Gold bars to be exempt from tariffs, White House clarifies
HAMMOND, LA—Edgar R. Smith III, a director at First Guaranty Bancshares, Inc. (NASDAQ:FGBI), has made a significant purchase of the company’s common stock. According to a recent SEC filing, Smith acquired 98,460 shares at a price of $8.47 per share, totaling approximately $833,956. The purchase comes as the stock trades at $7.73, down roughly 27% over the past six months. InvestingPro analysis indicates the stock is currently trading below its Fair Value.
The transaction, dated April 2, 2025, reflects Smith’s indirect acquisition of shares through Smith & Tate Investments, LLC. Following this acquisition, Smith’s holdings, both direct and indirect, include a substantial amount of First Guaranty Bancshares stock, with shares held through various investment entities.
Investors may note that Smith’s purchase adds to his extensive portfolio, which includes shares held directly and through multiple LLCs, such as Smith & Hood Investments, LLC, and Big 4 Investments, LLC. This acquisition is part of a broader pattern of investment in First Guaranty Bancshares, a federally chartered savings institution based in Hammond, Louisiana.
In other recent news, First Guaranty Bancshares has declared a quarterly cash dividend for holders of its depositary shares, each representing a 1/40th interest in its 6.75% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock. The dividend is set at $0.421875 per depositary share, translating to $16.875 per share on the underlying Series A Preferred Stock. Shareholders on record as of February 14, 2025, will receive the dividend on March 3, 2025. In another development, First Guaranty Bancshares has announced the election of Robert W. Walker to its Board of Directors. Mr. Walker, who previously served as President and CEO of Premier Financial Bancorp, Inc. until its sale in 2021, joins the board with extensive leadership experience. The company has not disclosed any immediate plans for Mr. Walker to serve on board committees. These developments are part of First Guaranty Bancshares’ ongoing efforts to evolve its leadership and financial strategies.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.