Company: FGBI
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001408534-25-000036
Chunk: 163

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 163
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 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)March 31, 2025December 31, 2024Nonaccrual loans:  Real Estate:  Construction and land development$11,502 $3,624 Farmland2,177 2,619 1- 4 family10,582 10,053 Multifamily26,533 27,542 Non-farm non-residential72,949 54,171 Total Real Estate123,743 98,009 Non-Real Estate:  Agricultural1,798 1,992 Commercial and industrial6,152 6,762 Commercial leases1,533 1,533 Consumer and other167 233 Total Non-Real Estate9,650 10,520 Total nonaccrual loans133,393 108,529 Loans 90 days and greater delinquent & accruing:  Real Estate:  Construction and land development— 7,394 Farmland— — 1- 4 family— — Multifamily— — Non-farm non-residential387 4,108 Total Real Estate387 11,502 Non-Real Estate:  Agricultural— — Commercial and industrial— — Commercial leases— — Consumer and other— — Total Non-Real Estate— — Total loans 90 days and greater delinquent & accruing387 11,502 Total nonperforming loans133,780 120,031 Real Estate Owned:  Construction and land development— 226 Farmland— —