Company: FGBI
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001408534-25-000015
Chunk: 170

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 170
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-farm non-residential3,047 7,549 10,596 46,571 999,294 1,045,865 Total Real Estate3,363 21,381 24,744 59,233 1,982,368 2,041,601 Non-Real Estate:      Agricultural1 96 97 1,466 39,542 41,008 Commercial and industrial758 1,953 2,711 4,464 330,508 334,972 Commercial leases— 1,948 1,948 1,799 283,616 285,415 Consumer and other— 1,426 1,426 — 54,485 54,485 Unallocated— — — — — — Total Non-Real Estate759 5,423 6,182 7,729 708,151 715,880 Total$4,122 $26,804 $30,926 $66,962 $2,690,519 $2,757,481 Unearned Income     (8,773)Total Loans Net of Unearned Income     $2,748,708 All loans individually evaluated for impairment as of December 31, 2023 were considered collateral dependent loans.

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As of December 31, 2024 and 2023, First Guaranty had loans totaling $108.5 million and $25.2 million, respectively, not accruing interest. As of December 31, 2024, and 2023, First Guaranty had loans past due 90 days or more and still accruing interest totaling $11.5 million and $15.3 million, respectively. The average outstanding balance of nonaccrual loans in 2024 was $63.4 million compared to $22.5 million in 2023.The Bank held loans that were individually evaluated for impairment at December 31, 2024 for which the repayment, on the basis of the assessment at the reporting date, is expected to be provided substantially though the operation or sale of the collateral and the borrower is experiencing financial difficulty. The Allowance for Credit Losses for these collateral-dependent loans is primarily based on the fair value of the underlying collateral at the reporting date. The following describes the type of collateral that secure collateral dependent loans:•