First Guaranty in Louisiana Files for $75M IPO

By Colin Wilhelm October 28, 2014, 7:42 a.m. EDT 1 Min Read

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Great Western Parent Could Raise $100M From Bank's IPO

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First Guaranty Bancshares in Hammond, La., has filed for a $75 million initial public offering.

The $1.5 billion-asset company filed its registration statement on Friday, though it did not state how many shares it plans to sell or the expected price range.

First Guaranty said it could use proceeds from the IPO to increase the size of its bank's loan portfolio and acquisitions, among other things. The company added that it could also use proceeds from the offering to redeem preferred stock it issued the Treasury Department as part of the Small Business Lending Fund.

The company said its acquisition strategy would focus on banks with $100 million to $1 billion in assets in Louisiana and adjacent states.

Colin Wilhelm