Eric J. Dosch
About Eric J. Dosch
Eric J. Dosch, 46, is Chief Financial Officer, Treasurer, and Secretary of First Guaranty Bancshares, Inc. and First Guaranty Bank, serving as an executive officer since 2010 and with the bank since 2003 in commercial lending and credit roles including Chief Credit Officer. He is a CFA Charterholder, a graduate of the Graduate School of Banking at Louisiana State University, and holds an undergraduate degree from Duke University (2001) . Company net income improved to $10.119 million in 2024 from $6.890 million in 2023, following $26.556 million in 2022, framing performance context during his tenure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| First Guaranty Bank | CFO (Bank and Holding Company) | 2010–present | Senior financial leadership through multiple cycles |
| First Guaranty Bank | Chief Credit Officer; commercial lending and credit roles | 2003–2010 | Credit risk management and lending leadership |
| Livingston & Jefferson (private asset management) | Financial Analyst | Pre-2003 | Analytical foundation for finance and investments |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Smitty’s Supply Inc. | Director | 2021–present | External board experience in manufacturing/distribution |
Fixed Compensation
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary ($) | $172,290 | $180,110 | $186,000 |
Performance Compensation
| Year | Metric | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| 2024 | Cash bonus | Not disclosed | Not disclosed | $5,000 | N/A |
| 2024 | Holiday bonus (1 week base pay) | Not disclosed | Not disclosed | $3,571 | N/A |
| 2024 | Stock bonus (Equity Bonus Plan) | Discretionary | Not disclosed | $55,557 value | 100% upon receipt within plan terms |
| 2023 | Cash bonus | Not disclosed | Not disclosed | $10,000 | N/A |
| 2023 | Holiday bonus (1 week base pay) | Not disclosed | Not disclosed | $3,571 | N/A |
| 2023 | Stock bonus (Equity Bonus Plan) | Discretionary | Not disclosed | 561 (units stated) | 100% upon receipt within plan terms |
- Performance metrics used to determine bonuses may include net income, ROAA, and ROAE; criteria are set at year-end and not necessarily communicated to officers .
- Outstanding equity awards: none for named executive officers as of year-end (no options or unvested stock/units) .
- First Guaranty Bank Equity Bonus Plan provided discretionary stock awards, 100% vested upon receipt; the plan automatically terminated on May 19, 2024 .
Equity Ownership & Alignment
| Holder | Shares Beneficially Owned | % of Shares Outstanding | Breakdown / Notes |
|---|---|---|---|
| Eric J. Dosch | 30,154 | 0.2% | Includes 364 shares as custodian for minors, 147 shares owned by spouse, and 732 shares held in a trust |
| Ownership Policy | — | — | Company encourages ownership; no formal ownership requirements |
| Hedging/Pledging | — | — | Company has no policy restricting hedging; no pledge disclosure for Dosch (pledge noted for Chairman Reynolds only) |
Employment Terms
| Provision | Status | Detail |
|---|---|---|
| Employment Agreement | None | No employment, severance, or change-in-control agreement |
| Severance | None | No severance provisions for NEOs |
| Change-in-Control | None | No CIC protections; as of 12/31/2024, no payments would be due beyond death benefits under life insurance |
| Equity Acceleration | Not applicable | No outstanding unvested equity to accelerate |
| Clawback | Not disclosed | Not specified in proxy narratives; pay-versus-performance provided per Item 402(v) |
| Tax Gross-ups | Not disclosed | No gross-ups disclosed for NEOs |
| Non-compete/Non-solicit | Not disclosed | Not specified in filings |
| Insider Trading Policy | Adopted | Policy governs trading and disclosure of MNPI (filed as Exhibit 19.1 to 2024 10-K) |
| Hedging Policy | No restriction | Company does not have a hedging policy limiting hedging transactions |
Company Performance Context
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Net Income ($) | $26,556,000 | $6,890,000 | $10,119,000 |
Compensation Committee & Governance Notes
- Compensation Committee: Marshall T. Reynolds (Chair) and William K. Hood; both independent; no outside compensation consultant used in 2024 or 2023 .
- Bonus determination considers company performance and individual contributions; market peer pay in geographic area and asset size may be considered .
- Say-on-pay proposals presented annually; advisory vote recommended “FOR” by the Board .
Investment Implications
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Pay-for-performance alignment is modest: compensation relies on base salary and discretionary cash/stock bonuses without explicit multi-year performance award structures or options; metrics include net income/ROAA/ROAE but targets/weightings are undisclosed, limiting transparency .
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Retention risk appears low-to-moderate structurally: absence of employment/CIC protections and unvested equity reduces lock-in; immediate-vesting stock bonuses increase flexibility and potential near-term liquidity for recipients .
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Ownership alignment is limited by small personal stake (0.2%); no formal ownership requirement; company permits hedging and does not disclose pledging by Dosch, reducing alignment safeguards versus best-practice policies .
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Execution context: company net income improved in 2024 versus 2023 after a large 2022 result, but absence of disclosed TSR or revenue targets in compensation makes it difficult to tie pay outcomes to shareholder value creation quantitatively .
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Related governance signals: no late Section 16 filings attributed to Dosch; board and committee structures are conventional; insider trading policy is in place though hedging is not restricted .