Attached files
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| EX-10.1 - LOC LOAN AGREEMENT WITH BANKERS BANK OF KENTUCKY - PREMIER FINANCIAL BANCORP INC | bbkylocloanagreement.htm |
| EX-10.3 - LOC SECURITY AGREEMENT WITH BANKERS BANK OF KENTUCKY - PREMIER FINANCIAL BANCORP INC | bbkyloccollateralpledge.htm |
| EX-10.2 - LOC PROMISSORY NOTE WITH BANKERS BANK OF KENTUCKY - PREMIER FINANCIAL BANCORP INC | bbkylocpromissorynote.htm |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) September 7, 2012
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PREMIER FINANCIAL BANCORP, INC.
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(Exact name of registrant as specified in its charter)
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Commission file number 000-20908
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Kentucky
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61-1206757
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(State or other jurisdiction of incorporation organization)
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(I.R.S. Employer Identification No.)
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2883 Fifth Avenue
Huntington, West Virginia
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25702
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number (304) 525-1600
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Not Applicable
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Former name or former address, if changes since last report)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
o Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
PREMIER FINANCIAL BANCORP, INC,
INFORMATION TO BE INCLUDED IN THE REPORT
Item 2.03. Creation of a Direct Financial Obligation
On September 7, 2012, Premier Financial Bancorp, Inc. (“Premier”) executed and delivered to The Bankers’ Bank of Kentucky, Inc. of Frankfort, Kentucky (“Bankers’ Bank”) a Promissory Note and Loan Agreement dated September 7, 2012 establishing a line of credit in the principal amount of $5,000,000, bearing interest floating daily at the “JP Morgan Chase” prime rate (initially 3.25%), with a floor of 4.50%. Under the terms of the Promissory Note, Premier may request and receive advances from Bankers’ Bank from time to time, but the aggregate outstanding principal balance under the Promissory Note at any time shall not exceed $5,000,000, and the right to request and receive monies from Bankers’ Bank shall cease and terminate on September 7, 2013. Accrued interest on amounts outstanding is payable quarterly, and any amounts outstanding are payable on demand or on September 7, 2013. The Promissory Note is secured by a pledge of Premier’s 100% interest in Citizens Deposit Bank and Trust, Inc. (a wholly owned subsidiary) under a Stock Pledge and Security Agreement dated September 7, 2012. This line of credit replaces a $5,000,000 line of credit Premier had with First Sentry Bank, of Huntington, West Virginia. At the time of the execution of these agreements, Premier had no outstanding debt to First Sentry Bank, had no outstanding balance on this line of credit with Bankers’ Bank and had $9.0 million outstanding on its September 8, 2010 Term Note with Bankers’ Bank.
Item 9.01. Financial Statements and Exhibits
(c) Exhibit 10.1 – Loan Agreement between Premier Financial Bancorp, Inc. and The Bankers’ Bank of Kentucky, Inc. dated September 7, 2012.
(c) Exhibit 10.2 – Promissory Note between Premier Financial Bancorp, Inc. and The Bankers’ Bank of Kentucky, Inc. dated September 7, 2012.
(c) Exhibit 10.3 – Stock Pledge and Security Agreement between Premier Financial Bancorp, Inc. and The Bankers’ Bank of Kentucky, Inc. dated September 7, 2012.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
PREMIER FINANCIAL BANCORP, INC.
(Registrant)
/s/ Brien M. Chase
Date: September 10, 2012 Brien M. Chase, Senior Vice President
and Chief Financial Officer
EXHIBIT INDEX
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Exhibit Number
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Description
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10.1
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Loan Agreement between Premier Financial Bancorp, Inc. and The Bankers’ Bank of Kentucky, Inc. dated September 7, 2012.
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10.2
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Promissory Note between Premier Financial Bancorp, Inc. and The Bankers’ Bank of Kentucky, Inc. dated September 7, 2012.
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10.3
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Stock Pledge and Security Agreement between Premier Financial Bancorp, Inc. and The Bankers’ Bank of Kentucky, Inc. dated September 7, 2012.
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