Company: FGBI
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001408534-25-000036
Chunk: 180

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 180
---
 additional increases to the allowance for credit losses in future periods.

There was no provision for credit losses on AFS or HTM securities in the three months ended March 31, 2025 and 2024.

Noninterest Income

Our primary sources of recurring noninterest income are customer service fees, ATM and debit card fees, loan fees, gains on the sales of loans and available for sale securities and other service fees. Noninterest income does not include loan origination fees which are recognized over the life of the related loan as an adjustment to yield using the interest method.

Noninterest income totaled $2.4 million for the three months ended March 31, 2025, an increase of $46,000 from $2.3 million for the three months ended March 31, 2024. The increase was primarily due to increased service charges, commissions and fees. Service charges, commissions and fees totaled $0.8 million for the three months ended March 31, 2025 and $0.7 million for the same period in 2024. ATM and debit card fees totaled $0.7 million for the three months ended March 31, 2025 and $0.8 million for the same period in 2024. Net securities losses were $0 for the three months ended March 31, 2025 and 2024. Net gains on the sale of loans were $0 for the three months ended March 31, 2025 and 2024. Net gains on the sale of assets were $4,000 for the three months ended March 31, 2025 compared to $6,000 for the same period in 2024. Other noninterest income totaled $0.8 million for the three months ended March 31, 2025 and 2024.

-46-

Noninterest Expense

Noninterest expense includes salaries and employee benefits, occupancy and equipment expense and other types of expenses. Noninterest expense totaled $18.0 million for the three months ended March 31, 2025 and $18.9 million for the three months ended March 31, 2024. Salaries and benefits expense totaled $8.4 million for the three months ended March 31, 2025 and $9.9 million for the three months ended March 31, 2024. Occupancy and equipment expense totaled $2.6 million for the three months ended March 31, 2025 and $2.3 million for