Company: FGBI
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001408534-25-000036
Chunk: 0

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
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Item 1.     Consolidated Financial Statements

FIRST GUARANTY BANCSHARES, INC. AND SUBSIDIARY

CONSOLIDATED BALANCE SHEETS (unaudited) 

(in thousands, except share data)March 31, 2025December 31, 2024Assets  Cash and cash equivalents:  Cash and due from banks$617,866 $563,778 Federal funds sold563 430 Cash and cash equivalents618,429 564,208 Interest-earning time deposits with banks250 250 Investment securities:  Available for sale, at fair value 273,027 281,097 Held to maturity, at cost and net of allowance for credit losses of $150 (estimated fair value of $259,641 and $251,458, respectively)321,883 321,622 Investment securities594,910 602,719 Federal Home Loan Bank stock, at cost9,835 9,706 Loans held for sale— — Loans, net of unearned income2,512,788 2,693,780 Less: allowance for credit losses43,022 34,811 Net loans2,469,766 2,658,969 Premises and equipment, net66,579 67,789 Goodwill12,900 12,900 Intangible assets, net3,265 3,474 Other real estate, net152 319 Accrued interest receivable14,574 14,850 Other assets38,609 37,544 Total Assets$3,829,269 $3,972,728 Liabilities and Shareholders' Equity  Deposits:  Noninterest-bearing demand$425,617 $404,056 Interest-bearing demand1,248,633 1,387,068 Savings243,701 234,444 Time1,421,515 1,450,692 Total deposits3,339,466 3,476,260 Short-term advances from Federal Home Loan Bank— — Short-term borrowings— — Repurchase agreements7,113 7,009 Accrued interest payable19,505 20,437 Long-term advances from Federal Home Loan Bank135,000 135,000 Senior long-term debt14,174 15,169 Junior sub