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HAMMOND, LA – First Guaranty Bancshares, Inc. (NASDAQ:FGBI), a federally chartered savings institution, announced the election of Mr. Robert W. Walker to its Board of Directors and that of First Guaranty Bank as of March 20, 2025. Mr. Walker, who previously led Premier Financial Bancorp, Inc. as President and CEO until its sale in 2021, brings extensive experience to the board. The appointment comes as the company’s stock trades at $7.66, down over 28% in the past six months, according to InvestingPro data, suggesting potential value opportunity for investors.
The appointment was confirmed in a Form 8-K filing with the Securities and Exchange Commission (SEC) on Thursday, indicating no immediate plans for Mr. Walker to serve on any board committees. The filing also clarified that Mr. Walker is not involved in any transactions with First Guaranty Bancshares or First Guaranty Bank that would necessitate disclosure under SEC regulations. InvestingPro analysis shows the bank maintains strong fundamentals with a P/E ratio of 9.46 and has consistently paid dividends for 20 consecutive years.
First Guaranty Bancshares, headquartered in Hammond, Louisiana, has not disclosed further details regarding the strategic implications of Mr. Walker’s appointment. The company’s shares are traded on The Nasdaq Stock Market LLC under the ticker FGBI, with its depositary shares, each representing a 1/40th interest in a share of 6.75% Series A Fixed-Rate Non-Cumulative perpetual preferred stock, listed as FGBIP.
Investors and stakeholders in First Guaranty Bancshares may follow this development with interest as the company continues to evolve its leadership team. This announcement is based on a press release statement and provides a factual account of the company’s board changes without speculating on potential impacts or future board committee assignments.
In other recent news, First Guaranty Bancshares announced a quarterly cash dividend for its depositary shares. Each depositary share represents 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 a $16.875 per share dividend on the underlying Series A Preferred Stock. Shareholders who are on record by February 14, 2025, will be eligible to receive the dividend, which is scheduled for payment on March 3, 2025. This announcement was made in accordance with the Securities Exchange Act of 1934. The company’s Chief Financial Officer, Eric J. Dosch, confirmed the details in a press release. These developments reflect First Guaranty Bancshares’ ongoing financial activities and commitments to its shareholders.
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