Smith Edgar R. III reported open-market purchase transactions in this Form 4 filing.
First Guaranty Bancshares director and 10% owner Edgar R. Smith III reported updated holdings in common stock of the company. An affiliated entity, Smith & Tate Investments, LLC, acquired 74,846 shares at $10.61 per share, and held 859,246 shares after the transaction.
Footnotes explain these shares were issued under a Second Amendment to a promissory note and a Second Amendment to a floating rate subordinated note due 2034 between the company and Smith & Tate Investments, LLC. The filing also lists substantial additional direct and indirect holdings across several related LLCs, and notes that Smith disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.
First Guaranty Bancshares, Inc. is continuing its long dividend track record by declaring a quarterly cash dividend of $0.01 per share on its common stock. The Board approved the dividend on May 21, 2026.
The dividend will be paid on June 30, 2026 to shareholders of record as of June 26, 2026. This marks the company’s 132nd consecutive quarterly dividend to common shareholders, underscoring a long history of making regular cash returns to equity holders.
First Guaranty Bancshares, Inc. reported the results of its annual shareholder meeting held on May 21, 2026. Shareholders elected all seven director nominees, with support levels generally around or above nine million votes "for" each nominee and broker non-votes of 1,706,055 on each director item.
Investors also gave advisory approval to the company’s executive compensation program, with 9,958,082 votes "for," 61,804 "against," 25,667 "abstain," and 1,706,055 broker non-votes. In addition, shareholders ratified the appointment of EisnerAmper, LLP as the independent registered public accounting firm for the year ending December 31, 2026, by 11,671,383 votes "for," 40,368 "against," and 39,857 "abstain."
First Guaranty Bancshares, Inc. reported $2.7 million in net income for the first quarter of 2026, versus a $6.2 million net loss a year earlier. Net interest income was $20.7 million, versus $22.2 million; the provision for credit losses was $2.6 million, versus $14.5 million. Net interest margin was 2.07%, compared with 2.35%.
At March 31, 2026, total assets were $4.0 billion, loans were $1.9 billion (down $145.2 million, or 7.0%, from year-end), and deposits were $3.5 billion (down $125.3 million, or 3.4%). Nonaccrual loans were $54.4 million, versus $59.6 million at December 31, 2025. Operating cash flow was $50.6 million, versus $5.4 million a year earlier.
First Guaranty Bank agreed to sell its Texas operations—five branches and related deposits, loans and certain other assets—to Armstrong Bank; the transaction is expected to include approximately $270 million in deposits and $110 million in loans. On April 30, 2026, First Guaranty completed a 436,204-share private placement at $9.17 per share, generating approximately $4.0 million in gross proceeds for general corporate purposes. It repurchased three properties on April 29, 2026. Amendments to related-party notes with Smith & Tate Investment, L.L.C. extend a quarterly principal-payment waiver through March 31, 2028; both notes permit interest payments in cash or common stock.
First Guaranty Bancshares, Inc. reported a return to profitability in the first quarter of 2026, with net income of $2.7 million and earnings available to common shareholders of $2.2 million, or $0.14 per share, compared with a loss a year earlier.
Total assets were $4.0 billion, with loans of $1.9 billion and deposits of $3.5 billion as the bank deliberately reduced loans and higher-cost deposits to lower balance sheet risk. Nonperforming assets declined to $83.5 million, down $12.0 million since year-end 2025, while the bank risk weighted capital ratio rose to 14.71%.
The provision for credit losses was $2.6 million and loan charge-offs were $5.4 million in the quarter. Return on average assets was 0.27% and return on average common equity was 4.52%, and the company continued its long streak of quarterly dividends.
First Guaranty Bancshares, Inc., through its subsidiary First Guaranty Bank, has terminated certain long-term lease agreements by buying back three previously sold bank properties. On April 29, 2026, the Bank purchased two stand-alone branches and part of its headquarters building for an aggregate cash price of $14,770,000 from FGB Partners, LLC.
The properties were originally sold to FGB Partners on June 28, 2024 in a sale-leaseback transaction, with the Bank entering into absolute net leases having initial 15-year terms and renewal options. In connection with the repurchase, these lease agreements were terminated. FGB Partners is owned by individuals who are significant shareholders and are related to members of First Guaranty’s board.
First Guaranty Bancshares, Inc. director and ten percent owner Marshall T. Reynolds, through affiliate Reynolds Capital Partners, reported an open-market purchase of 109,051 shares of common stock on April 30, 2026 at $9.17 per share. This increased Reynolds Capital Partners’ indirect holdings to 117,551 shares of common stock. The filing also lists additional indirect holdings through several family affiliates and trusts, and direct ownership of 2,025,997 shares of common stock as of that date.
First Guaranty Bancshares director-associated entity reports major share purchase. On April 30, 2026, Smith & Tate Investments, LLC, an entity associated with director and ten percent owner Edgar R. Smith III, bought 109,051 shares of First Guaranty Bancshares common stock in an open-market purchase at $9.17 per share. After this trade, Smith & Tate Investments, LLC held 784,400 shares indirectly. The filing also lists other indirect holdings through several LLCs and a separate direct holding of 2,867,467 shares. The footnote states that Smith disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.
First Guaranty Bancshares, Inc. director Bruce McAnally reported an indirect open-market purchase tied to a trust. On April 30, 2026, the BMAC Irrevocable Asset Trust, for which he is trustee, bought 109,051 shares of common stock at $9.17 per share, bringing that trust’s holdings to 441,587 shares.
The Form 4 also lists multiple indirect holdings through other trusts, retirement accounts, and an affiliate, along with 3,253 shares held directly. A footnote states that McAnally disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.
First Guaranty Bancshares, Inc. has declared a quarterly cash dividend on its 6.75% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock. Holders of its Depositary Shares, each representing a 1/40th interest in a share of this Series A preferred, will receive $0.421875 per Depositary Share. This comes from a $16.875 per share quarterly dividend on the underlying Series A Preferred Stock. The dividend will be paid on June 1, 2026 to holders of record of the Depositary Shares as of May 15, 2026.