Plumas Bancorp successfully finalizes acquisition of Cornerstone Community Bancorp for an estimated $61.3 million.
Plumas Bancorp, a leading financial institution in Northern California, has completed its acquisition of Cornerstone Community Bancorp on July 1, 2025. This strategic move significantly expands Plumas Bancorp's assets, loans, deposits, and regional operations.
Prior to the acquisition, Cornerstone Community Bancorp reported approximately $648 million in assets, $492 million in loans, and $572 million in deposits as of March 31, 2025. The merger has expanded Plumas Bancorp’s total assets to about $2.3 billion, incorporating Cornerstone’s financials and adding to Plumas’s existing portfolio. This sizable increase strengthens Plumas’s balance sheet and enhances its lending and deposit capabilities.
The acquisition also broadens Plumas Bancorp’s footprint by adding four new Northern California markets, including Anderson, Red Bluff, and Redding. Cornerstone’s local expertise and strong community ties will be integrated with Plumas's advanced technology and small business solutions, aiming to improve the quality and range of banking services available to customers in Northern California.
Leadership and governance experience from Cornerstone are also being integrated. Ken Robison, a seasoned real estate professional and former Red Bluff mayor, brings extensive regional experience to the role and has joined the boards of Plumas Bancorp and Plumas Bank. Cornerstone’s President and CEO Matthew B. Moseley has taken on a senior leadership role at Plumas, driving expanded regional operations. He has been appointed as Executive Vice President and Market President at Plumas Bank.
The total transaction value was approximately $61.3 million. Cornerstone shareholders received 0.6608 shares of Plumas common stock and $9.75 in cash for each Cornerstone share. As of the acquisition date, PLBC trades at $47.64, or 1.53% higher on the NasdaqCM.
The integration aims to expand service offerings and drive long-term value for shareholders and communities. On a pro forma basis, the combined bank will have $1.9 billion in deposits. Matthew B. Moseley, the former Cornerstone President and CEO, stated that the merger is a moment of growth and he looks forward to fostering innovation and opportunity within the combined organization.
Plumas CEO Andrew J. Ryback considers the merger a significant milestone. He has welcomed both Ken Robison and Matthew B. Moseley, citing their community ties and professional strengths as vital to the bank's future growth. With this acquisition, Plumas adds four new branches in the aforementioned cities, further expanding its reach in Northern California.
Ken Robison, the former Cornerstone Director and Red Bluff mayor, stated that the values of both institutions align and he is eager to support Plumas's mission of delivering innovative financial services across Northern California. The integration aims to enhance the quality of service, expand service offerings, and drive long-term value for shareholders and communities.
The acquisition of Cornerstone Community Bancorp by Plumas Bancorp, as of July 1, 2025, has integrated business and finance operations, expanding Plumas Bancorp's total assets to about $2.3 billion and significantly increasing its lending and deposit capabilities. Furthermore, the merger has broadened Plumas Bancorp's presence in Northern California by adding four new markets and leveraging Cornerstone's local expertise and community ties.
