Company: FGBI
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001408534-25-000070
Chunk: 117

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-08-18
Form: 10-Q
Item: Part I, Item 8
Chunk 117
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 no gains or losses for the period included in earnings attributable to the change in unrealized gains or losses related to assets still held as of June 30, 2025.The following table measures financial assets and financial liabilities measured at fair value on a non-recurring basis as of June 30, 2025 and December 31, 2024, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value: (in thousands)At June 30, 2025At December 31, 2024Fair Value Measurements Using: Loans Individually Evaluated for Impairment  Level 1: Quoted Prices in Active Markets For Identical Assets$— $— Level 2: Significant Other Observable Inputs— — Level 3: Significant Unobservable Inputs73,019 50,449 Loans individually evaluated for impairment measured at fair value$73,019 $50,449 Fair Value Measurements Using: Other Real Estate Owned  Level 1: Quoted Prices in Active Markets For Identical Assets$— $— Level 2: Significant Other Observable Inputs7,657 319 Level 3: Significant Unobservable Inputs— — Other real estate owned measured at fair value$7,657 $319 ASC 825-10 provides First Guaranty with an option to report selected financial assets and liabilities at fair value. The fair value option established by this statement permits First Guaranty to choose to measure eligible items at fair value at specified election dates and report unrealized gains and losses on items for which the fair value option has been elected in earnings at each reporting date subsequent to implementation. First Guaranty has chosen not to elect the fair value option for any items that are not already required to be measured at fair value in accordance with accounting principles generally accepted in the United States.

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Note 12. Financial Instruments

 Fair value estimates are generally subjective in nature and are dependent upon a number of significant assumptions associated with each instrument or group of similar instruments, including estimates of discount rates, risks associated with specific financial instruments, estimates of future cash flows and relevant available market information. Fair value information is intended to represent an estimate of an amount at which a financial instrument could be exchanged in a current transaction between a willing buyer and seller engaging in an exchange transaction. However, since there are no established trading markets for a significant portion of First Guaranty's financial instruments, First Guaranty may not be