First Guaranty Bancshares, Inc. Provides Earnings Guidance for the Third Quarter and Nine Months Ended September 30, 2015
October 19, 2015 at 08:59 am EDT
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First Guaranty Bancshares, Inc. provided earnings guidance for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported net income available to common shareholders is estimated to be between $3.7 million and $3.9 million for the three months ended September 30, 2015 compared to $2.9 million for the three months ended September 30, 2014. Earnings per common share are estimated to be $0.60 per common share compared to $0.45 per common share for the three months ended September 30, 2014. The increase in net income available to common shareholders as compared to the prior year periods was due to an increase in loan interest income and due to the completion of the sale of shares in a preferred security that converted to common stock in the first quarter of 2015 resulting in a pre-tax gain on sale of $2.2 million. Net interest income is estimated to be between $11.7 million and $11.8 million as compared to $10.9 million for the three months ended September 30, 2014. Pretax net income is estimated to be between $5.8 million and $5.9 million as compared to $4.4 million for the three months ended September 30, 2014.
Net income available to common shareholders is estimated to be between $10.7 million and $10.9 million for the nine months ended September 30, 2015 compared to $8.1 million for the nine months ended September 30, 2014. Earnings per common share for the nine months ended September 30, 2015 are estimated to be $1.72 per common share compared to $1.29 per common share for the nine months ended September 30, 2014. The increase in net income available to common shareholders as compared to the prior year periods was due to an increase in loan interest income and due to the completion of the sale of shares in a preferred security that converted to common stock in the first quarter of 2015 resulting in a pre-tax gain on sale of $2.7 million. Net interest income is estimated to be between $35.3 million and $35.5 million as compared to $32.4 million for the nine months ended September 30, 2014. Pretax net income is estimated to be between $16.6 million and $16.8 million as compared to $12.7 million for the nine months ended September 30, 2014.
First Guaranty Bancshares, Inc. is the holding company for First Guaranty Bank (the Bank). The Bank offers a range of financial services and focuses on building client relationships and providing customer service. The Bank operates about 36 locations throughout Louisiana, Texas, Kentucky, and West Virginia. The Banks principal business consists of attracting deposits from the general public and local municipalities in its market areas and then investing those deposits. The Bank also generates funds from operations, borrowings in lending and investing in securities. The Bank serves the credit needs of its customer base, including commercial real estate loans, commercial and industrial loans, commercial leases, and others. The Bank offers a variety of deposit accounts to consumers, small businesses, and municipalities, including personal and business checking and savings accounts, time deposits and money market accounts. In addition, the Bank offers a range of consumer services.
FIRST GUARANTY BANCSHARES, INC. 
