First Guaranty Bancshares 8K Announces First Quarter 2017 Results | FGBI 27 Apr 17

EXHIBIT 99.1

APRIL 27, 2017

NEWS FOR IMMEDIATE RELEASE

CONTACT: ERIC J. DOSCH, CFO

985.375.0308

First Guaranty Bancshares, Inc. Announces First Quarter 2017 Results

Hammond, Louisiana, April 27, 2017 – First Guaranty Bancshares, Inc. ("First Guaranty") (NASDAQ: FGBI), the holding company for First Guaranty Bank, announced its unaudited financial results for the quarter ending March 31, 2017.

The first quarter of 2017 brought to First Guaranty Bancshares, Inc. increasing earnings, its 95^th consecutive quarterly dividend to shareholders, and a strong move into the nearby, booming Dallas/Fort Worth Texas market area. These factors continued the enhancement of shareholder value and the building of a fortress balance sheet.

Net income available to common shareholders for the period ending March 31, 2017 increased to $3,251,000 compared to $3,151,000 for the same period of 2016. This increase was net of $281,000 in pre-tax expenses related to the pending acquisition/merger with Premier Bancshares, Inc./Synergy Bank headquartered in McKinney, Texas and $26,000 in pre-tax expenses related to the August 2016 flood in South Louisiana. This earnings growth was driven by strong loan production as the loan portfolio increased to a total of $994,439,000 as of March 31, 2017 from $948,921,000 as of December 31, 2016, a growth, for the quarter, of 4.8%. Loan interest income for the quarter totaled $12,200,000 compared to $10,801,000 for the quarter ending March 31, 2016. The net interest margin rose to 3.35% for the first quarter 2017 compared to 3.30% for the first quarter of 2016.

The strong income resulted in an increase in retained earnings to $61,189,000 as of March 31, 2017 compared to $59,155,000 as of December 31, 2016 and $51,866,000 as of March 31, 2016. Year over year, retained earnings increased by $9,323,000 or 18.0%. This increase, combined with the 95^th consecutive quarterly dividend, represent ongoing enhancement of shareholder value.

Progress also continues on the non-financial side as First Guaranty has entered into an agreement with Premier Bancshares, Inc. to acquire and merge with Premier and its wholly owned subsidiary bank. Synergy Bank is headquartered in McKinney, Texas with branches in Garland, Denton, Northeast Fort Worth, and Waco. This combination will benefit First Guaranty in two ways.

First, Synergy has a strong SBA Lending Program. First Guaranty has not included SBA Lending in its portfolio as it lacked the expertise to properly manage and service SBA loans. With this acquisition, First Guaranty will use Synergy's SBA expertise to not only increase SBA lending in Synergy's market, but also to spread SBA lending throughout First Guaranty's existing loan market. This will be a great enhancement of First Guaranty Bank's Lending strength.

The other positive aspect is that it will get First Guaranty into the very strong and prosperous Dallas/Fort Worth market. All of the areas in which Synergy has branches are rapidly growing and prosperous. A great indication of the opportunity presented is the fact that Garland, Texas, a suburb of Dallas, with the population of approximately 240,000 would be the third largest city in Louisiana.

Progress continues. It is our aim to continue to strengthen First Guaranty Bancshares, Inc. and to continue to enhance shareholder value.

About First Guaranty

First Guaranty, a Louisiana-based company, has approximately $1.6 billion in assets as of March 31, 2017 and provides personalized commercial banking services through 21 banking facilities located across Louisiana. For more information, visit www.fgb.net.

Certain statements contained herein are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements may be identified by reference to a future period or periods, or by the use of forward looking terminology, such as "may," "will," "believe," "expect," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of those terms. Forward looking statements are subject to numerous risks and uncertainties, as described in our SEC filings, including, but not limited to, those related to the real estate and economic environment, particularly in the market areas in which First Guaranty operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset-liability management, the financial and securities markets and the availability of and costs associated with sources of liquidity.

First Guaranty wishes to caution readers not to place undue reliance on any such forward looking statements, which speak only as of the date made. First Guaranty wishes to advise readers that the factors listed above could affect First Guaranty's financial performance and could cause First Guaranty's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. First Guaranty does not undertake and specifically declines any obligation to publicly release the results of any revisions, which may be made to any forward looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

FIRST GUARANTY BANCSHARES, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS (unaudited)

(in thousands, except share data)	March 31, 2017			December 31, 2016
Assets
Cash and cash equivalents:
Cash and due from banks	$	17,802		$	17,840
Federal funds sold		291			271
Cash and cash equivalents		18,093			18,111

Investment securities:
Available for sale, at fair value		425,994			397,473
Held to maturity, at cost (estimated fair value of $97,100 and $99,906 respectively)		98,847			101,863
Investment securities		524,841			499,336

Federal Home Loan Bank stock, at cost		1,819			1,816

Loans, net of unearned income		994,439			948,921
Less: allowance for loan losses		11,647			11,114
Net loans		982,792			937,807

Premises and equipment, net		25,156			23,519
Goodwill		1,999			1,999
Intangible assets, net		974			1,056
Other real estate, net		239			359
Accrued interest receivable		6,954			7,039
Other assets		9,464			9,904
Total Assets	$	1,572,331		$	1,500,946

Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing demand	$	234,469		$	231,094
Interest-bearing demand		545,619			479,810
Savings		100,256			97,280
Time		521,924			517,997
Total deposits		1,402,268			1,326,181

Short-term borrowings		2,000			6,500
Accrued interest payable		1,962			1,931
Senior long-term debt		21,326			22,100
Junior subordinated debentures		14,638			14,630
Other liabilities		3,232			5,255
Total Liabilities		1,445,426			1,376,597

Shareholders' Equity
Common stock:
$1 par value - authorized 100,600,000 shares; issued 7,609,194 shares		7,609			7,609
Surplus		61,584			61,584
Retained earnings		61,189			59,155
Accumulated other comprehensive income (loss)		(3,477	)		(3,999	)
Total Shareholders' Equity		126,905			124,349
Total Liabilities and Shareholders' Equity	$	1,572,331		$	1,500,946

See Notes to Consolidated Financial Statements

FIRST GUARANTY BANCSHARES, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF INCOME (unaudited)

	Three Months Ended March 31,
(in thousands, except share data)	2017		2016
Interest Income:
Loans (including fees)	$	12,200	$	10,801
Deposits with other banks		19		30
Securities (including FHLB stock)		3,403		3,589
Total Interest Income		15,622		14,420

Interest Expense:
Demand deposits		1,082		614
Savings deposits		36		18
Time deposits		1,444		1,564
Borrowings		366		392
Total Interest Expense		2,928		2,588

Net Interest Income		12,694		11,832
Less: Provision for loan losses		711		843
Net Interest Income after Provision for Loan Losses		11,983		10,989

Noninterest Income:
Service charges, commissions and fees		562		657
ATM and debit card fees		474		444
Net gains on securities		530		354
Net gains on sale of loans		5		-
Other		385		379
Total Noninterest Income		1,956		1,834

Noninterest Expense:
Salaries and employee benefits		4,826		4,097
Occupancy and equipment expense		1,031		972
Other		3,137		3,030
Total Noninterest Expense		8,994		8,099

Income Before Income Taxes		4,945		4,724
Less: Provision for income taxes		1,694		1,573
Net Income	$	3,251	$	3,151

Per Common Share:
Earnings	$	0.43	$	0.41
Cash dividends paid	$	0.16	$	0.16

Weighted Average Common Shares Outstanding		7,609,194		7,609,194

See Notes to Consolidated Financial Statements

FIRST GUARANTY BANCSHARES, INC. AND SUBSIDIARY
CONSOLIDATED AVERAGE BALANCE SHEETS (unaudited)

	Three Months Ended March 31, 2017							Three Months Ended March 31, 2016
(in thousands except for %)	Average Balance		Interest		Yield/Rate (5)			Average Balance		Interest		Yield/Rate (5)
Assets
Interest-earning assets:
Interest-earning deposits with banks	$	18,643	$	19		0.41	%	$	29,339	$	30		0.41	%
Securities (including FHLB stock)		542,860		3,403		2.54	%		576,423	��	3,589		2.50	%
Federal funds sold		244		-		-	%		247		-		-	%
Loans held for sale		-		-		-	%		-		-		-	%
Loans, net of unearned income		976,855		12,200		5.06	%		835,950		10,801		5.20	%
Total interest-earning assets		1,538,602	$	15,622		4.12	%		1,441,959	$	14,420		4.02	%

Noninterest-earning assets:
Cash and due from banks		7,757							7,997
Premises and equipment, net		24,475							22,240
Other assets		4,885							4,797
Total Assets	$	1,575,719						$	1,476,993

Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Demand deposits	$	534,509	$	1,082		0.82	%	$	425,283	$	614		0.58	%
Savings deposits		97,767		36		0.15	%		84,341		18		0.09	%
Time deposits		539,965		1,444		1.08	%		591,981		1,564		1.06	%
Borrowings		41,256		366		3.60	%		41,638		392		3.79	%
Total interest-bearing liabilities		1,213,497	$	2,928		0.98	%		1,143,243	$	2,588		0.91	%

Noninterest-bearing liabilities:
Demand deposits		231,588							208,963
Other		4,478							3,588
Total Liabilities		1,449,563							1,355,794

Shareholders' equity		126,156							121,199
Total Liabilities and Shareholders' Equity	$	1,575,719						$	1,476,993
Net interest income			$	12,694						$	11,832

Net interest rate spread (1)						3.14	%						3.11	%
Net interest-earning assets (2)	$	325,105						$	298,716
Net interest margin (3), (4)						3.35	%						3.30	%

Average interest-earning assets to interest-bearing liabilities						126.79	%						126.13	%

(1)	Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.
(2)	Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities.
(3)	Net interest margin represents net interest income divided by average total interest-earning assets.
(4)	The tax adjusted net interest margin was 3.37% and 3.34% for the above periods ended March 31, 2017 and 2016 respectively. A 35% tax rate was used to calculate the effect on securities income from tax exempt securities.
(5)	Annualized.

The following table summarizes the components of First Guaranty's loan portfolio as of March 31, 2017, December 31, 2016, September 30, 2016 and June 30, 2016:

	March 31, 2017							December 31, 2016						September 30, 2016						June 30, 2016
(in thousands except for %)	Balance				As % of Category			Balance			As % of Category			Balance			As % of Category			Balance			As % of Category
Real Estate:
Construction & land development		$	86,376			8.7	%	$	84,239			8.9	%	$	78,659			8.6	%	$	71,736			8.0	%
Farmland			23,348			2.3	%		21,138			2.2	%		21,561			2.4	%		21,455			2.4	%
1- 4 Family			139,665			14.0	%		135,211			14.2	%		139,651			15.3	%		137,522			15.3	%
Multifamily			12,440			1.3	%		12,450			1.3	%		12,585			1.4	%		12,682			1.4	%
Non-farm non-residential			436,217			43.8	%		417,014			43.9	%		366,400			40.1	%		352,582			39.3	%
Total Real Estate			698,046			70.1	%		670,052			70.5	%		618,856			67.8	%		595,977			66.4	%
Non-Real Estate:
Agricultural			23,178			2.3	%		23,783			2.5	%		29,866			3.3	%		27,561			3.1	%
Commercial and industrial			206,158			20.7	%		193,969			20.4	%		206,630			22.6	%		214,270			23.8	%
Consumer and other			69,090			6.9	%		63,011			6.6	%		57,393			6.3	%		60,475			6.7	%
Total Non-Real Estate			298,426			29.9	%		280,763			29.5	%		293,889			32.2	%		302,306			33.6	%
Total loans before unearned income			996,472			100.0	%		950,815			100.0	%		912,745			100.0	%		898,283			100.0	%
Unearned income			(2,033	)					(1,894	)					(2,000	)					(1,899	)
Total loans net of unearned income		$	994,439					$	948,921					$	910,745					$	896,384

The table below sets forth the amounts and categories of our nonperforming assets at the dates indicated.

(in thousands)	March 31, 2017			December 31, 2016			September 30, 2016			June 30, 2016
Nonaccrual loans:
Real Estate:
Construction and land development	$	399		$	551		$	551		$	551
Farmland		97			105			108			111
1 - 4 family residential		2,396			2,242			2,579			4,383
Multifamily		5,058			5,014			5,097			5,152
Non-farm non-residential		2,600			2,753			1,526			1,741
Total Real Estate		10,550			10,665			9,861			11,938
Non-Real Estate:
Agricultural		1,630			1,958			2,393			2,630
Commercial and industrial		8,078			8,070			7,790			7,878
Consumer and other		721			981			1,045			1,022
Total Non-Real Estate		10,429			11,009			11,228			11,530
Total nonaccrual loans		20,979			21,674			21,089			23,468

Loans 90 days and greater delinquent & accruing:
Real Estate:
Construction and land development		-			34			-			-
Farmland		-			-			-			-
1 - 4 family residential		50			145			688			276
Multifamily		-			-			-			-
Non-farm non-residential		-			-			-			91
Total Real Estate		50			179			688			367
Non-Real Estate:
Agricultural		-			-			-			-
Commercial and industrial		-			-			-			-
Consumer and other		-			-			-			-
Total Non-Real Estate		-			-			-			-
Total loans 90 days and greater delinquent & accruing		50			179			688			367

Total non-performing loans		21,029			21,853			21,777			23,835

Real Estate Owned:
Real Estate Loans:
Construction and land development		-			-			21			21
Farmland		-			-			-			-
1 - 4 family residential		43			71			206			498
Multifamily		-			-			-			-
Non-farm non-residential		196			288			554			607
Total Real Estate		239			359			781			1,126
Non-Real Estate Loans:
Agricultural		-			-			-			-
Commercial and industrial		-			-			-			-
Consumer and other		-			-			-			-
Total Non-Real Estate		-			-			-			-
Total Real Estate Owned		239			359			781			1,126

Total non-performing assets	$	21,268		$	22,212		$	22,558		$	24,961

Non-performing assets to total loans		2.14	%		2.34	%		2.48	%		2.78	%
Non-performing assets to total assets		1.35	%		1.48	%		1.57	%		1.71	%
Non-performing loans to total loans		2.11	%		2.30	%		2.39	%		2.66	%

Non-GAAP Financial Measures

Our accounting and reporting policies conform to accounting principles generally accepted in the United States, or GAAP, and the prevailing practices in the banking industry. However, we also evaluate our performance based on certain additional metrics. Tangible book value per share and the ratio of tangible equity to tangible assets are not financial measures recognized under GAAP and, therefore, are considered non-GAAP financial measures.

Our management, banking regulators, many financial analysts and other investors use these non-GAAP financial measures to compare the capital adequacy of banking organizations with significant amounts of preferred equity and/or goodwill or other intangible assets, which typically stem from the use of the purchase accounting method of accounting for mergers and acquisitions. Tangible equity, tangible assets, tangible book value per share or related measures should not be considered in isolation or as a substitute for total shareholders' equity, total assets, book value per share or any other measure calculated in accordance with GAAP. Moreover, the manner in which we calculate tangible equity, tangible assets, tangible book value per share and any other related measures may differ from that of other companies reporting measures with similar names.

The following table reconciles, as of the dates set forth below, shareholders' equity (on a GAAP basis) to tangible equity and total assets (on a GAAP basis) to tangible assets and calculates our tangible book value per share.

	At March 31,			At December 31,
(in thousands except for share data and %)	2017			2016			2015			2014			2013
Tangible Common Equity
Total shareholders' equity	$	126,905		$	124,349		$	118,224		$	139,583		$	123,405
Adjustments:
Preferred		-			-			-			39,435			39,435
Goodwill		1,999			1,999			1,999			1,999			1,999
Acquisition intangibles		898			978			1,298			1,618			1,938
Tangible common equity	$	124,008		$	121,372		$	114,927		$	96,531		$	80,033
Common shares outstanding		7,609,194			7,609,194			7,609,194			6,920,022			6,920,022
Book value per common share	$	16.68		$	16.34		$	15.54		$	14.47		$	12.13
Tangible book value per common share	$	16.30		$	15.95		$	15.10		$	13.95		$	11.57
Tangible Assets
Total Assets	$	1,572,331		$	1,500,946		$	1,459,753		$	1,518,876		$	1,436,441
Adjustments:
Goodwill		1,999			1,999			1,999			1,999			1,999
Acquisition intangibles		898			978			1,298			1,618			1,938
Tangible Assets	$	1,569,434		$	1,497,969		$	1,456,456		$	1,515,259		$	1,432,504
Tangible common equity to tangible assets		7.90	%		8.10	%		7.89	%		6.37	%		5.59	%

First Guaranty Bancshares (FGBI) 8-KFirst Guaranty Bancshares, Inc. Announces First Quarter 2017 Results