First Guaranty in La. raises another $10M via private placement

First Guaranty Bancshares in Hammond, La., raised $10 million through a private placement.

The $3.4 billion-asset company disclosed in a regulatory filing that it sold a million shares of common stock for $10 each. The company did not disclose the investors or what it plans to do with the proceeds.

First Guaranty sold 710,000 shares of common stock in May at $14 each, raising roughly $10 million. The company said at that time that it would use proceeds for a variety of purposes that could include supporting continued growth and enhancing regulatory capital ratios.