Plumas Bancorp ( (PLBC) ) has issued an announcement.
On March 28, 2025, Plumas Bank entered into a Real Estate Purchase and Sale Agreement to sell two administrative offices in Quincy, California, to Brookline Branch Services, LLC, for $5,550,000. The transaction, expected to close in the second quarter of 2025, includes a leaseback arrangement allowing Plumas Bank to continue using the properties. This sale and leaseback deal is anticipated to generate a pre-tax gain of approximately $4.9 million, with first-year rent expenses partially offset by reduced depreciation and investment of proceeds. The company is also considering selling part of its securities portfolio to offset the gain from the property sale.
More about Plumas Bancorp
Plumas Bancorp operates in the financial industry, primarily through its wholly-owned subsidiary, Plumas Bank. The company focuses on providing banking services and is involved in real estate transactions as part of its operational strategy.
YTD Price Performance: -7.84%
Average Trading Volume: 10,474
Technical Sentiment Signal: Sell
Current Market Cap: $253.5M
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