Company: FGBI
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001408534-25-000015
Chunk: 187

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 187
---
 as of December 31, 2024 and 2023, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:(in thousands)December 31, 2024December 31, 2023Available for Sale Securities Fair Value Measurements Using:  Level 1: Quoted Prices in Active Markets For Identical Assets$147,780 $49,830 Level 2: Significant Other Observable Inputs127,222 23,172 Level 3: Significant Unobservable Inputs6,095 10,483 Securities available for sale measured at fair value$281,097 $83,485 First Guaranty's valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While Management believes the methodologies used are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value.The change in Level 1 securities available for sale from December 31, 2023 to December 31, 2024 was due to a net increase in Treasury bills of $98.0 million. There were no transfers between Level 1 and 2 securities available for sale from December 31, 2023 to December 31, 2024. There were no transfers between Level 2 and Level 3 from December 31, 2023 to December 31, 2024. 

-105-

The following table reconciles assets measured at fair value on a recurring basis using unobservable inputs (Level 3):Level 3 Changes(in thousands)December 31, 2024December 31, 2023Balance, beginning of year$10,483 $11,102 Total gains or losses (realized/unrealized):Included in earnings— — Included in other comprehensive income230 (38)Purchases, sales, issuances and settlements, net(4,618)(581)Transfers in and/or out of Level 3— — Balance as of end of year$6,095 $10,483 There were no gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets still held as of December 31, 2024.The following table measures financial assets and financial liabilities measured at fair value on a non-recurring basis as of December 31, 202