Company: FGBI
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001408534-25-000015
Chunk: 103

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 7
Chunk 103
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U.S. Government Agencies— — %— — %— — %— 2.3— %Corporate debt securities— — %1,451 8.1 %10,131 5.5 %— — %Municipal bonds6,056 5.7 %4,494 4.1 %8,402 4.1 %2,602 3.5 %Collateralized mortgage obligations— — %— — %4,132 4.6 %27,486 4.3 %Mortgage-backed securities— — %1 5.3 %3 6.4 %68,495 4.4 %Total available for sale securities$153,836 4.3 %$5,946 5.1 %$22,668 4.8 %$98,583 4.4 %Held to maturity:U.S. Government Agencies$— — %$— — %$87,143 2.4 %$179,619 2.4 %Corporate debt securities$— — %$6,420 3.3 %$48,591 3.2 %$— — %Total held to maturity securities$— — %$6,420 3.3 %$135,734 2.7 %$179,619 2.4 %

At December 31, 2024, $153.8 million, or 25.5%, of the securities portfolio was scheduled to mature in less than one year. Securities, not including mortgage-backed securities and collateralized mortgage obligations, with contractual maturity dates over 10 years totaled $182.2 million, or 30.2%, of the total portfolio at December 31, 2024. We closely monitor the investment portfolio's yield, duration, and maturity to ensure a satisfactory return. The average maturity of the securities portfolio is affected by call options that may be exercised by the issuer of the securities and are influenced by market interest rates. Prepayments of mortgages that collateralize mortgage-backed securities also affect the maturity of the securities portfolio. 

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Deposits

Managing the mix and pricing the maturities of deposit liabilities is an important factor affecting our ability to maximize our net interest margin. The