FIRST GUARANTY BANCSHARES, INC. At A Glance | Bank Officers |
Branches ATMs
33 48
Total Assets Deposits
$2.1 Billion $1.9Billion
Total Loans
$1.5 Billion
$4.0 Million
4Q2019 Earnings (unaudited)
$14.2 Million
YTD2019 Earnings (unaudited)
and | 85 |
106counting | |
Consecutive | Years in |
dividends paid | Banking |
+
Executive Officers
Alton B. Lewis, Jr.*
President and CEO | Guaranty Square
Eric J. Dosch*
Chief Financial Officer | Guaranty Square
Senior Vice Presidents
Thomas F. Brothers
Director of Internal Audit
Glenn A. Duhon, Sr.
Regional Manager | Abbeville
Ronnie R. Foshee
Regional Manager | Denham Springs
Adam J. Johnston
Regional Manager | North Lousiana
Mikki M. Kelley
Human Resouce Department Manager
Jordan M. Lewis
Texas Area President
Brandon C. Long
Chief Lending Officer
Ronnie C. Pittman
Special Assets Manager
Desiree B. Simmons
Loan Administration, Marketing & Training
Evan M. Singer
Regional Manager
Director of Mergers & Acquisitions
J. Richard Stark
Operations
Randy S. Vicknair
Chief Credit Officer
Christy L. Wells
Regional Manager | Hammond
Vice Presidents
Charles L. Baggs
Ashley N. Bell
Betty A. Boney
Brenda A. Briscoe
Cheryl Q. Brumfield
Scheila M. Davis
Mark J. Ducoing
Vikki W. Dupaquier
Colleen B. Ebarb
Ronald W. Edmonds
Denise D. Fletcher
Eric M. Fuller, Controller
Shirley P. Jones
Vice Presidents
JoEllen K. Juhasz, BSA Officer Michael D. Knighten
Terrie E. McCartney
Craig E. Scelfo
Scott B. Schilling
Lisa K. Stoker
John A. Synco
D. Lynn Talley
Michael A. Wiggins
Assistant Vice Presidents
Darryl P. Boudreaux
Lauryn H. Coburn
Lance S. Davis
Landa G. Domangue
Vanessa R. Drew
Kevin J. Foster
Christy L. Frierson
Harrison R. Gill
Bonnie J. Griener
Ludrick P. Hildago
Leslie A. Hinzman
Donna S. Hodges
A. Shane Hughes
Keith T. Klein
Mandy P. Lee
Dev M. Patel
Rahul R. Patel, Lending Officer Tracy D. Perry
Niekitsha S. Ridley
Robert W. Clifton, ISO
Officers
Rebecca G. Brown
Jeannette N. Ernst
V. Diane Patterson
Kristin M. Williams
PRESORTED FIRST-CLASS MAIL U.S. POSTAGE PAID BATON ROUGE, LA PERMIT NO. 984
2019
4thQuarter
Report
FIRST GUARANTY BANCSHARES, INC.
Member FDIC
*Officers of First Guaranty Bancshares, Inc. and First Guaranty Bank
fgb.net
A Message to Our Shareholders | Consolidated Statements of Condition | Consolidated Statements of Income | Consolidated Statements of Income |
(in thousands, except share data) | (in thousands, except share, per share data & percentages) | (in thousands, except share, per share data & percentages) | |
Dear Shareholders,
What a quarter!
Earnings for the 4th quarter of 2019 were over 50% greater than earnings for the fourth quarter of 2018.
Our assets went over $2 billion ($2,117,048,000) with the Union Bank acquisition.
We declared and awarded a 10% stock dividend.
We completed and opened our new Amite branch office.
We successfully implemented the commercial loan segment of our nCino platform resulting in much better customer service.
Under the direction of Brandon Long, our Lending team closed out the year on a very strong note achieving our goals for the year.
Our Texas branches have exceeded our expectations.
On December 31, 2019, we paid our 106th consecutive quarterly dividend to our shareholders.
The fourth quarter of 2019 showed great progress toward our goal of building a fortress balance sheet. Now, on to 2020. We are working to make 2020 the best, the most successful, the most exciting year in the long history of First Guaranty Bank.
Thank you for your support. We continue toward our goals of improving our customer services, growing First Guaranty Bancshares, Inc., and enhancing value for our shareholders.
Sincerely,
Alton B. Lewis
Chief Executive Officer/President
First Guaranty Bancshares, Inc.
December 31, | |||||||||||
2019 | 2018 | ||||||||||
(unaudited) | |||||||||||
Assets | |||||||||||
Cash and cash equivalents: | $66,511 | $127,416 | |||||||||
Cash and due from banks | |||||||||||
Federal funds sold | 914 | 549 | |||||||||
Cash and cash equivalents | 67,425 | 127,965 | |||||||||
Investment securities: | |||||||||||
Available for sale, at fair value | 340,434 | 296,977 | |||||||||
Held to maturity, at cost | 86,579 | 108,326 | |||||||||
(estimated fair value of $86,817 and $104,840 | |||||||||||
respectively) | |||||||||||
Investment securities | 427,013 | 405,303 | |||||||||
Federal Home Loan Bank stock, at cost | 3,308 | 2,393 | |||||||||
Loans held for sale | - | 344 | |||||||||
Loans, net of unearned income | 1,525,490 | 1,225,268 | |||||||||
Less: allowance for loan losses | 10,929 | 10,776 | |||||||||
1,514,561 | 1,214,492 | ||||||||||
Net loans | |||||||||||
Premises and equipment, net | 55,667 | 39,695 | |||||||||
Goodwill | 13,571 | 3,472 | |||||||||
Intangible assets, net | 7,166 | 3,528 | |||||||||
Other real estate, net | 4,879 | 1,138 | |||||||||
Accrued interest receivable | 8,412 | 6,716 | |||||||||
Other assets | 15,046 | 12,165 | |||||||||
Total Assets | $2,117,048 | $1,817,211 | |||||||||
Liabilities and Shareholders' Equity | |||||||||||
Deposits: | |||||||||||
Noninterest-bearing demand | $325,888 | $244,516 | |||||||||
Interest-bearing demand | 635,942 | 594,359 | |||||||||
Savings | 135,156 | 109,958 | |||||||||
Time | 756,027 | 680,789 | |||||||||
Total deposits | 1,853,013 | 1,629,622 | |||||||||
Short-term advances from Federal Home Loan Bank | 13,079 | - | |||||||||
Repurchase agreements | 6,840 | - | |||||||||
Accrued interest payable | 6,047 | 3,952 | |||||||||
Long-term advances from Federal Home Loan Bank | 3,533 | - | |||||||||
Senior long-term debt | 48,558 | 19,838 | |||||||||
Junior subordinated debentures | 14,737 | 14,700 | |||||||||
Other liabilities | 5,206 | 1,815 | |||||||||
Total Liabilities | 1,951,013 | 1,669,927 | |||||||||
Shareholders' Equity | |||||||||||
Common stock1: | |||||||||||
$1 par value - authorized 100,600,000 shares; | 9,741 | 9,687 | |||||||||
issued 9,741,253 and 9,687,123 shares | |||||||||||
Surplus | 110,836 | 109,788 | |||||||||
Retained earnings | 43,283 | 34,947 | |||||||||
Accumulated other comprehensive income (loss) | 2,175 | (7,138) | |||||||||
Total Shareholders' Equity | 166,035 | 147,284 | |||||||||
Total Liabilities and | $2,117,048 | $1,817,211 | |||||||||
Shareholders' Equity | |||||||||||
Interest Income: Loans (including fees) Deposits with other banks Securities (including FHLB stock) Federal funds sold
Total Interest Income
Interest Expense:
Demand deposits
Savings deposits
Time deposits
Borrowings
Total Interest Expense
Net Interest Income
Less: Provision for loan losses
Net Interest Income after
Provision for Loan Losses
Noninterest Income:
Service charges, commissions and fees ATM and debit card fees
Net gains (losses) on securities Net gains on sale of loans Other
Total Noninterest Income
Noninterest Expense:
Salaries and employee benefits
Occupancy and equipment expense
Other
Total Noninterest Expense
Income Before Income Taxes Less: Provision for income taxes
Net Income
Per Common Share1:
Earnings
Cash dividends paid
Weighted Average
Common Shares Outstanding
Return on Average Assets
Return on Average Common Equity
For the
Three-Month
Periods Ended
December 31,
2019 | 2018 | |||||
(unaudited) | ||||||
$21,221 | $17,186 | Interest Income: | ||||
Loans (including fees) | ||||||
495 | 338 | Deposits with other banks | ||||
2,419 | 3,175 | Securities (including FHLB stock) | ||||
- | - | Federal funds sold | ||||
24,135 | 20,699 | Total Interest Income | ||||
2,301 | 2,258 | Interest Expense: | ||||
Demand deposits | ||||||
120 | 126 | Savings deposits | ||||
4,420 | 3,399 | Time deposits | ||||
625 | 422 | Borrowings | ||||
7,466 | 6,205 | Total Interest Expense | ||||
16,669 | 14,494 | Net Interest Income |
712 786 Less: Provision for loan losses
Net Interest Income after
Provision for Loan Losses | ||||
15,957 | 13,708 | |||
Noninterest Income: | ||||
880 | 726 | Service charges, commissions and fees | ||
568 | 550 | ATM and debit card fees | ||
230 | (928) | Net gains (losses) on securities | ||
5 | 102 | Net gains on sale of loans | ||
490 | 285 | Other | ||
2,173 | 735 | Total Noninterest Income | ||
6,899 | Noninterest Expense: | |||
5,909 | Salaries and employee benefits | |||
1,658 | 1,493 | Occupancy and equipment expense | ||
4,522 | 3,833 | Other | ||
13,079 | 11,235 | Total Noninterest Expense | ||
5,051 | 3,208 | Income Before Income Taxes | ||
1,002 | 590 | Less: Provision for income taxes | ||
$4,049 | $ 2,618 | Net Income | ||
Per Common Share1: | ||||
$0.42 | $0.27 | Earnings | ||
Cash dividends paid | ||||
$0.16 | $0.15 | |||
Book Value Per Common Share | ||||
9,718,895 | 9,687,123 | Weighted Average | ||
Common Shares Outstanding | ||||
Return on Average Assets | ||||
0.81% | 0.60% | |||
Return on Average Common Equity | ||||
9.79% | 7.24% | |||
For the
Years Ended
December 31,
2019 2018
(unaudited)
$78,886 $64,836
2,956 612
9,800 12,941
11
91,643 78,390
10,447 8,531
527 407
17,141 10,690
1,851 1,738
29,966 21,366
61,677 57,024
4,860 1,354
56,817 55,670
2,808 2,988
2,254 2,122
- (1,830)
1,376 278
2,018 1,722
8,299 5,280
25,019 22,888
6,096 5,601
16,104 14,786
47,219 43,275
17,897 17,675
3,656 3,462
$14,241 $14,213
$1.47 $1.47
$0.60 $0.58
$17.04 $15.20
9,695,131 9,687,123
0.76% 0.82%
8.99% 9.98%
1 All share amounts have been restated to reflect the ten percent stock dividend paid December 16, 2019 to shareholders of record as of December 9, 2019
1 All share amounts have been restated to reflect the ten percent stock dividend paid December 16, 2019 to shareholders of record as of December 9, 2019
1 All share amounts have been restated to reflect the ten percent stock dividend paid December 16, 2019 to shareholders of record as of December 9, 2019
NASDAQ Symbol: FGBI | We're Social: | Have Questions? | Vanessa Drew | InvestorRelations@fgb.net |
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First Guaranty Bancshares Inc. published this content on 07 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 February 2020 22:52:00 UTC
