Business Context and Reporting Period
This Form 8-K Current Report was filed by Plumas Bancorp on February 6, 2024. The filing reports a corporate governance event regarding the appointment of a new director to the Company and its wholly-owned subsidiary, Plumas Bank.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
- Board Appointment: On February 6, 2024, the Board of Directors appointed Sushil Patel as a director of Plumas Bancorp and Plumas Bank.
- Committee Assignments: Mr. Patel has not yet been appointed to any specific Board committees.
- Compensation: Mr. Patel will receive standard compensation for non-employee directors, as previously disclosed in the Definitive Proxy Statement filed on April 4, 2023.
Guidance, Outlook, and Risks
The filing contains no management commentary regarding financial guidance, future outlook, risks, contingencies, or unusual items. The document serves solely to disclose the director appointment and incorporates by reference a press release dated February 8, 2024.
Investor Verification Checklist
- Verify the background and qualifications of the newly appointed director, Sushil Patel.
- Review the Definitive Proxy Statement filed on April 4, 2023, to confirm the specific compensation structure for non-employee directors.
- Monitor future filings for Mr. Patel's assignment to specific Board committees.