Plumas Bancorp (PLBC) announced the completion of its acquisition of Cornerstone Community Bancorp.
Cornerstone Community Bank has merged with and into Plumas’s subsidiary, Plumas Bank.
The transaction was initially announced on January 28, 2025.
Under the merger agreement, each outstanding share of Cornerstone common stock was converted into 0.6608 shares of Plumas common stock plus $9.75 in cash.
The total value of the deal consideration was approximately $61.3 million for Plumas Bancorp (PLBC).
Andrew J. Ryback, President and CEO, expressed his pleasure in welcoming the clients, employees, and shareholders of Cornerstone.
