---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-130477"
form_type: "8-K"
ticker: "UFCS"
cik: "0000101199"
company_name: "UNITED FIRE GROUP INC"
filed_at: "2023-12-29T23:59:59+00:00"
generated_at: "2026-06-07T05:42:03.808640+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# United Fire terminates $50M credit line, joins FHLB Des Moines for up to 20% asset borrowing

## Summary
- Terminated $50M revolving credit facility with Wells Fargo on Dec 29; no borrowings or penalties incurred.
- UF&C admitted to FHLB Des Moines membership on Dec 22 after purchasing $1,248,500 in membership stock and depositing equal amount.
- FHLB membership provides access to collateralized advances and liquidity management tools.
- Aggregate borrowing capacity from FHLB is up to 20% of UF&C's total assets per Advances Agreement.
- Advances Agreement requires pledge of FHLB stock and other agreed collateral for any advances.

## SEC filing metadata
- accession: 0001104659-23-130477
- form_type: 8-K
- ticker: UFCS
- cik: 0000101199
- company_name: UNITED FIRE GROUP INC
- filed_at: 2023-12-29T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 1.02, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/101199/000110465923130477/0001104659-23-130477-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/101199/000110465923130477/tm2333969d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-130477
- JSON: https://secwatch.observer/filing/0001104659-23-130477.json
- Plain text: https://secwatch.observer/filing/0001104659-23-130477.txt

## Key facts
- Debt Financings
  UNITED FIRE GROUP INC incurred credit facility with Federal Home Loan Bank of Des Moines.
  - Instrument: credit facility
  - Counterparty: Federal Home Loan Bank of Des Moines
  - Event: incurrence
  source text: ubsidiary of the Company, completed its admission to the membership of the Federal Home Loan Bank of Des Moines (“FHLB”) upon its acquisition of FHLB membership stock in exchange for $1,248,500.
  evidence_url: https://www.sec.gov/Archives/edgar/data/101199/000110465923130477/0001104659-23-130477-index.htm
- Material Agreements
  UNITED FIRE GROUP INC terminated Credit Agreement with Wells Fargo Bank, National Association valued at $50 million (effective 2023-12-29).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association
  - Value: $50 million
  - Effective: 2023-12-29
  source text: On December 29, 2023, United Fire & Casualty Company (“UF&C”), a wholly owned subsidiary of United Fire Group, Inc. (the “Company”), terminated its existing credit agreement (the “Credit Agreement”), dated as of March 31, 2020, with Wells Fargo Bank, National Association, as administrative agent, issuing lender, swing-line lender and lender, and the other lenders from time to time party thereto, which provided for a $50 million revolving credit facility.
  evidence_url: https://www.sec.gov/Archives/edgar/data/101199/000110465923130477/0001104659-23-130477-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.