Company: FGBI
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001408534-25-000070
Chunk: 92

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-08-18
Form: 10-Q
Item: Part I, Item 8
Chunk 92
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Available for sale:         U.S. Treasuries2 $48,615 $(93)— $— $— 2 $48,615 $(93)U.S. Government Agencies— — — — — — — — — Corporate debt securities2 1,965 (35)12 9,617 (633)14 11,582 (668)Municipal bonds2 505 (4)34 5,406 (335)36 5,911 (339)Collateralized mortgage obligations8 31,619 (446)— — — 8 31,619 (446)Mortgage-backed securities15 65,089 (1,721)6 3,410 (210)21 68,499 (1,931)Total available for sale securities29 $147,793 $(2,299)52 $18,433 $(1,178)81 $166,226 $(3,477)Held to maturity:U.S. Government Agencies— $— $— 29 $202,090 $(64,671)29 $202,090 $(64,671)Corporate debt securities1 322 (3)56 49,046 (5,640)57 49,368 (5,643)Total held to maturity securities1 $322 $(3)85 $251,136 $(70,311)86 $251,458 $(70,314)As of June 30, 2025, 178 of First Guaranty's debt securities had unrealized losses totaling 12.7% of the individual securities' amortized cost basis and 8.9% of First Guaranty's total amortized cost basis of the investment securities portfolio. 129 of the 178 securities had been in a continuous loss position for over 12 months at such date. The 129 securities had an aggregate amortized cost basis of $337.0 million and an unrealized loss of $63.2 million at June 30, 2025. Management has the intent and ability to hold these debt securities until maturity or until anticipated recovery.

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Securities are evaluated for impairment from credit losses at least quarterly and more frequently when economic or market conditions warrant such evaluation. Consideration is given to (i)