Company: FGBI
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001408534-25-000070
Chunk: 146

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-08-18
Form: 10-Q
Item: Part I, Item 8
Chunk 146
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 the decrease in First Guaranty's loan portfolio. Securities interest income increased due to an increase in the average balance and average yield of the investment portfolio. Noninterest expense decreased primarily due to decreased personnel expenses and legal and professional fees. Loss per common share for the three months ended June 30, 2025 was $(0.61) per common share, a decrease of $1.14 per common share from $0.53 per common share for the three months ended June 30, 2024. 

Six months ended June 30, 2025 compared to the six months ended June 30, 2024. Net loss for the six months ended June 30, 2025 was $13.5 million, a decrease of $23.0 million, from net income of $9.5 million for the six months ended June 30, 2024. The decrease in net income for the six months ended June 30, 2025 as compared to the prior year period was primarily the result of the provision to the credit allowance and a decrease in noninterest income.  The increase in the provision for credit losses was related to changes within the portfolio, loan sales and charge-offs experienced in 2025. The decrease in noninterest income was related to the decrease of net gains on sale of assets related to the sale-leaseback transaction from the prior year. This was partially offset by an increase in interest income and a decrease in noninterest expense. Loan interest income decreased primarily due to the decrease in First Guaranty's loan portfolio. Securities interest income increased due to an increase in the average balance and average yield of the investment portfolio. Noninterest expense decreased primarily due to decreased personnel expenses and legal and professional fees. Loss per common share for the six months ended June 30, 2025 was $(1.15) per common share, a decrease of $1.82 per common share from $0.67 per common share for the six months ended June 30, 2024. 

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Net Interest Income

Our operating results depend primarily on our net interest income, which is the difference between interest income earned on interest-earning assets, including loans and securities, and interest expense incurred on interest-bearing liabilities, including deposits and other borrowed funds. Interest rate fluctuations, as well as changes in the amount and type of interest-earning assets and interest-bearing liabilities, combine to affect net interest income. First Guaranty’s assets and liabilities are generally most affected by changes in the