First Guaranty Bank buys back three properties from related party for $14.77M, terminates leases

First Guaranty Bancshares, Inc.

Purchased three properties from FGB Partners for $14.77M cash on April 29, 2026, terminating 15-year lease agreements.
Properties were originally sold in a sale-leaseback on June 28, 2024; leases had initial 15-year term with renewal options.
FGB Partners is owned by Chairman's son Douglas V. Reynolds, director Edgar Ray Smith III, and estate of former director.
The transaction eliminates future rent obligations and transfers real estate ownership back to the bank.

item 1.02

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 Lease Agreements with FGB Partners, LLC (effective 2026-04-29).

Action: termination
Agreement: lease
Counterparty: FGB Partners, LLC
Effective: 2026-04-29

Exact text from the filing

In connection with the purchase of the Properties by the Bank, the Bank and FGB Partners terminated the Lease Agreements.

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First Guaranty Bancshares, Inc. filing history →

Source: SEC EDGAR

accession 0001408534-26-000035

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