First Guaranty and Lone Star mutually terminate merger agreement due to changed market conditions

First Guaranty Bancshares, Inc.

Termination effective July 10, 2023; mutual agreement by both boards.
Citing 'changed market conditions' since January 6, 2023 merger agreement.
First Guaranty CEO Lewis and Lone Star CEO Harrington state it allows focus on individual growth strategies.
No termination fee or other consideration mentioned in the filing.

item 1.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

First Guaranty Bancshares, Inc. terminated Merger Agreement with Lone Star Bank (effective 2023-07-10).

Action: termination
Agreement: merger
Counterparty: Lone Star Bank
Effective: 2023-07-10

Exact text from the filing

On July 10, 2023, First Guaranty, First Guaranty Bank, and Lone Star entered into a Mutual Termination Agreement and Release (the “Termination Agreement”) pursuant to which the parties mutually agreed to terminate the Merger Agreement.

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First Guaranty Bancshares, Inc. filing history →

Source: SEC EDGAR

accession 0001408534-23-000060

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