First Guaranty Bank

First Guaranty Bank is a Louisiana-based banking institution headquartered in Hammond. It was established in 1934 as Guaranty Bank & Trust Company and adopted the name First Guaranty Bank in 1971. The bank operates as the primary subsidiary of First Guaranty Bancshares, Inc., a bank holding company, and has expanded its presence through a combination of branch acquisitions and bank-holding-company transactions. The institution's history reflects the consolidation of community banking in Louisiana and neighboring markets. In 1999, it acquired 13 branches from Bank One, materially broadening its branch network. In 2007, the organization acquired Homestead Bancorp, Inc. for $13 million in cash and also acquired Douglass National Bank of Kansas City. These transactions extended the bank's corporate and geographic reach beyond its original Hammond base. In 2017, First Guaranty acquired Premier Bancshares for $21 million in cash and stock. In 2019, its holding company agreed to purchase the holding company of The Union Bank of Marksville, Louisiana for $43 million; the transaction was expected to increase the number of branches by approximately half, to around 30, when completed. First Guaranty Bank also participated in the federal Troubled Asset Relief Program. On September 22, 2011, it exited the program by repurchasing securities from the United States Treasury for $21.1 million. This marked the bank's repayment and withdrawal from that particular government-supported capital arrangement, although the transaction should be understood as a historical event rather than a description of its present capital structure. The bank became the subject of public controversy in 2019 after reporting associated with a New York Times podcast alleged that it had discriminated against African-American farmers June and Angie Provost. The allegations included claims that loan amounts had been altered and applicant signatures forged, contributing to financial distress, foreclosure of the farmers' property, and the loss of their farm and home. The matter was described as being connected to litigation and a federal United States Department of Agriculture whistleblower complaint. First Guaranty Bank denied the allegations, calling them unfounded and frivolous and stating that it did not engage in discriminatory practices. Publicly available reference material characterizes First Guaranty Bank primarily as a branch-based banking institution rather than as a consumer-product brand. Its identifiable business scope is therefore the provision of banking services through its branch network under the First Guaranty name. The bank's brand identity is rooted in regional banking, local-market presence, and growth through acquisitions. Detailed current information about its products, leadership, ownership structure, website, and present branch count is not established in the supplied reference material.

First Guaranty Bank was founded in Hammond, Louisiana, in 1934 under the name Guaranty Bank & Trust Company. The institution adopted its current name in 1971, establishing the identity under which it later expanded its branch and acquisition footprint. A significant early expansion occurred in 1999, when the bank acquired 13 branches from Bank One. The transaction increased its physical presence and illustrates the role of branch acquisitions in the bank's development. In 2007, the organization expanded again by acquiring Homestead Bancorp, Inc. for $13 million in cash. It also acquired Douglass National Bank of Kansas City during the same period, adding further corporate and market reach. First Guaranty Bank was a participant in the federal Troubled Asset Relief Program. On September 22, 2011, it exited the program by repurchasing securities from the United States Treasury for $21.1 million. The repayment was a notable capital and ownership milestone in the bank's history. The acquisition-led strategy continued in 2017, when the company acquired Premier Bancshares for $21 million in cash and stock. In August 2019, First Guaranty Bancshares entered into an agreement to purchase the holding company of The Union Bank of Marksville, Louisiana, for $43 million. Reference material states that completion of the transaction was expected to increase the bank's branch count by about 50 percent, to approximately 30 branches. The bank faced public allegations concerning racial discrimination in 2019. In reporting connected with a New York Times podcast, Nikole Hannah-Jones described claims by African-American farmers June and Angie Provost that the bank had altered loan amounts and forged signatures. The allegations were presented as contributing to financial pressure, foreclosure, and the loss of the farmers' farm and home. The matter was also described as the subject of litigation and a federal United States Department of Agriculture whistleblower complaint. First Guaranty Bank rejected the claims, characterizing them as unfounded and frivolous and stating that it had not engaged in discriminatory practices. The supplied reference material describes First Guaranty Bank as headquartered in Hammond and operating 21 branches, while also describing the anticipated post-acquisition network in 2019 as approximately 30 branches. It identifies First Guaranty Bancshares, Inc. as the bank's holding company and principal corporate parent. Beyond these historical facts, the available material does not establish a current executive roster, official website, ticker, detailed product catalog, or current ownership information.

• 2019

  Agreement to acquire The Union Bank of Marksville holding company

  [1]First Guaranty Banken.wikipedia.org

  The holding company agreed to purchase the holding company of The Union Bank of Marksville for $43 million, with expected branch-network expansion.

• 2017

  Acquisition of Premier Bancshares

  [1]First Guaranty Banken.wikipedia.org

  First Guaranty acquired Premier Bancshares for $21 million in cash and stock.

• 2011

  Repayment of Troubled Asset Relief Program securities

  [1]First Guaranty Banken.wikipedia.org

  The bank repurchased securities from the United States Treasury for $21.1 million and exited the Troubled Asset Relief Program.

• 2007

  Homestead Bancorp and Douglass National Bank transactions

  [1]First Guaranty Banken.wikipedia.org

  The organization acquired Homestead Bancorp, Inc. for $13 million in cash and also acquired Douglass National Bank of Kansas City.

• 1999

  Acquisition of 13 Bank One branches

  [1]First Guaranty Banken.wikipedia.org

  First Guaranty acquired 13 branches from Bank One, expanding its branch network.

• 1971

  Name changed to First Guaranty Bank

  [1]First Guaranty Banken.wikipedia.org

  The bank adopted the First Guaranty Bank name.

• 1934

  Bank founded in Hammond

  [1]First Guaranty Banken.wikipedia.org

  The institution was established in Hammond, Louisiana, as Guaranty Bank & Trust Company.

Regional and community banking institution serving Louisiana markets through a branch network and growth by acquisition.

• Banking services

  Community and commercial banking

  First Guaranty Bank is described in the reference material as a branch-based bank serving regional markets. Its identifiable scope includes community and commercial banking delivered through its physical branch network. The supplied sources do not provide a sufficiently detailed list of named accounts, loan products, digital services, or other current offerings.

• 2019

  Allegations of racial discrimination in lending

  Reporting associated with a New York Times podcast alleged that First Guaranty Bank discriminated against African-American farmers June and Angie Provost. The reported claims included changing loan amounts and forging applicant signatures, with alleged consequences including financial pressure and foreclosure of the farmers' farm and home. The matter was described as involving litigation and a federal USDA whistleblower complaint. First Guaranty Bank denied the allegations and said it did not engage in discriminatory practices.

  Source

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• 2019

  Agreement to acquire The Union Bank of Marksville holding companyM&A

  Background

  First Guaranty Bancshares pursued expansion of its Louisiana banking footprint through a holding-company acquisition.

  Action taken

  The holding company agreed to acquire The Union Bank of Marksville's holding company for $43 million.

  Aftermath

  The transaction was expected to increase the branch network by approximately 50 percent, to around 30 branches, upon completion.

  Acquisition consideration. $43 million (August 2019)

  Source

• 2011

  Exit from the Troubled Asset Relief ProgramStrategy

  Background

  The bank had participated in the federal Troubled Asset Relief Program.

  Action taken

  It repurchased securities from the United States Treasury for $21.1 million and ended its participation in the program.

  Aftermath

  The transaction marked the bank's withdrawal from that government-supported capital arrangement.

  Treasury securities repurchase. $21.1 million repurchase (September 22, 2011)

  Source

1. 1First Guaranty Banken.wikipedia.org