Company: FGBI
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001408534-25-000092
Chunk: 80

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 1
Chunk 80
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 first quarter of 2025. The loan was originated in 2020 and is on accrual status.

9.A $11.5 million construction loan for the development of a truck stop and convenience store located in Louisiana. The loan was designed substandard in the first quarter of 2025. The loan was originated in 2022 and is on accrual status.

10.A $8.3 million loan relationship secured by an assisted living center located in Texas; the loan was placed on nonaccrual in the third quarter of 2025. The loan was originated in 2023.

Top 10 Substandard Relationships Current BalanceAllocated ReserveOrigination Year(s)LocationRelationship Description    1Commercial Leases$51,954 $39,739 2021-2024Multiple States2Construction Business47,000 — 2022-2024Louisiana & Texas3Hospital23,750 — 2021Arkansas4Independent Living Center18,070 10,460 2023Louisiana5Subdivision Development15,746 — 2023Texas6Apartment Complex15,390 — 2022Texas7Assisted Living Center15,121 — 2019Louisiana8Commercial Retail Shopping Center13,857 — 2020Oklahoma9Convenience Store11,514 — 2022Louisiana10Assisted Living Center8,252 — 2023Texas$220,654 $50,199 

Special mention loans increased by $86.5 million in 2025. The increase in special mention loans was primarily the result of downgrades during 2025. The details of the top 10 special mention loan relationships as of September 30, 2025 are listed below:

1.A $40.7 million multifamily loan relationship secured by an apartment complex in Louisiana.  The loan is on accrual status. The loan was designated as special mention in the third quarter of 2025.  The loan was originated in 2021.

2.A $39.6 million loan relationship to a manufacturing company secured by real estate and business assets located in Louisiana. The loan is on accrual status.  The loan was designated special mention in the third quarter of 2025.  The loan relationship is over ten years old.

3.A $20.3 million loan relationship to a marine industry company secured by real estate. The loan was designated special mention in the first quarter of 2025. The loan was