Welcome to our dedicated page for First Gty Bancsh news (Ticker: FGBIP), a resource for investors and traders seeking the latest updates and insights on First Gty Bancsh stock.
The FGBIP news page tracks announcements and regulatory disclosures related to First Guaranty Bancshares, Inc.’s 6.75% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock. These depositary shares, each representing a 1/40th interest in a share of the Series A preferred stock, are issued by First Guaranty Bancshares, Inc., the holding company for First Guaranty Bank, a Louisiana state-chartered bank founded in 1934.
News for FGBIP often appears in the context of broader corporate updates from First Guaranty Bancshares, Inc. This includes board decisions on quarterly cash dividends for the Series A Preferred Stock, with 8-K filings describing the per-share dividend on the preferred stock and the corresponding distribution per FGBIP depositary share. Investors can also see how preferred stock dividends fit alongside the company’s long record of consecutive quarterly dividends on its common stock.
Because FGBIP is tied to the issuer’s capital structure, relevant news items may include SEC filings about preferred stock dividend declarations, private placements of common stock, exchanges of subordinated notes for equity, and other capital-related transactions. Company press releases describing the bank’s branch network, operating footprint in Louisiana, Texas, Kentucky and West Virginia, and its history as a community-focused institution provide additional context for the preferred securities.
By following the FGBIP news feed, readers can monitor how First Guaranty Bancshares, Inc. communicates changes affecting its 6.75% Series A Preferred Stock and the associated depositary shares. This page aggregates corporate announcements and regulatory updates so investors can review dividend declarations and other material events connected to the FGBIP preferred issue in one place.
Summary not available.
Summary not available.
Summary not available.
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.
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.
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.
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.
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.
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.
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.