Defendant Name:
First Guaranty Bancshares, Inc.
Defendant Type:
Public Company
Document Reference:
34-97631-s
Document Details
Legal Case Name
In the Matter of First Guaranty Bancshares, Inc.
Document Name
SEC Charges Publicly-Traded Louisiana Bank Holding Company for Failing to Disclose Stock Buybacks
Document Date
31-May-2023
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Monetary Penalties:
Civil Penalty
Individual:
$600,000.00
Shared: