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FIRST GUARANTY BANCSHARES INC - FGBI STOCK NEWS

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First Guaranty Bancshares Inc (FGBI) has been a cornerstone of Louisiana's banking sector for over 80 years. With a steadfast commitment to its customers, First Guaranty Bancshares Inc provides personalized commercial banking services through numerous facilities across the state. The company specializes in attracting deposits and utilizing these funds, along with operational earnings and borrowings, to invest in securities and support various lending activities that address the credit needs of its customer base.

First Guaranty Bancshares Inc offers a comprehensive range of loan products, including commercial real estate loans, commercial and industrial loans, construction and land development loans, agricultural and farmland loans, and multifamily loans. These services ensure that the diverse financial needs of their clients are met, from small businesses to large enterprises and individual consumers.

With local decision-making power, First Guaranty Bancshares Inc stands out in the crowded banking industry as a trusted institution. This capability allows the bank to respond swiftly and effectively to the needs and expectations of its customers. The bank's commitment is further evidenced by its enduring presence, spanning three generations of trust in the financial landscape of Louisiana.

Recent achievements of the company include consistent financial growth, strategic partnerships, and new product offerings that enhance customer experience. The company continues to prioritize providing high-quality banking services, maintaining a robust financial condition, and expanding its reach and impact within the community.

As the economy evolves, First Guaranty Bancshares Inc remains a stable and reliable banking partner, dedicated to fostering long-term relationships with its customers and contributing to the economic well-being of Louisiana.

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First Guaranty Bancshares, Inc. (NASDAQ: FGBI) announced unaudited financial results for the quarter ending June 30, 2023. Despite challenges, the company showed resilience, with increased interest income and stabilized interest expense. The company also managed to make over $2,000,000 for shareholders even after the FDIC assessment.
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First Guaranty Bancshares, Inc. (NASDAQ: FGBI) reported its unaudited financial results for the year ending December 31, 2022, marking its fifth consecutive year of earnings growth. Total assets reached $3.15 billion, a 9% increase from $2.88 billion in 2021. The loan portfolio expanded by 17% to $2.52 billion. Despite modest earnings growth of $1.6 million, net earnings were affected by rising interest expenses due to Federal Reserve rate hikes. The yield rate on interest-earning assets improved to 5.77%, indicating potential for stronger earnings in 2023. The company continues to enhance its operational capabilities and expand into new markets, notably Houston.

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First Guaranty Bancshares, Inc. (Nasdaq: FGBI) has announced a definitive agreement to acquire Lone Star Bank in an all-stock transaction, further expanding its footprint in Texas. Founded over 88 years ago, First Guaranty operates 36 banking facilities and manages approximately $3.1 billion in assets. Following the acquisition, the combined institutions will hold around $3.2 billion in total assets, enhancing their service offerings in the Houston market. The merger, approved by both companies' boards, aims to solidify First Guaranty's market position and improve customer service.

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First Guaranty Bank has received official regulatory approval to expand into Kentucky and West Virginia by converting existing loan and deposit production offices into full-service branches. The Vanceburg branch is set to open in December 2022, followed by the Bridgeport branch in mid-2023. This expansion is expected to enhance community banking services, with total loans exceeding $216 million and deposits at $6 million as of Q3. The bank, founded in 1934, operates thirty-six locations across multiple states and trades under the FGBI and FGBIP symbols.

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First Guaranty Bancshares reported improved earnings for Q3 2022, with a rise in EPS from $0.67 in 2021 to $0.70 in 2022. For the nine-month period, EPS increased from $1.72 to $2.05. Despite facing challenges like interest rate hikes and natural disasters, total interest income rose 20% to $98.27 million. The loan portfolio grew by 17%, reaching $2.42 billion. The bank's total deposits also increased to $2.71 billion. This performance underscores the bank's robust asset quality and commitment to shareholder value with a consistent dividend payment.

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On August 18, 2022, the Board of Directors of First Guaranty Bancshares declared a quarterly cash dividend of $0.16 per share on its common stock. The dividend is payable on September 30, 2022 to shareholders of record as of September 23, 2022. This marks the 117th consecutive quarterly dividend paid to common shareholders, reflecting First Guaranty’s commitment to returning value to its investors.

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First Guaranty Bancshares, Inc. (NASDAQ: FGBI) reported strong financial results for Q2 2022, with income available to common shareholders rising 21.4% to $7,542,000 compared to $6,214,000 in Q2 2021. For the first half of 2022, income increased by 29.4% to $14,545,000. The loan portfolio expanded significantly, now totaling $2,295,738,000, driven partly by new loans from the Mideast region. Notably, problem loans were reduced, and past due loans decreased, contributing to a healthier capital ratio of 3.86%. The bank aims to enhance shareholder value while maintaining a robust balance sheet.

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First Guaranty Bancshares, Inc. has been added to the Russell 2000 index, marking a significant milestone in its growth journey. This inclusion is part of the annual reconstitution of the Russell indexes, which ranks the top 4,000 U.S. stocks by market capitalization as of May 6, 2022. The Russell indexes serve as a key benchmark for institutional investors, with about $10.6 trillion in assets tied to these indexes. Alton Lewis, President and CEO, expressed pride in this achievement, highlighting it as a validation of the company’s ongoing growth and commitment to excellence.

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FAQ

What is the current stock price of FIRST GUARANTY BANCSHARES (FGBI)?

The current stock price of FIRST GUARANTY BANCSHARES (FGBI) is $13.61 as of December 9, 2024.

What is the market cap of FIRST GUARANTY BANCSHARES (FGBI)?

The market cap of FIRST GUARANTY BANCSHARES (FGBI) is approximately 169.9M.

What services does First Guaranty Bancshares Inc offer?

First Guaranty Bancshares Inc offers commercial real estate loans, commercial and industrial loans, construction and land development loans, agricultural and farmland loans, and multifamily loans.

Where does First Guaranty Bancshares Inc operate?

First Guaranty Bancshares Inc operates primarily in Louisiana, providing personalized commercial banking services through several banking facilities.

How long has First Guaranty Bancshares Inc been in operation?

First Guaranty Bancshares Inc has been serving the people of Louisiana for over 80 years.

What makes First Guaranty Bancshares Inc different from other banks?

First Guaranty Bancshares Inc has the power to make loan decisions at a local level, offering personalized service and quick response times to meet customer needs.

How does First Guaranty Bancshares Inc invest its funds?

First Guaranty Bancshares Inc invests its funds in securities and lending activities to serve the credit needs of its customer base.

What type of loans does First Guaranty Bancshares Inc provide?

The bank provides commercial real estate loans, commercial and industrial loans, construction and land development loans, agricultural and farmland loans, and multifamily loans.

Who are the key executives of First Guaranty Bancshares Inc?

The key executives include Alton Lewis, CEO, and Eric Dosch, CFO.

How does First Guaranty Bancshares Inc support local businesses?

First Guaranty Bancshares Inc supports local businesses by providing a range of commercial loans and making loan decisions at a local level to meet their specific needs.

What is the financial condition of First Guaranty Bancshares Inc?

First Guaranty Bancshares Inc maintains a robust financial condition, focusing on consistent growth and developing strategic partnerships.

How can I contact First Guaranty Bancshares Inc?

You can contact First Guaranty Bancshares Inc by calling Alton Lewis, CEO, at 985.375.0350 or Eric Dosch, CFO, at 985.375.0308.

FIRST GUARANTY BANCSHARES INC

Nasdaq:FGBI

FGBI Rankings

FGBI Stock Data

169.94M
6.02M
51.89%
6.81%
0.08%
Banks - Regional
Savings Institution, Federally Chartered
Link
United States of America
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