secwatch.observer — SEC 8-K summary
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Issuer:     PLUMAS BANCORP (PLBC)
CIK:        0001168455
Form:       8-K
Filed at:   2024-01-23T23:59:59+00:00
Accession:  0001437749-24-001914
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Plumas Bancorp enters $33.6M sale-leaseback for up to 12 properties; expects ~$27M pre-tax gain
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- Agreements with Mountainseed Real Estate Services for up to 12 properties (11 CA, 1 NV) for aggregate $33.6M cash.
- Simultaneous 15-year triple-net leaseback with one 15-year renewal; annual rent ~$3.1M, increasing 2% yearly.
- Expects pre-tax gain of ~$27M if all properties sold; closing targeted Q1 2024, subject to due diligence.
- Bank may sell securities portfolio in loss position to offset some or all of the gain from the sale.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1168455/000143774924001914/0001437749-24-001914-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1168455/000143774924001914/plbc20240119_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-001914

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