Company: FGBI
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001408534-25-000036
Chunk: 77

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 77
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-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures" (ASU 2024-03") requires the disaggregation of certain expenses in the notes to the financial statements, to provide enhanced transparency into the expense captions presented on the face of the income statement. The amendments in ASU 2024-03 are effective for annual reporting periods beginning after December 31, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The amendments in this ASU may be applied either prospectively or retrospectively. The Company is currently evaluating the impact that this update will have on its disclosures in the consolidated financial statements.

-10-

Note 3. Securities

 A summary comparison of securities by type at March 31, 2025 and December 31, 2024 is shown below.  March 31, 2025December 31, 2024(in thousands)Amortized CostGrossUnrealized GainsGrossUnrealized LossesFair ValueAmortized CostGross Unrealized GainsGrossUnrealized LossesFair ValueAvailable for sale:        U.S. Treasuries$49,173 $— $(62)$49,111 $147,840 $33 $(93)$147,780 U.S. Government Agencies— — — — — — — — Corporate debt securities12,250 70 (514)11,806 12,250 — (668)11,582 Municipal bonds16,485 132 (521)16,096 21,736 220 (339)21,617 Collateralized mortgage obligations44,036 159 (49)44,146 32,065 — (446)31,619 Mortgage-backed securities152,511 419 (1,062)151,868 70,430 — (1,931)68,499 Total available for sale securities$274,455 $780 $(2,208)$273,027 $284,321 $253 $(3,477)$281,097 Held to maturity:        U.S. Government Agencies$266,978 $— $(57,559)$209,419 $266,761 $— $(64,671)$202,090 Corporate debt securities