On this page of StockholderLetter.com we present the latest annual shareholder letter from First Guaranty Bancshares, Inc. — ticker symbol FGBI. Reading current and past FGBI letters to shareholders can bring important insights into the investment thesis.
fgb.net 2 0 2 5 AN N UAL R EPO RT
WILLIAM K. BILL HOOD IN MEMORY OF HONORING 48 YEARS OF LEADERSHIP AND DEDICATION William K. Bill Hood was far more than a member of the Board of Directors. He was an integral part of First Guaranty Bank. For 48 years, Bill gave his all to the bank. His dedication wasn t just to FGB's mission, but to its people and its future. He believed deeply in what we stood for, and that belief showed in everything he did. His service did not simply influence our story; it helped write it. Serving on the Board was deeply meaningful to Bill. He never viewed it as a title or formality, but as a responsibility he took seriously. Being involved in the leadership of First Guaranty Bank mattered greatly to him, and his commitment reflected the pride he felt in being part of something bigger. For nearly five decades, Bill became a steady and trusted voice as the Bank grew and changed. As the longest serving Director in our history, he offered perspective, consistency, and guidance that only time and true dedication can bring. He helped lead the Bank through every season, always focused on what would be best for the bank. Bill played a meaningful role in guiding First Guaranty Bank s evolution from a small community bank to a publicly traded financial institution reflecting both his confidence in our mission and his belief in the people carrying it forward. He led with a unique balance of determination and compassion. Bill asked tough questions, pushed for progress, and encouraged excellence, all while genuinely caring about employees, customers, and the communities we serve. His respect for others was evident, and his presence made a lasting impression well beyond board meetings. Bill s impact lives on in the culture he helped shape, the values he stood behind, and the countless people he influenced along the way. His legacy will continue to support First Guaranty Bank for generations to come. Thank you, Bill, for 48 years. You are deeply missed and will always remain an important part of our story. 1
FIRST GUARANTY BANCSHARES, INC. CORPORATE INFORMATION ANNUAL MEETING The Annual Meeting of Shareholders will convene at 2:00 PM Central Daylight Saving Time (CDT) on Thursday, May 21, 2026 in the FGB Center 206 S. Orange Street Hammond, LA 70403 CORPORATE HEADQUARTERS First Guaranty Square 400 East Thomas Street Hammond, Louisiana 70401-3320 Telephone: (888) 375-3093 SHAREHOLDER SERVICES First Guaranty Bancshares, Inc. Post Office Box 2009 Hammond, Louisiana 70404-2009 Contact: Vanessa R. Drew Telephone: (985) 375-0343 Email: investorrelations@fgb.net Scan here or go to investors.fgb.net to visit our Investor Relations site. 2 First Guaranty Bancshares, Inc. Annual Report 2025 CERTIFIED PUBLIC ACCOUNTANTS EisnerAmper, LLP FINANCIAL AND GENERAL INFORMATION Persons seeking financial or other information about the Company are invited to contact: Eric J. Dosch Chief Financial Officer, Treasurer and Secretary First Guaranty Bancshares, Inc. Post Office Box 2009 Hammond, Louisiana 70404-2009 Telephone: (985) 375-0308 NOTICE TO SHAREHOLDERS A copy of the First Guaranty Bancshares, Inc. Annual Report filed on Form 10-K with the U.S. Securities and Exchange Commission can be accessed through the Company s website at fgb.net or is available without charge by writing. NASDAQ Stock Ticker Symbol: FGBI and FGBIP
LETTER FROM THE CHIEF EXECUTIVE OFFICER & PRESIDENT Dear Shareholders, 2025 was a year of meaningful progress for First Guaranty. The strategy we articulated coming into the year was clear: align growth with capital, reduce structural expenses, enhance balance sheet resilience, and further strengthen credit quality. I am pleased to report that we made substantial progress across each of these priorities. We took deliberate steps to align asset growth with our risk based capital position. During 2025, we reduced the overall size of our loan portfolio, with a particular emphasis on lowering exposure to higher risk commercial real estate loans. We Michael R. Mineer have remained committed to the core lending franchises that reflect our strengths: Chief Executive Officer & residential mortgage, consumer lending, owner occupied commercial real estate, President agricultural lending and small business loans. Importantly, we shifted toward smaller, more diversified loan originations, improving the loan portfolio composition while supporting our communities and customers. We continue to make progress on expense reduction. Our non-interest expense was ten percent lower in 2025 compared to 2024 when excluding a one-time adjustment for Goodwill impairment. We continue to closely monitor discretionary expenses and are continually evaluating third party service relationships to identify opportunities to lower costs while improving efficiency. We strengthened our balance sheet risk management. We increased on balance sheet liquidity, lowered our loan to deposit ratio, and took steps to reduce the liability sensitive posture that had pressured net interest income during prior rate increases. Our deposit strategy continued to emphasize growth in individual and business deposits, the maintenance of a well diversified public funds program, and selective use of wholesale funding to support liquidity and interest rate sensitivity management. Finally, we enhanced credit risk management across the organization. We strengthened underwriting and approval processes, expanded internal and external loan review functions and increased our allowance for credit losses. Non-performing assets declined in 2025. As we look forward to 2026, our direction remains consistent. We will continue to execute our strategy to prioritize capital growth, expense control, prudent risk management, and credit quality. While challenges remain, the progress achieved in 2025 gives us confidence that First Guaranty is positioned for a stronger and more profitable future. Thank you for your continued trust and support. Michael R. Mineer Chief Executive Officer & President FIRST GUARANTY BANCSHARES, INC. Chief Executive Officer & President FIRST GUARANTY BANK 3
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FGBI Shareholder/Stockholder Letter Transcript:

fgb.net

2 0 2 5 AN N UAL R EPO RT


WILLIAM K.    BILL    HOOD
IN MEMORY OF
HONORING 48 YEARS OF
LEADERSHIP AND DEDICATION
William K.    Bill    Hood was far more than a member of the Board of Directors.
He was an integral part of First Guaranty Bank.
For 48 years, Bill gave his all to the bank. His dedication wasn   t just to FGB's
mission, but to its people and its future. He believed deeply in what we stood for,
and that belief showed in everything he did. His service did not simply influence
our story; it helped write it.
Serving on the Board was deeply meaningful to Bill. He never viewed it as a title
or formality, but as a responsibility he took seriously. Being involved in the
leadership of First Guaranty Bank mattered greatly to him, and his commitment
reflected the pride he felt in being part of something bigger.
For nearly five decades, Bill became a steady and trusted voice as the Bank
grew and changed. As the longest serving Director in our history, he offered
perspective, consistency, and guidance that only time and true dedication can
bring. He helped lead the Bank through every season, always focused on what
would be best for the bank.
Bill played a meaningful role in guiding First Guaranty Bank   s evolution from a
small community bank to a publicly traded financial institution reflecting both
his confidence in our mission and his belief in the people carrying it forward.
He led with a unique balance of determination and compassion. Bill asked tough
questions, pushed for progress, and encouraged excellence, all while genuinely
caring about employees, customers, and the communities we serve.
His respect for others was evident, and his presence made a lasting impression
well beyond board meetings.
Bill   s impact lives on in the culture he helped
shape, the values he stood behind, and the
countless people he influenced along the
way. His legacy will continue to support First
Guaranty Bank for generations to come.
Thank you, Bill, for 48 years.
You are deeply missed and will always
remain an important part of our story.
1


FIRST GUARANTY BANCSHARES, INC.
CORPORATE INFORMATION
ANNUAL MEETING
The Annual Meeting of Shareholders will convene
at 2:00 PM Central Daylight Saving Time (CDT)
on Thursday, May 21, 2026 in the FGB Center
206 S. Orange Street
Hammond, LA 70403
CORPORATE HEADQUARTERS
First Guaranty Square
400 East Thomas Street
Hammond, Louisiana 70401-3320
Telephone: (888) 375-3093
SHAREHOLDER SERVICES
First Guaranty Bancshares, Inc.
Post Office Box 2009
Hammond, Louisiana 70404-2009
Contact: Vanessa R. Drew
Telephone: (985) 375-0343
Email: investorrelations@fgb.net
Scan here or go to investors.fgb.net
to visit our Investor Relations site.
2
First Guaranty Bancshares, Inc. Annual Report 2025
CERTIFIED PUBLIC ACCOUNTANTS
EisnerAmper, LLP
FINANCIAL AND GENERAL INFORMATION
Persons seeking financial or other information about
the Company are invited to contact:
Eric J. Dosch
Chief Financial Officer, Treasurer and Secretary
First Guaranty Bancshares, Inc.
Post Office Box 2009
Hammond, Louisiana 70404-2009
Telephone: (985) 375-0308
NOTICE TO SHAREHOLDERS
A copy of the First Guaranty Bancshares, Inc. Annual
Report filed on Form 10-K with the U.S. Securities
and Exchange Commission can be accessed through
the Company   s website at fgb.net or is available
without charge by writing.
NASDAQ Stock Ticker
Symbol: FGBI and FGBIP


LETTER FROM THE CHIEF EXECUTIVE OFFICER & PRESIDENT
Dear Shareholders,
2025 was a year of meaningful progress for First Guaranty. The strategy we
articulated coming into the year was clear: align growth with capital, reduce
structural expenses, enhance balance sheet resilience, and further strengthen
credit quality. I am pleased to report that we made substantial progress across
each of these priorities.
We took deliberate steps to align asset growth with our risk based capital position.
During 2025, we reduced the overall size of our loan portfolio, with a particular
emphasis on lowering exposure to higher risk commercial real estate loans. We
Michael R. Mineer
have remained committed to the core lending franchises that reflect our strengths:
Chief Executive Officer &
residential mortgage, consumer lending, owner occupied commercial real estate,
President
agricultural lending and small business loans. Importantly, we shifted toward
smaller, more diversified loan originations, improving the loan portfolio composition while supporting our
communities and customers.
We continue to make progress on expense reduction. Our non-interest expense was ten percent lower in
2025 compared to 2024 when excluding a one-time adjustment for Goodwill impairment. We continue to
closely monitor discretionary expenses and are continually evaluating third party service relationships to
identify opportunities to lower costs while improving efficiency.
We strengthened our balance sheet risk management. We increased on balance sheet liquidity, lowered
our loan to deposit ratio, and took steps to reduce the liability sensitive posture that had pressured
net interest income during prior rate increases. Our deposit strategy continued to emphasize growth in
individual and business deposits, the maintenance of a well diversified public funds program, and selective
use of wholesale funding to support liquidity and interest rate sensitivity management.
Finally, we enhanced credit risk management across the organization. We strengthened underwriting and
approval processes, expanded internal and external loan review functions and increased our allowance for
credit losses. Non-performing assets declined in 2025.
As we look forward to 2026, our direction remains consistent. We will continue to execute our strategy to
prioritize capital growth, expense control, prudent risk management, and credit quality. While challenges
remain, the progress achieved in 2025 gives us confidence that First Guaranty is positioned for a stronger
and more profitable future.
Thank you for your continued trust and support.
Michael R. Mineer
Chief Executive Officer & President
FIRST GUARANTY BANCSHARES, INC.
Chief Executive Officer & President
FIRST GUARANTY BANK
3


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