JULY 31, 2020
First Guaranty Bancshares, Inc. Announces Second Quarter 2020 Results

Hammond, Louisiana, July 31, 2020 – First Guaranty Bancshares, Inc. ("First Guaranty") (NASDAQ: FGBI), the holding company for First Guaranty Bank, announced its unaudited financial results for the quarter and year ending June 30, 2020.
First Guaranty Bancshares results for the second quarter of 2020 showed strong earnings in the first half of 2020.

The first six months of 2020 brought us into a new world. It is a new world of survival, of business, of banking. Survival in a new world requires bold action, decisive action, and intelligent action.

The Board of Directors of First Guaranty Bank led the Bank on a course which brought, not just survival, but success. Success as defined not only by $5,184,000 in net income for the 3 months ending June 30, 2020 and $9,009,000 over six months ending June 30, 2020 while at the same time increasing our loan loss provision by 28.3%, but, also, taking strong steps to ensure the safety of our communities and our team members.

Immediately after enacting relief loans to assist our customers, employees, and community members through the initial financial stress of the pandemic, the Board acted to secure an additional $100 million in funding to ensure that First Guaranty had the necessary liquidity to meet our customer’s demands should they arise. At the time, the Board acted quickly to invest that liquidity in corporate bonds and other securities to ensure that, not only were the borrowed funds earning money, but, that they were creating gains which would bolster our earnings and our capital. With these steps taken, First Guaranty then turned to the Payroll Protection Plan loans to help our business customers survive. First Guaranty extended over $115 million in Payroll Protection Plan loans to businesses in our communities to help ensure their survival.

As a result of the strong, affirmative steps taken, the assets of First Guaranty Bank increased by 15.1% between December 31, 2019 and June 30, 2020 from $2,117,216,000 to $2,436,625,000. Second quarter over second quarter, earnings increased by 61.3% between June 30, 2019 and June 30, 2020 from $3,213,000 for the quarter to $5,184,000 for the quarter. On the six-month period ending on June 30, earnings increased from 6,345,000 in 2019 to 9,009,000 in 2020, an increase of 42%. Earnings for the six-month period ending June 30,2020 reached $0.92 per share.

At the same time bold financial steps were being taken, First Guaranty Bank moved to provide for safety of its customers and employees. Steps such as dividing crucial management and operations into different locations to reduce the chance of infection and for Business continuity. We also implemented a telephone appointment system and provided screens to further protect employees and customers.

The result of six months of a new world and new challenges is that First Guaranty has continued to progress and move closer to shareholder value enhancement by strong earnings and a fortress balance sheet.

This report would not be complete without acknowledgment of and a bow to our Board of Directors and our staff in, not only performing, but excelling in times of great change and adversity.

Thank you for your support.

Alton B. Lewis
President and CEO
First Guaranty, Bancshares, Inc.
About First Guaranty
First Guaranty, a Louisiana-based company, has approximately $2.4 billion in assets as of June 30, 2020 and provides personalized commercial banking services through 33 banking facilities located across Louisiana and Texas. For more information, visit www.fgb.net.
Certain statements contained herein are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements may be identified by reference to a future period or periods, or by the use of forward looking terminology, such as "may," "will," "believe," "expect," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of those terms. Forward looking statements are subject to numerous risks and uncertainties, as described in our SEC filings, including, but not limited to, those related to the real estate and economic environment, particularly in the market areas in which First Guaranty operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset-liability management, the financial and securities markets and the availability of and costs associated with sources of liquidity.
First Guaranty wishes to caution readers not to place undue reliance on any such forward looking statements, which speak only as of the date made. First Guaranty wishes to advise readers that the factors listed above could affect First Guaranty's financial performance and could cause First Guaranty's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. First Guaranty does not undertake and specifically declines any obligation to publicly release the results of any revisions, which may be made to any forward looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

The following information was filed by First Guaranty Bancshares, Inc. (FGBI) on Friday, July 31, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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