Company: FGBI
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001408534-25-000036
Chunk: 126

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 126
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 the portfolio, and a $1.3 million increase in the allowance for loan individually evaluated.

•Non-farm non-residential loans decreased by $42.7 million during the first three months of 2025. The allowance increase related to this portfolio was due to changes in the qualitative analysis of the portfolio related to economic conditions, and a $3.5 million increase in the allowance for loans individually evaluated. 

•Commercial and industrial loans decreased $23.0 million during the first three months of 2025. The allowance increase related to this portfolio was due to changes in the qualitative analysis of the portfolio.

•Commercial leases decreased $36.2 million during the first three months of 2025. The allowance increase related to this portfolio was due to changes in the qualitative analysis of the portfolio.

•Consumer and other loans decreased $2.5 million during the first three months of 2025. The decrease in the related loan loss allowance balance was due primarily to charge-offs and qualitative analysis of the portfolio.

First Guaranty charged off $6.9 million in loan balances during the first three months of 2025. The details of the $6.9 million in charged-off loans were as follows:

1.First Guaranty charged off $0.4 million in consumer loans during the first quarter of 2025. The consumer loan charge offs included $0.1 million in credit card loans, $0.1 million of loans secured by automobiles or equipment, and $0.2 million in unsecured loans.

2.First Guaranty charged off $4.9 million on a construction and land development loan that was subsequently sold during the first quarter of 2025. This relationship had no remaining principal balance as of March 31, 2025.

3.First Guaranty charged off $0.9 million on a construction and land development loan that was subsequently sold during the first quarter of 2025. This relationship had no remaining principal balance as of  March 31, 2025.

4.Smaller loans and overdrawn deposit accounts comprised the remaining $0.7 million of charge-offs for the first quarter of 2025.

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Other information related to the allowance for credit losses is as follows: 

(in thousands)Three Months EndedMarch 31, 2025Three Months EndedMarch 31, 2024Loans:  Average outstanding balance$2,624,913 $2,761,533 Balance at end of period$2,512,