Credit Agreement (Form 8-K)

Entry Into a Material Definitive Agreement

On June 9, 2021 (the 'Closing Date'), Citizens Holding Company (the 'Company') entered into a Secured Revolving Line of Credit Agreement (the 'Agreement') in the amount of TWENTY MILLION DOLLARS ($20,000,000.00), ('Loan' or 'Committed Amount') with First Horizon Bank ('Lender').

The proceeds of the Agreement shall be used by the Company to provide capital injection into the subsidiary Bank and for general corporate purposes of the Company.

The Agreement bears interest at a floating interest rate linked to WSJ Prime Rate with an initial interest rate of 3.25%, which is payable quarterly on the first day of each calendar quarter hereafter, commencing on July 1, 2021, with the final installment of interest being due and payable concurrently on the same date that the principal balance is due hereunder.

The Agreement bears an unused line fee at a rate equal to 25/100 percent (0.25%) per annum (the 'Unused Line Fee'), applied to the amount by which the Committed Amount exceeds the outstanding principal balance of the outstanding Loan, calculated on a daily basis, during the immediately preceding calendar quarter while this Agreement is in effect and for so long thereafter as any obligations are outstanding, which fee shall be payable on the first (1^st) day of each calendar quarter in arrears.

The Agreement shall be secured by the common stock of The Citizens Bank (the 'Bank'), a wholly-owned subsidiary of the Company.

The Agreement shall mature on June 9, 2023, in which all unpaid interest and principal shall be due.

The description above is qualified in its entirety by the Agreement, which is included as Exhibit 10(l).

Creation of a Direct Financing Obligation or an Obligation under an Off-BalanceSheet Arrangement of a Registrant.

Please see the discussion set forth under Item 1.01, 'Entry into a Material Definitive Agreement,' of this Form 8-K,which discussion is incorporated herein by reference in its entirety.

Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Description
10(l)		Citizens Holding Company Revolving Credit Loan Agreement
Exhibit 104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

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