By Jim Forsyth

SAN ANTONIO (Reuters) - Former U.S. President George W. Bush and former first lady Laura Bush are celebrating the birth of their first grandchild.

Jenna Bush Hager gave birth to a daughter on Saturday night in New York City, according to a statement the former president's office in Dallas released on Sunday. Her husband, New York City investment banker Henry Hager, was a former staffer in the Bush White House.

"We met our beautiful granddaughter today," the statement from the Bushes said. "Our family is elated."

The baby, Margaret Laura Hager, is named after her two grandmothers, Laura Bush and Margaret Chase Hager, the wife of veteran Virginia Republican Party activist and former Virginia Lieutenant Governor John H. Hager. She will be known as "Mila."

Little Mila comes into the world with an impressive political heritage. Her grandfather and great-grandfather are both former U.S. presidents, and her great-great-grandfather, Prescott Bush, was a U.S. senator.

Jenna Bush Hager, 31, is a contributing correspondent for the "Today" television show and editor-at-large of Southern Living Magazine.

(Reporting by Jim Forsyth; Editing by Edith Honan and Eric Beech)