First Guaranty plans to sell 713,044 common shares via public offering

Bookrunner Sandler O’Neill + Partners will assist

By Devika Patel

Knoxville, Tenn., Oct. 19 – First Guaranty Bancshares, Inc. will sell 713,044 common shares in a public offering with a 30-day greenshoe of additional shares, according to a Form S-1 filed Monday with the Securities and Exchange Commission. The company has registered up to $21.73 million of stock.

The shares will be sold at a price expected to fall between $19.00 and $21.00 per share.

Sandler O’Neill + Partners, LP is the bookrunner.

Proceeds will be used for loan portfolio growth, potential acquisitions, other general corporate purposes or to redeem some of the company’s preferred stock held by the U.S. Department of the Treasury.

The bank holding company is based in Hammond, La. Proceeds will be used to support the bank's growth.

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