Business Context and Reporting Period
This Form 8-K filing by Plumas Bancorp reports corporate governance changes effective July 18, 2012. The registrant is a California-based financial institution headquartered in Quincy, California.
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 appointments and does not contain financial performance data.
Material Changes
The primary material change reported is the promotion of two senior officers:
- Richard L. Belstock was promoted from Senior Vice President and Chief Financial Officer to Executive Vice President and Chief Financial Officer of the Company and Plumas Bank.
- Kerry D. Wilson was promoted from Senior Vice President and Credit Administrator to Executive Vice President and Chief Credit Officer of the Bank.
Management Commentary and Risks
The filing provides biographical details regarding the promoted officers but contains no forward-looking guidance, management commentary on financial outlook, or discussion of specific risks and contingencies.
- Mr. Belstock has over 30 years of experience in financial accounting and regulatory reporting, including 10 years as Controller and Chief Accounting Officer for Sierra West Bancorp. He is a licensed CPA since 1980.
- Mr. Wilson has 30 years of banking experience, half of which was served at Plumas Bank since joining in 1997. He holds a degree in Agricultural Business and completed advanced programs at the Western Agricultural Credit School and the Pacific Coast Banking School.
Investor Verification Checklist
- Verify the effective date of the new titles for Mr. Belstock and Mr. Wilson (July 18, 2012).
- Confirm the absence of financial data in this specific filing and refer to the most recent 10-Q or 10-K for performance metrics.
- Review the attached press release (Exhibit 99.1) for any additional context on the leadership transition.