Plumas Bancorp, MountainSeed announces sale-leasebak transaction

Plumas Bancorp and MountainSeed announce a sale-leaseback deal valued at approximately $25.7 million. This transaction, which was completed on February 14, 2024, further exemplifies MountainSeed’s continued focus on sale-leaseback transactions and the advantages that this strategy affords community banks and credit unions. MountainSeed Real Estate Services acquired nine properties operated as branches from Plumas Bank and leased each property back to the bank for a 15-year lease term. Plumas Bank will continue to operate the branch offices as usual. MountainSeed and Plumas Bank have agreed to complete a second sale-and-leaseback transaction for three additional Plumas Bank properties. The sale is expected to be completed in March 2024.