FFIN renews $25M revolving credit line with Frost Bank through June 2023

FIRST FINANCIAL BANKSHARES INC

Revolving line of $25M; interest at Wall Street Journal Prime, paid quarterly.
Line matures June 30, 2023; outstanding balance then converts to 5-year term loan.
Dividend payments restricted to 55% of consolidated net income under covenants.
No borrowings outstanding in 2020 or 2021 as of date of renewal.
Loan is unsecured; also includes capital, tangible net worth and cash flow covenants.

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