secwatch.observer — SEC 8-K summary
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Issuer:     FIRST FINANCIAL BANKSHARES INC (FFIN)
CIK:        0000036029
Form:       8-K
Filed at:   2021-07-07T23:59:59+00:00
Accession:  0001193125-21-209875
Event type: debt
Sentiment:  neutral
Materiality: 0.20
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36029/000119312521209875/0001193125-21-209875-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36029/000119312521209875/d136016d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-209875

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