Company: FGBI
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001408534-25-000092
Chunk: 91

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 1
Chunk 91
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 $0.4 million on a one-to-four family loan relationship during the third quarter of 2025. This relationship had a remaining principal balance of $0.7 million as of September 30, 2025.

10.Smaller loans and overdrawn deposit accounts comprised the remaining $1.5 million of charge-offs for the first nine months of 2025.

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Other information related to the allowance for credit losses is as follows: 

(in thousands)Nine Months EndedSeptember 30, 2025Nine Months EndedSeptember 30, 2024Loans:  Average outstanding balance$2,476,128 $2,793,397 Balance at end of period$2,279,741 $2,833,350 Allowance for Credit Losses:Balance at beginning of year$34,811 $30,926 Charge-offs(29,361)(11,052)Recoveries662 504 Provision79,601 9,909 Balance at end of period$85,713 $30,287 

Deposits

Managing the mix and pricing the maturities of deposit liabilities is an important factor affecting our ability to maximize our net interest margin. The strategies used to manage interest-bearing deposit liabilities are designed to adjust as the interest rate environment changes. We regularly assess our funding needs, deposit pricing and interest rate outlooks. From December 31, 2024 to September 30, 2025, total deposits decreased $121.4 million, or 3.5%, to $3.4 billion. Noninterest-bearing demand deposits decreased $7.2 million, or 1.8%, to $396.9 million at September 30, 2025. The decrease in noninterest-bearing demand deposits was primarily concentrated in business noninterest-bearing demand deposits. The majority of the decrease in business noninterest-bearing demand deposits was associated with seasonal activity that increased at the end of September 30, 2025. Interest-bearing demand deposits increased $3.2 million, or 0.2%, to $1.4 billion at September 30, 2025. The increase in interest-bearing demand deposits was primarily concentrated in public funds interest-bearing demand deposits that have seasonal fluctuations. Savings deposits decreased $19.4 million, or 8.3%, to $215.1 million at September 30, 2025