Company: FGBI
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001408534-25-000015
Chunk: 142

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 142
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 borrowings, net of costs29,700 195,097 Repayment of long-term borrowings(44,030)(22,946)Common stock issued in private placement— 20,000 Dividends paid on preferred stock(2,328)(2,328)Dividends paid on common stock(5,127)(7,370)Net Cash Provided By Financing Activities386,093 387,610 Net Increase In Cash and Cash Equivalents277,753 203,236 Cash and Cash Equivalents at the Beginning of the Period286,455 83,219 Cash and Cash Equivalents at the End of the Period$564,208 $286,455 Noncash Activities:  Acquisition of real estate in settlement of loans$423 $1,388 Common stock issued for stock grants$334 $750 Cash Paid During the Period:Interest on deposits and borrowed funds$124,638 $90,786 Federal income taxes$— $3,100 State income taxes$— $330 

See Notes to Consolidated Financial Statements.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 1. Business and Summary of Significant Accounting Policies

BusinessFirst Guaranty Bancshares, Inc. ("First Guaranty") is a Louisiana corporation and a financial holding company headquartered in Hammond, LA. First Guaranty owns all of the outstanding shares of common stock of First Guaranty Bank. First Guaranty Bank (the "Bank") is a Louisiana-chartered commercial bank that offers a wide range of financial services and focuses on building client relationships and providing exceptional customer service. These services include consumer and commercial lending, mortgage loan origination, the issuance of credit cards and retail banking services. The Bank also maintains an investment portfolio comprised of government, government agency, corporate, and municipal securities. The Bank has thirty-five banking facilities and fifty-four automated teller machines (ATMs) in Southeast, Southwest, Central and North Louisiana, North Central Texas, Kentucky and West Virginia.Summary of significant accounting policiesThe accounting and reporting policies of First Guaranty conform to generally accepted accounting principles and to predominant accounting practices within the banking industry. The more significant accounting and reporting policies are as follows:ConsolidationThe consolidated financial statements include the accounts of First Guaranty Bancshares, Inc., and its wholly owned subsidiary, First Guaranty Bank. All significant intercompany balances and transactions have been eliminated in