Louisiana bank First Guaranty Bancshares sets terms for $91 million NASDAQ uplisting

First Guaranty Bancshares, a Louisiana bank with 21 branches and $1.5 billion in assets, announced terms for its IPO on Monday. The Hammond, LA-based company plans to raise $91 million by offering 4.6 million shares (22% insider) at a price range of $19 to $21. At the midpoint of the proposed range, First Guaranty Bancshares would command a fully diluted market value of $197 million.

June 2014 Louisiana bank IPO and peer Investar Holding (ISTR) is trading near its offer price.

First Guaranty Bancshares, which was founded in 1934 and booked $49 million in net interest and noninterest income for the 12 months ended September 30, 2014, plans to list on the NASDAQ under the symbol FGBI. Raymond James is the sole bookrunner on the deal. First Guaranty has not selected a pricing week.