First Guaranty (FGBI) insider buys 138,083 shares at $7.77
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
First Guaranty Bancshares director and 10% owner Edgar R. Smith III, through Smith & Tate Investments, LLC, bought 138,083 shares of common stock at $7.77 per share in an open-market purchase on March 31, 2026.
After this transaction, Smith & Tate Investments, LLC held 675,349 shares indirectly for him. The Form 4 also reports 2,867,467 shares held directly in his name and additional indirect holdings through entities such as Smith-Hoover Holdings, L.L.C., MACSMITH LLC, Smith & Hood Investment, LLC, Big 4 Investments, LLC, and Smith & Hood Holding Company, LLC. A footnote explains he disclaims beneficial ownership beyond his pecuniary interest and that his indirect position includes 105,907 shares issued under recent amendments to a promissory note and a subordinated note.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 138,083 shares ($1,072,905)
Net Buy
7 txns
Insider
Smith Edgar R. III
Role
Director, 10% Owner
Bought
138,083 shs ($1.07M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | COMMON STOCK | 138,083 | $7.77 | $1.07M |
| holding | COMMON STOCK | -- | -- | -- |
| holding | COMMON STOCK | -- | -- | -- |
| holding | COMMON STOCK | -- | -- | -- |
| holding | COMMON STOCK | -- | -- | -- |
| holding | COMMON STOCK | -- | -- | -- |
| holding | COMMON STOCK | -- | -- | -- |
Holdings After Transaction:
COMMON STOCK — 675,349 shares (Indirect, By: Smith & Tate Investments, LLC);
COMMON STOCK — 2,867,467 shares (Direct)
Footnotes (1)
- The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. Includes 105,907 shares of common stock issued to the reporting person pursuant to the terms of the Second Amendment to the Promissory Note, dated as of March 20, 2026, by and between First Guaranty Bancshares, Inc. and Smith & Tate Investments, L.L.C. (the "Second Promissory Note Amendment") and the Second Amendment to the First Guaranty Bancshares, Inc. Floating Rate Subordinated Note due March 28, 2034, dated as of March 20, 2026, by and between First Guaranty Bancshares, Inc. and Smith & Tate Investments, L.L.C. (the "Second Subordinated Note Amendment"). The Second Promissory Note Amendment and the Second Subordinated Note Amendment were filed as Exhibit 10.1 and Exhibit 10.2 to the Form 8-K filed by First Guaranty Bancshares, Inc. with the SEC on March 20, 2026.
Key Figures
Shares purchased: 138,083 shares
Purchase price: $7.77 per share
Indirect shares via Smith & Tate Investments, LLC: 675,349 shares
+3 more
6 metrics
Shares purchased
138,083 shares
Open-market purchase of common stock on March 31, 2026
Purchase price
$7.77 per share
Price paid for the 138,083 purchased shares
Indirect shares via Smith & Tate Investments, LLC
675,349 shares
Total held indirectly after the reported purchase
Direct holdings
2,867,467 shares
Common stock held directly by Edgar R. Smith III
Indirect holdings via Smith & Hood Holding Company, LLC
1,062,817 shares
Common stock held indirectly through Smith & Hood Holding Company, LLC
Shares issued under note amendments
105,907 shares
Included in holdings of Smith & Tate Investments, LLC per footnote
Key Terms
open-market purchase, beneficial ownership, pecuniary interest, Promissory Note, +2 more
6 terms
open-market purchase financial
"transaction_action: "open-market purchase""
An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.
beneficial ownership financial
"The reporting person disclaims beneficial ownership of these securities"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"except to the extent of his pecuniary interest therein"
Promissory Note financial
"Second Amendment to the Promissory Note, dated as of March 20, 2026"
A promissory note is a written IOU in which one party promises to pay a specific sum, often with interest, to another party by a set date or on demand. Investors care because it functions like a loan: it creates a legal claim on future cash flows, carries credit and timing risk, and can affect valuation or liquidity—think of it as a formal, tradable promise to be repaid that can be assessed like any other debt investment.
Floating Rate Subordinated Note financial
"Floating Rate Subordinated Note due March 28, 2034"
Form 8-K regulatory
"filed as Exhibit 10.1 and Exhibit 10.2 to the Form 8-K"
A Form 8-K is a report that companies file with the government to share important news quickly, such as changes in leadership, major business deals, or financial updates. It matters because it helps investors stay informed about significant events that could affect the company's value or stock price.
FAQ
What insider transaction did FGBI director Edgar R. Smith III report?
Edgar R. Smith III reported an open-market purchase of 138,083 shares of First Guaranty Bancshares common stock at $7.77 per share on March 31, 2026, executed through Smith & Tate Investments, LLC, which is listed as an indirect ownership vehicle on the Form 4.
What does the Form 4 say about Edgar R. Smith III’s beneficial ownership in FGBI?
A footnote states that Edgar R. Smith III disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest, clarifying that some shares are held through affiliated entities and may not reflect full voting or investment control.