54 F
Fort Worth
Wednesday, December 2, 2020
Banking Louisiana-based bank acquires McKinney bank with Fort Worth branch

Louisiana-based bank acquires McKinney bank with Fort Worth branch

Other News

Exxon’s oil slick

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market...

Folk music’s Mark Twain: 7 Essential tracks from John Prine,

NEW YORK (AP) — Some people, the songs just come out of them. For nearly half a century, they tumbled out of John Prine...

Tarrant County records another COVID-19 death

Tarrant County Public Health (TCPH) on Wednesday, April 8 reported that a resident of Euless has died as the result of the COVID-19 virus....

Tradition stymied: A year unlike any since WWII for Augusta

The Masters is so intertwined with Augusta, they added an extra day to spring break.You see, the first full week of April isn't just...

First Guaranty Bancshares Inc. has entered into a definitive agreement to acquire Premier Bancshares Inc. of McKinney, parent of Synergy Bank SSB.

According to the terms of the agreement, First Guaranty will acquire all of the outstanding common stock of Premier in a transaction valued at approximately $21 million.

The acquisition will put First Guaranty into the Dallas-area market. Synergy Bank has five branches, including one in Fort Worth.

“First Guaranty continues to move forward,” said Alton Lewis, president and CEO of Hammond, Louisiana-based First Guaranty. “This expansion into the Dallas/Fort Worth area market is the natural progression down I-20 from our growing Northwest Louisiana market presence. The merger with Premier and its subsidiary Bank, Synergy Bank, gives double significant benefit to First Guaranty. While establishing us in this strong and rapidly growing market, it also allows us to tap into the Small Business Administration (SBA) expertise of Synergy which will allow us to expand those loan products throughout the entire First Guaranty system. We will be able to provide new service to our existing markets. The combined positive impact on First Guaranty should be tremendous. This combination was made possible by the strong leadership of Joe Williams, chairman of Premier, the Board of Directors, and the management team.”

First Guaranty Bancshares Inc. is the holding company for First Guaranty Bank, a Louisiana state-chartered bank. Founded in 1934, First Guaranty Bank currently operates 21 branches in Louisiana, with another set to come on line in Bossier City. The company’s common stock trades on the

NASDAQ under the symbol FGBI.

Premier Bancshares, Inc. Financial Highlights (as of September 30, 2016)

Assets: $153 million

Loans: $111 million

Deposits: $131 million

Equity: $19.8 million

www.synergybank.com

First Guaranty Bancshares Inc. Financial Highlights (as of September 30, 2016)

Assets: $1.4 billion

Loans: $911 million

Deposits: $1.3 billion

Equity: $129.1 million

www.fgb.net.


close






Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.

Latest News

Texas Trust appoints Chief Growth Officer

Texas Trust Credit Union has appointed Ron Smith to the new role of Chief Growth Officer, charged with developing and executing data-driven strategies to...

Biden to nominate Yellen, highlights diversity on econ team

WILMINGTON (AP) — President-elect Joe Biden on Monday announced his senior economic team, including his plans to nominate the first woman to head the...

Stocks edge higher on Wall Street on latest vaccine hopes

NEW YORK (AP) — U.S. stocks edged higher in morning trading Monday after investors received several pieces of encouraging news on COVID-19 vaccines and...

Mnuchin denies he’s trying to hinder incoming administration

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin denied that he is attempting to limit the choices President-elect Joe Biden will have to promote an...

Bank of America announces $2.65 million jobs initiative for Texas Black and Hispanic-Latino students

Bank of America announced a new multimillion dollar jobs initiative Nov. 19 to help students of color complete the education and training necessary to...