First Guaranty cuts Q3 dividend to $0.08 from $0.16; cites strategy shift for capital accretion

First Guaranty Bancshares, Inc.

Dividend cut from $0.16 to $0.08 per share for Q3 2024; expected to add $1.0M in capital accretion.
New business strategy announced July 23: slow asset growth, increase automation, leaner staff, boost capital.
Management anticipates improvement in risk-based capital ratios for end of Q3 2024.
Board approved the lower dividend to strengthen capital position.

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