PropertyMay 5, 2026, 04:51 PM
First Guaranty Bank Buys 3 Properties for $14.77M, Ends Leases
AI Summary
First Guaranty Bank, a subsidiary of First Guaranty Bancshares, Inc., purchased three properties from FGB Partners, LLC for an aggregate cash price of $14,770,000. This transaction, which occurred on April 29, 2026, resulted in the termination of the absolute net lease agreements that the Bank had with FGB Partners. The properties, which include two branches and part of the headquarters, were initially part of a sale-leaseback transaction in June 2024, and FGB Partners is owned by related parties.
Key Highlights
- First Guaranty Bank purchased three properties from FGB Partners, LLC.
- The aggregate cash purchase price for the properties was $14,770,000.
- The properties include two stand-alone branches and a portion of the headquarters building.
- The purchase terminated absolute net lease agreements between the Bank and FGB Partners.
- The lease agreements had an initial term of 15 years with renewal options.
- The properties were initially sold to FGB Partners on June 28, 2024, in a sale-leaseback transaction.
- FGB Partners is wholly owned by related parties, including the son of the Chairman and a director.