Defendant Name: First Guaranty Bancshares, Inc.

Defendant Type: Public Company
SIC Code: 9999
CUSIP: 32043P10

Initial Case Details

Legal Case Name In the Matter of First Guaranty Bancshares, Inc.
First Document Date 31-May-2023
Initial Filing Format Administrative Action
File Number 3-21474
Allegation Type Issuer Reporting and Disclosure

Violations Alleged

Exchange Act
• Sec 13(a)
• Rule 13a-1
• Rule 13a-13
• Rule 13a-15

Resolutions

First Resolution Date 31-May-2023

Related Documents:

34-97631 31-May-2023 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On May 31, 2023, the SEC instituted settled cease and desist proceedings against First Guaranty Bancshares, Inc. (FGBI), stating: "FGBI failed to disclose repurchases of its common stock on the open market in its Forms 10-Q and 10-K in connection with an employee stock grant program (“Stock Grant Program” or “Program”) for employees of its wholly-owned subsidiary, First Guaranty Bank (“FGB”), and for annual stock bonus awards made to FGB executives, including FGB’s Chief Executive Officer (“CEO”) and Chief Financial Officer, (“CFO”)."
34-97631-s 31-May-2023 Administrative Summary
SEC Charges Publicly-Traded Louisiana Bank Holding Company for Failing to Disclose Stock Buybacks
On May 31, 2023, the SEC "announced settled charges against First Guaranty Bancshares, Inc. ("FGBI"), a Louisiana publicly-traded bank holding company that operates through its wholly-owned subsidiary, First Guaranty Bank ("FGB"), for failing to disclose repurchases of its common stock on the open market in its Forms 10-Q and 10-K. These repurchases were made in connection with an employee stock grant program for FGB employees and annual stock bonus awards made to FGB executives."