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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 29, 2023

Image1.jpg
FIRST GUARANTY BANCSHARES, INC.
(Exact name of registrant as specified in its charter)
Louisiana001-3762126-0513559
(State or other jurisdiction(Commission File Number)(I.R.S. Employer
incorporation or organization) Identification Number)
  
400 East Thomas Street 
Hammond, Louisiana
70401
(Address of principal executive offices)(Zip Code)
  
(985) 345-7685
(Registrant’s telephone number, including area code)
 
Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 

Emerging growth company ☐ 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $1 par valueFGBIThe Nasdaq Stock Market LLC
Depositary Shares (each representing a 1/40th interest in a share of 6.75% Series A Fixed-Rate Non-Cumulative perpetual preferred stock)FGBIPThe Nasdaq Stock Market LLC



Item 8.01 Other Events

On December 29, 2023, First Guaranty Bancshares, Inc. released a letter to Shareholders.

The letter is enclosed as Exhibit 99.1 to this report. The information in Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.

Item 9.01 Financial Statements and Exhibits

Exhibit 99.1 Letter to Shareholders dated December 29, 2023.

Forward Looking Statements

This letter contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact which represent our current judgement about possible future events. We believe these judgements are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of factors, many of which are described in our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or otherwise revise any forward-looking statements.





SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. 
  FIRST GUARANTY BANCSHARES, INC.
  (Registrant)
Date: January 2, 2024   
  By:/s/Eric J. Dosch
   Eric J. Dosch
   Chief Financial Officer
   













































 INDEX TO EXHIBITS

 
Exhibit NumberDescription
First Guaranty Bancshares, Inc. Letter to Shareholders dated December 29, 2023
 


EXHIBIT 99.1
December 29, 2023

First Guaranty Bancshares, Inc. Letter to Shareholders

Dear Shareholders,

With this letter you are receiving your 122nd consecutive quarterly cash dividend. That is impressive. It is more impressive when you consider the financial times we have gone through in the last year. In the fourth quarter of 2023, First Guaranty continued to grow. Assets as of the end of the fourth quarter are expected to be in excess of $3,500,000,000. Our loans are expected to exceed $2,700,000,000. Deposits have continued to grow and are expected to exceed $2,950,000,000.

Earnings continue to be impacted by higher interest expense; but, all indications are that higher interest expense will begin to decline in the first quarter of 2024. Meanwhile, our Lending team and our Loan Operations team have done a great job of increasing the yields on the new loans that have been placed and increasing the yields on the loans which have come up for renewal. Net income should continue to rebound. We have come through the hard times. With the things we have done to control our expenses and improve our operations, we look forward to 2024.

Thank you for your support. If you have any questions, do not hesitate to contact me.

Sincerely,

Alton B. Lewis
President/CEO

About First Guaranty
First Guaranty Bancshares, Inc. is the holding company for First Guaranty Bank, a Louisiana state-chartered bank. Founded in 1934, First Guaranty Bank offers a wide range of financial services and focuses on building client relationships and providing exceptional customer service. First Guaranty Bank currently operates thirty-six locations throughout Louisiana, Texas, Kentucky and West Virginia. First Guaranty’s common stock trades on the NASDAQ under the symbol FGBI. For more information, visit www.fgb.net.

Forward Looking Statements

This letter contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact which represent our current judgement about possible future events. We believe these judgements are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of factors, many of which are described in our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or otherwise revise any forward-looking statements.



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Dec. 29, 2023
Document Information [Line Items]  
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Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0001408534
Document Type 8-K
Document Period End Date Dec. 29, 2023
Entity Registrant Name FIRST GUARANTY BANCSHARES, INC.
Entity Incorporation, State or Country Code LA
Entity File Number 001-37621
Entity Tax Identification Number 26-0513559
Entity Address, Address Line One 400 East Thomas Street
Entity Address, City or Town Hammond
Entity Address, State or Province LA
Entity Address, Postal Zip Code 70401
City Area Code 345-7685
City Area Code (985)
Written Communications false
Soliciting Material false
Amendment Flag false
Common Stock  
Document Information [Line Items]  
Title of 12(b) Security Common Stock, $1 par value
Trading Symbol FGBI
Security Exchange Name NASDAQ
Noncumulative Preferred Stock  
Document Information [Line Items]  
Title of 12(b) Security Depositary Shares (each representing a 1/40th interest in a share of 6.75% Series A Fixed-Rate Non-Cumulative perpetual preferred stock)
Trading Symbol FGBIP
Security Exchange Name NASDAQ
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