Cornerstone Bank Merges with Plumas Bank
Deal News | Jun 30, 2025 | EIN
Plumas Bancorp has completed the acquisition of Cornerstone Community Bancorp, a transaction valued at approximately $65 million. The merger, approved in early June, will culminate with the transition being finalized by July. Both banks, known for their community-focused customer service, operate numerous branches across Northern California and western Nevada. The newly combined entity will manage around $2.3 billion in assets, $2 billion in deposits, and $1.5 billion in loans. While Cornerstone Bank's customers will maintain their current account numbers, they will receive new Plumas Bank debit cards by July 21. With this merger, Plumas aims to expand its reach and product offerings. Matthew Moseley, CEO of Cornerstone, will assume the role of Executive Vice President and Market President of Plumas Bank, ensuring a smooth integration of services and personnel.
Sectors
- Banking
- Financial Services
Geography
- United States – The merger involves two banks based in Northern California and western Nevada.
- California – Both Plumas and Cornerstone have multiple branches in Northern California, including Shasta County.
- Nevada – Plumas Bancorp is headquartered in Reno, Nevada, and operates branches there.
Industry
- Banking – The article discusses a merger between two community banks, Plumas Bancorp and Cornerstone Community Bancorp.
- Financial Services – This sector is relevant as the article involves services related to managing assets, deposits, and loans.
Financials
- $65 million – Value of the stock and cash transaction for Cornerstone Bank's acquisition.
- $2.3 billion – Combined assets of Plumas Bank and Cornerstone Community Bancorp post-merger.
- $2 billion – Combined deposits of Plumas Bank and Cornerstone post-merger.
- $1.5 billion – Combined loans of the merged entity.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Plumas Bancorp | Acquiring Company | Company | Headquartered in Reno, Nevada, Plumas Bancorp is acquiring Cornerstone Community Bancorp. |
| Cornerstone Community Bancorp | Target Company | Company | A community bank headquartered in Northern California, being acquired by Plumas Bancorp. |
| Matthew Moseley | Executive Vice President and Market President | Person | CEO of Cornerstone Bank, will become Executive Vice President and Market President of Plumas Bank. |
| Andrew Ryback | CEO | Person | CEO of Plumas Bank overseeing the merger. |