First Guaranty Drops 5%; Credit Cleanup in Focus for Traders
First Guaranty Bancshares shares fell 5.25% to $9.56 Friday, underperforming regional bank peers ahead of Monday’s Nasdaq session. First-quarter net income rose to $2.7 million from a $6.2 million loss a year earlier, but non-performing assets remain high at $83.5 million. The bank is exiting Texas, selling five branches and $270 million in deposits to Armstrong Bank. Loans and deposits both declined since year-end.
