FIRST GUARANTY BANCSHARES, INC. (NASDAQ:FGBI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k
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FIRST GUARANTY BANCSHARES, INC. (NASDAQ:FGBI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) Dr. Glenda Glover has served on the board of two depository organizations. 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 ("First Guaranty") 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.


About FIRST GUARANTY BANCSHARES, INC. (NASDAQ:FGBI)

First Guaranty Bancshares, Inc. is a bank holding company. The Company operates through its owned subsidiary, First Guaranty Bank (the Bank). The Bank offers personalized commercial banking services to Louisiana customers, through approximately 20 banking facilities located in the Market Services Areas (MSAs). Its principal business consists of attracting deposits from the general public and local municipalities in its market areas and investing those deposits, together with funds generated from operations and borrowings in securities and in lending activities to serve the credit needs of its customer base, including commercial real estate loans, commercial and industrial loans, one- to four-family residential real estate loans, construction and land development loans, agricultural and farmland loans, and to a lesser extent, consumer and multifamily loans. It also participates in certain syndicated loans, including shared national credits, with other financial institutions.