Company: FGBI
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001408534-25-000092
Chunk: 241

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 2
Chunk 241
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 that remain on accrual status. The commercial leases are serviced by a third party. The decrease in noninterest income was related to the net gains on sale of assets related to the sale-leaseback transaction from the prior year. Loan interest income decreased primarily due to the decrease in First Guaranty's loan portfolio. Securities interest income increased due to an increase in the average balance and average yield of the investment portfolio. Noninterest expense increased primarily due to the goodwill impairment charge of $12.9 million during the third quarter of 2025. Loss per common share for the three months ended September 30, 2025 was $(3.01) per common share, a decrease of $3.12 per common share from $0.11 per common share for the three months ended September 30, 2024. 

Nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. Net loss for the nine months ended September 30, 2025 was $58.5 million, a decrease of $69.9 million, from net income of $11.4 million for the nine months ended September 30, 2024. The decrease in net income for the nine months ended September 30, 2025 as compared to the prior year period was primarily the result of the provision to the credit allowance, the goodwill impairment charge, and a decrease in noninterest income. The increase in the provision for credit losses was related to changes within the portfolio, loan sales and charge-offs experienced in 2025. $39.8 million of the $79.1 million provision for the year was associated with one commercial lease relationship, as discussed above. The decrease in noninterest income was related to the decrease of net gains on sale of assets related to the sale-leaseback transaction from the prior year. Loan interest income decreased primarily due to the decrease in First Guaranty's loan portfolio. Securities interest income increased due to an increase in the average balance and average yield of the investment portfolio. Noninterest expense increased primarily due to the goodwill impairment charge of $12.9 million during the third quarter of 2025. Loss per common share for the nine months ended September 30, 2025 was $(4.45) per common share, a decrease of $5.23 per common share from $0.78 per common share for the nine months ended September 30, 2024. 

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Net Interest Income

Our operating results depend