FIRST FINANCIAL BANKSHARES INC (FFIN): debt financing — First Financial Bankshares renews $50M credit line with Frost Bank, dividend covenant at 55%

FIRST FINANCIAL BANKSHARES INC

Increased revolving credit line to $50M from $25M; matures June 30, 2027.
No borrowings in 2023-2025; credit line remains undrawn.
Interest at WSJ prime rate; converts to 5-year term loan if balance remains at maturity.
Dividend payments restricted to ≤55% of consolidated net income; historical payout range 36%-53%.

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

FIRST FINANCIAL BANKSHARES INC amended revolving credit of up to $50.0 million with Frost Bank at U.S. prime rate as quoted in the Money Rates section of The Wall Street Journal maturing June 30, 2027.

Instrument: revolving credit
Principal: up to $50.0 million
Counterparty: Frost Bank
Rate: U.S. prime rate as quoted in the Money Rates section of The Wall Street Journal
Maturity: June 30, 2027
Event: amendment

Exact text from the filing

30, 2023 (as amended, the “Loan Agreement”) and Renewal Promissory Note (the "Note"). Under the Note as governed by the Loan Agreement, the Company is permitted to draw up to $50.0 million on a revolving line of credit. Prior to June 30, 2027, interest is paid quarterly at the U.S. prime rate as quoted in the Money Rates section of The Wall Street Journal , and the

View on SEC.gov

Browse all debt financings →

FIRST FINANCIAL BANKSHARES INC filing history →

Source: SEC EDGAR

accession 0000950170-25-094263

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.