First Financial Bancorp. entered into a Credit Agreement with Stifel Bank & Trust pursuant to which Lender agreed, on an uncommitted and discretionary basis, to make loans to the Company for up to $40 million to use for general corporate purposes. The Credit Agreement permits the Company to designate each loan under the Credit Agreement as either a “Base Rate Loan” or a “SOFR Loan.” Each Base Rate Loan will bear interest at a rate per annum equal to the applicable margin of 1.75% plus the great of the Prime Rate as quoted in The Wall Street Journal at such time, 1/2 of 1% in excess of the Federal Funds Effective Rate at such time, or SOFR for a SOFR Loan with a one-month interest period commencing at such time plus 1.10%.

Each SOFR Loan will bear interest at a variable rate equal to the applicable margin of 1.75%, plus the CME Term SOFR, plus 0.10%. The credit facility terminates on December 28, 2022, unless otherwise extended, or such date of the acceleration of the obligation pursuant to the Credit Agreement, at which time all amounts borrowed, together with applicable interest, fees, and other amounts owed by the Company shall be due and payable. The Credit Agreement is secured by a pledge of 100% of the Company's common stock in First Financial Bank in favor of the Lender under a Pledge and Security Agreement, dated December 29, 2021.