Company: FGBI
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001408534-25-000070
Chunk: 69

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-08-18
Form: 10-Q
Item: Part I, Item 1
Chunk 69
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 basis points.

Six months ended June 30, 2025 compared to the six months ended June 30, 2024. Interest income increased $2.2 million, or 2.1%, to $108.8 million for the six months ended June 30, 2025 as compared to the prior year period. These factors contributed to the increase in interest income as the average balance of our total interest-earning assets, primarily associated with securities and interest-earning deposits with banks, increased, partially offset by the decrease in the average yield of interest-earning assets. The average balance of our interest-earning assets increased $388.0 million to $3.8 billion for the six months ended June 30, 2025 as compared to the same period in the prior year. The average yield of interest-earning assets decreased by 50 basis points to 5.74% for the six months ended June 30, 2025 compared to 6.24% for the six months ended June 30, 2024.

Interest income on securities increased $6.3 million to $11.3 million for the six months ended June 30, 2025 as compared to the prior year period primarily as a result of an increase in average balance and average yield of securities. The average balance of securities increased $282.8 million to $664.4 million for the six months ended June 30, 2025 from $381.6 million for the six months ended June 30, 2024 primarily due to a increase in the average balance of our U.S. Treasuries, mortgage-backed securities, and collateralized mortgage obligations securities portfolio compared to the prior year. The average yield on securities increased 80 basis points to 3.43% for the six months ended June 30, 2025 compared to 2.63% for the six months ended June 30, 2024 due to the increase in higher yielding securities. 

Interest income on loans decreased $10.5 million or 11.1%, to $84.0 million for the six months ended June 30, 2025 as compared to the prior year period as a result of a decrease in the average balance and average yield of loans. The average balance of loans (excluding loans held for sale) decreased by $242.4 million to