First Guaranty Bancshares, Inc. reports news as the bank holding company for First Guaranty Bank, a Louisiana state-chartered bank founded in 1934. The company provides community and commercial banking services through markets in Louisiana, Texas, Kentucky and West Virginia, with lending activity that includes commercial real estate, commercial and industrial, construction and land development, agricultural and farmland, consumer and multifamily loans.
Recurring updates cover quarterly and annual financial results, net interest margin, loan and deposit trends, asset growth, capital and shareholder equity, cash dividends on common stock, branch activity and executive succession. Company announcements also address banking operations, local market expansion and changes affecting the holding company and its bank subsidiary.
First Guaranty Bancshares, Inc. (FGBI) announced the pricing of its public offering of 1,200,000 depositary shares, each representing a 1/40th interest in its 6.75% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock, with a liquidation preference of $1,000 per share. The offering aims for gross proceeds of $30 million, or $34.5 million if the underwriter exercises their option for additional shares. Closing is expected around April 27, 2021, pending conditions. The net proceeds will be used for general corporate purposes. Janney Montgomery Scott LLC is the offering's book-running manager.