Business Context and Reporting Period
Company: Plumas Bancorp (PLBC)
Filing Type: Form 8-K (Current Report)
Date of Report: November 19, 2024
Reporting Period: Event-specific report regarding the dismissal and appointment of auditors for the Plumas Bank 401(k) Profit Sharing Plan.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document is strictly procedural regarding the change in the independent auditor for the Company's employee benefit plan.
Material Changes
- Dismissal of Auditor: On November 19, 2024, Plumas Bank dismissed Eide Bailly LLP as the independent auditor for the Plumas Bank 401(k) Profit Sharing Plan.
- Appointment of New Auditor: On November 19, 2024, the Plan appointed Elliot Davis, LLC as the independent registered public accounting firm for the fiscal year ending December 31, 2024.
- Approval: Both actions were approved by the Audit & Risk Committee of the Board of Directors.
Management Commentary, Risks, and Contingencies
Disagreements and Reportable Events: The Company states there were no disagreements with Eide Bailly LLP regarding accounting principles, financial statement disclosure, or auditing scope/procedures during the years ended December 31, 2023 and 2022, or through November 19, 2024. Additionally, there were no "reportable events" as defined in Item 304(a)(1)(v) of Regulation S-K.
Consultations with New Auditor: During the fiscal years ended December 31, 2023 and 2022, and the interim period prior to the engagement of Elliot Davis, LLC, neither the Plan nor the Company consulted with the new firm regarding accounting principles, specified transactions, or audit opinions.
Exhibits: A letter from Eide Bailly LLP to the SEC confirming agreement with the Company's statements is attached as Exhibit 16.1.
Investor Verification Checklist
- Verify the effective date of the auditor change for the 401(k) Plan (November 19, 2024).
- Confirm the identity of the new auditor (Elliot Davis, LLC) for the 2024 fiscal year.
- Review Exhibit 16.1 to ensure the outgoing auditor (Eide Bailly LLP) concurred with the Company's statements regarding the absence of disagreements.
- Note that this filing pertains only to the 401(k) Plan auditor, not the Company's primary consolidated financial statement auditor.