First Guaranty Bancshares, Inc. Appoints Mineer as President and CEO

Rhea-AI Summary

First Guaranty Bancshares has announced the appointment of Michael Mineer as President and CEO, following the retirement of Alton Lewis in May. Mineer, who has been with First Guaranty since 2021 as Mideast Area President, brings over 35 years of banking experience. He previously served as President and CEO of Citizens Deposit Bank, growing its assets from $89 million to $650 million. Additionally, as Senior Vice President of Premier Financial Bancorp, he digitalized processes and helped expand the company's assets from $500 million to $2.2 billion. Mineer aims to leverage technology to enhance efficiency, reduce costs, and boost revenue, focusing on improving operating efficiency and shareholder value.

Positive

• Michael Mineer has over 35 years of banking experience.
• Successfully grew Citizens Deposit Bank’s assets from $89 million to $650 million.
• Helped Premier Financial Bancorp grow from $500 million to $2.2 billion in assets.
• Plans to implement technological solutions to drive efficiencies and reduce costs.
• Aims to improve operating efficiency and shareholder value.

Negative

• Transition risks with leadership change.
• Potential short-term disruptions as new strategies are implemented.

HAMMOND, La., June 03, 2024 (GLOBE NEWSWIRE) -- First Guaranty Bancshares, Inc. announced Michael Mineer has been appointed as First Guaranty Bancshares, Inc. and First Guaranty Bank’s President and CEO. He will succeed Alton Lewis, who announced his retirement at the end of May.

Mineer has been a part of the First Guaranty family as the Mideast Area President since 2021 and brings over 35 years of banking experience to his new role. Most recently, Mineer served as President and CEO of Citizens Deposit Bank in Vanceburg, KY, since 2003, where he successfully grew the company from $89 million in assets to $650 million. Additionally, Mineer was Senior Vice President of Premier Financial Bancorp in Huntington, WV since 2013, where he re-engineered the entire deposit and loan origination processes, making them fully digital and virtual. He was instrumental in assisting the growth of Premier Financial Bancorp from a $500 million company to a $2.2 billion company.

Mineer stated, “I am very excited to shape this next chapter of First Guaranty Bank. Our focus will be to build on the strengths of the organization while simultaneously embracing new technological solutions designed to drive efficiencies into our business model. These efficiencies will decrease our cost and increase our speed to deliver financial products to our customer base and add revenue to our bottom line. The banks exemplary growth has created a strong asset revenue engine. We will next work to fine tune our capital to risk profile and improve our operating efficiency all designed to improve shareholder value.”

About First Guaranty Bancshares, Inc.
First Guaranty Bancshares, Inc. is the holding company for First Guaranty Bank, a Louisiana state-chartered bank. Founded in 1934, First Guaranty Bank offers a wide range of financial services and focuses on building client relationships and providing exceptional customer service. First Guaranty Bank currently operates thirty-five locations throughout Louisiana, Texas, Kentucky, and West Virginia. The Company’s common stock trades on the NASDAQ under the symbol FGBI and preferred stock under the symbol FGBIP. For more information, visit www.fgb.net.

Contact: Desiree Simmons, Chief Administrative Officer
First Guaranty Bank
(985) 375-0473/dbsimmons@fgb.net

FAQ

Who is the new President and CEO of First Guaranty Bancshares?

Michael Mineer has been appointed as the new President and CEO.

When did Alton Lewis announce his retirement from First Guaranty Bancshares?

Alton Lewis announced his retirement at the end of May 2024.

What previous role did Michael Mineer hold at First Guaranty Bancshares?

Michael Mineer was the Mideast Area President at First Guaranty since 2021.

How long has Michael Mineer been in the banking industry?

Michael Mineer has over 35 years of experience in the banking industry.

What was Michael Mineer's role at Citizens Deposit Bank?

He served as President and CEO of Citizens Deposit Bank from 2003.

How much did Michael Mineer grow Citizens Deposit Bank's assets?

He grew the assets from $89 million to $650 million.

What technological changes did Michael Mineer implement at Premier Financial Bancorp?

He re-engineered deposit and loan origination processes to be fully digital and virtual.

What is Michael Mineer's vision for First Guaranty Bancshares?

He aims to enhance efficiency, reduce costs, and boost revenue through technological solutions.