FGBIMEDIUM SIGNALOPERATIONAL10-K

First Guaranty Bancshares is executing a strategic market exit from Texas while experiencing a notable increase in outstanding shares and decline in shareholders' equity.

The bank's decision to exit the Dallas-Fort Worth-Arlington and Waco, Texas markets represents a significant operational restructuring that will reduce their geographic footprint from 35 to 30 banking facilities. The substantial increase in outstanding shares from 12.5 million to 15.8 million suggests either a capital raise or acquisition financing, while the decline in shareholders' equity from $255.0 million to $226.2 million warrants monitoring for potential impact on capital ratios.

Comparing 2026-03-31 vs 2025-03-17View on EDGAR →
FINANCIAL ANALYSIS

The company's balance sheet shows modest asset growth with total assets increasing from $4.0 billion to $4.1 billion and deposits growing from $3.5 billion to $3.6 billion. However, shareholders' equity declined meaningfully from $255.0 million to $226.2 million, which combined with the significant share count increase suggests potential dilution from equity financing activities. Capital expenditures were reduced notably from $3.0 million to $1.7 million, reflecting more conservative spending as the company restructures its operations.

FINANCIAL STATEMENT CHANGES
Capital Expenditure
Cash Flow
-44.3%
$3.0M$1.7M

Capex reduced 44.3% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

LANGUAGE CHANGES
NEW — 2026-03-31
PRIOR — 2025-03-17
ADDED
As of March 16, 2026, there were issued and outstanding 15,793,433 shares of the Registrant's Common Stock.
("First Guaranty" or "First Guaranty Bancshares") is a Louisiana corporation, and financial holding company headquartered in Hammond, Louisiana.
Our wholly owned subsidiary, First Guaranty Bank (the "Bank"), a Louisiana state-chartered commercial bank, provides personalized commercial banking services customers through 30 banking facilities.
The facilities are primarily located in the metropolitan/micropolitan statistical areas ("MSAs"), of Hammond, Baton Rouge, Lafayette, Shreveport-Bossier City, and Alexandria, Louisiana; Dallas-Fort Worth-Arlington and Waco, Texas; Vanceburg, Kentucky; and Bridgeport, West Virginia.
As announced in a Current Report on Form 8-K filed on March 9, 2026, First Guaranty has entered into a purchase and assumption agreement pursuant to which it would exit the Dallas-Fort Worth-Arlington and Waco, Texas markets.
At December 31, 2025, we had consolidated total assets of $4.1 billion, total deposits of $3.6 billion and total shareholders' equity of $226.2 million.
Since the implementation of that recapitalization plan, we have grown from six branches and $159 million in assets at the end of 1993 to 30 locations currently and $4.1 billion in assets at December 31, 2025.
We have also paid a quarterly dividend on our common stock for 130 consecutive quarters as of December 31, 2025.
Since 2023 we have issued an additional $27.0 million in common stock through private placements.
July 30, 2007 $ 12,140 $ 129,606 Hammond MSA *As previously noted above, First Guaranty Bank has entered into a purchase and assumption agreement pursuant to which it would exit the Dallas-Fort Worth-Arlington and Waco markets.
REMOVED
As of March 13, 2025, there were issued and outstanding 12,504,717 shares of the Registrant's Common Stock.
("First Guaranty") is a Louisiana corporation, and financial holding company headquartered in Hammond, Louisiana.
Our wholly owned subsidiary, First Guaranty Bank (the "Bank"), a Louisiana state-chartered commercial bank, provides personalized commercial banking services mainly to Louisiana and Texas customers through 35 banking facilities primarily located in the metropolitan/micropolitan statistical areas ("MSAs"), of Hammond, Baton Rouge, Lafayette, Shreveport-Bossier City, Lake Charles, Alexandria, Dallas-Fort Worth-Arlington, Waco, Texas.
First Guaranty expanded into Kentucky and West Virginia, our Mideast markets, in 2021 with loan and deposit production offices.
First Guaranty now has branches in Vanceburg, Kentucky and Bridgeport, West Virginia.
At December 31, 2024, we had consolidated total assets of $4.0 billion, total deposits of $3.5 billion and total shareholders' equity of $255.0 million.
Since the implementation of that recapitalization plan, we have grown from six branches and $159 million in assets at the end of 1993 to 35 locations currently and $4.0 billion in assets at December 31, 2024.
We have also paid a quarterly dividend on our common stock for 126 consecutive quarters as of December 31, 2024.
In 2023 we issued $20.0 million of common stock through two separate private placements.
July 30, 2007 $ 12,140 $ 129,606 Hammond MSA -5- Our Markets Our primary market areas include the Louisiana MSAs of Hammond, Baton Rouge, Lafayette, Shreveport-Bossier City, Lake Charles and Alexandria along with the Texas MSAs of Dallas-Fort Worth-Arlington and Waco.
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