Business Context and Reporting Period
Company: Landmark Bancorp, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: November 18, 2009
Event: Entry into a Material Definitive Agreement (First Amendment to Revolving Credit Agreement).
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or general liquidity metrics. It specifically addresses the following debt facility terms:
- Credit Facility Lender: First National Bank of Omaha (FNBO).
- Maximum Borrowing Capacity: $7.5 million.
- Interest Rate: Prime rate plus 25 basis points, with a floor of 4.25%.
- Maturity Date: Extended to November 17, 2010.
Material Changes
On November 18, 2009, the Company amended its Revolving Credit Agreement originally dated November 19, 2008. The material changes include:
- Extension of the maturity date to November 17, 2010.
- Confirmation of borrowing capacity up to $7.5 million.
- Adjustment of the interest rate structure (Prime + 25 bps, minimum 4.25%).
- Amendment of certain financial covenants included in the original agreement.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or specific risk factors beyond the terms of the amended credit agreement. The filing notes the amendment of financial covenants but does not disclose the specific details of those covenants.
Investor Verification Checklist
- Verify the specific terms of the amended financial covenants not detailed in this summary.
- Confirm the current outstanding balance under the $7.5 million credit facility.
- Review the Company's most recent 10-Q or 10-K for broader liquidity and debt position context.