NEWS FOR IMMEDIATE RELEASE
CONTACT: ALTON LEWIS, CEO AND ERIC DOSCH, CFO
985.375.0350 / 985.375.0308

HAMMOND, LOUISIANA, AUGUST 25, 2021 - First Guaranty Bancshares’ momentum continues and grows. In a time of uncertainty, we are proud to be able to reinvest $1,559,000 back into the community by paying our 113^th consecutive common dividend to all First Guaranty Bancshares shareholders. When many businesses are forced to cut costs and close their doors, we are able to provide our economy with consistency and stability – when it’s needed most.

On August 19, 2021 the Board of Directors of First Guaranty Bancshares, Inc. declared a quarterly cash dividend on First Guaranty's outstanding shares of common stock of $0.16 per share. The dividend will be payable to shareholders of record as of September 20, 2021 and is expected to be paid on September 30, 2021.

First Guaranty achieved a new record for quarterly income posting net income for the second quarter of 2021 of $6,434,000. This represents a 24% increase over the second quarter of 2020 which was $5,184,000. The six months ending June 30, 2021 earnings totaled $11,457,000, a 27.2% increase over the first six months of 2020, which saw earnings of $9,009,000. First Guaranty has now posted 5 consecutive quarters of earnings in excess of $5,000,000, with two of those quarters in excess of $6,000,000. The strong increase in earnings is brought about by a combination of continued growth in total interest income and continued reduction in interest expense.

The table is set for continued strong earnings as our total loans have grown as of June 30, 2021, to $2,066,408,000 compared to $1,844,135,000 as of December 31, 2020 (an increase of 12%) and $1,640,723,000 as of June 30, 2020 (an increase of 26%). With a strong earnings portfolio and continuing strong demand and with our continued strategy and efforts for reducing our cost of funds, we anticipate that the third quarter will carry the momentum even further.

As of June 30, 2021, total assets were $2,745,051,000, an increase of 11% from December 31, 2020. For the quarter ending June 30, 2021, return on average assets reached 0.93% and return on average common equity equaled 13.86%.

The momentum grows as we make progress toward our goals of enhancing shareholder value and building a fortress balance sheet for First Guaranty Bancshares, Inc.

First Guaranty Bancshares, Inc. (NASDAQ: FGBI) is a financial holding company with total assets of $2.7 billion as of June 30, 2021 that conducts business primarily through its principal subsidiary, First Guaranty Bank. First Guaranty Bank is a Louisiana state-chartered bank. Founded in 1934, First Guaranty Bank offers a wide range of financial services and focuses on building client relationships and providing exceptional customer service. First Guaranty Bank currently operates thirty-four banking facilities primarily located throughout Southeast, Southwest, Central and North Louisiana and North Central Texas. The company’s common stock trades on the Nasdaq Global Market under the symbol FGBI. For more information, visit www.fgb.net.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to the financial condition, liquidity, results of operations, and future performance of FGBI’s business. These forward-looking statements are intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those that are not historical facts. Forward-looking statements include statements with respect to beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions that are subject to significant risks and uncertainties and are subject to change based on various factors (some of which are beyond FGBI’s control, particularly with regard to developments related to the novel coronavirus (“COVID-19”)). Forward-looking statements often include the words “believes,” “expects,” “anticipates,” “estimates,” “forecasts,” “intends,” “plans,” “targets,” “potentially,” “probably,” “projects,” “outlook” or similar expressions or future conditional verbs such as “may,” “will,” “should,” “would” and “could.”  FGBI cautions you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although FGBI believes that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements.

Currently, the most important factor known to management that could cause actual results to differ materially from those in the forward-looking statements is the continued impact of the COVID-19 pandemic and related governmental measures to respond to the pandemic on the United States economy and the economies of the markets in which FGBI operates. Additional information regarding factors that could cause actual results to differ materially from those discussed in any forward-looking statements are described in reports and registration statements FGBI files with the SEC, including its Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, copies of which are available on the Corporation’s internet website www.fgb.net.

FGBI disclaims any obligation to update any forward-looking statements or any changes in events, conditions or circumstances upon which any forward-looking statement may be based except as required by law.