Plumas Bancorp announced the successful completion of its acquisition of Cornerstone Community Bancorp, effective July 1, 2025. Cornerstone Community Bank has merged into Plumas Bank, expanding Plumas's presence in California's northern Sacramento Valley.
Under the merger agreement, each outstanding share of Cornerstone common stock was converted into a combination of 0.6608 shares of Plumas common stock and $9.75 in cash. The total deal consideration was approximately $61.3 million, based on Plumas's closing stock price of $44.46 on June 30, 2025.
The acquisition adds four branches in Anderson, Red Bluff, and Redding, California, to Plumas Bank's network. On a pro forma combined basis as of March 31, 2025, Plumas Bancorp now has approximately $2.3 billion in total assets, $1.5 billion in total loans, and $1.9 billion in total deposits.
In conjunction with the merger, Ken Robison, a former director of Cornerstone, has been appointed to the boards of Plumas Bancorp and Plumas Bank. Matthew B. Moseley, Cornerstone's former President and CEO, has joined Plumas Bank's executive team as Market President, bringing extensive leadership and market knowledge to the expanded organization.
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