First Guaranty Bancshares Inc., the parent company of Hammond, Louisiana-based First Guaranty Bank, has entered into a purchase and assumption agreement for the sale of its Texas operations to Muskogee, Oklahoma-based Armstrong Bank, according to S&P Global Market Intelligence. The transaction, already approved by the boards of both companies, is expected to close in the third quarter of this year.

Under the agreement, First Guaranty will fully exit the Texas market, selling five branches—four in the Dallas/Fort Worth metroplex and one in Waco. The deal covers about $270 million in deposits and $110 million in loans, according to S&P.

Michael Mineer, president and CEO of First Guaranty, says the move is intended to reinforce the bank’s capital position and allow it to concentrate on markets it views as most important to its long-term strategy, according to a company press release.

Ryan Quidley, Armstrong Bank president and CEO, notes that the acquisition extends the bank’s footprint into Texas, adding locations in Fort Worth, Denton, McKinney, Waco and Garland.

Piper Sandler served as financial adviser and Fenimore Kay Harrison LLP provided legal counsel to First Guaranty. Performance Trust Capital Partners LLC served as financial adviser and McAfee and Taft provided legal counsel to Armstrong Bank.

As of December 31, 2025, Armstrong Bank, a subsidiary of Ironhorse Financial Group Inc., had approximately $2.67 billion in total assets, while First Guaranty had approximately $4.08 billion in total assets, according to S&P data.

First Guaranty Bank currently operates 31 locations throughout Louisiana, Texas, Kentucky and West Virginia.