A Look Ahead to 2023

By Andy Ryback - Plumas Bank President and CEO December 7, 2022 Community banking

Andy Ryback - Plumas Bank President and CEO

The last two decades at Plumas Bank have served up some of the most rewarding and challenging experiences of my life. It continues to be an absolute honor to lead this bank, working alongside incredible people, becoming a key part of the close-knit communities we serve, and supporting the small businesses and clients that make Plumas Bank what it is today.

And now, we’re on the eve of yet another year — 2023. This one looks to be leading with some choppy financial waters, but our communities have weathered these storms before, and we will do so again. 

Sometimes, it’s important to step back and look at the trials we’ve faced to remind ourselves of our resolve. Just consider that in the past 15 years, we’ve seen the Great Recession — which sent the entire U.S. financial system into free fall — and the COVID-19 pandemic, which challenged us in ways we never imagined. Plumas Bank proved our resilience by innovating, adopting new technologies and bolstering our commitment to high-touch customer service, especially as we counseled local businesses on accessing federal Paycheck Protection Program (PPP) assistance and helped them identify key resources to stay afloat during those trying times.

Then we experienced the Dixie Fire — a devastating natural disaster for our communities. We saw homes, businesses and towns destroyed. For Plumas Bank, we dedicated ourselves to ensuring those families, business owners and residents knew that they had a bank they could rely on. It’s a long process, and the work continues — but we’re here standing by our clients, helping businesses and communities rebuild.

Through these decades of upheaval, we’ve grown, innovated and strengthened our relationships with clients and all the areas we serve. We’ve met every challenge with fierce dedication, warm personal attention, and a thoughtful long-term growth strategy. We’ve become stronger through all of it, and that is a testament to the Plumas Bank family and the communities we call home.

These are the times when a community bank truly proves its worth. This is our chance to stand up for our communities and lift up our clients, some of whom are in desperate need.

We recognize that 2023 will offer more financial uncertainty. Massive amounts of stimulus were injected into the economy by federal and state governments to keep businesses afloat and Americans employed during the pandemic. While doing so prevented a prolonged deep recession following pandemic shutdowns, this also created a long tail of money that continues to stimulate the economy. The effects of this stimulus, combined with supply chain disruptions and spikes in energy and commodity prices, have resulted in a volatile economic climate. 

Business leaders should take a long view on the economy and plan accordingly. And we’re here to remind you of the importance of turning to your community bank. We have resources to help you plan for the future, as our goal is always to see you succeed in your business endeavors. Community banks are different from much larger institutions where decision-making happens thousands of miles away. Instead, we’re right here beside you, making sure your business stays healthy and our strong relationships endure. 

Yes, many businesses in our region — perhaps especially those in agriculture — are navigating the challenges presented by variable rates, higher business expenses and lower yields. But at Plumas Bank, we will continue working closely with you, our borrowers, to help you understand the impact of rising costs and adjust your business strategies accordingly. 

This is what makes our relationship banking model so different, as we’re encouraging you to sit down and have a conversation with us — your banking partner. Every business is different and comes with its unique set of challenges, and every situation deserves its own thorough examination to determine optimal strategies for financial growth. 

I’m proud to say that Plumas Bank is strong. We’re strong for our communities, for our clients and for our partners. And come financial, health or natural disaster challenges, we are committed to helping you, our valuable clients, achieve your goals. 

Happy New Year, and thank you for the gift of your relationship with us over the years. Remember that we are here to help you navigate your financial journey, and we look forward to helping you strategize and succeed for years to come.