Plumas Bancorp, Cornerstone Community report shareholder approval for merger

Cornerstone Community Bancorp and Plumas Bancorp (PLBC) announced that Cornerstone’s shareholders approved the principal terms of the Agreement and Plan of Merger and Reorganization providing for the merger of Cornerstone with and into Plumas and the conversion of each outstanding share of Cornerstone common stock into the right to receive cash and stock of Plumas. The completion of the Merger is subject to the satisfaction or waiver of the conditions set forth in the merger agreement. Plumas has received the bank regulatory approvals necessary to complete the Merger. The approval of Plumas shareholders is not required to complete the Merger. Cornerstone and Plumas expect that the Merger will be completed in early July 2025.