---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-008007"
form_type: "8-K"
ticker: "PLBC"
cik: "0001168455"
company_name: "PLUMAS BANCORP"
filed_at: "2024-03-15T23:59:59+00:00"
generated_at: "2026-06-04T16:39:40.334393+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Plumas Bancorp amends non-branch property sale agreement; closing extended to Sept 16, 2024

## Summary
- Amendment extends closing date for sale of three non-branch offices to September 16, 2024.
- Plumas Bank gains termination option if accountant certifies sale no longer qualifies for gain recognition.
- If Plumas terminates, buyer Mountainseed pays certain due diligence and survey costs.
- Total cash purchase price for all three non-branch offices is $7.9 million.
- Company expects transaction to close in Q3 2024 with leaseback of each property sold.

## SEC filing metadata
- accession: 0001437749-24-008007
- form_type: 8-K
- ticker: PLBC
- cik: 0001168455
- company_name: PLUMAS BANCORP
- filed_at: 2024-03-15T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1168455/000143774924008007/0001437749-24-008007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1168455/000143774924008007/plbc20240314_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-008007
- JSON: https://secwatch.observer/filing/0001437749-24-008007.json
- Plain text: https://secwatch.observer/filing/0001437749-24-008007.txt

## Key facts
- Material Agreements
  PLUMAS BANCORP amended Sale Agreement for the Non-Branch Offices with Mountainseed Real Estate Services, LLC (effective 2024-03-14).
  - Action: amendment
  - Agreement: asset purchase
  - Counterparty: Mountainseed Real Estate Services, LLC
  - Effective: 2024-03-14
  source text: As previously reported, on January 19, 2024, Plumas Bank (the “Bank”), a wholly-owned subsidiary of Plumas Bancorp (the “Company”), entered into two agreements for the purchase and sale of real property (each, a “Sale Agreement”) with Mountainseed Real Estate Services, LLC, a Georgia limited liability company (“Mountainseed”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1168455/000143774924008007/0001437749-24-008007-index.htm
- Material Agreements
  PLUMAS BANCORP entered into Sale Agreement with Mountainseed Real Estate Services, LLC valued at $7.9 million (effective 2024-01-19).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Mountainseed Real Estate Services, LLC
  - Value: $7.9 million
  - Effective: 2024-01-19
  source text: As previously reported, on January 19, 2024, Plumas Bank (the “Bank”), a wholly-owned subsidiary of Plumas Bancorp (the “Company”), entered into two agreements for the purchase and sale of real property (each, a “Sale Agreement”) with Mountainseed Real Estate Services, LLC, a Georgia limited liability company (“Mountainseed”). One Sale Agreement provided for the sale to Mountainseed of up to nine properties owned and operated by the Bank as branches (the “Branches”) for an aggregate cash purchase price of approximately $25.7 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1168455/000143774924008007/0001437749-24-008007-index.htm
- Material Agreements
  PLUMAS BANCORP entered into Sale Agreement with Mountainseed Real Estate Services, LLC valued at $7.9 million (effective 2024-01-19).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Mountainseed Real Estate Services, LLC
  - Value: $7.9 million
  - Effective: 2024-01-19
  source text: The second Sale Agreement provides for the sale to Mountainseed of up to three properties operated as non-branch administrative offices (the “Non-Branch Offices”) for an aggregate cash purchase price of $7.9 million, assuming all of the Non-Branch Offices are sold.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1168455/000143774924008007/0001437749-24-008007-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.