secwatch.observer — SEC 8-K summary
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Issuer:     PLUMAS BANCORP (PLBC)
CIK:        0001168455
Form:       8-K
Filed at:   2025-01-29T23:59:59+00:00
Accession:  0001437749-25-002080
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Plumas Bancorp to acquire Cornerstone Community Bancorp for ~$64.6M in stock and cash
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- Each Cornerstone share to receive 0.6608 Plumas shares + $9.75 cash; valued at $41.31/share based on Jan 28 close.
- Deal valued at ~$64.6M; expected ~9% EPS accretive in 2025 and ~23% in 2026.
- Combined pro forma: $2.3B assets, $2.0B deposits, $1.5B loans, 19 branches across N. California/W. Nevada.
- Cornerstone shareholders to own ~14% of combined company; tangible book dilution ~13% with <3 year earn-back.
- One Cornerstone director to join Plumas board; closing expected H2 2025, subject to regulatory and shareholder approvals.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1168455/000143774925002080/0001437749-25-002080-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1168455/000143774925002080/plbc20250128_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-002080

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer