First Guaranty Bancshares to sell perpetual preferred stock

By Rebecca Melvin

Concord, N.H., April 21 – First Guaranty Bancshares Inc. is offering shares of $25-par series A non-cumulative perpetual preferred stock, according to a 424B5 filing with the Securities and Exchange Commission.

The preferreds are callable after five years in whole or in part at par plus accrued and unpaid dividends. They are also callable in whole or in part within 90 days of a regulatory capital treatment event.

Janney Montgomery Scott LLC is the bookrunning manager of the offering, for which proceeds will be used for general corporate purposes, including working capital and organic growth or potential acquisitions.

The preferreds are expected to be listed on the Nasdaq Global Market under the symbol “FGBIP.”

The commercial bank is based in Hammond, La.

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