Company: FGBI
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001408534-25-000092
Chunk: 185

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 8
Chunk 185
---
30, 2025 from 6.34% for the three months ended September 30, 2024 primarily due to a lower yield on interest-earning deposits with banks. For the three months ended September 30, 2025, the average balance of our total interest-bearing liabilities increased by $119.4 million to $3.2 billion primarily due to growth in interest-bearing deposits. The average rate of our total interest-bearing liabilities decreased by 62 basis points to 3.92% for the three months ended September 30, 2025 from 4.54% for the three months ended September 30, 2024. The primary source of the decrease in liabilities cost was associated with the repricing of interest bearing demand deposits for public funds that are primarily indexed to Treasury rates. As a result, our net interest rate spread decreased 9 basis points to 1.71% for the three months ended September 30, 2025 from 1.80% for the three months ended September 30, 2024. Our net interest margin decreased 17 basis points to 2.34% for the three months ended September 30, 2025 from 2.51% for the three months ended September 30, 2024.

Nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. Net interest income for the nine months ended September 30, 2025 and 2024 was $66.7 million and $65.9 million, respectively. The increase in net interest income for the nine months ended September 30, 2025 as compared to the prior year period was primarily due to an increase in the average balance of our total interest-earning assets, partially offset by a decrease in the average yield of our total interest-earning assets and an increase in the average balance of our total interest-bearing liabilities. For the nine months ended September 30, 2025, the average balance of our total interest-earning assets increased by $312.8 million to $3.8 billion due to growth in the securities portfolio and an increase in interest-earning deposits with banks. The average yield of our interest-earning assets decreased by 57 basis points to 5.71% for the nine months ended September 30, 2025 from 6.28% for the nine months ended