Company: FGBI
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001408534-25-000036
Chunk: 94

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 94
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Note 5. Allowance for Credit Losses on Loans

 A summary of changes in the allowance for credit losses, by portfolio type, for the three months ended March 31, 2025 and 2024 are as follows: For the Three Months Ended March 31,2025(in thousands)Beginning Allowance (12/31/2024)Charge-offsRecoveriesProvisionEnding Allowance (3/31/2025)Real Estate:Construction & land development$3,930 $(5,794)$— $8,285 $6,421 Farmland50 — — — 50 1- 4 family9,243 — 10 618 9,871 Multifamily3,949 — — 1,345 5,294 Non-farm non-residential11,531 — 5 3,584 15,120 Total Real Estate28,703 (5,794)15 13,832 36,756 Non-Real Estate:Agricultural204 (169)— 52 87 Commercial and industrial1,994 (418)25 514 2,115 Commercial leases1,719 — — 107 1,826 Consumer and other1,337 (496)200 107 1,148 Unallocated854 — — 236 1,090 Total Non-Real Estate6,108 (1,083)225 1,016 6,266 Total Loans$34,811 $(6,877)$240 $14,848 $43,022 Unfunded lending commitments1,210 — — (300)910 Total$36,021 $(6,877)$240 $14,548 $43,932  For the Three Months Ended March 31, 2024(in thousands)Beginning Allowance (12/31/2023)Charge-offsRecoveriesProvisionEnding Allowance (3/31/2024)Real Estate:Construction & land development$5,845 $— $1 $(1,016)$4,830 Farmland36 — — 27 63 1- 4 family6,653 (41)3 (20)6,595 Multifamily1,614 — — 163 1,777