Plumas Bank sells two Quincy offices for $5.55M in sale-leaseback; expects $4.9M gain

PLUMAS BANCORP

Cash purchase price of $5,550,000 for two administrative offices in Quincy, CA; 50-day due diligence period until mid-May 2025.
Concurrent 15-year triple-net lease back to Plumas Bank with three 5-year renewal options; initial annual rent ~$463k, escalating 3%/yr.
Expected pre-tax gain of ~$4.9 million upon close; company evaluating sale of securities portfolio in loss position to partially offset gain.
Buyer is Brookline Branch Services, LLC; closing targeted for Q2 2025 if due diligence is satisfied.

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