Company: FGBI
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001408534-25-000070
Chunk: 38

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-08-18
Form: 10-Q
Item: Part I, Item 1
Chunk 38
---
 fair value. Borrowings. The carrying amount of federal funds purchased and other short-term borrowings approximate their fair values. The fair value of First Guaranty's long-term borrowings is computed using net present value formulas. The present value is the sum of the present value of all projected cash flows on an item at a specified discount rate. The discount rate is set as an appropriate rate index, plus or minus an appropriate spread. Borrowings are classified within level 3 of the fair value hierarchy. The carrying amounts and estimated fair values of financial instruments at June 30, 2025 were as follows:Fair Value Measurements at June 30, 2025 Using(in thousands)Carrying AmountLevel 1Level 2Level 3TotalAssetsCash and due from banks$714,313 $714,313 $— $— $714,313 Federal funds sold557 557 — — 557 Securities, available for sale397,573 49,615 342,139 5,819 397,573 Securities, held for maturity322,149 — 260,080 — 260,080 Loans held for sale— — — — — Loans, net2,351,634 — — 2,316,332 2,316,332 Accrued interest receivable13,305 — — 13,305 13,305 LiabilitiesDeposits$3,481,338 $— $— $3,488,045 3,488,045 Repurchase agreements7,117 — — 7,134 7,134 Accrued interest payable19,498 — — 19,498 19,498 Long-term advances from Federal Home Loan Bank135,000 — — 136,225 136,225 Senior long-term debt14,186 — — 14,266 14,266 Junior subordinated debentures29,775 — — 29,775 29,775 

-30-

The carrying amounts and estimated fair values of financial instruments at December 31, 2024 were as follows:Fair Value Measurements at December 31, 2024 Using(in thousands)Carrying AmountLevel 1Level 2Level 3TotalAssetsCash and due from banks$563,778 $563,778