FGBI · First Guaranty Bancshares, Inc.

Summary

First Guaranty Bancshares, Inc. entered into Second Amendments dated March 20, 2026, to its Promissory Note (originally dated October 5, 2023) and Floating Rate Subordinated Note due March 28, 2034, both with Smith & Tate Investment, L.L.C., a company controlled by director Edgar Ray Smith, III. The amendments waive principal payments through March 31, 2028, and extend the option to pay interest in cash or common stock, providing payment deferral and flexibility.

Key takeaways

• Entered Second Amendment to Promissory Note on March 20, 2026, waiving nine quarterly principal payments of $1,007,812.50 from March 31, 2026, to March 31, 2028; next payment due June 30, 2028.
• Promissory Note originally provided 39 quarterly principal payments starting December 31, 2023, with final payment October 5, 2033.
• Interest payments during waiver period payable at option in cash or First Guaranty common stock based on prior trading day closing bid price.
• Entered Second Amendment to Floating Rate Subordinated Note due March 28, 2034, extending interest payment option in cash or common stock from March 31, 2026, to March 31, 2028.
• Smith & Tate Investment, L.L.C. controlled by Edgar Ray Smith, III, a director and principal shareholder of First Guaranty.
• Exhibits: 10.1 (Promissory Note Amendment), 10.2 (Subordinated Note Amendment).