On April 12, First Security Group (
) completed its "Strategic Recapitalization" program. On April
11, the company issued 9.9 million shares of its common stock to
the U.S. Treasury. The Treasury then sold those shares to
previously named investors of the company for $1.50 per share.
First Security sold an additional 50.8 million shares at $1.50.
In total investors purchased 60,735,000 shares for $91.1 million.
Along with these investors, several insiders took advantage of
this decrease in share prices. Seven directors and four corporate
officers took home a total of 557,908 shares of First Security
Group stock. These transactions cost the insiders a total of
To view the complete list of insiders making buys,
First Security Group is a bank holding company for FSG Bank. The
company serves the banking communities in Tennessee and Georgia.
The company offers standard banking services such as checking and
savings account management as well as a loan department and
wealth management department.
According to the
, First Security Group's revenue has been in decline for the past
five years. Despite this, the company has enough cash to cover
all of its debt. The
of First Security also report a negative operating and net income
Market Cap: 4.3 M
Shiller P/E: 11.4
52 Week Low: 1.30
52 Week High: 3.44
Average Volume: 13,375
Guru Michael Price bought 6,080,000 shares of FSGI on April 11.
With its price up 2.02%, First Security Group trades at
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