secwatch.observer — SEC 8-K summary
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Issuer:     First Guaranty Bancshares, Inc. (FGBI)
CIK:        0001408534
Form:       8-K
Filed at:   2024-04-03T23:59:59+00:00
Accession:  0001408534-24-000025
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FGBI issues $30M subordinated note to director-affiliated purchaser
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- $30M subordinated note issued to Smith & Tate Investment, L.L.C., controlled by director Edgar Ray Smith III.
- Floating rate at Prime + 75 bps; ten-year term maturing March 28, 2034.
- Note is unsecured, subordinated, and qualifies as Tier 2 capital for regulatory purposes.
- Proceeds to repay existing debt, support Bank capital needs, and for general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1408534/000140853424000025/0001408534-24-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1408534/000140853424000025/fgbi-20240328.htm
  HTML page:      https://secwatch.observer/filing/0001408534-24-000025

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer