Sierra Bancorp to Acquire Plumas Bancorp
Ticker: PLBC · Form: 8-K · Filed: Nov 24, 2025 · CIK: 1168455
Sentiment: neutral
Topics: acquisition, merger
TL;DR
Sierra Bancorp is buying Plumas Bancorp in a deal expected to close Q2 2026.
AI Summary
Plumas Bancorp announced on November 19, 2025, that it has entered into a definitive agreement to be acquired by Sierra Bancorp. The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions, including regulatory and shareholder approvals. The combined entity will operate under the Sierra Bancorp name and will be headquartered in Porterville, California.
Why It Matters
This acquisition will create a larger regional bank, potentially leading to expanded services and market reach for customers of both Plumas Bancorp and Sierra Bancorp.
Risk Assessment
Risk Level: medium — The acquisition is subject to regulatory and shareholder approvals, which introduces uncertainty regarding its completion.
Key Players & Entities
- Plumas Bancorp (company) — Registrant
- Sierra Bancorp (company) — Acquiring entity
- November 19, 2025 (date) — Date of earliest event reported
- second quarter of 2026 (date) — Expected closing period for the acquisition
- Porterville, California (location) — Headquarters of the combined entity
FAQ
What is the primary purpose of this Form 8-K filing?
This Form 8-K filing reports on the definitive agreement for Plumas Bancorp to be acquired by Sierra Bancorp.
Who is acquiring Plumas Bancorp?
Sierra Bancorp is acquiring Plumas Bancorp.
When is the acquisition expected to be completed?
The acquisition is expected to close in the second quarter of 2026.
What are the key conditions for the acquisition to close?
The acquisition is subject to customary closing conditions, including regulatory and shareholder approvals.
Under what name will the combined entity operate?
The combined entity will operate under the Sierra Bancorp name.
Filing Stats: 979 words · 4 min read · ~3 pages · Grade level 12.7 · Accepted 2025-11-24 09:01:50
Key Financial Figures
- $5,550,000 — for an aggregate cash purchase price of $5,550,000 pursuant to a previously announced Real
- $463,000 — rovide for annual rent of approximately $463,000 in the aggregate for both Properties, i
- $5.5 million — lted in a pre-tax gain of approximately $5.5 million. The Company is evaluating a potential
Filing Documents
- plbc20251121_8k.htm (8-K) — 35KB
- ex_891918.htm (EX-10.2) — 109KB
- ex_891919.htm (EX-10.3) — 108KB
- exb01.jpg (GRAPHIC) — 78KB
- exb02.jpg (GRAPHIC) — 52KB
- 0001437749-25-036079.txt ( ) — 612KB
- plbc-20251119.xsd (EX-101.SCH) — 3KB
- plbc-20251119_def.xml (EX-101.DEF) — 12KB
- plbc-20251119_lab.xml (EX-101.LAB) — 15KB
- plbc-20251119_pre.xml (EX-101.PRE) — 12KB
- plbc20251121_8k_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. On November 19, 2025, Plumas Bank, a wholly-owned subsidiary of Plumas Bancorp (the "Company"), completed the sale of two administrative offices in Quincy, California (the "Properties") to BBS Branch III, LLC, a Delaware limited liability company ("BBS"), for an aggregate cash purchase price of $5,550,000 pursuant to a previously announced Real Estate Purchase and Sale Agreement dated as of March 28, 2025 (the "Purchase Agreement"). Concurrent with the closing of the sale, Plumas Bank and Plumas Investor, LLC, a Delaware limited liability company and Plumas Quincy, LLL, a Delaware limited liability company entered into triple net lease agreements (the "Lease Agreements") pursuant to which the Bank will lease back the Properties sold. The Lease Agreements have an initial term of 15 years with three five-year renewal options. The Lease Agreements provide for annual rent of approximately $463,000 in the aggregate for both Properties, increasing by three percent per annum each year. The completed sale-leaseback transaction resulted in a pre-tax gain of approximately $5.5 million. The Company is evaluating a potential sale of a portion of its securities portfolio that is currently in a loss position that, if consummated, would offset some or all of the gain generated by the sale of the Properties the result of which is to more than offset the lease expense. The foregoing description of the Purchase Agreement and the Lease Agreements is a summary and is qualified in its entirety by the Purchase Agreement and Lease Agreements, which are filed as Exhibits 10.1, 10.2 and 10.3, respectively, to this report and are incorporated by reference. Caution About Forward-Looking Statements Certain statements in this Form 8-K and the exhibits filed or furnished with this Form 8-K may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include the Bank's
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No . Description of Exhibit 10.1 Real Estate Purchase and Sale Agreement by and between Plumas Bank and Brookline Real Estate Services, LLC dated as of March 28, 2025* (Incorporated by reference to Exhibit 10.1 of the Company's Form 8-K filed on April 1, 2025) 10.2 Lease Agreement by and between Plumas Bank and Plumas Quincy, LLC 10.3 Lease Agreement by and between Plumas Bank and Plumas Investor, LLC 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * 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. SIGNATURE 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. PLUMAS BANCORP Dated: November 24, 2025 By: /s/ Richard L. Belstock Name: Richard L. Belstock Title: Chief Financial Officer