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| PFBI > SEC Filings for PFBI > Form 8-K on 23-Dec-2008 | All Recent SEC Filings |
23-Dec-2008
Creation of a Direct Financial Obligation or an Obligation under an
On December 22, 2008, Premier Financial Bancorp, Inc. ("Premier") executed and delivered to The Bankers' Bank of Kentucky, Inc. of Frankfort, Kentucky ("Bankers' Bank") a Modification and Extension Agreement ( the "Agreement") of a November 10, 2006 Term Note whereby Premier borrowed $6,500,000 from Bankers' Bank bearing interest floating daily at the JP Morgan Chase Co. prime rate minus 1.00% (currently 2.25%) and requiring 83 monthly principal and interest payments of $100,000 and a final payment of any balance due at maturity on November 9, 2013. The Agreement served to establish an interest rate floor of 3.00% and an interest rate ceiling of 6.00%. At the date of execution of the Agreement, $4,709,390 was outstanding under the Term Note.
(c) Exhibit 10.1 - Modification and Extension Agreement between Premier Financial Bancorp, Inc. and The Kentucky Bankers' Bank, Inc. dated December 22, 2008.
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.
/s/ Brien M. Chase
Date: December 23, 2008 Brien M. Chase, Senior Vice President
and Chief Financial Officer
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