Company: FGBI
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001408534-25-000015
Chunk: 167

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 167
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Total Current Period Gross Charge-offs$627 $1,917 $953 $1,029 $28 $1,217 $— $5,771 

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Note 6. Allowance for Credit Losses on Loans

A summary of changes in the allowance for credit losses, by portfolio type, for the years ended December 31, 2024 and 2023 are as follows: For the Year Ended December 31, 2024(in thousands)Beginning Allowance (12/31/2023)Charge-offsRecoveriesProvisionEnding Allowance (12/31/2024)Real Estate:     Construction & land development$5,845 $(39)$1 $(1,877)$3,930 Farmland36 (258)2 270 50 1- 4 family6,653 (1,034)12 3,612 9,243 Multifamily1,614 — — 2,335 3,949 Non-farm non-residential10,596 (9,000)93 9,842 11,531 Total Real Estate24,744 (10,331)108 14,182 28,703 Non-Real Estate:     Agricultural97 (33)18 122 204 Commercial and industrial2,711 (4,873)235 3,921 1,994 Commercial leases1,948 — — (229)1,719 Consumer and other1,426 (3,354)551 2,714 1,337 Unallocated— — — 854 854 Total Non-Real Estate6,182 (8,260)804 7,382 6,108 Total Loans$30,926 $(18,591)$912 $21,564 $34,811 Unfunded lending commitments2,810 — — (1,600)1,210 Total$33,736 $(18,591)$912 $19,964 $36,021 For the Year Ended December 31,2023(in thousands)Beginning Allowance (12/31/2022)ASC 326 Adoption Day 1 AdjustmentCharge-offsRecoveriesProvisionEnding Allowance (12/31/2023)Real Estate:Construction & land development$1,232