Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Third Coast Bancshares, Inc. amended credit facility of $55,000,000 with American National Bank & Trust at U.S. "Prime Rate" reported by The Wall Street Journal, less six hundred twenty-f maturing March 10, 2026.
- Instrument
- credit facility
- Principal
- $55,000,000
- Counterparty
- American National Bank & Trust
- Rate
- U.S. "Prime Rate" reported by The Wall Street Journal, less six hundred twenty-f
- Maturity
- March 10, 2026
- Event
- amendment
Exact text from the filing
The Amendment, among other things, (i) extends the maturity date of the loan under the Loan Agreement from September 10, 2024 to March 10, 2026; (ii) increases the maximum commitment under the Loan Agreement from $50,000,000 to $55,000,000; (iii) amends the interest rate provision to provide that the interest rate per annum under the Loan Agreement shall be equal to the U.S. “Prime Rate” reported by The Wall Street Journal, less six hundred twenty-five thousandths percent (0.625%), subject a floor rate of five percent (5.00%); and (iv) modifies certain covenants under the Loan Agreement.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Third Coast Bancshares, Inc. amended Renewal, Extension and Modification of Loan with American National Bank & Trust valued at increases the maximum commitment under the Loan Agreement from $50,000,000 to $55,000,000 (effective 2024-03-12).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- American National Bank & Trust
- Value
- increases the maximum commitment under the Loan Agreement from $50,000,000 to $55,000,000
- Effective
- 2024-03-12
Exact text from the filing
Effective March 12, 2024 (the “Effective Date”), Third Coast Bancshares, Inc. (the “Company”) entered into a Renewal, Extension and Modification of Loan (the “Amendment”) of the Loan Agreement, dated March 10, 2021, by and between the Company and American National Bank & Trust (the “Loan Agreement”).
View on SEC.gov