pfbi8k122208.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) December 22, 2008
|
PREMIER FINANCIAL
BANCORP, INC.
|
|
(Exact
name of registrant as specified in its
charter)
|
Kentucky
|
|
61-1206757
|
(State
or other jurisdiction of incorporation organization)
|
|
(I.R.S.
Employer Identification No.)
|
|
|
|
2883
Fifth Avenue
Huntington,
West Virginia
|
|
25702
|
(Address
of principal executive offices)
|
|
(Zip
Code)
|
|
|
|
Registrant’s
telephone number (304)
525-1600
|
Not
Applicable
|
Former
name or former address, if changes since last
report)
|
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 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.
Item
9.01. Financial Statements and Exhibits
(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.
(Registrant)
/s/ Brien M.
Chase
Date:
December 23,
2008 Brien
M. Chase, Senior Vice President
and Chief Financial
Officer
EXHIBIT
INDEX
Exhibit
Number
|
|
Description
|
10.1
|
|
Modification and Extension
Agreement between Premier Financial Bancorp, Inc. and The Kentucky
Bankers’ Bank, Inc. dated December 23,
2008.
|