Atlanta, GA and Gainesville, TX – June 30th, 2025 – MountainSeed Real Estate Services, LLC (“MountainSeed”), a Georgia limited liability company, has successfully completed a sale‑leaseback transaction with First State Bank (“the Bank”).
Effective June 30th, 2025, First State Bank sold seven of its owned locations for a total purchase price of approximately $32 million, subject to customary closing adjustments. These properties are situated across North and Central Texas markets integral to the Bank’s operations and will continue to support daily banking services.
As part of the transaction, First State Bank has simultaneously entered into a long‑term lease agreement to retain full operational control of the facilities. The lease includes an initial 15‑year term with renewal options, enabling the Bank to preserve continuity in each community it serves.
This transaction reflects First State Bank’s proactive financial strategy, effectively enabling them to restructure their balance sheet and position the securities portfolio for enhanced future earnings. By unlocking capital tied up in real estate, the Bank gained liquidity and flexibility to strengthen its balance sheet while maintaining full-service access across its branch footprint.
“The SLB transaction enabled First State Bank to unlock substantial equity from our long-term real estate holdings. As part of the deal, we sold half of our branch properties, and the Mountainseed team was instrumental in keeping the process on schedule. Their communication throughout was outstanding, and we couldn’t be more satisfied with the results. We began restructuring our balance sheet immediately after closing,” noted Brian McCain, CFO, First State Bank.
About MountainSeed:
MountainSeed acts as a beacon of trust and innovation in the real estate and banking industries, partnering with over 600 community banks and credit unions across all 50 states. As the most active company in conducting sale‑leaseback transactions with community financial institutions, MountainSeed also supports over $5 billion in commercial real estate transactions monthly through its tech‑enabled platform, providing expertise and access to a wide array of valuation, capital markets, and real estate services.
About First State Bank:
Chartered in 1905, First State Bank is the oldest state‑chartered bank in Texas, founded in Gainesville and still maintaining two Gainesville locations as part of its 14‑branch network throughout Central and North Texas—including Collin, Cooke, Denton, Grayson, McLennan, Montague, and Wise counties. The Bank combines hometown banking and personalized service with modern innovation, continuing a legacy of community commitment over more than a century.
For further information, please contact:
MountainSeed Sales
Email: [email protected]
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