Plumas Bancorp Dismisses Auditor Eide Bailly LLP and Appoints Elliot Davis, LLC

Plumas Bancorp (NASDAQ: PLBC) made significant changes to its auditing practices, according to a recent Form 8-K submitted to the Securities and Exchange Commission. The company, which operates Plumas Bank, a subsidiary of Plumas Bancorp, announced the dismissal of Eide Bailly LLP (“Eide”) as the independent auditor of the Plumas Bank 401(k) Profit Sharing Plan.

The decision to dismiss Eide was endorsed by the Audit & Risk Committee of the Board of Directors of Plumas Bancorp. The filing noted that there were no disagreements between Plumas Bank and Eide on various accounting matters during the fiscal years ended December 31, 2023, and 2022. Additionally, no “reportable events” occurred during this period, as defined in Item 304(a)(1)(v) of Regulation S-K.

Furthermore, the Plan requested Eide to provide a letter to the Securities and Exchange Commission confirming their agreement with the statements made. A letter from Eide dated November 19, 2024, was attached to the Form 8-K as Exhibit 16.1.

Concurrently, the Plumas Bank 401(k) Profit Sharing Plan appointed Elliot Davis, LLC (“Elliott”) as its new independent registered public accounting firm for the fiscal year ended December 31, 2024. The appointment of Elliot Davis, LLC was approved by the Audit & Risk Committee of the Board of Directors of Plumas Bancorp. The filing mentioned that neither the Plan nor the Company had consulted with Elliott regarding accounting principles or audit opinions in the prior fiscal years, up to the engagement of Elliott.

The Form 8-K also included Exhibit 104, the Cover Page Interactive Data File (embedded within the Inline XBRL document), along with Exhibit 16.1, the letter from Eide to the Securities and Exchange Commission dated November 19, 2024.

Richard L. Belstock, Executive Vice President, Chief Financial Officer of Plumas Bancorp, signed the Form 8-K on behalf of the registrant on November 20, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Plumas Bancorp’s 8K filing here.

Plumas Bancorp Company Profile

Plumas Bancorp operates as the bank holding company for the Plumas Bank that provides various banking products and services for small and middle market businesses, and individuals in Northeastern California and Northwestern Nevada. The company accepts various deposits, such as checking, money market checking, business sweep, public funds sweep, savings, time deposit, and retirement accounts.