Plumas Bancorp filed SEC Form 8-K: Termination of a Material Definitive Agreement, Financial Statements and Exhibits

false 0001168455 0001168455 2024-08-14 2024-08-14

 

Washington, D.C. 20549

 

 

 

 

 

(Date of earliest event reported)

 

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Securities registered pursuant to Section 12(b) of the Act:

 

 

 

 

On August 14, 2024, Plumas Bank (the “Bank”), a wholly-owned subsidiary of Plumas Bancorp (the “Company”), and Mountainseed Real Estate Services, LLC, a Georgia limited liability company (“Mountainseed”), mutually agreed to terminate an Agreement for Purchase and Sale of Real Property dated as of January 19, 2024 (the “Purchase Agreement”).

 

The Purchase Agreement provided that Mountainseed would purchase from the Bank three properties operated by the Bank as administrative offices for an aggregate purchase price of approximately $7.9 million, subject to Mountainseed performing satisfactory due diligence and other customary closing conditions. The Purchase Agreement further provided that upon the completion of the sale transaction, Mountainseed would lease the properties back to the Bank.

 

The termination of the Purchase Agreement does not affect the Bank’s sale and leaseback transaction with Mountainseed with respect to nine branch office properties, which, as previously reported, was completed on February 14, 2024.

 

(d) Exhibits.

 

 

* Certain schedules and exhibits to this exhibit have been omitted pursuant to Item 601(a)(5). The registrant hereby agrees to furnish a copy of any omitted schedule or similar attachment to the SEC upon request.  

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.