First Guaranty Bancshares, Inc. Declares 124th Consecutive Quarterly Cash Dividend to Shareholders
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First Guaranty Bancshares, Inc. Announces Third Quarter 2024 Financial Results
Financial Performance: First Guaranty Bancshares reported a total asset increase to $3.9 billion and net income growth of 44.5% for the nine months ending September 30, 2024, compared to the same period in 2023.
Loan and Credit Losses: The company experienced an increase in nonaccrual loans, primarily due to one commercial real estate relationship, while also reporting significant charge-offs and a rise in the provision for credit losses during the third quarter of 2024.
First Guaranty Bancshares, Inc. Announces Key Developments and Second Quarter 2024 Financial Results
Business Strategy Changes: First Guaranty Bancshares is implementing a new business strategy that includes slowing asset growth, enhancing capital position, and reducing staff by 15%, resulting in an anticipated annual noninterest expense reduction of approximately $12 million.
Financial Performance: For the second quarter of 2024, First Guaranty reported a net income of $7.2 million, a significant increase from $2.7 million in the same period last year, alongside a rise in total assets to $3.6 billion and total loans to $2.8 billion.
First Guaranty Bancshares, Inc. Declares 124th Consecutive Quarterly Cash Dividend to Shareholders
First Guaranty Bancshares, Inc. Appoints Mineer as President and CEO
First Guaranty Bancshares, Inc Announces CEO Retirement
- Alton Lewis Retirement: Alton Lewis is retiring as President and CEO of First Guaranty Bancshares, Inc. and First Guaranty Bank after a successful tenure spanning over three decades.
- Achievements Under Lewis: Under Lewis's leadership, First Guaranty grew from a $931 million institution to a $3.6 billion entity. He also coordinated the IPO of the First Guaranty stock in 2015 and successfully navigated the bank through the COVID pandemic.
- Continued Involvement: Alton Lewis will remain involved as Vice Chairman of the Holding Company and Bank Board of Directors.
- Successor Announcement: Michael Mineer will take over as the new President and CEO of First Guaranty Bancshares, Inc. and First Guaranty Bank, bringing over 35 years of banking experience.
- About First Guaranty Bancshares, Inc.: First Guaranty Bancshares, Inc. is the holding company for First Guaranty Bank, offering financial services across several states and focusing on client relationships and customer service.
Exploring Three Prominent Dividend Stocks In The United States
First Guaranty Bancshares, Inc. Announces Third Quarter 2024 Financial Results
Financial Performance: First Guaranty Bancshares reported a total asset increase to $3.9 billion and net income growth of 44.5% for the nine months ending September 30, 2024, compared to the same period in 2023.
Loan and Credit Losses: The company experienced an increase in nonaccrual loans, primarily due to one commercial real estate relationship, while also reporting significant charge-offs and a rise in the provision for credit losses during the third quarter of 2024.
First Guaranty Bancshares, Inc. Announces Key Developments and Second Quarter 2024 Financial Results
Business Strategy Changes: First Guaranty Bancshares is implementing a new business strategy that includes slowing asset growth, enhancing capital position, and reducing staff by 15%, resulting in an anticipated annual noninterest expense reduction of approximately $12 million.
Financial Performance: For the second quarter of 2024, First Guaranty reported a net income of $7.2 million, a significant increase from $2.7 million in the same period last year, alongside a rise in total assets to $3.6 billion and total loans to $2.8 billion.
First Guaranty Bancshares, Inc. Declares 124th Consecutive Quarterly Cash Dividend to Shareholders
First Guaranty Bancshares, Inc. Appoints Mineer as President and CEO
First Guaranty Bancshares, Inc Announces CEO Retirement
- Alton Lewis Retirement: Alton Lewis is retiring as President and CEO of First Guaranty Bancshares, Inc. and First Guaranty Bank after a successful tenure spanning over three decades.
- Achievements Under Lewis: Under Lewis's leadership, First Guaranty grew from a $931 million institution to a $3.6 billion entity. He also coordinated the IPO of the First Guaranty stock in 2015 and successfully navigated the bank through the COVID pandemic.
- Continued Involvement: Alton Lewis will remain involved as Vice Chairman of the Holding Company and Bank Board of Directors.
- Successor Announcement: Michael Mineer will take over as the new President and CEO of First Guaranty Bancshares, Inc. and First Guaranty Bank, bringing over 35 years of banking experience.
- About First Guaranty Bancshares, Inc.: First Guaranty Bancshares, Inc. is the holding company for First Guaranty Bank, offering financial services across several states and focusing on client relationships and customer service.
Exploring Three Prominent Dividend Stocks In The United States
