Company: FGBI
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001408534-25-000015
Chunk: 141

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 141
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 share)— — — (125)— (125)Balance December 31, 2024$33,058 $12,505 $149,389 $72,965 $(12,868)$255,049 

 See Notes to Consolidated Financial Statements

-74-

FIRST GUARANTY BANCSHARES, INC. AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF CASH FLOWS 

 Years Ended December 31,(in thousands)20242023Cash Flows From Operating Activities:  Net income$12,448 $9,219 Adjustments to reconcile net income to net cash provided by operating activities:Provision for credit losses20,034 3,714 Depreciation and amortization4,432 4,026 Amortization/Accretion of investments(2,556)987 (Gain) loss on sale/call of securities— — Gain on sale of assets(14,535)(35)Repossessed asset write downs, gains and losses on dispositions397 150 FHLB stock dividends(775)(358)Change in other assets and liabilities, net14,284 4,011 Net Cash Provided by Operating Activities33,729 21,714 Cash Flows From Investing Activities:  Increase in interest bearing deposits(250)— Proceeds from maturities, calls and sales of AFS securities169,497 51,406 Funds invested in AFS securities(365,491)(2,626)Proceeds from maturities and calls of HTM securities— 289 Proceeds from sale/redemption of Federal Home Loan Bank stock8,724 2,425 Funds invested in Federal Home Loan Bank stock(4,265)(8,929)Funds invested in intangibles— (100)Net decrease (increase) in loans36,826 (234,123)Purchases of premises and equipment(3,044)(14,855)Proceeds from sales of premises and equipment14,981 324 Proceeds from sales of other real estate owned953 101 Net Cash Used In Investing Activities(142,069)(206,088)Cash Flows From Financing Activities:  Net increase in deposits467,166 285,302 Net decrease in federal funds purchased and short-term borrowings(59,288)(80,145)Proceeds of long-term