First Guaranty Bancshares to terminate merger plans with Lone Star Bank

In a regulatory filing earlier this week, the company stated: “As previously disclosed, on January 9, 2023, First Guaranty Bancshares, Inc. entered into an Agreement and Plan of Merger dated January 6, 2023 by and among First Guaranty, First Guaranty Bank, and Lone Star Bank, pursuant to which, on the terms and subject to the conditions set forth therein, First Guaranty would acquire all of the issued and outstanding shares of Lone Star common stock in exchange solely for shares of First Guaranty common stock through the merger of Lone Star with and into First Guaranty Bank, with First Guaranty Bank as the surviving banking corporation. On July 10, 2023, First Guaranty, First Guaranty Bank, and Lone Star entered into a Mutual Termination Agreement and Release pursuant to which the parties mutually agreed to terminate the Merger Agreement.”