Company: FGBI
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001408534-25-000092
Chunk: 84

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 1
Chunk 84
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 of interest has stopped or loans which are contractually 90 days past due on which interest continues to accrue. Loans are ordinarily placed on nonaccrual status when principal and interest is delinquent for 90 days or more. However, management may elect to continue the accrual when the asset is well secured and in the process of collection. It is our policy to discontinue the accrual of interest income on any loan for which we have reasonable doubt as to the payment of interest or principal. When a loan is placed on nonaccrual status, unpaid interest credited to income is reversed. Nonaccrual loans are returned to accrual status when the financial position of the borrower indicates there is no longer any reasonable doubt as to the payment of principal or interest and a reasonable payment performance period is observed (generally considered six months or longer). Other real estate owned consists of property acquired through formal foreclosure, in-substance foreclosure or by deed in lieu of foreclosure.

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The table below sets forth the amounts and categories of our nonperforming assets at the dates indicated. 

(in thousands)September 30, 2025December 31, 2024Nonaccrual loans:  Real Estate:  Construction and land development$8,707 $3,624 Farmland2,777 2,619 1- 4 family10,536 10,053 Multifamily23,998 27,542 Non-farm non-residential42,532 54,171 Total Real Estate88,550 98,009 Non-Real Estate:  Agricultural1,886 1,992 Commercial and industrial5,339 6,762 Commercial leases18,358 1,533 Consumer and other132 233 Total Non-Real Estate25,715 10,520 Total nonaccrual loans114,265 108,529 Loans 90 days and greater delinquent & accruing:  Real Estate:  Construction and land development— 7,394 Farmland— — 1- 4 family— — Multifamily— — Non-farm non-residential— 4,108 Total Real Estate— 11,502 Non-Real Estate:  Agricultural— — Commercial and industrial— — Commercial leases— — Consumer and other— — Total Non-Real Estate