Company: FGBI
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001408534-25-000070
Chunk: 59

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-08-18
Form: 10-Q
Item: Part I, Item 1
Chunk 59
---
 off $0.6 million in consumer loans during the first six months of 2025. The consumer loan charge offs included $0.1 million in credit card loans, $0.2 million of loans secured by automobiles or equipment, and $0.3 million in unsecured loans.

2.First Guaranty charged off $4.9 million on a construction and land development loan that was subsequently sold during the first quarter of 2025. This relationship had no remaining principal balance as of June 30, 2025.

3.First Guaranty charged off $0.9 million on a construction and land development loan that was subsequently sold during the first quarter of 2025. This relationship had no remaining principal balance as of  June 30, 2025.

4.First Guaranty charged off $0.3 million on a commercial and industrial loan during the second quarter of 2025. This relationship had no remaining principal balance as of June 30, 2025.

5.First Guaranty charged off $0.2 million on a commercial lease loan relationship during the second quarter of 2025. This relationship had a remaining principal balance of $1.2 million as of June 30, 2025.

6.Smaller loans and overdrawn deposit accounts comprised the remaining $1.1 million of charge-offs for the first six months of 2025.

-42-

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

(in thousands)Six Months EndedJune 30, 2025Six Months EndedJune 30, 2024Loans:  Average outstanding balance$2,541,990 $2,784,384 Balance at end of period$2,410,505 $2,833,350 Allowance for Credit Losses:Balance at beginning of year$34,811 $30,926 Charge-offs(8,017)(11,052)Recoveries409 504 Provision31,668 9,909 Balance at end of period$58,871 $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 June 30,