First Guaranty reports net income of $27.3 million for the

HAMMOND, La., Jan. 26, 2022 (GLOBE NEWSWIRE) — First Guaranty Bancshares, Inc. (“First Guaranty”) (NASDAQ: FGBI), the holding company of First Guaranty Bank, announced its unaudited financial results for the quarter and year ending December 31, 2021.

In the fourth quarter of 2021, First Guaranty Bancshares, Inc. continued eight consecutive quarters of strong earnings and outstanding performance. With net income for the quarter of $8,049,000 ($7,467,000 after payment of preferred stock dividends), First Guaranty Bancshares, Inc.’s earnings for the year 2021 totaled $27,297,000, 25,913,000 $ after payment of preferred stock dividends. Fourth quarter net income was a 31% increase over the fourth quarter of 2020 and a 34% increase for full year 2021 over full year 2020. These strong results are the result of an increase in 11% of total interest income from year to year. combined with a decrease in total interest expense of approximately 14%.

Asset quality has also increased significantly, with the Texas ratio declining to 6.56% as of December 31, 2021, from 11.65% as of December 31, 2020.

The loan portfolio ended the year at $2,159,359,000 compared to $1,844,135,000 as of December 31, 2020. This represents a year-over-year increase in the loan portfolio of 17%.

Total equity ended the year at $223,889,000 compared to $178,591,000 as of December 31, 2020.

On December 31, 2021, First Guaranty Bancshares, Inc. paid its shareholders the 114th consecutive quarterly cash dividend. This cash dividend follows a 10% stock dividend that was awarded to all shareholders of First Guaranty Bancshares, Inc on December 17, 2021. The result was a strong cash dividend and improved value for First Guaranty Bancshares, Inc.

As 2021 brought great financial benefits to shareholders of First Guaranty Bancshares, Inc., we continued to build and strengthen our banking system. In Q4 2021, we secured and established loan production and deposit production offices in Vanceburg, Kentucky and Bridgeport, West Virginia. The addition of strong management and credit teams in these areas in November 2021 has resulted in immediate loan production and loan income in these areas. As of December 31, 2021, First Guaranty Bancshares, Inc. had $64,000,000 of loans, from the new areas, booked and earning interest. An additional amount of $81,000,000 is in preparation, approved or in the process of being approved.

We continue to explore new opportunities to develop and expand our Texas branch business. With a strong loan pipeline, additional interest expense reduction opportunities, and improvements in our processes and procedures, we expect the success of First Guaranty Bancshares, Inc. to continue and grow. The quality of our efforts has been recognized by Newsweek and Lending Tree as we were named America’s Best Small Bank for 2022, continuing the same title in 2021. We will continue to build a strong, fortified balance sheet and we will continue to build shareholder value.

Thank you for your continued support.

Truly,

Alton B. Lewis

President and CEO

First Guarantee, Bancshares, Inc.

About the first warranty

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

Certain statements contained herein are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may be identified by reference to one or more future periods, or by the use of forward-looking terminology, such as “may”, “shall”, “believe”, “expect”, “estimate”, “anticipate”, “continue” or similar terms or variations of these terms, or the negative of these terms. Forward-looking statements are subject to numerous risks and uncertainties, as described in our filings with the SEC, including, but not limited to, those relating to the real estate and economic environment, particularly in the areas of market in which First Guaranty operates, competitive products and prices. , U.S. government fiscal and monetary policies, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and integration of acquired businesses, credit risk management, asset-liability management, financial condition and securities markets and the availability and costs associated with sources of liquidity.

First Guaranty cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. First Guaranty wishes to advise readers that the factors listed above could affect First Guaranty’s financial performance and could cause First Guaranty’s actual results for future periods to differ materially from the opinions or statements expressed with respect to future periods in the current statements. First Guaranty does not undertake and specifically disclaims any obligation to publish the results of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated events. or unforeseen.

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Contact information: CONTACT: ERIC J. DOSCH, Chief Financial Officer 985.375.0308

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