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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: January 24, 2022
Professional Holding Corp.
(Exact name of registrant as specified in its charter)
Florida 001-39215 46-5144312
(State or other jurisdiction of
incorporation) 		(Commission File Number) (IRS Employer
 Identification No.)
396 Alhambra Circle, Suite 255
Coral Gables, Florida,
33134
(Address of principal executive offices) (Zip Code)
(786) 483-1757
(Registrant's telephone number, including area code)
Not applicable.
(Former name or former address, if changed since last report)
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
Title of Class Trading Symbol(s) Name of Exchange on which registered
Class A Common Stock, par value $0.01 per share PFHD NASDAQ Stock Market, LLC
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:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 1.01. Entry into a Material Definitive Agreement.

On January 24, 2022 (the “Closing Date”), Professional Holding Corp. (the “Company”) and Valley National Bank, entered into an extension (the “Valley National Extension”) of that certain Promissory Note (Revolving) (the “Note”) dated December 19, 2019, as extended January 7, 2021, and further extended May 10, 2021, in the amount of $10.0 million. The principal balance outstanding pursuant to the Note on the Closing Date was $10.0 million.

The Valley National Extension, among other things, extended the maturity date of the Note to March 1, 2023, and increased the availability under the Note from $10.0 million to $25.0 million. The other material terms of the Note were unchanged.

The foregoing description of the Valley National Extension is qualified in its entirety by reference to the complete text of the Valley National Extension, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference

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

The information set forth in Item 1.01 is hereby incorporated by reference to this Item 2.03.


Item 9.01. Financial Statements and Exhibits.
Exhibit No. Description
10.1
104 Cover Page Interactive Data File (embedded within the Inline XBRL Document)


SIGNATURES
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.
Professional Holding Corp.
Date: January 26, 2022 By: /s/ Michael C. Sontag
Michael C. Sontag
Corporate Secretary