On March 20, 2026, First Guaranty Bancshares, Inc. (the "Company") executed the Second Amendment to the Promissory Note with Smith & Tate Investment, L.L.C. This amendment modifies the terms of a previously established Promissory Note dated October 5, 2023, which was initially amended on June 4, 2025. The latest amendment extends the waiver of principal payments for an additional two years, allowing the Company to maintain liquidity during this period. The amendment also provides the option for interest payments to be made in cash or in shares of common stock, which could potentially dilute existing shareholders but offers flexibility in managing cash flow. This strategic move is aimed at improving the Company's financial position amidst ongoing market challenges. The terms of the Second Amendment are detailed in the filing, which includes provisions for the payment structure and the implications for shareholders. The Company believes that these adjustments will enhance its operational execution and strategic outlook, positioning it for future growth while navigating current economic conditions.

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