C&F FINANCIAL CORPORATION (NASDAQ:CFFI) Files An 8-K Entry into a Material Definitive Agreement

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C&F FINANCIAL CORPORATION (NASDAQ:CFFI) Files An 8-K Entry into a Material Definitive Agreement

C&F FINANCIAL CORPORATION (NASDAQ:CFFI) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01         Entry into a Material Definitive Agreement

The information set forth under Item 2.03 is incorporated into this Item 1.01 by reference.

Item 2.03         Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

On May 8, 2020, C&F Finance Company, the wholly-owned consumer finance subsidiary of C&F Financial Corporation, entered into the Ninth Amendment to the Amended and Restated Loan and Security Agreement with Wells Fargo Bank, N.A. and various financial institutions (the “Amendment” and the agreement as amended, the “Loan and Security Agreement”), which amended the Amended and Restated Loan and Security Agreement, dated as of August 25, 2008, as amended by (i) the First Amendment to Amended and Restated Loan and Security Agreement , dated as of July 1, 2010, (ii) the Second Amendment to Amended and Restated Loan and Security Agreement , dated as of September 17, 2012, (iii) the Third Amendment to Amended and Restated Loan and Security Agreement , dated as of November 12, 2013, (iv) the Fourth Amendment to Amended and Restated Loan and Security Agreement , dated as of September 2, 2015, (v) the Fifth Amendment to Amended and Restated Loan and Security Agreement , dated as of November 1, 2016, (vi) the Sixth Amendment to Amended and Restated Loan and Security Agreement , dated as of June 28, 2017, (vii) the Seventh Amendment to Amended and Restated Loan and Security Agreement , dated as of December 21, 2017 and (viii) the Eighth Amendment to Amended and Restated Loan and Security Agreement , dated as of April 30, 2019.

Among other non-material changes, at the request of C&F Finance Company the Amendment:

The foregoing description is a summary of the material provisions of the Amendment and is qualified in its entirety by the Amendment, which is filed as Exhibit 10.19.9 hereto and is incorporated herein by reference.

In connection with entering into the Amendment, C&F Financial Corporation paid down the line of credit from its prior balance of $75 million to $0, using excess cash.

Item 9.01         Financial Statements and Exhibits

(d) Exhibits

10.19.9    Ninth Amendment to Amended and Restated Loan and Security Agreement  by and among Wells Fargo Bank, N.A., various financial institutions and C&F Finance Company dated as of May 8, 2020 

C & F FINANCIAL CORP Exhibit
EX-10.19.9 2 cffi-20200508ex101998cc9.htm EX-10.19.9 cffi_Wells_Material_Agreeement_Exhibit Exhibit 10.19.9 NINTH AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT   This Ninth Amendment to Amended and Restated Loan and Security Agreement (“Amendment”) is dated as of May _08_,…
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About C&F FINANCIAL CORPORATION (NASDAQ:CFFI)

C&F Financial Corporation is a bank holding company. The Company owns and operates through its subsidiary, Citizens and Farmers Bank (the Bank or C&F Bank), which is an independent commercial bank. The Company’s segments include Retail Banking, Mortgage Banking, Consumer Finance and Other. Through the Retail Banking segment, the Company engages in a range of lending activities, which include the origination of one- to four-family and multi-family residential mortgage loans, commercial real estate loans, construction loans, land acquisition and development loans, consumer loans and commercial business loans. The Company engages in residential mortgage lending through the Mortgage Banking segment. The Company engages in non-prime automobile lending through the Consumer Finance segment. Its Other segment includes a full-service brokerage firm. It conducts mortgage banking activities through C&F Mortgage Corporation. It conducts consumer finance activities through C&F Finance Company.