Company: FGBI
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001408534-25-000070
Chunk: 197

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-08-18
Form: 10-Q
Item: Part I, Item 2
Chunk 197
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 higher yielding loans to improve the net interest margin and earnings. Total public funds collateralized by reciprocal deposit insurance programs decreased to $514.7 million at June 30, 2025 compared to $609.4 million at December 31, 2024.

The following table sets forth public funds as a percent of total deposits.

(in thousands except for %)June 30, 2025December 31, 2024Public Funds:  Noninterest-bearing Demand$4,721 $4,385 Interest-bearing Demand981,771 915,067 Savings50,863 48,925 Time69,551 78,420 Total Public Funds$1,106,906 $1,046,797 Total Deposits$3,481,338 $3,476,260 Total Public Funds as a percent of Total Deposits31.8 %30.1 %

Borrowings

First Guaranty maintains borrowing relationships with other financial institutions as well as the Federal Home Loan Bank on a short and long-term basis to meet liquidity needs. First Guaranty had $7.1 million in short-term borrowings outstanding at June 30, 2025 compared to $7.0 million at December 31, 2024. The short-term borrowings at June 30, 2025 were comprised of repurchase agreements of $7.1 million. The short-term borrowings outstanding at December 31, 2024 were comprised of repurchase agreements of $7.0 million. 

First Guaranty had long-term borrowings from the FHLB that totaled $135.0 million at June 30, 2025 and December 31, 2024. First Guaranty converted previous short-term floating rate borrowings from the FHLB into long-term lower fixed rate borrowings in order to reduce interest expense. First Guaranty has a $100.0 million FHLB advance that matures in the second quarter of 2027, and a $35.0 million FHLB advance that matures in the third quarter of 2027.

First Guaranty had senior long-term debt totaling $14.2 million as of June 30, 2025 and $15.2 million at December 31, 2024. 

First Guaranty had subordinated debt totaling $29.8 million at June 30, 2025 and $44.7 million at December 31,