8-K
First Guaranty Bancshares, Inc. (FGBI)
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 30, 2022
FIRST GUARANTY BANCSHARES, INC.
(Exact name of registrant as specified in its charter)
| Louisiana | 001-37621 | 26-0513559 |
|---|---|---|
| (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 registeredCommon Stock, $1 par valueFGBIThe Nasdaq Stock Market LLCDepositary 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 30, 2022, 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 30, 2022.
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: December 30, 2022 | ||
| By: | /s/Eric J. Dosch | |
| Eric J. Dosch | ||
| Chief Financial Officer |
INDEX TO EXHIBITS
| Exhibit Number | Description |
|---|---|
| Exhibit 99.1 | First Guaranty Bancshares, Inc. Letter to Shareholders dated December 30, 2022 |
Document
EXHIBIT 99.1
December 30, 2022
First Guaranty Bancshares, Inc. Letter to Shareholders
Dear Shareholders,
The fourth quarter of 2022 has concluded and with its conclusion we also reached the end of the year of 2022. 2022 has been an extremely successful year for First Guaranty Bancshares, Inc. As a result, you are receiving your 118th consecutive, quarterly dividend. Stop and reflect about that for a moment – that is 29.5 years of consecutive quarterly dividends. Over that period, the dividends have never decreased. Additionally, due to stock splits and five 10% stock dividends, one share of stock in First Guaranty Bank (now First Guaranty Bancshares, Inc.) purchased in 1993 is presently 3.22 shares of First Guaranty Bancshares, Inc.. First Guaranty Bancshares, Inc. has proven to be and continues to be a very profitable investment.
In 2022, our total assets have grown to approximately $3,126,128,000 as of December 31, 2022, compared to $2,878,120,000 as of December 31, 2021. Our loan portfolio has grown to approximately $2,520,000,000 as of December 31, 2022, compared to $2,159,359,000 as of December 31, 2021. Due to the proactive steps, we have taken in the last two years, although our interest expense has grown tremendously, we have maintained profitability. We have significantly improved our technology and products in 2022.
We have been named by Newsweek and Lending Tree as the Best Small Bank in the United States for the third consecutive year. The award has been made for three years and we have received the award all three years. We continue to improve First Guaranty Bancshares, Inc. to increase shareholder value and to build a fortress balance sheet.
Please enjoy your 118th quarterly dividend.
Thank you for your continued support and trust.
Sincerely,
Alton B. Lewis
President/CEO
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.