By james art 
Jason Day/Jason came
Reno, Nevada -based Plumas Bancorp on Wednesday, said it would acquire Red Bluff -based Cornerstone Community Bancorp based on $ 64.6 million.
The deal with money and stocks was charged in a press release as an offer to deepen
The combination company will have approximately $ 2.3 billion assets, $ 2 billion in deposits and $ 1.5 billion loans. It will operate 19 branches in Northern California and West Nevada.
“The combination of a team of local experts at Cornerstone Community Bank with Plumas Bank technology and small business expertise offers even more large services for the markets we serve,” said Andrew Ribet, President and CEO of Plumas.
The deal, which is expected to end in the second half of the year in anticipation of regulatory approvals, priced at Cornerstone at about 146% of its tangible book value. Plumas expects the acquisition to be almost 9% accreditive to the profit per share in 2025 and 23% of the letter of credit next year. It calculated the dilution to a tangible balance of an action of 13%. He expects to win this dilution within three years.
Cornerstone shareholders would hold about 14% of the exclusive ordinary plumas shares if the deal closed as planned. An current Cornerstone director will join the Plumas board.
Matthew Moseli, president and Cornerstone CEO, will join Plumas after the deal is over.
“Obtaining access to the Plumas Network and the extensive product lines allows us to expand our print and the offers beyond the Shasta and Tahama communities we have served over the last 19 years,” Moseli says in the publication.
It marks the second significant deal for a week, including a seller of a bank in the Community.
Cadence Bank in Tupello, Mississippi, said it would buy FCB Financial and his first Chatham bank in Savanna, Georgia in the amount of $ 590 million in his edition last week. The $ 50 billion Kadanas said it would pay $ 103.6 million in cash and shares.
First Chatham has $ 329 million loans and $ 510 million deposits. The deal is expected to end in the third quarter.
“Operating within a varied and dynamic regional economy, fueled by stable production, port operations and logistics, tourism, healthcare and real estate development, as well as active military presence, this partnership enhances our ability to support individuals, families and business that They lead to managing our communities ahead, “Dan Rollins, chairman and CEENCE CEO, said in the statement.
Ken Farrell, the first president and Central Director of Chatham, will become President of Kadens of Southeast Georgia.
At least five banks have announced plans to be sold so far in 2025. Advisers and transactions analysts are increasingly noting that banking M & A activity is picking up a speed last year against the background of decreasing interest rates. Many observers are expecting even more activity this year after the presidential election and deregulation of the Trump administration. Lower levels of regulatory control can shorten the closure processes and attract more buyers.
“We are entering the new year with confirmed election results and lower interest rates, which can activate M&A markets as companies define their strategic direction and seek to grow,” said KPMG Nadia Orawski analyst.
Generally,