First Guaranty Bancshares, Inc. Announces Resignation of Glenda Glover from Board of Directors
January 05, 2018 at 03:22 am IST
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First Guaranty Bancshares, Inc. announced that Dr. Glenda Glover has served on the board of two depository organizations. Pursuant to 12 C.F.R Section 212.3(c), a management official may not serve at the same time on two depository organization boards if one institution is greater than $2.5 billion in total assets and the other institution is greater than $1.5 billion in total assets. This rule became applicable to Dr. Glover due to First Guaranty Bancshares, Inc.'s growth above $1.5 billion in total assets. On December 28, 2017, Director Glenda Glover advised First Guaranty that she is resigning from First Guaranty's Board of Directors effective December 31, 2017.
First Guaranty Bancshares, Inc. is the holding company for First Guaranty Bank (the Bank). The Bank offers a range of financial services and focuses on building client relationships and providing customer service. The Bank operates about 36 locations throughout Louisiana, Texas, Kentucky, and West Virginia. The Banks principal business consists of attracting deposits from the general public and local municipalities in its market areas and then investing those deposits. The Bank also generates funds from operations, borrowings in lending and investing in securities. The Bank serves the credit needs of its customer base, including commercial real estate loans, commercial and industrial loans, commercial leases, and others. The Bank offers a variety of deposit accounts to consumers, small businesses, and municipalities, including personal and business checking and savings accounts, time deposits and money market accounts. In addition, the Bank offers a range of consumer services.