Company: FGBI
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001408534-25-000015
Chunk: 114

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 7
Chunk 114
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 assets to interest-bearing liabilities119.00 %125.02 %

(1)Includes Federal Reserve balances reported in cash and due from banks on the consolidated balance sheets.

(2)Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.

(3)Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities.

(4)Net interest margin represents net interest income divided by average total interest-earning assets.

(5)The tax adjusted net interest margin was 2.47% and 2.69% for the years ended December 31, 2024 and 2023. A 21% tax rate was used to calculate the effect on securities income from tax exempt securities for the years ended December 31, 2024 and 2023. 

(6)Includes loan fees of $7.1 million and $6.0 million for the years ended December 31, 2024 and 2023. 

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Volume/Rate Analysis.

The following table presents the dollar amount of changes in interest income and interest expense for major components of interest-earning assets and interest-bearing liabilities for the years indicated. The table distinguishes between: (1) changes attributable to volume (changes in volume multiplied by the prior year's rate); (2) changes attributable to rate (change in rate multiplied by the prior year's volume) and (3) total increase (decrease) (the sum of the previous columns). Changes attributable to both volume and rate are allocated ratably between the volume and rate categories.

 For the Years Ended December 31, 2024 vs. 2023Increase (Decrease) Due To(in thousands except for %)VolumeRateIncrease/DecreaseInterest earned on:   Interest-earning deposits with banks$10,952 $179 $11,131 Securities (including FHLB stock)1,363 2,961 4,324 Federal funds sold— — — Loans held for sale— — — Loans, net of unearned income11,259 11,983 23,242 Total interest income23,574 15,123 38,697 Interest paid on:   Demand deposits2,180 2,908 5,088 Savings deposits309 1,310 1,619 Time deposits16,260 8,939