QUINCY, Calif., June 16, 2020 (GLOBE NEWSWIRE) -- Plumas Bancorp (Nasdaq: PLBC), the parent company of Plumas Bank, is pleased to announce that the Company expects to be included in the Russell 2000 Index when FTSE Russell (Russell) reconstitutes, or recompiles, its U.S. and global equity indexes on June 26, 2020. Russell's preliminary announcement of its annual reconstitution of the Russell Indexes, which includes Plumas Bancorp, was posted on the Russell website on Friday, June 5, 2020, after the U.S. stock market closed.
Director, President, and Chief Executive Officer, Andrew J. Ryback, explained, "The Russell 2000 index is a stock market index comprised of 2000 small-capitalization companies and is an important barometer of the American economy because it measures the performance of smaller, domestically focused businesses. It is a good measure of how smaller companies in the U.S. are faring. With significant growth in the Company's market capitalization over the last few years, Plumas Bancorp has now earned its placement on the Russell Indexes." Ryback continued, "Inclusion in the Russell 2000 Index is an important and exciting milestone for our Company. This recognition will increase the overall awareness and exposure of our stock within the investment community. This increased exposure comes at an opportune time for Plumas Bancorp as we continue to grow our franchise and invest in our communities."
Russell determines inclusion of companies in its equity indexes by market-capitalization rankings and style attributes. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.
About FTSE Russell: FTSE Russell is a leading global index provider creating and managing a wide range of indexes, data and analytic solutions to meet client needs across asset classes, style and strategies. Covering 98% of the investable market, FTSE Russell indexes offer a true picture of global markets, combined with the specialist knowledge gained from developing local benchmarks around the world.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $16 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create investment funds, ETFs, structured products and index-based derivatives. FTSE Russell indexes also provide clients with tools for asset allocation, investment strategy analysis and risk management
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on index innovation and customer partnership applying the highest industry standards and embracing the IOSCO Principles. FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com
About Plumas Bank Founded in 1980, Plumas Bank is a locally owned and managed full-service community bank headquartered in northeastern California. The Bank operates thirteen branches: eleven located in the northern California counties of Plumas, Lassen, Placer, Nevada, Modoc and Shasta and two branches located in the northern Nevada counties of Washoe and Carson City. The Bank also operates three loan production offices: two located in the northern California Counties of Placer and Butte, and one located in the southern Oregon County of Klamath. Plumas Bank offers a wide range of financial and investment services to consumers and businesses and has received nationwide Preferred Lender status with the United States Small Business Administration. For more information on Plumas Bancorp and Plumas Bank, please visit our website at www.plumasbank.com .
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended and Plumas Bancorp intends for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.
Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, either expressed or implied, in this news release. Factors that might cause such differences include, but are not limited to: the Company's ability to successfully execute its business plans and achieve its objectives; changes in general economic and financial market conditions, either nationally or locally in areas in which the Company conducts its operations; changes in interest rates; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Company's operations or business; loss of key personnel; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies.
In addition, discussions about risks and uncertainties are set forth from time to time in the Company's publicly available Securities and Exchange Commission filings. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.
# # #
Contact: Elizabeth KuipersPlumas BankVice President, Marketing Manager & Investor Relations Officer35 S Lindan AvenueQuincy, CA 95971530.283.7305 firstname.lastname@example.org