Company: FGBI
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001408534-25-000070
Chunk: 184

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-08-18
Form: 10-Q
Item: Part I, Item 2
Chunk 184
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 Commercial lease loan balances decreased $61.0 million primarily due to paydowns on the existing lease portfolio. First Guaranty's commercial lease portfolio generally has higher yields than commercial real estate loans but shorter average lives. Multifamily loans decreased $20.3 million primarily due to paydowns. Commercial and industrial loans decreased $19.4 million primarily due to paydowns. One-to-four family residential loans decreased $9.9 million primarily due to paydowns. Farmland loans decreased $3.7 million primarily due to seasonal activity. Consumer and other loans decreased $4.0 million primarily due to paydowns. Agricultural loans increased $2.1 million due to seasonal activity. First Guaranty had approximately 3.7% of funded and 1.6% of unfunded commitments in our loan portfolio to businesses engaged in support or service activities for oil and gas operations. First Guaranty's hotel and hospitality portfolio totaled $164.3 million at June 30, 2025. As part of the management of risks in our loan portfolio, First Guaranty had previously established an internal guidance limit of approximately $200.0 million for its hotel and hospitality portfolio. First Guaranty had $311.1 million in loans related to our Texas markets at June 30, 2025 compared to $407.1 million at December 31, 2024.  First Guaranty had $330.9 million in loans related to our Mideast markets in Kentucky and West Virginia at June 30, 2025 compared to $335.5 million at December 31, 2024. Syndicated loans at June 30, 2025 were $52.7 million, of which $24.2 million were shared national credits. Syndicated loans decreased $1.2 million from $53.9 million at December 31, 2024. 

As of June 30, 2025, 80.1% of our loan portfolio was secured by real estate. The largest portion of our loan portfolio, at 43.5% as of June 30, 2025, was non-farm non-residential loans secured by real estate. Approximately 55.3% of the loan portfolio was based on a floating rate tied to the prime rate, Secured Overnight Financing Rate ("SOFR