Tearsheet

First Guaranty Bancshares (FGBI)

Market Price (6/15/2026): $10.65 | Market Cap: $168.2 MilSector: Financials | Industry: Regional Banks

First Guaranty Bancshares (FGBI)

Market Price (6/15/2026): $10.65
Market Cap: $168.2 Mil
Sector: Financials
Industry: Regional Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -826%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 40%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 38%

Attractive yield
FCF Yield is 21%

Trading close to highs
Dist 52W High is 0.0%

Weak multi-year price returns
2Y Excs Rtn is -33%, 3Y Excs Rtn is -91%

Stock price has recently run up significantly
6M Rtn6 month market price return is 124%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -18%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.6%, Rev Chg QQuarterly Revenue Change % is -7.0%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 108%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -32%

Key risks
FGBI key risks include [1] surging nonperforming assets and deteriorating credit quality, Show more.

0	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -826%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 40%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 38%
2	Attractive yield FCF Yield is 21%
3	Trading close to highs Dist 52W High is 0.0%
4	Weak multi-year price returns 2Y Excs Rtn is -33%, 3Y Excs Rtn is -91%
5	Stock price has recently run up significantly 6M Rtn6 month market price return is 124%
6	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -18%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.6%, Rev Chg QQuarterly Revenue Change % is -7.0%
7	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 108%
8	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -32%
9	Key risks FGBI key risks include [1] surging nonperforming assets and deteriorating credit quality, Show more.

Valuation & Metrics

FYE: 12/31	Forward FYE		Now	Historical (CYE & TTM)
	2027	2026	6/15/26	2025	2024	2023	2022
Share Price			$10.65	$5.37	$11.36	$11.12	$23.45
Mkt Cap ($ Mil)			168.2	82.6	142.1	128.9	251.3
+ Debt ($ Mil)			179.0	179.0	194.9	269.1	176.9
- Cash ($ Mil)			733.5	845.4	564.0	286.1	82.8
TEV ($ Mil)			-386.2	261.6	337.0	398.0	428.2
Valuation Ratios
P/S	2.0	2.0	1.8	0.9	1.3	1.4	2.3
P/EBIT	31.3	31.5	-	-	-	-	-
P/E	18.5	30.1	-3.6	-1.5	11.4	14.0	8.7
P/FCF	—	—	4.8	-8.3	4.7	19.1	7.3
Sector Ratios (* = sector average)
P/S *			3.3	3.1	3.1	2.8	2.8
P/EBIT *			6.9	7.5	8.3	7.3	7.2
P/E *			11.8	11.0	11.6	10.1	9.4
P/FCF *			9.0	9.0	9.2	8.0	6.6

FYE: 12/31	Forward FYE		Now
	2027	2026	6/15/26
Share Price			$10.65
Mkt Cap ($ Mil)			168.2
+ Debt ($ Mil)			179.0
- Cash ($ Mil)			733.5
TEV ($ Mil)			-386.2
Valuation Ratios
P/S	2.0	2.0	1.8
P/EBIT	31.3	31.5	-
P/E	18.5	30.1	-3.6
P/FCF	—	—	4.8
Sector Ratios (* = sector average)
P/S *			3.3
P/EBIT *			6.9
P/E *			11.8
P/FCF *			9.0

FYE: 12/31	FGBI [1]	S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]	$92.1 Mil	—
FY 2026 Sales	$85.7 Mil	—
FY 2027 Sales	$86.1 Mil	—
FY 2026 Sales Growth	-6.9%	—
FY 2027 Sales Growth	0.5%	7.8%
EARNINGS
LTM Net Income (GAAP) [3]	$-47.1 Mil	—
FY 2026 Net Income (Non-GAAP)	$5.6 Mil	—
FY 2027 Net Income (Non-GAAP)	$9.1 Mil	—
FY 2027 Net Income Growth	62.5%	14.6%
FY 2026 EPS (Non-GAAP)	$0.40	—
FY 2027 EPS (Non-GAAP)	$0.65	—
FY 2027 EPS Growth	62.5%	—
VALUATION
FY 2026 P/S	2.0	3.3
FY 2027 P/S	2.0	—
FY 2026 P/E	30.1	20.4
FY 2027 P/E	18.5	—

[1] FGBI forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 6/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).

	FGBI	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	0.1
Rev Chg Q	-7.0%	8.8%
Rev Chg LTM	-17.8%	7.4%
Rev Chg 3Y Avg	-3.6%	5.8%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	�
CFO LTM ($ Bil)	0.0
Net Inc LTM ($ Bil)	-0.0
CFO/Rev LTM	40.1%	21.3%
Net Inc Mgn	-51.2%	13.0%
VALUATION	LOW
P/S	1.8	3.3
P/CFO	4.6	15.2
P/FCF	4.8	19.7
P/E	-3.6	24.2

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Metric	Value	Date	Source
Number of full-time equivalent employees	339	9302025	Link
Number of branches	35	11072025	Link

Price Chart

Upcoming
6/26/2026	Dividend	Amount: $0.01 Payment On: 6/30/2026
8/17/2026	Earnings Release	Rev: $21 Mil (E) EPS: $0.09 (E)

Why The Stock Moved

Qualitative Assessment

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Updated on 6/11/2026

First Guaranty Bancshares (FGBI) stock has gained about 20% since 2/28/2026 because of the following key factors:

1. Strong Earnings Performance in Fiscal Q1 2026. First Guaranty Bancshares reported diluted earnings per share (EPS) of $0.14 for fiscal Q1 2026 (ended March 31, 2026), significantly exceeding analyst estimates of $0.07 by 100%. This represented a substantial increase from a net loss of $(6.2) million in the prior year's comparable quarter to a net income of $2.7 million in fiscal Q1 2026.

2. Marked Operational Improvements and Capital Strengthening. The company demonstrated significant progress in reducing non-performing assets, which decreased by $12.0 million. Concurrently, First Guaranty Bancshares strengthened its bank risk-weighted capital ratio by 123 basis points, reaching 14.71% as of March 31, 2026, up from 13.48% at December 31, 2025. These efforts contributed to improved financial stability.

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Stock Movement Drivers

Fundamental Drivers

The 21.1% change in FGBI stock from 2/28/2026 to 6/14/2026 was primarily driven by a 32.6% change in the company's P/S Multiple.

(LTM values as of)	2282026	6142026	Change
Stock Price ($)	8.80	10.66	21.1%
Change Contribution By:
Total Revenues ($ Mil)	96	92	-4.6%
P/S Multiple	1.4	1.8	32.6%
Shares Outstanding (Mil)	15	16	-4.3%
Cumulative Contribution			21.1%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/14/2026

	Return	Correlation
FGBI	21.1%
Market (SPY)	8.4%	15.5%
Sector (XLF)	4.2%	6.8%

Fundamental Drivers

The 123.3% change in FGBI stock from 11/30/2025 to 6/14/2026 was primarily driven by a 144.4% change in the company's P/S Multiple.

(LTM values as of)	11302025	6142026	Change
Stock Price ($)	4.77	10.66	123.3%
Change Contribution By:
Total Revenues ($ Mil)	96	92	-4.6%
P/S Multiple	0.7	1.8	144.4%
Shares Outstanding (Mil)	15	16	-4.3%
Cumulative Contribution			123.3%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/14/2026

	Return	Correlation
FGBI	123.3%
Market (SPY)	9.2%	16.1%
Sector (XLF)	0.9%	21.6%

Fundamental Drivers

The 21.1% change in FGBI stock from 5/31/2025 to 6/14/2026 was primarily driven by a 86.0% change in the company's P/S Multiple.

(LTM values as of)	5312025	6142026	Change
Stock Price ($)	8.80	10.66	21.1%
Change Contribution By:
Total Revenues ($ Mil)	112	92	-17.8%
P/S Multiple	1.0	1.8	86.0%
Shares Outstanding (Mil)	13	16	-20.8%
Cumulative Contribution			21.1%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/14/2026

	Return	Correlation
FGBI	21.1%
Market (SPY)	27.3%	21.8%
Sector (XLF)	6.3%	24.9%

Fundamental Drivers

The -11.7% change in FGBI stock from 5/31/2023 to 6/14/2026 was primarily driven by a -32.2% change in the company's Shares Outstanding (Mil).

(LTM values as of)	5312023	6142026	Change
Stock Price ($)	12.08	10.66	-11.7%
Change Contribution By:
Total Revenues ($ Mil)	107	92	-14.3%
P/S Multiple	1.2	1.8	51.8%
Shares Outstanding (Mil)	11	16	-32.2%
Cumulative Contribution			-11.7%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/14/2026

	Return	Correlation
FGBI	-11.7%
Market (SPY)	84.5%	16.4%
Sector (XLF)	76.3%	21.0%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
FGBI Return	30%	18%	-50%	7%	-52%	98%	-23%
Peers Return	25%	-19%	22%	6%	42%	13%	108%
S&P 500 Return	27%	-19%	24%	23%	16%	8%	97%
Monthly Win Rates [3]
FGBI Win Rate	58%	58%	25%	50%	25%	83%
Peers Win Rate	42%	52%	53%	50%	67%	57%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
FGBI Max Drawdown	-15%	-28%	-60%	-31%	-61%	-16%
Peers Max Drawdown	-17%	-32%	-32%	-23%	-21%	-20%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: NEWT, ATLO, CBC, NU, FITB.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/12/2026 (YTD)

Event	FGBI	S&P 500
2025 US Tariff Shock
% Loss	-30.6%	-18.8%
% Gain to Breakeven	44.0%	23.1%
Time to Breakeven	34 days	79 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-24.8%	-9.5%
% Gain to Breakeven	32.9%	10.5%
Time to Breakeven	55 days	24 days
2020 COVID-19 Crash
% Loss	-39.2%	-33.7%
% Gain to Breakeven	64.3%	50.9%
Time to Breakeven	243 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-22.1%	-19.2%
% Gain to Breakeven	28.3%	23.8%
Time to Breakeven	405 days	105 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-10.7%	-12.2%
% Gain to Breakeven	12.0%	13.9%
Time to Breakeven	14 days	62 days
2014-2016 Oil Price Collapse
% Loss	-10.7%	-6.8%
% Gain to Breakeven	12.0%	7.3%
Time to Breakeven	14 days	15 days

Compare to NEWT, ATLO, CBC, NU, FITB

In The Past

First Guaranty Bancshares's stock fell -30.6% during the 2025 US Tariff Shock. Such a loss loss requires a 44.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	FGBI	S&P 500
2025 US Tariff Shock
% Loss	-30.6%	-18.8%
% Gain to Breakeven	44.0%	23.1%
Time to Breakeven	34 days	79 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-24.8%	-9.5%
% Gain to Breakeven	32.9%	10.5%
Time to Breakeven	55 days	24 days
2020 COVID-19 Crash
% Loss	-39.2%	-33.7%
% Gain to Breakeven	64.3%	50.9%
Time to Breakeven	243 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-22.1%	-19.2%
% Gain to Breakeven	28.3%	23.8%
Time to Breakeven	405 days	105 days

Compare to NEWT, ATLO, CBC, NU, FITB

In The Past

First Guaranty Bancshares's stock fell -30.6% during the 2025 US Tariff Shock. Such a loss loss requires a 44.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About First Guaranty Bancshares (FGBI)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

First Guaranty Bancshares, Inc. operates as the holding company for First Guaranty Bank that provides commercial banking services in Louisiana and Texas. It offers various deposit products, including personal and business checking, savings, money market, and demand accounts, as well as time deposits to consumers, small businesses, and municipalities. The company also provides loans, such as non-farm, non-residential loans secured by real estate, commercial and industrial loans, one- to four-family residential loans, multifamily loans, construction and land development loans, agricultural loans, farmland loans, and consumer and other loans to small to medium-sized businesses and professionals, and individuals. In addition, it offers a range of consumer services, including credit cards, mobile deposit capture, safe deposit boxes, official checks, online and mobile banking, automated teller machines, and online bill pay; provides additional solutions, such as merchant services, remote deposit capture, and lockbox services to business customers; and invests a portion of its assets in securities issued by the United States Government and its agencies, state and municipal obligations, corporate debt securities, mutual funds, and equity securities, as well as invests in mortgage-backed securities primarily issued or guaranteed by United States Government agencies or enterprises. The company operates through 36 banking facilities primarily located in market services areas of Hammond, Baton Rouge, Lafayette, Shreveport-Bossier City, Lake Charles, Alexandria, Dallas-Fort Worth-Arlington, Waco, Kentucky, and West Virginia. First Guaranty Bancshares, Inc. was founded in 1934 and is headquartered in Hammond, Louisiana.

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Here are a few brief analogies for First Guaranty Bancshares (FGBI):

FGBI is like Wells Fargo for the communities of Louisiana and Texas.
FGBI is similar to a smaller, more localized Truist Bank, serving businesses and individuals in its specific Southern and Appalachian markets.

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Deposit Accounts: Offers various accounts including checking, savings, money market, demand, and time deposits for individuals, businesses, and municipalities.
Real Estate Loans: Provides loans secured by diverse real estate types, such as residential, commercial, and agricultural properties, along with construction and land development financing.
Commercial & Industrial Loans: Lends to small and medium-sized businesses for operational needs and expansion.
Consumer Loans: Offers personal loans to individuals.
Credit Cards: Provides credit card solutions for consumers.
Safe Deposit Boxes: Offers secure storage for valuables.
Online & Mobile Banking: Provides digital platforms for convenient account management and transactions.
Business Services: Delivers specialized solutions for businesses, including merchant services, remote deposit capture, and lockbox services.

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First Guaranty Bancshares (FGBI), as a commercial bank, serves a diverse customer base rather than having a few "major customers" in the traditional sense. Its services are provided to a broad range of clients. Based on the company description, the primary categories of customers it serves are:

Individuals and Consumers: The bank offers personal checking, savings, money market, and demand accounts, as well as time deposits, one- to four-family residential loans, consumer loans, credit cards, mobile banking, and other personal financial services.
Small to Medium-sized Businesses and Professionals: This category includes clients utilizing business checking, time deposits, commercial and industrial loans, non-farm, non-residential loans, multifamily loans, construction and land development loans, agricultural loans, farmland loans, and business solutions such as merchant services and remote deposit capture.
Municipalities: The company also provides deposit products, including time deposits, to governmental entities.

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Michael Mineer, President and Chief Executive Officer

Michael Mineer was appointed President and CEO of First Guaranty Bancshares, Inc. and First Guaranty Bank in June 2024. He brings over 35 years of banking experience to his role. Previously, he served as President and CEO of Citizens Deposit Bank in Vanceburg, KY, from 2003, where he grew the company's assets from $89 million to $650 million. Additionally, Mineer was Senior Vice President of Premier Financial Bancorp in Huntington, WV, since 2013, where he re-engineered deposit and loan origination processes to be fully digital and virtual, helping the company grow from $500 million to $2.2 billion. He joined First Guaranty Bank as Mideast Area President in 2021.

Eric J. Dosch, Chief Financial Officer, Treasurer and Secretary

Eric J. Dosch has served as Chief Financial Officer of First Guaranty Bancshares and First Guaranty Bank since 2010. He has been with First Guaranty Bank since 2003, holding various positions in commercial lending and credit, including Chief Credit Officer. Prior to joining First Guaranty, Mr. Dosch worked as a financial analyst with Livingston & Jefferson, a private asset management firm. He is a CFA Charterholder and a graduate of The Graduate School of Banking at Louisiana State University, having earned his undergraduate degree from Duke University in 2001.

Marshall T. Reynolds, Chairman of the Board

Marshall T. Reynolds has served as Chairman of First Guaranty's Board of Directors since its inception in July 2007 and as Chairman of First Guaranty Bank's Board of Directors since May 1996. He has also been the Chairman of the Board of Champion Industries, Inc., a holding company for commercial printing and office products companies, since 1992, and served as its Chief Executive Officer from 1992 to 2016. Furthermore, he has been the President and general manager of The Harrah and Reynolds Corporation, the predecessor of Champion Industries, Inc., since 1964.

Alton Lewis, Vice Chairman of the Holding Company and Bank Board of Directors

Alton Lewis retired as President and Chief Executive Officer of First Guaranty Bancshares, Inc. and First Guaranty Bank in May 2024, but continues to serve as Vice Chairman of the Holding Company and Bank Board of Directors. He became President and CEO in 2009, having started as a Board member in 1988. Under his leadership, First Guaranty grew from a $931 million institution to $3.6 billion. Mr. Lewis was also instrumental in coordinating the Initial Public Offering (IPO) of First Guaranty stock (FGBI) in 2015. Prior to his executive roles at First Guaranty, he was a partner at the law firm of Cashe, Lewis, Coudrain & Sandage and its predecessor from 1980 to 2009.

Edgar R. Smith III, Independent Director

Edgar R. Smith III serves as an Independent Director at First Guaranty Bancshares, Inc. and First Guaranty Bank. His other roles include President of Big 4 Trucking, Inc. and Co-Owner of Smith & Hood Holding Co. LLC. Previously, he was the Chief Executive Officer of Smitty's Supply, Inc. from 1999 to 2012. He is also currently the Chairman, President & CEO at Latch Oil, Inc., and Chairman & CEO at Jaxon Energy LLC, Xeray Systems, Inc., and CAM2 International LLC.

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The key risks to First Guaranty Bancshares (FGBI) primarily stem from its loan portfolio quality, internal financial controls, and overall profitability.

Deteriorating Loan Portfolio Quality and Nonperforming Assets: First Guaranty Bancshares has experienced a significant increase in nonperforming assets (NPAs) and loan delinquencies, with NPAs surging to over 5% of gross loans. This deterioration is linked to substantial provisions for credit losses, including a large provision tied to a single bankrupt commercial lease exposure, and subsequent loan charge-offs. This has resulted in heavy credit costs and contributed to a substantial net loss in 2025. The issues with bad loans are expected to persist, requiring additional considerations for non-performing loans in the near future.
Material Weakness in Internal Control Over Financial Reporting: The company has identified a material weakness in its internal control over financial reporting. This issue could lead to potential SEC reporting failures, a loss of investor confidence, and risks to its Nasdaq listing status. While efforts are underway to address this, there is no guarantee of success, and the process may incur additional costs and strain management resources.
Profitability Deterioration and Net Interest Margin Compression: First Guaranty Bancshares has seen a sharp decline in profitability, reporting a significant net loss in 2025, a dramatic swing from profitability in the prior year. This is compounded by a compressed Net Interest Margin (NIM), which declined as asset yields fell faster than borrowing costs. This impacts the bank's primary revenue engine, Net Interest Income, which remained stable but was overshadowed by massive credit events.

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The clear emerging threat to First Guaranty Bancshares (FGBI) stems from the rise of digital-first financial technology (fintech) companies and challenger banks (neobanks). These entities leverage technology to offer banking services, including deposits, loans, and payment solutions, often with lower overheads, more competitive rates, and superior digital user experiences compared to traditional, branch-heavy banks like FGBI. They threaten FGBI's ability to attract and retain customers for both deposit products and various loan types (commercial, residential, consumer) by providing more convenient, often faster, and digitally native alternatives that appeal to a growing segment of consumers and businesses.

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First Guaranty Bancshares (FGBI) operates in Louisiana, Texas, Kentucky, and West Virginia. The addressable markets for its main products and services in these regions are as follows:

Louisiana

Deposit Products: The total deposits for banks operating branches in Louisiana was approximately $131 billion as of the second quarter of 2024.
Loan Products:
- New Home Loans booked in Louisiana totaled $7.2 billion in 2024.
- Small Business Loans in Louisiana amounted to $10 billion (based on a 2024 report).
- Small Farm Loans in Louisiana were $1.7 billion (based on a 2024 report).

Texas

Deposit Products: The Dallas-Fort Worth region of Texas, a key market for FGBI, had a cumulative total of $714.7 billion in bank deposits as of June 30, 2023.
Loan Products: A comprehensive addressable market size for all types of loans for all banks across the entire state of Texas is not readily available from the provided public data. While specific segments such as Small Business Administration (SBA) loans by community banks in Texas amounted to $34 billion from 2010-2025, a total market size for all loan products is not quantifiable from the available information.

Kentucky

Deposit Products: The total deposits for banks operating branches in Kentucky was approximately $116 billion as of the second quarter of 2024.
Loan Products:
- Total Loans for Kentucky banks amounted to $47.177 billion at the end of 2023.
- New Home Loans booked in Kentucky totaled $8.9 billion in 2024.
- Small Business Loans in Kentucky amounted to $7.2 billion (based on a 2024 report).
- Small Farm Loans in Kentucky were $471.6 million (based on a 2024 report).

West Virginia

Deposit Products: The total deposits for state banks in West Virginia was $29.812 billion as of December 31, 2023.
Loan Products: The total loans for state banks in West Virginia amounted to $56.971 billion as of December 31, 2023.

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First Guaranty Bancshares (FGBI) is anticipated to drive future revenue growth over the next two to three years through several key strategies focused on strengthening its core banking operations and leveraging its deposit base.

Here are 3-5 expected drivers of future revenue growth:

Strategic Growth in a De-Risked Loan Portfolio: Following a period of significant loan portfolio reduction aimed at mitigating risk, particularly in commercial real estate, First Guaranty Bancshares is expected to resume prudent loan growth in more stable and diversified segments. This strategic deployment of capital into a healthier loan portfolio will directly increase the bank's net interest income, which is its primary revenue source.
Effective Utilization of a Strong Deposit Base: The company has demonstrated robust deposit growth, including an 8.3% increase in the fourth quarter of 2025 and a 4.5% increase for the full year 2025. This expanding and stable deposit base provides substantial capital flexibility. As First Guaranty's financial health improves and its risk-reduction strategies are successfully executed, these deposits can be effectively utilized to fund new loan originations, directly contributing to revenue growth.
Improvement in Net Interest Margin (NIM): First Guaranty's net interest margin has been at six-year lows. A key driver of future revenue growth will be the improvement in NIM through optimized asset-liability management, a healthier loan mix, and a more favorable interest rate environment. An enhanced NIM will directly lead to a higher net interest income.
Expansion of Non-Interest Income through Enhanced Services and Technology: As the bank stabilizes and strengthens its balance sheet, there is an opportunity to grow non-interest income by enhancing its existing range of consumer and business services. These include credit cards, mobile deposit capture, online and mobile banking, merchant services, and remote deposit capture. Leveraging automation and technological advancements, as highlighted in its business strategy changes, can improve the efficiency and attractiveness of these offerings, leading to increased fee-based revenue.

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Share Issuance

In April 2021, First Guaranty Bancshares (FGBI) priced an underwritten public offering of 1,200,000 depositary shares, representing interests in its 6.75% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock. The offering was expected to generate gross proceeds of $30,000,000, or $34,500,000 if the underwriter's option to purchase additional shares was fully exercised. The net proceeds were intended for general corporate purposes, including working capital and funding organic growth or potential acquisitions.
In 2023, FGBI issued $20.0 million of common stock through two separate private placements.
As of Q3 2025, FGBI had 15 million shares outstanding, which represented an increase of 22.8% from the prior quarter.


Outbound Investments

In January 2023, First Guaranty Bancshares entered into a definitive agreement to acquire Lone Star Bank, a Texas state-chartered bank, through a merger, expanding FGBI's geographic footprint into the Greater Houston area and along the I-10 corridor.
In 2021, First Guaranty expanded its operations into Kentucky and West Virginia by establishing loan and deposit production offices, with the Vanceburg, Kentucky location subsequently becoming a full branch.
In March 2026, First Guaranty Bancshares announced an agreement to sell its Texas operations, including five branches, to Armstrong Bank, which will result in the transfer of approximately $270 million in deposits and $110 million in loans and FGBI's exit from the Texas market.


Capital Expenditures

First Guaranty's capital expenditures margin for the fiscal years ending December 2021 to 2025 averaged 4.8%, peaking at 16.2% in December 2023 and reaching a 5-year low of 0.0% in December 2025.
In Q3 2025, First Guaranty invested $688K in capital expenditures to fund long-term assets and infrastructure, marking a 152.0% increase from the preceding quarter.
The company has focused capital on the internal development of its lending department and upgrading its technology, including the adoption of the nCino loan platform and Q2 online banking products, to enhance efficiency for loan and deposit customers.

Interactive Breakdown

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Better Bets vs. First Guaranty Bancshares (FGBI)

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Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	With First Guaranty Bancshares Stock Surging, Have You Considered The Downside?	10/17/2025

	Title
0	ARTICLES

Trade Ideas

Select ideas related to FGBI.

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Peer Comparisons

Peers to compare with:

Financials

	FGBI	NEWT	ATLO	CBC	NU	FITB	Median
Name	First Gu.	NewtekOne	Ames Nat.	Central .	Nu	Fifth Th.
Mkt Price	10.66	14.00	30.39	28.79	12.19	54.73	21.39
Mkt Cap	0.2	0.4	0.3	345.9	59.2	45.2	22.8
Rev LTM	92	272	70	1,000	11,915	9,461	636
Op Inc LTM	-	-	-	-	-	-	-
FCF LTM	35	-776	22	457	868	1,437	246
FCF 3Y Avg	25	-348	17	-	1,712	2,583	25
CFO LTM	37	-776	23	491	1,201	2,175	264
CFO 3Y Avg	31	-348	19	-	1,952	3,140	31

Growth & Margins

	FGBI	NEWT	ATLO	CBC	NU	FITB	Median
Name	First Gu.	NewtekOne	Ames Nat.	Central .	Nu	Fifth Th.
Rev Chg LTM	-17.8%	10.5%	21.7%	-	39.5%	13.9%	13.9%
Rev Chg 3Y Avg	-3.6%	32.1%	5.4%	-	51.8%	3.9%	5.4%
Rev Chg Q	-7.0%	8.0%	17.8%	-	57.2%	30.3%	17.8%
QoQ Delta Rev Chg LTM	-1.8%	1.9%	4.1%	-	12.1%	7.3%	4.1%
Op Inc Chg LTM	-	-	-	-	-	-	-
Op Inc Chg 3Y Avg	-	-	-	-	-	-	-
Op Mgn LTM	-	-	-	-	-	-	-
Op Mgn 3Y Avg	-	-	-	-	-	-	-
QoQ Delta Op Mgn LTM	-	-	-	-	-	-	-
CFO/Rev LTM	40.1%	-285.4%	32.5%	49.1%	10.1%	23.0%	27.7%
CFO/Rev 3Y Avg	31.5%	-134.4%	31.4%	-	22.3%	36.7%	31.4%
FCF/Rev LTM	38.3%	-285.4%	31.2%	45.7%	7.3%	15.2%	23.2%
FCF/Rev 3Y Avg	24.8%	-134.5%	28.6%	-	19.6%	30.4%	24.8%

Valuation

	FGBI	NEWT	ATLO	CBC	NU	FITB	Median
Name	First Gu.	NewtekOne	Ames Nat.	Central .	Nu	Fifth Th.
Mkt Cap	0.2	0.4	0.3	345.9	59.2	45.2	22.8
P/S	1.8	1.5	3.9	345.8	5.0	4.8	4.3
P/Op Inc	-	-	-	-	-	-	-
P/EBIT	-	-	-	-	-	-	-
P/E	-3.6	6.2	12.5	921.6	18.6	20.8	15.5
P/CFO	4.6	-0.5	11.9	704.9	49.3	20.8	16.3
Total Yield	-27.6%	16.2%	10.8%	0.1%	5.4%	4.8%	5.1%
Dividend Yield	0.4%	0.0%	2.8%	0.0%	0.0%	0.0%	0.0%
FCF Yield 3Y Avg	22.5%	-113.9%	9.0%	-	3.3%	9.4%	9.0%
D/E	1.1	1.4	0.1	0.0	0.0	0.4	0.3
Net D/E	-8.3	0.4	-1.8	-0.0	-0.5	-1.1	-0.8

Returns

	FGBI	NEWT	ATLO	CBC	NU	FITB	Median
Name	First Gu.	NewtekOne	Ames Nat.	Central .	Nu	Fifth Th.
1M Rtn	18.2%	10.4%	11.4%	8.7%	0.0%	15.6%	10.9%
3M Rtn	28.3%	20.8%	15.0%	20.7%	-12.2%	27.2%	20.8%
6M Rtn	124.2%	21.3%	29.5%	26.1%	-27.9%	15.7%	23.7%
12M Rtn	44.7%	43.6%	76.8%	51.6%	2.4%	49.3%	47.0%
3Y Rtn	-11.0%	2.6%	84.9%	103.8%	64.5%	130.3%	74.7%
1M Excs Rtn	17.3%	9.2%	10.6%	6.5%	-4.7%	16.2%	9.9%
3M Excs Rtn	16.2%	8.7%	2.9%	8.7%	-24.3%	15.2%	8.7%
6M Excs Rtn	130.3%	17.2%	23.9%	17.5%	-34.9%	9.2%	17.4%
12M Excs Rtn	2.9%	12.4%	56.5%	28.2%	-27.9%	21.4%	16.9%
3Y Excs Rtn	-90.8%	-62.6%	9.3%	29.7%	-9.2%	53.1%	0.1%

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

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Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2025	2024	2023	2022	2021	2020
Period End	3/31/2026	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Filing Date	5/13/2026	3/31/2026	3/17/2025	3/15/2024	3/16/2023	3/16/2022	3/16/2021
Key Financials
Total Revenue	92	94	112	93	109	99	97
Net Income	-47	-56	12	9	29	27	20
EPS	-3.36	-4.17	0.81	0.62	2.48	2.42	1.90
Growth Rates
Total Revenue Growth	-17.8%	-15.9%	19.3%	-14.5%	10.8%	1.5%	41.2%
Net Income Growth	-1286.1%	-550.0%	35.0%	-68.1%	5.8%	34.3%	42.7%
Margins
Net Income Margin	-51.2%	-59.8%	11.2%	9.9%	26.4%	27.7%	20.9%
Cash & Debt
Total Cash	1,569	1,502	845	370	214	472	537
Total Debt	179	179	195	269	177	43	111
Net Debt / (Cash)	-1,390	-1,323	-650	-100	-37	-429	-427
Cash Flows & CapEx
Net Cash from Operations	37	-8	34	22	37	27	24
Total CapEx	-2	-2	-3	-15	-3	-2	-6
Free Cash from Operations	35	-10	31	7	34	24	17
Returns to Shareholders
Dividends	1	3	7	10	9	8	6
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2
Period End	3/31/2026	12/31/2025	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023
Filing Date	5/13/2026	3/31/2026	11/17/2025	8/18/2025	5/12/2025	3/17/2025	11/12/2024	8/9/2024	5/10/2024	3/15/2024	11/9/2023	8/9/2023
Key Financials Quarterly
Total Revenue	23	22	24	24	24	25	27	36	24	23	22	23
Net Income	3	2	-45	-7	-6	1	2	7	2	1	2	3
EPS	0.14	0.12	-3.01	-0.61	-0.54	0.03	0.11	0.53	0.14	0.06	0.10	0.19
Key Financials TTM
Total Revenue TTM	92	94	96	99	112	112	110	106	93	93	96	102
Net Income TTM	-47	-56	-57	-11	4	12	13	13	8	9	13	19
Growth Rates Quarterly
Total Revenue Growth	-7.0%	-11.1%	-11.1%	-34.3%	1.8%	6.8%	18.6%	56.1%	-3.2%	-8.7%	-22.7%	-18.0%
Net Income Growth	144.5%	142.6%	-2435.4%	-201.4%	-366.9%	-22.5%	8.7%	169.1%	-33.4%	-74.6%	-78.0%	-67.1%
Margins Quarterly
Net Income Margin	12.2%	11.2%	-189.8%	-30.6%	-25.5%	4.1%	7.2%	19.8%	9.7%	5.6%	7.9%	11.5%
Cash & Debt
Total Cash	1,569	1,502	1,106	1,087	864	845	706	336	369	370	281	226
Total Debt	179	179	179	179	194	195	196	277	218	269	335	205
Net Debt / (Cash)	-1,390	-1,323	-927	-908	-671	-650	-510	-59	-152	-100	55	-21
Cash Flows Quarterly
FCF from Operations	51	-25	29	-18	5	19	5	8	2	13	-3	8
Cash Flows TTM
FCF from Operations TTM	37	-8	35	11	37	34	28	20	20	22	12	28
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	1	2	2	2	2	2
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-	-	-	-	-	-	-	23.3%	29.7%	6.4%	3.2%	7.2%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-	-	-	-	-	-	-	10.2%	25.9%	11.4%	5.8%	13.0%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Single Segment	94	112	93	109	99
Total	94	112	93	109	99

Price Behavior

Price Behavior

Market Price	$10.66
Market Cap ($ Bil)	0.2
First Trading Date	12/14/2009
Distance from 52W High	0.0%
	50 Days	200 Days
DMA Price	$9.47	$7.96
DMA Trend	up	up
Distance from DMA	12.6%	33.8%
	3M	1YR
Volatility	50.8%	56.7%
Downside Capture	-34.01	37.01
Upside Capture	66.53	70.59
Correlation (SPY)	16.4%	21.9%

FGBI Betas & Captures as of 5/31/2026

	1M	2M	3M	6M	1Y	3Y
Beta	0.85	0.45	0.71	0.83	1.13	0.54
Up Beta	3.66	1.25	1.27	0.90	1.21	0.57
Down Beta	3.64	2.27	1.56	1.41	2.31	0.88
Up Capture	-30%	36%	32%	147%	50%	7%
Bmk +ve Days	13	28	36	67	141	432
Stock +ve Days	8	19	29	64	116	337
Down Capture	-124%	-203%	8%	-43%	78%	69%
Bmk -ve Days	7	13	27	57	109	318
Stock -ve Days	11	21	33	57	126	390

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with FGBI
FGBI	26.4%	57.3%	0.62	-
Sector ETF (XLF)	6.2%	14.7%	0.20	24.6%
Equity (SPY)	24.9%	12.3%	1.52	21.4%
Gold (GLD)	25.5%	27.4%	0.81	1.3%
Commodities (DBC)	30.1%	19.0%	1.25	-8.0%
Real Estate (VNQ)	13.5%	13.5%	0.69	16.5%
Bitcoin (BTCUSD)	-41.7%	42.2%	-1.16	13.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with FGBI
FGBI	-7.3%	43.6%	-0.04	-
Sector ETF (XLF)	8.8%	18.6%	0.35	23.9%
Equity (SPY)	13.5%	17.1%	0.61	19.9%
Gold (GLD)	16.8%	18.2%	0.75	-0.2%
Commodities (DBC)	8.4%	19.4%	0.33	4.2%
Real Estate (VNQ)	2.8%	18.8%	0.05	17.3%
Bitcoin (BTCUSD)	13.6%	54.4%	0.44	12.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with FGBI
FGBI	1.9%	45.1%	0.21	-
Sector ETF (XLF)	12.9%	22.2%	0.53	40.2%
Equity (SPY)	15.3%	17.9%	0.73	33.8%
Gold (GLD)	12.5%	16.1%	0.64	-3.3%
Commodities (DBC)	6.7%	18.0%	0.29	10.3%
Real Estate (VNQ)	5.7%	20.7%	0.24	30.5%
Bitcoin (BTCUSD)	60.3%	66.8%	1.00	12.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	5292026
Short Interest: Shares Quantity	0.2 Mil
Short Interest: % Change Since 5152026	-3.9%
Average Daily Volume	0.0 Mil
Days-to-Cover Short Interest	4.1 days
Basic Shares Quantity	15.8 Mil
Short % of Basic Shares	1.0%

Returns Analyses

	Title
0	With First Guaranty Bancshares Stock Surging, Have You Considered The Downside?

Earnings Returns History

Updated 6/4/2026

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
4/27/2026	8.3%	7.1%	23.3%
1/28/2026	-0.2%	6.9%	4.4%
10/31/2025	-1.2%	-14.2%	-25.1%
8/1/2025	1.1%	0.2%	5.1%
4/29/2025	-9.0%	-10.4%	-14.3%
1/30/2025	-0.7%	0.5%	-20.5%
10/30/2024	3.9%	7.1%	38.3%
7/23/2024	-3.6%	2.0%	3.1%
...
SUMMARY STATS
# Positive	12	15	15
# Negative	12	9	9
Median Positive	0.9%	3.6%	5.3%
Median Negative	-1.4%	-3.3%	-7.9%
Max Positive	8.3%	13.1%	38.3%
Max Negative	-9.0%	-14.2%	-25.1%

	Forward Returns
4/27/2026	8.3%	7.1%	23.3%
1/28/2026	-0.2%	6.9%	4.4%
10/31/2025	-1.2%	-14.2%	-25.1%
8/1/2025	1.1%	0.2%	5.1%
4/29/2025	-9.0%	-10.4%	-14.3%
1/30/2025	-0.7%	0.5%	-20.5%
10/30/2024	3.9%	7.1%	38.3%
7/23/2024	-3.6%	2.0%	3.1%
4/29/2024	-2.2%	9.6%	1.5%
2/5/2024	-3.1%	-8.8%	-9.8%
10/27/2023	3.9%	2.6%	-7.8%
8/8/2023	-1.5%	-1.3%	-5.3%
4/26/2023	-1.7%	-12.3%	-4.2%
1/31/2023	-0.6%	1.8%	-7.9%
10/27/2022	7.6%	3.6%	5.3%
7/27/2022	0.4%	-3.3%	-5.2%
4/27/2022	0.0%	13.1%	25.8%
1/26/2022	0.1%	-0.9%	3.9%
10/26/2021	-0.6%	2.8%	9.3%
7/29/2021	0.1%	0.1%	1.8%
4/26/2021	-1.0%	-2.5%	9.7%
2/3/2021	3.0%	-1.0%	4.7%
11/2/2020	0.6%	4.1%	16.3%
7/31/2020	0.3%	3.7%	8.8%
SUMMARY STATS
# Positive	12	15	15
# Negative	12	9	9
Median Positive	0.9%	3.6%	5.3%
Median Negative	-1.4%	-3.3%	-7.9%
Max Positive	8.3%	13.1%	38.3%
Max Negative	-9.0%	-14.2%	-25.1%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
03/31/2026	05/13/2026	10-Q
12/31/2025	03/31/2026	10-K
09/30/2025	11/17/2025	10-Q
06/30/2025	08/18/2025	10-Q
03/31/2025	05/12/2025	10-Q
12/31/2024	03/17/2025	10-K
09/30/2024	11/12/2024	10-Q
06/30/2024	08/09/2024	10-Q
03/31/2024	05/10/2024	10-Q
12/31/2023	03/15/2024	10-K
09/30/2023	11/09/2023	10-Q
06/30/2023	08/09/2023	10-Q
03/31/2023	05/10/2023	10-Q
12/31/2022	03/16/2023	10-K
09/30/2022	11/09/2022	10-Q
06/30/2022	08/09/2022	10-Q

Recent Forward Guidance

Updated 5/31/2026

Latest: Q1 2026 Earnings Reported 4/27/2026

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Prior: Q4 2025 Earnings Reported 1/28/2026

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Insider Activity

Updated 5/4/2026

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#	Owner	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Smith, Edgar R Iii	By: Smith & Tate Investments, LLC	Buy	5042026	9.17	109,051	999,998	7,192,948	Form
2	McAnally, Bruce	trust, BMAC Irrevocable Asset Trust, Bruce McAnally Trustee	Buy	5042026	9.17	109,051	999,998	4,049,353	Form
3	Smith, Edgar R Iii	By: Smith & Tate Investments, LLC	Buy	4022026	7.77	138,083	1,072,905	5,247,462	Form
4	Reynolds, Marshall T	Direct	Buy	4022026	7.77	32,176	250,008	15,741,997	Form
5	McAnally, Bruce	trust, BMAC Irrevocable Asset Trust, Bruce McAnally Trustee	Buy	4022026	7.77	32,176	250,008	2,583,805	Form

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#	Owner	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Smith, Edgar R Iii	By: Smith & Tate Investments, LLC	Buy	5042026	9.17	109,051	999,998	7,192,948	Form
2	McAnally, Bruce	trust, BMAC Irrevocable Asset Trust, Bruce McAnally Trustee	Buy	5042026	9.17	109,051	999,998	4,049,353	Form
3	Smith, Edgar R Iii	By: Smith & Tate Investments, LLC	Buy	4022026	7.77	138,083	1,072,905	5,247,462	Form
4	Reynolds, Marshall T	Direct	Buy	4022026	7.77	32,176	250,008	15,741,997	Form
5	McAnally, Bruce	trust, BMAC Irrevocable Asset Trust, Bruce McAnally Trustee	Buy	4022026	7.77	32,176	250,008	2,583,805	Form
6	Smith, Edgar R Iii	By: Smith & Tate Investments, LLC	Buy	1022026	5.40	208,996	1,128,578	2,901,236	Form
7	Reynolds, Marshall T	Direct	Buy	1022026	5.40	46,297	250,004	10,766,633	Form
8	McAnally, Bruce	trust, BMAC Irrevocable Asset Trust, Bruce McAnally Trustee	Buy	1022026	5.40	92,600	500,040	1,621,944	Form
9	Walker, Robert W	Direct	Buy	12152025	4.53	5,745	26,025	231,578	Form
10	Walker, Robert W	Direct	Buy	12112025	4.54	7,500	34,050	206,007	Form
11	Walker, Robert W	Direct	Buy	12052025	4.99	1,800	8,982	189,001	Form
12	Walker, Robert W	Direct	Buy	12052025	4.89	1,800	8,802	176,412	Form
13	Smith, Edgar R Iii	By: Smith-Hoover Holdings, L.L.C.	Buy	11212025	4.85	1,500	7,275	97,306	Form
14	Smith, Edgar R Iii	Direct	Buy	11212025	4.97	15,000	74,550	14,251,311	Form
15	Smith, Edgar R Iii	By; MACSMITH LLC	Buy	11212025	4.81	2,500	12,025	105,373	Form
16	Smith, Edgar R Iii	By: Smith & Hood Investment, LLC	Buy	11212025	4.95	800	3,960	1,690,113	Form
17	Smith, Edgar R Iii	By: Smith-Hoover Holdings, L.L.C.	Buy	11212025	5.78	1,500	8,670	107,294	Form
18	Reynolds, Marshall T	Direct	Buy	10022025	8.05	31,056	250,001	15,677,568	Form
19	Smith, Edgar R Iii	By: Smith & Tate Investments, LLC	Buy	10022025	8.05	141,328	1,137,690	2,642,574	Form
20	McAnally, Bruce	trust, BMAC Irrevocable Asset Trust, Bruce McAnally Trustee	Buy	10022025	8.05	31,056	250,001	1,672,468	Form
21	Walker, Robert W	Direct	Buy	9152025	8.20	3,000	24,600	281,063	Form
22	Walker, Robert W	Direct	Buy	8292025	7.97	3,750	29,888	249,270	Form
23	Walker, Robert W	Direct	Buy	8282025	8.05	3,800	30,590	221,584	Form
24	Walker, Robert W	Direct	Buy	8272025	7.84	4,700	36,848	185,275	Form
25	Hood, William K	WK Hood Family, LLC	Buy	7022025	8.10	30,865	250,006	1,047,532	Form
26	Walker, Robert W	Direct	Buy	7022025	8.10	8,000	64,800	145,800	Form
27	Smith, Edgar R Iii	Direct	Buy	7022025	8.10	30,865	250,006	7,054,784	Form
28	Reynolds, Marshall T	Direct	Buy	7012025	8.10	30,865	250,006	15,523,391	Form
29	McAnally, Bruce	trust, BMAC Irrevocable Asset Trust, Bruce McAnally Trustee	Buy	7012025	8.10	30,865	250,006	1,431,302	Form
30	Walker, Robert W	Direct	Buy	5232025	9.12	3,000	27,360	91,200	Form
31	Smith, Edgar R Iii	By: MACSMITH LLC	Buy	5232025	9.66	6,725	64,964	187,472	Form
32	Walker, Robert W	Direct	Buy	4302025	8.47	6,000	50,820	50,820	Form

FGBI Trade Sentinel

Stock Conviction

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CONVICTION RATIONALE

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STOCK ARCHETYPE

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INVESTMENT THESIS

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Supporting Evidence:

PRIMARY RISK

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Supporting Evidence:

Key KPI Watchlist

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Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

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What FGBI Makes & Who Pays

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0 / 12

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Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

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Core Cache Last Updated: 6/14/2026

First Guaranty Bancshares (FGBI)

Market Price (6/15/2026): $10.65 | Market Cap: $168.2 MilSector: Financials | Industry: Regional Banks

First Guaranty Bancshares (FGBI)

Market Price (6/15/2026): $10.65Market Cap: $168.2 MilSector: FinancialsIndustry: Regional Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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FGBI Trade Sentinel

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CONVICTION RATIONALE

STOCK ARCHETYPE

INVESTMENT THESIS

PRIMARY RISK

Market Price (6/15/2026): $10.65
Market Cap: $168.2 Mil
Sector: Financials
Industry: Regional Banks