BANCPLUS CORP: debt financing — BancPlus enters $30M term loan to redeem $60M subordinated notes

BANCPLUS CORP

Borrowed $30M term loan from First Horizon Bank at prime minus 0.55% (floor 4.00%), maturing June 15, 2030.
Loan collateralized by all outstanding shares of BankPlus common stock under Pledge Agreement.
Proceeds plus cash used to redeem $60M of 6.000% Fixed-to-Floating Subordinated Notes on June 16, 2025.
Quarterly principal payments of $750k starting September 15, 2025; prepayment permitted without penalty.
Financial covenants include Tier 1 Leverage Ratio ≥8.00%, ROAA ≥0.75%, loan-to-value ≤40%.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BANCPLUS CORP incurred term loan of $30.0 million with First Horizon Bank at prime rate of interest as reported in The Wall Street Journal published daily mi maturing June 15, 2030.

Instrument: term loan
Principal: $30.0 million
Counterparty: First Horizon Bank
Rate: prime rate of interest as reported in The Wall Street Journal published daily mi
Maturity: June 15, 2030
Event: incurrence

Exact text from the filing

On June 13, 2025, BancPlus Corporation (the "Company"), as borrower, entered into a Loan Agreement (the "Agreement") with First Horizon Bank ("First Horizon"). Under the terms of the Agreement, First Horizon agreed to provide the Company with a $30.0 million term loan (the "Term Loan"), which was drawn down in full.

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Source: SEC EDGAR

accession 0000950170-25-087106

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