SOURCE: Plumas Bank

September 13, 2007 14:30 ET

Plumas Bank Awarded SBA "Preferred Lender" Status

QUINCY, CA--(Marketwire - September 13, 2007) - Douglas Biddle, president and chief executive officer of Plumas Bank, a subsidiary of Plumas Bancorp (NASDAQ: PLBC), today announced that the bank has achieved nationwide Preferred Lender Program ("PLP") status with the U.S. Small Business Administration (SBA). To earn the "Preferred Lender" designation, lenders must establish a successful track record and display a thorough understanding of SBA lending policies and procedures. With this approval, Plumas Bank has nationwide authority to make credit decisions and can approve certain loan requests on behalf of the SBA, which results in a quicker turnaround time for loan approvals and funding.

Bob Herr, executive vice president and loan administrator, remarked, "Preferred Lender status is the SBA's premier accreditation. Only the most expert lenders qualify for SBA's streamlined lending programs. They are chosen from among the agency's top lenders and enjoy full delegation of lending authority." He continued, "In addition, the nationwide PLP status enhances our potential opportunities to enter new markets and continue to expand and promote our unique style of relationship banking."

"We are delighted to be designated a SBA Preferred Lender," said Rodney Borges, vice president and manager of Plumas Bank's SBA Lending Group. "This status allows us to approve SBA loans right in our office. Through our partnership with SBA, we are able to help many more small businesses obtain financing, which in turn helps the economy and Plumas Bank."

Established in 1980, Plumas Bank is headquartered in Northeastern California and is a locally owned and managed full-service community bank. With assets of $465 million, the Bank operates thirteen offices throughout Plumas, Lassen, Sierra, Placer, Nevada, Modoc and Shasta counties in California and a commercial real estate lending office in Reno, Nevada. The Bank offers a full range of personal and commercial banking services including commercial, installment, agriculture and mortgage loans, checking, savings and depository accounts, as well as other investment and insurance services to individuals, businesses, institutions and governmental agencies. The Bank's website is at www.plumasbank.com.

Contact Information

  • Contact:
    Elizabeth Kuipers
    Vice President, Marketing Manager & Investor Relations Officer
    Plumas Bank
    35 S. Lindan Ave.
    Quincy, CA 95971
    Ph: 530.283.7305 x8912
    Fx: 530.283.9665
    Email Contact