIdentical Assets
    
    
    Observable Inputs
    
    
    Unobservable InputsTotal Fair Value
    
    
    (Level 1)
    
    
    (Level 2)
    
    
    (Level 3)Assets:Available-for-sale
securities
    
    $
    48,139,000
    
    
    $
    22,447,000
    
    
    $
    25,692,000
    
    
    $
    
   10




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##### Table of Contents



Fair Value Measurements at March 31, 2009 UsingQuoted Prices inActive Markets for
    
    
    Significant Other
    
    
    SignificantIdentical Assets
    
    
    Observable Inputs
    
    
    Unobservable InputsTotal Fair Value
    
    
    (Level 1)
    
    
    (Level 2)
    
    
    (Level 3)Assets:Impaired
loans
    
    $
    26,089,000
    
    
    $
    
    
    
    $
    26,089,000
    
    
    $
    
  10. PREFERRED STOCK
 
 
  11




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11.
RECENT ACCOUNTING DEVELOPMENTS
 Determining Fair Value When the Volume and Level of Activity for the Asset or
Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly   Interim Disclosures about Fair Value of Financial Instruments
 Recognition and Presentation of Other-Than-Temporary Impairments
  12




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PART I  FINANCIAL INFORMATION
 
 
 ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS
   INTRODUCTION
   CASH DIVIDEND
  CRITICAL ACCOUNTING POLICIES AND ESTIMATES
    13




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OVERVIEW
       14




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##### Table of Contents



RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2009
 Net interest income before provision for loan losses.
       15




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For the Three Months Ended March 31, 2009
        
    
    For the Three Months Ended March 31, 2008Average Balance
    
    
    Interest
    
    
    Yield/
    
    
    Average Balance
    
    
    Interest
    
    
    Yield/(in thousands)
    
    
    (in thousands)
    
    
    Rate
    
    
    (in thousands)
    
    
    (in thousands)
    
    
    RateInterest-earning assets:Loans (1) (2)
    
    $
    362,439
    
    
    $
    5,102
    
    
    
    5.71
    %
    
    $
    351,221
    
    
    $
    6,224
    
    
    
    7.13
    %Investment securities (1)
    
    
    45,838
    
    
    
    453
    
    
    
    4.01
    %
    
    
    53,088
    
    
    
    538
    
    
    
    4.08
    %Federal funds sold
    
    
    43
    
    
    
    
    
    
    
    2.28
    %
    
    
    179
    
    
    
    1
    
    
    
    2.25
    %Total interest-earning assets
    
    
    408,320
    
    
    
    5,555
    
    
    
    5.52
    %
    
    
    404,488
    
    
    
    6,763
    
    
    
    6.72
    %Cash and due from banks
    
    
    17,565
    
    
    
    
    
    
    
    
    
    
    
    11,715Other assets
    
    
    33,755
    
    
    
    
    
    
    
    
    
    
    
    31,668Total assets
    
    $
    459,640
    
    
    
    
    
    
    
    
    
    
    $
    447,871Interest-bearing liabilities:NOW deposits
    
    $
    78,357
    
    
    
    109
    
    
    
    0.56
    %
    
    $
    73,277
    
    
    
    188
    
    
    
    1.03
    %Money market deposits
    
    
    40,871
    
    
    
    85
    
    
    
    0.84
    %
    
    
    36,531
    
    
    
    68
    
    
    
    0.75
    %Savings deposits
    
    
    49,726
    
    
    
    23
    
    
    
    0.19
    %
    
    
    46,679
    
    
    
    43
    
    
    
    0.37
    %Time deposits
    
    
    98,489
    
    
    
    547
    
    
    
    2.25
    %
    
    
    125,303
    
    
    
    1,247
    
    
    
    4.00
    %Total deposits
    
    
    267,443
    
    
    
    764
    
    
    
    1.16
    %
    
    
    281,790
    
    
    
    1,546
    
    
    
    2.21
    %Short-term borrowings
    
    
    26,462
    
    
    
    17
    
    
    
    0.26
    %
    
    
    4,057
    
    
    
    34
    
    
    
    3.37
    %Other interest-bearing liabilities
    
    
    222
    
    
    
    3
    
    
    
    5.48
    %
    
    
    308
    
    
    
    4
    
    
    
    5.22
    %Junior subordinated debentures
    
    
    10,310
    
    
    
    110
    
    
    
    4.33
    %
    
    
    10,310
    
    
    
    191
    
    
    
    7.45
    %Total interest-bearing liabilities
    
    
    304,437
    
    
    
    894
    
    
    
    1.19
    %
    
    
    296,465
    
    
    
    1,775
    
    
    
    2.41
    %Non-interest bearing deposits
    
    
    105,906
    
    
    
    
    
    
    
    
    
    
    
    108,192Other liabilities
    
    
    5,378
    
    
    
    
    
    
    
    
    
    
    
    5,743Shareholders equity
    
    
    43,919
    
    
    
    
    
    
    
    
    
    
    
    37,471Total liabilities & equity
    
    $
    459,640
    
    
    
    
    
    
    
    
    
    
    $
    447,871Cost of funding interest-earning assets (3)
    
    
    
    
    
    
    
    
    
    
    0.89
    %
    
    
    
    
    
    
    
    
    
    
    1.76
    %Net interest income and margin (4)
    
    
    
    
    
    $
    4,661
    
    
    
    4.63
    %
    
    
    
    
    
    $
    4,988
    
    
    
    4.96
    %
 
 (1)
    
    Not computed on a tax-equivalent basis.(2)
    
    Net loan costs included in loan interest income for the three-month periods ended March 31,
2009 and 2008 were $65,000 and $77,000, respectively.(3)
    
    Total annualized interest expense divided by the average balance of total earning assets.(4)
    
    Annualized net interest income divided by the average balance of total earning assets.  16




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2009 over 2008 change in net interest incomefor the three months ended March 31(in thousands)Volume (1)
    
    
    Rate (2)
    
    
    Mix (3)
    
    
    TotalInterest-earning assets:Loans
    
    $
    197
    
    
    $
    (1,228
    )
    
    $
    (91
    )
    
    $
    (1,122
    )Investment securities
    
    
    (73
    )
    
    
    (9
    )
    
    
    (3
    )
    
    
    (85
    )Federal funds sold
    
    
    (1
    )
    
    
    
    
    
    
    
    
    
    
    (1
    )Total interest income
    
    
    123
    
    
    
    (1,237
    )
    
    
    (94
    )
    
    
    (1,208
    )Interest-bearing liabilities:NOW deposits
    
    
    13
    
    
    
    (84
    )
    
    
    (8
    )
    
    
    (79
    )Money market deposits
    
    
    8
    
    
    
    9
    
    
    
    
    
    
    
    17Savings deposits
    
    
    2
    
    
    
    (21
    )
    
    
    (1
    )
    
    
    (20
    )Time deposits
    
    
    (265
    )
    
    
    (541
    )
    
    
    106
    
    
    
    (700
    )Short-term borrowings
    
    
    186
    
    
    
    (31
    )
    
    
    (172
    )
    
    
    (17
    )Other interest-bearing liabilities
    
    
    (1
    )
    
    
    
    
    
    
    
    
    
    
    (1
    )Junior subordinated debentures
    
    
    
    
    
    
    (81
    )
    
    
    
    
    
    
    (81
    )Total interest expense
    
    
    (57
    )
    
    
    (749
    )
    
    
    (75
    )
    
    
    (881
    )Net interest income
    
    $
    180
    
    
    $
    (488
    )
    
    $
    (19
    )
    
    $
    (327
    )
 
 (1)
    
    The volume change in net interest income represents the change in average balance multiplied by
the previous years rate.(2)
    
    The rate change in net interest income represents the change in rate multiplied by the previous
years average balance.(3)
    
    The mix change in net interest income represents the change in average balance multiplied by
the change in rate. Provision for loan losses.
   17




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Non-interest income.
   For the Three MonthsEnded March 31
    
    
    Dollar
    
    
    Percentage2009
    
    
    2008
    
    
    Change
    
    
    ChangeService charges on deposit accounts
    
    $
    906
    
    
    $
    953
    
    
    $
    (47
    )
    
    
    -4.9
    %Earnings on life insurance policies
    
    
    107
    
    
    
    103
    
    
    
    4
    
    
    
    3.9
    %Merchant processing income
    
    
    51
    
    
    
    63
    
    
    
    (12
    )
    
    
    -19.0
    %Investment services income
    
    
    30
    
    
    
    35
    
    
    
    (5
    )
    
    
    -14.3
    %Customer service fees
    
    
    28
    
    
    
    29
    
    
    
    (1
    )
    
    
    -3.4
    %Safe deposit box and night depository income
    
    
    17
    
    
    
    17
    
    
    
    
    
    
    
    
    %Gain on sale of loans
    
    
    10
    
    
    
    18
    
    
    
    (8
    )
    
    
    -44.4
    %Official check fees
    
    
    5
    
    
    
    38
    
    
    
    (33
    )
    
    
    -86.8
    %Federal Home Loan Bank dividends
    
    
    
    
    
    
    28
    
    
    
    (28
    )
    
    
    -100
    %Loss on sale of vehicles and foreclosed real estate
    
    
    (64
    )
    
    
    
    
    
    
    (64
    )
    
    
    -100
    %Other
    
    
    76
    
    
    
    66
    
    
    
    10
    
    
    
    15.2
    %Total non-interest income
    
    $
    1,166
    
    
    $
    1,350
    
    
    $
    (184
    )
    
    
    -13.6
    %
 Non-interest expenses.
  18




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##### Table of Contents



For the Three MonthsEnded March 31
    
    
    Dollar
    
    
    Percentage2009
    
    
    2008
    
    
    Change
    
    
    ChangeSalaries and employee benefits
    
    $
    2,881
    
    
    $
    2,756
    
    
    $
    125
    
    
    
    4.5
    %Occupancy and equipment
    
    
    997
    
    
    
    959
    
    
    
    38
    
    
    
    4.0
    %Outside service fees
    
    
    199
    
    
    
    170
    
    
    
    29
    
    
    
    17.1
    %Professional fees
    
    
    168
    
    
    
    163
    
    
    
    5
    
    
    
    3.1
    %FDIC Insurance and assessments
    
    
    146
    
    
    
    12
    
    
    
    134
    
    
    
    1,116.7
    %Provision for OREO losses
    
    
    141
    
    
    
    24
    
    
    
    117
    
    
    
    487.5
    %Loan and collection expenses
    
    
    127
    
    
    
    66
    
    
    
    61
    
    
    
    92.4
    %Telephone and data communication
    
    
    105
    
    
    
    102
    
    
    
    3
    
    
    
    2.9
    %Advertising and shareholder relations
    
    
    78
    
    
    
    104
    
    
    
    (26
    )
    
    
    -25.0
    %Director compensation and retirement
    
    
    75
    
    
    
    92
    
    
    
    (17
    )
    
    
    -18.5
    %Business development
    
    
    74
    
    
    
    141
    
    
    
    (67
    )
    
    
    -47.5
    %Armored car and courier
    
    
    67
    
    
    
    68
    
    
    
    (1
    )
    
    
    -1.5
    %Postage
    
    
    58
    
    
    
    58
    
    
    
    
    
    
    
    
    %Stationery and supplies
    
    
    51
    
    
    
    58
    
    
    
    (7
    )
    
    
    -12.1
    %Deposit premium amortization
    
    
    43
    
    
    
    75
    
    
    
    (32
    )
    
    
    -42.7
    %Insurance
    
    
    (27
    )
    
    
    57
    
    
    
    (84
    )
    
    
    -147.4
    %Other
    
    
    58
    
    
    
    55
    
    
    
    3
    
    
    
    5.5
    %Total non-interest expense
    
    $
    5,241
    
    
    $
    4,960
    
    
    $
    281
    
    
    
    5.7
    %
  19




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##### Table of Contents



Provision (benefit) for income taxes.
 FINANCIAL CONDITION
 Fair value. Fair Value Measurements,
 Notes to Condensed Consolidated Financial Statements
 Loan portfolio composition.
    20




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##### Table of Contents



Nonperforming loans.
   Nonperforming assets.
 Analysis of allowance for loan losses.
   21




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##### Table of Contents



For the Three MonthsEnded March 31,2009
    
    
    2008Balance at January 1,
    
    $
    7,224
    
    
    $
    4,211Charge-offs:Commercial and agricultural
    
    
    (150
    )
    
    
    (48
    )Real estate mortgage
    
    
    (61
    )
    
    
    Real estate construction
    
    
    (138
    )
    
    
    Consumer
    
    
    (180
    )
    
    
    (103
    )Total charge-offs
    
    
    (529
    )
    
    
    (151
    )Recoveries:Commercial and agricultural
    
    
    
    
    
    
    4Real estate mortgage
    
    
    
    
    
    
    Real estate construction
    
    
    
    
    
    
    Consumer
    
    
    53
    
    
    
    49Total recoveries
    
    
    53
    
    
    
    53Net charge-offs
    
    
    (476
    )
    
    
    (98
    )Provision for loan losses
    
    
    2,900
    
    
    
    520Balance at March 31,
    
    $
    9,648
    
    
    $
    4,633Net charge-offs during the three-month period to average loans
    
    
    0.13
    %
    
    
    0.03
    %Allowance for loan losses to total loans
    
    
    2.67
    %
    
    
    1.32
    %
 Investment securities.
 Premises and equipment. ,
 Deposits.
  22




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##### Table of Contents



Short-term borrowing arrangements.
   CAPITAL RESOURCES
     23




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##### Table of Contents



24




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##### Table of Contents



March 31, 2009
    
    

December 31, 2008Amount
    
    
    Ratio
    
    
    Amount
    
    
    RatioTier 1 Leverage RatioPlumas Bancorp and Subsidiary
    
    $
    54,208
    
    
    
    11.8
    %
    
    $
    43,885
    
    
    
    9.8
    %Minimum regulatory requirement
    
    
    18,303
    
    
    
    4.0
    %
    
    
    17,907
    
    
    
    4.0
    %Plumas Bank
    
    
    42,036
    
    
    
    9.2
    %
    
    
    43,372
    
    
    
    9.7
    %Minimum requirement for
Well-Capitalized institution
under the prompt corrective
action plan
    
    
    22,861
    
    
    
    5.0
    %
    
    
    22,365
    
    
    
    5.0
    %Minimum regulatory requirement
    
    
    18,289
    
    
    
    4.0
    %
    
    
    17,892
    
    
    
    4.0
    %Tier 1 Risk-Based Capital RatioPlumas Bancorp and Subsidiary
    
    
    54,208
    
    
    
    13.8
    %
    
    
    43,885
    
    
    
    11.0
    %Minimum regulatory requirement
    
    
    15,749
    
    
    
    4.0
    %
    
    
    16,021
    
    
    
    4.0
    %Plumas Bank
    
    
    42,036
    
    
    
    10.7
    %
    
    
    43,372
    
    
    
    10.8
    %Minimum requirement for
Well-Capitalized institution
under the prompt corrective
action plan
    
    
    23,587
    
    
    
    6.0
    %
    
    
    23,996
    
    
    
    6.0
    %Minimum regulatory requirement
    
    
    15,725
    
    
    
    4.0
    %
    
    
    15,997
    
    
    
    4.0
    %Total Risk-Based Capital RatioPlumas Bancorp and Subsidiary
    
    
    59,189
    
    
    
    15.0
    %
    
    
    48,919
    
    
    
    12.2
    %Minimum regulatory requirement
    
    
    31,498
    
    
    
    8.0
    %
    
    
    32,042
    
    
    
    8.0
    %Plumas Bank
    
    
    47,009
    
    
    
    12.0
    %
    
    
    48,399
    
    
    
    12.1
    %Minimum requirement for
Well-Capitalized institution
under the prompt corrective
action plan
    
    
    39,311
    
    
    
    10.0
    %
    
    
    39,994
    
    
    
    10.0
    %Minimum regulatory requirement
    
    
    31,449
    
    
    
    8.0
    %
    
    
    31,995
    
    
    
    8.0
    %
 LIQUIDITY
     25




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##### Table of Contents



ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
  
 
 ITEM 4. CONTROLS AND PROCEDURES
   
 
 PART II  OTHER INFORMATION
 
 
 ITEM 1. LEGAL PROCEEDINGS
  
 
 ITEM 1A RISK FACTORS
   26




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##### Table of Contents



ITEM 2. UNREGISTERD SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
 (a)
    
    The information required by this item was included in the Companys Form 8-K filed
on January 30, 2009.(b)
    
    None.(c)
    
    None.
 
 
 ITEM 3. DEFAULTS UPON SENIOR SECURITIES
  
 
 ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
  
 
 ITEM 5. OTHER INFORMATION
   27




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##### Table of Contents



ITEM 6. EXHIBITS
  3.1
    
    Articles of Incorporation as amended of Registrant included as exhibit 3.1 to the Registrants
Form S-4, File No. 333-84534, which is incorporated by
reference herein.3.2
    
    Bylaws of Registrant as amended on January 21, 2009, is included as exhibit 3.2 to the
Registrants 10-K for December 31, 2008, which is incorporated by this reference herein.3.3
    
    Amendment of the Articles of Incorporation of Registrant dated November 1, 2002, is included
as exhibit 3.3 to the Registrants 10-Q for September 30, 2005, which is incorporated by this
reference herein.3.4
    
    Amendment of the Articles of Incorporation of Registrant dated August 17, 2005, is included as
exhibit 3.4 to the Registrants 10-Q for September 30, 2005, which is incorporated by this
reference herein.4
    
    Specimen form of certificate for Plumas Bancorp included as exhibit 4 to the Registrants
Form S-4, File No. 333-84534, which is incorporated by reference herein.4.1
    
    Certificate of Determination of Fixed Rate Cumulative Perpetual Preferred Stock, Series A, is
included as exhibit 4.1 to Registrants 8-K filed on January 30, 2009, which is incorporated
by this reference herein.10.1
    
    Executive Salary Continuation Agreement of Andrew J. Ryback dated December 17, 2008, is
included as exhibit 10.1 to the Registrants 10-K for December 31, 2008, which is incorporated
by this reference herein.10.2
    
    Split Dollar Agreement of Andrew J. Ryback dated August 23, 2005, is included as Exhibit 10.2
to the Registrants 8-K filed on October 17, 2005, which is incorporated by this reference
herein.10.5
    
    Employment Agreement of Douglas N. Biddle dated February 18, 2009, is included as
Exhibit 10.05 to the Registrants 8-K filed on February 19, 2009, which is incorporated by
this reference herein.10.6
    
    Executive Salary Continuation Agreement as amended of Douglas N. Biddle dated June 2, 1994, is
included as Exhibit 10.6 to the Registrants 10-QSB for June 30, 2002, which is incorporated
by this reference herein.10.7
    
    Split Dollar Agreements of Douglas N. Biddle dated January 24, 2002, is included as
Exhibit 10.7 to the Registrants 10-QSB for June 30, 2002, which is incorporated by this
reference herein.10.8
    
    Director Retirement Agreement of John Flournoy dated March 21, 2007, is included as Exhibit
10.8 to Registrants 10-Q for March 31, 2007, which is incorporated by this reference herein.10.11
    
    First Amendment to Executive Salary Continuation Agreement of Robert T. Herr dated
September 15, 2004, is included as Exhibit 10.11 to the Registrants 8-K filed on September 17,
2004, which is incorporated by this reference herein.10.18
    
    Amended and Restated Director Retirement Agreement of Daniel E. West dated May 10, 2000, is
included as Exhibit 10.18 to the Registrants 10-QSB for June 30, 2002, which is incorporated
by this reference herein.10.19
    
    Consulting Agreement of Daniel E. West dated May 10, 2000, is included as Exhibit 10.19 to the
Registrants 10-QSB for June 30, 2002, which is incorporated by this reference herein.
  28




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##### Table of Contents



10.20
    
    Split Dollar Agreements of Robert T. Herr dated September 15, 2004, is included as
Exhibit 10.20 to the Registrants 8-K filed on September 17, 2004, which is incorporated by
this reference herein.10.21
    
    Amended and Restated Director Retirement Agreement of Alvin G. Blickenstaff dated April 19,
2000, is included as Exhibit 10.21 to the Registrants 10-QSB for June 30, 2002, which is
incorporated by this reference herein.10.22
    
    Consulting Agreement of Alvin G. Blickenstaff dated May 8, 2000, is included as Exhibit 10.22
to the Registrants 10-QSB for June 30, 2002, which is incorporated by this reference herein.10.24
    
    Amended and Restated Director Retirement Agreement of Gerald W. Fletcher dated May 10, 2000,
is included as Exhibit 10.24 to the Registrants 10-QSB for June 30, 2002, which is
incorporated by this reference herein.10.25
    
    Consulting Agreement of Gerald W. Fletcher dated May 10, 2000, is included as Exhibit 10.25 to
the Registrants 10-QSB for June 30, 2002, which is incorporated by this reference herein.10.27
    
    Amended and Restated Director Retirement Agreement of Arthur C. Grohs dated May 9, 2000, is
included as Exhibit 10.27 to the Registrants 10-QSB for June 30, 2002, which is incorporated
by this reference herein.10.28
    
    Consulting Agreement of Arthur C. Grohs dated May 9, 2000, is included as Exhibit 10.28 to the
Registrants 10-QSB for June 30, 2002, which is incorporated by this reference herein.10.33
    
    Amended and Restated Director Retirement Agreement of Terrance J. Reeson dated April 19, 2000,
is included as Exhibit 10.33 to the Registrants 10-QSB for June 30, 2002, which is
incorporated by this reference herein.10.34
    
    Consulting Agreement of Terrance J. Reeson dated May 10, 2000, is included as Exhibit 10.34 to
the Registrants 10-QSB for June 30, 2002, which is incorporated by this reference herein.10.35
    
    Letter Agreement, dated January 30, 2009 by and between Plumas Bancorp, Inc. and the United
States Department of the Treasury and Securities Purchase Agreement  Standard Terms attached
thereto, is included as exhibit 10.1 to Registrants 8-K filed on January 30, 2009, which is
incorporated by this reference herein.10.36
    
    Form of Senior Executive Officer letter agreement, is included as exhibit 10.2 to Registrants
8-K filed on January 30, 2009, which is incorporated by this reference herein.10.37
    
    Deferred Fee
Agreement of Alvin Blickenstaff.10.40
    
    2001 Stock Option Plan as amended is included as exhibit 99.1 of the Form S-8 filed July 23,
2002, File No. 333-96957, which is incorporated by this reference herein.10.41
    
    Form of Indemnification Agreement (Plumas Bancorp).10.42
    
    Form of Indemnification Agreement (Plumas Bank).10.43
    
    Plumas Bank 401(k) Profit Sharing Plan as amended is included as exhibit 99.1 of the Form S-8
filed February 14, 2003, File No. 333-103229, which is incorporated by this reference herein.10.44
    
    Executive Salary Continuation Agreement of Robert T. Herr dated June 4, 2002, is included as
Exhibit 10.44 to the Registrants 10-Q for March 31, 2003, which is incorporated by this
reference herein.
  29




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##### Table of Contents



10.46
    
    1991 Stock Option Plan as amended is included as Exhibit 10.46 to the Registrants 10-Q for
September 30, 2004, which is incorporated by this reference herein.10.47
    
    Specimen form of Incentive Stock Option Agreement under the 1991 Stock Option Plan is included
as Exhibit 10.47 to the Registrants 10-Q for September 30, 2004, which is incorporated by
this reference herein.10.48
    
    Specimen form of Non-Qualified Stock Option Agreement under the 1991 Stock Option Plan is
included as Exhibit 10.48 to the Registrants 10-Q for September 30, 2004, which is
incorporated by this reference herein.10.49
    
    Amended and Restated Plumas Bancorp Stock Option Plan is included as Exhibit 10.49 to the
Registrants 10-Q for September 30, 2006, which is incorporated by this reference herein.10.50
    
    Executive Salary Continuation Agreement of Rose Dembosz, is included as exhibit 10.50 to the
Registrants 10-K for December 31, 2008, which is incorporated by this reference herein.10.51
    
    First Amendment to Split Dollar Agreement of Andrew J. Ryback, is included as exhibit 10.51 to
the Registrants 10-K for December 31, 2008, which is incorporated by this reference herein.10.52
    
    Executive Salary Continuation Agreement of Douglas N. Biddle dated December 17, 2008, is
included as exhibit 10.52 to the Registrants 10-K for December 31, 2008, which is
incorporated by this reference herein.10.53
    
    Second Amendment to Executive Salary Continuation Agreement of Douglas N. Biddle dated June 2,
1994 and Amended February 16, 2000, is included as exhibit 10.53 to the Registrants 10-K for
December 31, 2008, which is incorporated by this reference herein.10.54
    
    First Amendment to Addendum A of Split Dollar Agreements of Douglas N. Biddle dated
January 24, 2002, is included as exhibit 10.54 to the Registrants 10-K for December 31, 2008,
which is incorporated by this reference herein.10.55
    
    First Amendment to Addendum B of Split Dollar Agreements of Douglas N. Biddle dated
January 24, 2002, is included as exhibit 10.55 to the Registrants 10-K for December 31, 2008,
which is incorporated by this reference herein.10.56
    
    Second Amendment to Executive Salary Continuation Agreement of Robert T. Herr dated
June 4, 2002 and Amended September 15, 2004, is included as exhibit 10.56 to the Registrants
10-K for December 31, 2008, which is incorporated by this reference herein.10.57
    
    First Amendment to Split Dollar Agreements of Robert T. Herr dated September 15, 2004, is
included as exhibit 10.57 to the Registrants 10-K for December 31, 2008, which is
incorporated by this reference herein.10.58
    
    Executive Salary Continuation Agreement of Robert T. Herr dated December 17, 2008, is included
as exhibit 10.58 to the Registrants 10-K for December 31, 2008, which is incorporated by this
reference herein.10.64
    
    First Amendment to the Plumas Bank Amended and Restated Director Retirement Agreement for
Alvin Blickenstaff adopted on September 19, 2007, is included as Exhibit 10.64 to the
Registrants 8-K filed on September 25, 2007, which is incorporated by this reference herein.10.65
    
    First Amendment to the Plumas Bank Amended and Restated Director Retirement Agreement for
Arthur C. Grohs adopted on September 19, 2007, is included as Exhibit 10.65 to the
Registrants 8-K filed on September 25, 2007, which is incorporated by this reference herein.
  30




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##### Table of Contents



10.67
    
    First Amendment to the Plumas Bank Amended and Restated Director Retirement Agreement for
Terrance J. Reeson adopted on September 19, 2007, is included as Exhibit 10.67 to the
Registrants 8-K filed on September 25, 2007, which is incorporated by this reference herein.10.69
    
    First Amendment to the Plumas Bank Amended and Restated Director Retirement Agreement for
Daniel E. West adopted on September 19, 2007, is included as Exhibit 10.69 to the Registrants
8-K filed on September 25, 2007, which is incorporated by this reference herein.10.70
    
    First Amendment to the Plumas Bank Amended and Restated Director Retirement Agreement for
Gerald W. Fletcher adopted on October 9, 2007, is included as Exhibit 10.70 to the
Registrants 10-Q for September 30, 2007, which is incorporated by this reference herein.11
    
    Computation of per share earnings appears in the attached 10-Q under Plumas Bancorp and
Subsidiary Notes to Condensed Consolidated Financial Statements as Footnote 5  Earnings Per
Share.31.1
    
    Rule 13a-14(a) [Section 302] Certification of Principal Financial Officer dated May 13, 2009.31.2
    
    Rule 13a-14(a) [Section 302] Certification of Principal Executive Officer dated May 13, 2009.32.1
    
    Certification of Principal Financial Officer pursuant to 18 U.S.C. Section 1350, As Adopted
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 dated May 13, 2009.32.2
    
    Certification of Principal Executive Officer pursuant to 18 U.S.C. Section 1350, As Adopted
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 dated May 13, 2009.
  31




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##### Table of Contents



SIGNATURES
  PLUMAS BANCORP
(Registrant)Date: May 13, 2009/s/ Andrew J. RybackAndrew J. RybackExecutive Vice President Chief Financial Officer/s/ Douglas N. BiddleDouglas N. BiddlePresident and Chief Executive Officer  32




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##### Table of Contents



EXHIBIT INDEX
 Exhibit
No.
    

Description3.1
    
    Articles of Incorporation as amended of Registrant included as exhibit 3.1 to the Registrants
Form S-4, File No. 333-84534, which is incorporated by reference herein.3.2
    
    Bylaws of Registrant as amended on January 21, 2009, is included as exhibit 3.2 to the
Registrants 10-K for December 31, 2008, which is incorporated by this reference herein.3.3
    
    Amendment of the Articles of Incorporation of Registrant dated November 1, 2002, is included
as exhibit 3.3 to the Registrants 10-Q for September 30, 2005, which is incorporated by this
reference herein.3.4
    
    Amendment of the Articles of Incorporation of Registrant dated August 17, 2005, is included as
exhibit 3.4 to the Registrants 10-Q for September 30, 2005, which is incorporated by this
reference herein.4
    
    Specimen form of certificate for Plumas Bancorp included as exhibit 4 to the Registrants
Form S-4, File No. 333-84534, which is incorporated by reference herein.4.1
    
    Certificate of Determination of Fixed Rate Cumulative Perpetual Preferred Stock, Series A, is
included as exhibit 4.1 to Registrants 8-K filed on January 30, 2009, which is incorporated
by this reference herein.10.1
    
    Executive Salary Continuation Agreement of Andrew J. Ryback dated December 17, 2008, is
included as exhibit 10.1 to the Registrants 10-K for December 31, 2008, which is incorporated
by this reference herein.10.2
    
    Split Dollar Agreement of Andrew J. Ryback dated August 23, 2005, is included as Exhibit 10.2
to the Registrants 8-K filed on October 17, 2005, which is incorporated by this reference
herein.10.5
    
    Employment Agreement of Douglas N. Biddle dated February 18, 2009, is included as
Exhibit 10.05 to the Registrants 8-K filed on February 19, 2009, which is incorporated by
this reference herein.10.6
    
    Executive Salary Continuation Agreement as amended of Douglas N. Biddle dated June 2, 1994, is
included as Exhibit 10.6 to the Registrants 10-QSB for June 30, 2002, which is incorporated
by this reference herein.10.7
    
    Split Dollar Agreements of Douglas N. Biddle dated January 24, 2002, is included as
Exhibit 10.7 to the Registrants 10-QSB for June 30, 2002, which is incorporated by this
reference herein.10.8
    
    Director Retirement Agreement of John Flournoy dated March 21, 2007, is included as Exhibit
10.8 to Registrants 10-Q for March 31, 2007, which is incorporated by this reference herein.10.11
    
    First Amendment to Executive Salary Continuation Agreement of Robert T. Herr dated
September 15, 2004, is included as Exhibit 10.11 to the Registrants 8-K filed on September 17,
2004, which is incorporated by this reference herein.10.18
    
    Amended and Restated Director Retirement Agreement of Daniel E. West dated May 10, 2000, is
included as Exhibit 10.18 to the Registrants 10-QSB for June 30, 2002, which is incorporated
by this reference herein.10.19
    
    Consulting Agreement of Daniel E. West dated May 10, 2000, is included as Exhibit 10.19 to the
Registrants 10-QSB for June 30, 2002, which is incorporated by this reference herein.10.20
    
    Split Dollar Agreements of Robert T. Herr dated September 15, 2004, is included as
Exhibit 10.20 to the Registrants 8-K filed on September 17, 2004, which is incorporated by
this reference herein.
  33




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##### Table of Contents



Exhibit
No.
    

Description10.21
    
    Amended and Restated Director Retirement Agreement of Alvin G. Blickenstaff dated April 19,
2000, is included as Exhibit 10.21 to the Registrants 10-QSB for June 30, 2002, which is
incorporated by this reference herein.10.22
    
    Consulting Agreement of Alvin G. Blickenstaff dated May 8, 2000, is included as Exhibit 10.22
to the Registrants 10-QSB for June 30, 2002, which is incorporated by this reference herein.10.24
    
    Amended and Restated Director Retirement Agreement of Gerald W. Fletcher dated May 10, 2000,
is included as Exhibit 10.24 to the Registrants 10-QSB for June 30, 2002, which is
incorporated by this reference herein.10.25
    
    Consulting Agreement of Gerald W. Fletcher dated May 10, 2000, is included as Exhibit 10.25 to
the Registrants 10-QSB for June 30, 2002, which is incorporated by this reference herein.10.27
    
    Amended and Restated Director Retirement Agreement of Arthur C. Grohs dated May 9, 2000, is
included as Exhibit 10.27 to the Registrants 10-QSB for June 30, 2002, which is incorporated
by this reference herein.10.28
    
    Consulting Agreement of Arthur C. Grohs dated May 9, 2000, is included as Exhibit 10.28 to the
Registrants 10-QSB for June 30, 2002, which is incorporated by this reference herein.10.33
    
    Amended and Restated Director Retirement Agreement of Terrance J. Reeson dated April 19, 2000,
is included as Exhibit 10.33 to the Registrants 10-QSB for June 30, 2002, which is
incorporated by this reference herein.10.34
    
    Consulting Agreement of Terrance J. Reeson dated May 10, 2000, is included as Exhibit 10.34 to
the Registrants 10-QSB for June 30, 2002, which is incorporated by this reference herein.10.35
    
    Letter Agreement, dated January 30, 2009 by and between Plumas Bancorp, Inc. and the United
States Department of the Treasury and Securities Purchase Agreement  Standard Terms attached
thereto, is included as exhibit 10.1 to Registrants 8-K filed on January 30, 2009, which is
incorporated by this reference herein.10.36
    
    Form of Senior Executive Officer letter agreement, is included as exhibit 10.2 to Registrants
8-K filed on January 30, 2009, which is incorporated by this reference herein.10.37
    
    Deferred Fee
Agreement of Alvin Blickenstaff.10.40
    
    2001 Stock Option Plan as amended is included as exhibit 99.1 of the Form S-8 filed July 23,
2002, File No. 333-96957, which is incorporated by this reference herein.10.41
    
    Form of Indemnification Agreement (Plumas Bancorp).10.42
    
    Form of Indemnification Agreement (Plumas Bank).10.43
    
    Plumas Bank 401(k) Profit Sharing Plan as amended is included as exhibit 99.1 of the Form S-8
filed February 14, 2003, File No. 333-103229, which is incorporated by this reference herein.10.44
    
    Executive Salary Continuation Agreement of Robert T. Herr dated June 4, 2002, is included as
Exhibit 10.44 to the Registrants 10-Q for March 31, 2003, which is incorporated by this
reference herein.10.46
    
    1991 Stock Option Plan as amended is included as Exhibit 10.46 to the Registrants 10-Q for
September 30, 2004, which is incorporated by this reference herein.
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Exhibit
No.
    

Description10.47
    
    Specimen form of Incentive Stock Option Agreement under the 1991 Stock Option Plan is included
as Exhibit 10.47 to the Registrants 10-Q for September 30, 2004, which is incorporated by
this reference herein.10.48
    
    Specimen form of Non-Qualified Stock Option Agreement under the 1991 Stock Option Plan is
included as Exhibit 10.48 to the Registrants 10-Q for September 30, 2004, which is
incorporated by this reference herein.10.49
    
    Amended and Restated Plumas Bancorp Stock Option Plan is included as Exhibit 10.49 to the
Registrants 10-Q for September 30, 2006, which is incorporated by this reference herein.10.50
    
    Executive Salary Continuation Agreement of Rose Dembosz, is included as exhibit 10.50 to the
Registrants 10-K for December 31, 2008, which is incorporated by this reference herein.10.51
    
    First Amendment to Split Dollar Agreement of Andrew J. Ryback, is included as exhibit 10.51 to
the Registrants 10-K for December 31, 2008, which is incorporated by this reference herein.10.52
    
    Executive Salary Continuation Agreement of Douglas N. Biddle dated December 17, 2008, is
included as exhibit 10.52 to the Registrants 10-K for December 31, 2008, which is
incorporated by this reference herein.10.53
    
    Second Amendment to Executive Salary Continuation Agreement of Douglas N. Biddle dated June 2,
1994 and Amended February 16, 2000, is included as exhibit 10.53 to the Registrants 10-K for
December 31, 2008, which is incorporated by this reference herein.10.54
    
    First Amendment to Addendum A of Split Dollar Agreements of Douglas N. Biddle dated
January 24, 2002, is included as exhibit 10.54 to the Registrants 10-K for December 31, 2008,
which is incorporated by this reference herein.10.55
    
    First Amendment to Addendum B of Split Dollar Agreements of Douglas N. Biddle dated
January 24, 2002, is included as exhibit 10.55 to the Registrants 10-K for December 31, 2008,
which is incorporated by this reference herein.10.56
    
    Second Amendment to Executive Salary Continuation Agreement of Robert T. Herr dated
June 4, 2002 and Amended September 15, 2004, is included as exhibit 10.56 to the Registrants
10-K for December 31, 2008, which is incorporated by this reference herein.10.57
    
    First Amendment to Split Dollar Agreements of Robert T. Herr dated September 15, 2004, is
included as exhibit 10.57 to the Registrants 10-K for December 31, 2008, which is
incorporated by this reference herein.10.58
    
    Executive Salary Continuation Agreement of Robert T. Herr dated December 17, 2008, is included
as exhibit 10.58 to the Registrants 10-K for December 31, 2008, which is incorporated by this
reference herein.10.64
    
    First Amendment to the Plumas Bank Amended and Restated Director Retirement Agreement for
Alvin Blickenstaff adopted on September 19, 2007, is included as Exhibit 10.64 to the
Registrants 8-K filed on September 25, 2007, which is incorporated by this reference herein.10.65
    
    First Amendment to the Plumas Bank Amended and Restated Director Retirement Agreement for
Arthur C. Grohs adopted on September 19, 2007, is included as Exhibit 10.65 to the
Registrants 8-K filed on September 25, 2007, which is incorporated by this reference herein.10.67
    
    First Amendment to the Plumas Bank Amended and Restated Director Retirement Agreement for
Terrance J. Reeson adopted on September 19, 2007, is included as Exhibit 10.67 to the
Registrants 8-K filed on September 25, 2007, which is incorporated by this reference herein.
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##### Table of Contents



Exhibit
No.
    

Description10.69
    
    First Amendment to the Plumas Bank Amended and Restated Director Retirement Agreement for
Daniel E. West adopted on September 19, 2007, is included as Exhibit 10.69 to the Registrants
8-K filed on September 25, 2007, which is incorporated by this reference herein.10.70
    
    First Amendment to the Plumas Bank Amended and Restated Director Retirement Agreement for
Gerald W. Fletcher adopted on October 9, 2007, is included as Exhibit 10.70 to the
Registrants 10-Q for September 30, 2007, which is incorporated by this reference herein.11
    
    Computation of per share earnings appears in the attached 10-Q under Plumas Bancorp and
Subsidiary Notes to Condensed Consolidated Financial Statements as Footnote 5  Earnings Per
Share.31.1
    
    Rule 13a-14(a) [Section 302] Certification of Principal Financial Officer dated May 13, 2009.31.2
    
    Rule 13a-14(a) [Section 302] Certification of Principal Executive Officer dated May 13, 2009.32.1
    
    Certification of Principal Financial Officer pursuant to 18 U.S.C. Section 1350, As Adopted
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 dated May 13, 2009.32.2
    
    Certification of Principal Executive Officer pursuant to 18 U.S.C. Section 1350, As Adopted
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 dated May 13, 2009.
  36