secwatch.observer — SEC 8-K summary
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Issuer:     FIRST FINANCIAL BANKSHARES INC (FFIN)
CIK:        0000036029
Form:       8-K
Filed at:   2023-07-07T23:59:59+00:00
Accession:  0000950170-23-032282
Event type: debt
Sentiment:  neutral
Materiality: 0.30
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Financial Bankshares renews $25M revolving credit facility with Frost Bank
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- Renewed $25M unsecured revolving line of credit from Frost Bank, maturing June 30, 2025.
- Interest at U.S. prime rate (Wall Street Journal); quarterly interest-only until June 30, 2025.
- If balance remains after June 30, 2025, converts to 5-year amortizing term loan maturing June 30, 2030.
- Covenants include dividend cap at 55% of net income, plus capital and profitability ratios.
- No borrowings under the facility in 2022 or 2023; facility unused.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36029/000095017023032282/0000950170-23-032282-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36029/000095017023032282/ffin-20230630.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-032282

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