Company: FGBI
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001408534-25-000070
Chunk: 141

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-08-18
Form: 10-Q
Item: Part I, Item 8
Chunk 141
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 quarter of 2025. This relationship had no remaining principal balance as of June 30, 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  June 30, 2025.

4.First Guaranty charged off $0.3 million on a commercial and industrial loan during the second quarter of 2025. This relationship had no remaining principal balance as of June 30, 2025.

5.First Guaranty charged off $0.2 million on a commercial lease loan relationship during the second quarter of 2025. This relationship had a remaining principal balance of $1.2 million as of June 30, 2025.

6.Smaller loans and overdrawn deposit accounts comprised the remaining $1.1 million of charge-offs for the first six months of 2025.

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

(in thousands)Six Months EndedJune 30, 2025Six Months EndedJune 30, 2024Loans:  Average outstanding balance$2,541,990 $2,784,384 Balance at end of period$2,410,505 $2,833,350 Allowance for Credit Losses:Balance at beginning of year$34,811 $30,926 Charge-offs(8,017)(11,052)Recoveries409 504 Provision31,668 9,909 Balance at end of period$58,871 $30,287 

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 strategies used to manage interest-bearing deposit liabilities are designed to adjust as the interest rate environment changes. We regularly assess our funding needs, deposit pricing and interest rate outlooks. From December 31, 2024 to June 30, 2025, total deposits increased $5.1 million, or 0.1%, to $3.5 billion. Noninterest-bearing demand deposits increased $38.2 million, or 9.5%, to $442.3 million at June 30, 2025. The increase in noninterest-bearing demand deposits was primarily concentrated in business noninterest-bearing demand deposits.