Company: FGBI
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001408534-25-000092
Chunk: 94

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 1
Chunk 94
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7 %30.1 %

Borrowings

First Guaranty maintains borrowing relationships with other financial institutions as well as the Federal Home Loan Bank on a short and long-term basis to meet liquidity needs. First Guaranty had $7.1 million in short-term borrowings outstanding at September 30, 2025 compared to $7.0 million at December 31, 2024. The short-term borrowings at September 30, 2025  and December 31, 2024 were comprised of repurchase agreements.

First Guaranty had long-term borrowings from the FHLB that totaled $135.0 million at September 30, 2025 and December 31, 2024. First Guaranty converted previous short-term floating rate borrowings from the FHLB into long-term lower fixed rate borrowings in order to reduce interest expense. First Guaranty has a $100.0 million FHLB advance that matures in the second quarter of 2027, and a $35.0 million FHLB advance that matures in the third quarter of 2027.

First Guaranty had senior long-term debt totaling $14.2 million as of September 30, 2025 and $15.2 million at December 31, 2024. 

First Guaranty had subordinated debt totaling $29.8 million at September 30, 2025 and $44.7 million at December 31, 2024. 

First Guaranty had $426.2 million in Federal Home Loan Bank letters of credit as of September 30, 2025 compared to $455.7 million at December 31, 2024. Federal Home Loan Bank letters of credit are obtained primarily for collateralizing public deposits. 

Total Shareholders' Equity

Total shareholders' equity decreased to $221.1 million at September 30, 2025 from $255.0 million at December 31, 2024. The decrease in shareholders' equity was principally the result of a decrease of $60.6 million in retained earnings, partially offset by an increase of $19.3 million in surplus, a decrease of $4.5 million in accumulated other comprehensive loss, and an increase of $2.8 million in common stock. The $60.6 million decrease in retained earnings was primarily due to net loss of $58.5 million during the nine months