{"schema_version":"secwatch.filing_event.v1","accession":"0001408534-23-000081","form_type":"8-K","ticker":"FGBI","cik":"0001408534","company_name":"First Guaranty Bancshares, Inc.","filed_at":"2023-10-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:28.940386+00:00","generated_at":"2026-06-10T00:37:58.238486+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"FGBI enters $61.3M loan agreement with Summit Community Bank, refinances existing debt","bullets":["Term loan of $40.3M at Prime minus 0.50% (floor 4.49%), amortized over 40 quarters, matures Oct 5, 2033.","Revolving line of credit up to $21M at Prime rate (floor 4.49%), interest-only monthly, matures Oct 5, 2024, unless renewed.","Proceeds used to repay all outstanding debt with First Horizon Bank and to inject capital into subsidiary First Guaranty Bank.","Loans secured by approximately 86.77% of First Guaranty Bank common stock under a Stock Pledge Agreement.","Covenants require borrower and bank to maintain specified capital ratios; standard events of default apply."],"urls":{"canonical":"https://secwatch.observer/filing/0001408534-23-000081","json":"https://secwatch.observer/filing/0001408534-23-000081.json","markdown":"https://secwatch.observer/filing/0001408534-23-000081.md","text":"https://secwatch.observer/filing/0001408534-23-000081.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1408534/000140853423000081/0001408534-23-000081-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1408534/000140853423000081/fgbi-20231005.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T00:37:58.238486+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"46a4b1cb25563bb16460d8bf5ed04e70600b198c","claim":"First Guaranty Bancshares, Inc. incurred credit facility of Term Loan of $40.3 million and revolving Line of Credit of up to $21.0 million with Summit Community Bank, Inc. at Term Loan: Prime Index Rate (Wall Street Journal) minus 0.50% per annum, reset q maturing Term Loan matures October 5, 2033; Line of Credit matures October 5, 2024.","evidence_excerpt":"On October 5, 2023, First Guaranty Bancshares, Inc. (the “Company”) entered into a Loan Agreement (the “Loan Agreement”) with Summit Community Bank, Inc. (“Lender”) pursuant to which Lender will make (i) a term loan in the principal amount of $40.3 million (the “Term Loan”), and (ii) a revolving line of credit in the maximum principal amount of up to $21.0 million (the “Line of Credit,” and, together with the Term Loan, the “Loans”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1408534/000140853423000081/0001408534-23-000081-index.htm","confidence":0.98,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"Term Loan of $40.3 million and revolving Line of Credit of up to $21.0 million"},{"label":"Counterparty","value":"Summit Community Bank, Inc."},{"label":"Rate","value":"Term Loan: Prime Index Rate (Wall Street Journal) minus 0.50% per annum, reset q"},{"label":"Maturity","value":"Term Loan matures October 5, 2033; Line of Credit matures October 5, 2024"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"a937544ed288436eb27a9e045954c3d1e79a0eb8","claim":"First Guaranty Bancshares, Inc. entered into Loan Agreement with Summit Community Bank, Inc. valued at $40.3 million (effective 2023-10-05).","evidence_excerpt":"On October 5, 2023, First Guaranty Bancshares, Inc. (the “Company”) entered into a Loan Agreement (the “Loan Agreement”) with Summit Community Bank, Inc. (“Lender”) pursuant to which Lender will make (i) a term loan in the principal amount of $40.3 million (the “Term Loan”), and (ii) a revolving line of credit in the maximum principal amount of up to $21.0 million (the “Line of Credit,” and, together with the Term Loan, the “Loans”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1408534/000140853423000081/0001408534-23-000081-index.htm","confidence":0.98,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Summit Community Bank, Inc."},{"label":"Value","value":"$40.3 million"},{"label":"Effective","value":"2023-10-05"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}