HAMMOND, Louisiana, November 09, 2021 (GLOBE NEWSWIRE) – First Guaranty Bancshares, Inc. (“First Guaranty”) (NASDAQ: FGBI), the holding company of First Guaranty Bank, announced its unaudited financial results for the last quarter. ending September 30, 2021.

The third quarter of 2021 is a testament to the strength, resilience and progress of First Guaranty Bancshares, Inc. over the past several years. The third quarter of 2021 brought record earnings and shareholder value despite Hurricane Ida and despite persistent obstacles from Covid-19. Continued strong demand for loans resulted in loan interest income of $ 26,685,000 for the quarter, compared to $ 22,519,000 for the same quarter of 2020, an increase of approximately 20%. At the same time, our interest expense reduction efforts resulted in a decrease in total interest expense of approximately 10%. The combination resulted in net interest income, after allowance for loan losses, for the quarter of $ 23,528,000 compared to $ 17,494,000 for the same quarter of 2020; an increase of about 35%. At the same time, as a result of our focus on expense control, non-interest expense increased only 8.5%. Net income available to common shareholders increased for the quarter from $ 5,182,000 to $ 7,209,000, an increase in net income available to common shareholders of approximately 40%.

Strong progress.

Our loan pipeline indicates that we will continue to make solid progress. Due to the cancellation of the PPP, our loan portfolio for the quarter did not increase significantly; however, the fact that we have replaced PPP loans with basic loans, due to the difference in performance, we will increase revenues by approximately $ 1,000,000 without any significant difference in our balance sheet. This is the type of management and progress that we hope to continue.

And, in case you didn’t know, we’ve been selected by Newsweek and Lending Tree for the second year in a row as America’s Best Small Bank. Our championship last year was not a one-off flash. We have shown that we have the quality and consistency to rehearse.

We will continue to build a strong and strengthened balance sheet. We will continue to increase shareholder value.

Thank you for your support.

Truly,

Alton B. Lewis President and CEO First Guaranty, Bancshares, Inc.

About the first warranty

First Guaranty, a Louisiana-based company, has approximately $ 2.8 billion in assets as of September 30, 2021 and provides personalized commercial banking services through 34 banking establishments located in Louisiana and Texas. For more information, visit www.fgb.net.

Certain statements contained herein are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Trading Act of 1934. believe “,” expect to ”,“ estimate ”,“ anticipate ”,“ continue ”or similar terms or variations on these terms, or the negative of these terms. Forward-looking statements are subject to numerous risks and uncertainties, as described in our documents filed with the SEC, including, but not limited to, those relating to the real estate and economic environment, particularly in the areas of market in which First Guaranty operates, competitive products and prices, US government monetary policies and changes, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in rates interest in force, acquisitions and integration of acquired businesses, credit risk management, asset-liability management, financial and securities markets and the availability and costs associated with sources of liquidity.

First Guaranty wishes to caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. First Guaranty wishes to inform readers that the factors listed above could affect the financial performance of First Guaranty and could cause First Guaranty’s actual results for future periods to differ materially from the opinions or statements expressed regarding future periods in the future. current statements. First Guaranty does not undertake and specifically disclaims any obligation to publish the results of any revisions, which may be made to any forward-looking statement to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated events. or unforeseen.

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CONTACT: ERIC J. DOSCH, Financial Director 985.375.0308

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