---
schema_version: "secwatch.filing_event.v1"
accession: "0001408534-24-000060"
form_type: "8-K"
ticker: "FGBI"
cik: "0001408534"
company_name: "First Guaranty Bancshares, Inc."
filed_at: "2024-07-01T23:59:59+00:00"
generated_at: "2026-05-31T23:58:07.295143+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# First Guaranty Bancshares sells three bank branches for $15M in sale-leaseback with related parties

## Summary
- Sold three Louisiana properties to FGB Partners (owned by three directors/Chairman) for $15M cash.
- Bank entered 15-year absolute net leases; no branches closing or market exits.
- Transaction yields pre-tax gain of $13.2M ($10.4M after tax).
- First full-year rent expense estimated at $1.3M pre-tax ($1.0M after tax).
- Leases include 5-year CPI rent adjustments with 3% floor and standard net lease obligations.

## SEC filing metadata
- accession: 0001408534-24-000060
- form_type: 8-K
- ticker: FGBI
- cik: 0001408534
- company_name: First Guaranty Bancshares, Inc.
- filed_at: 2024-07-01T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1408534/000140853424000060/0001408534-24-000060-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1408534/000140853424000060/fgbi-20240628.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001408534-24-000060
- JSON: https://secwatch.observer/filing/0001408534-24-000060.json
- Plain text: https://secwatch.observer/filing/0001408534-24-000060.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.