Company: FGBI
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001408534-25-000092
Chunk: 187

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 8
Chunk 187
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 on securities increased $3.4 million to $6.4 million for the three months ended September 30, 2025 as compared to the prior year period primarily as a result of an increase in average balance and average yield of securities. The average balance of securities increased $297.8 million to $722.4 million for the three months ended September 30, 2025 from $424.6 million for the three months ended September 30, 2024 primarily due to a increase in the average balance of our mortgage-backed securities and collateralized mortgage obligations securities portfolio compared to the prior year. The average yield on securities increased 73 basis points to 3.51% for the three months ended September 30, 2025 compared to 2.78% for the three months ended September 30, 2024 due to the increase in higher yielding securities. 

Interest income on loans decreased $10.5 million or 21.1%, to $39.3 million for the three months ended September 30, 2025 as compared to the prior year period as a result of a decrease in the average balance and average yield of loans. The average balance of loans (excluding loans held for sale) decreased by $464.7 million to $2.3 billion for the three months ended September 30, 2025 from $2.8 billion for the three months ended September 30, 2024 largely as a result of loan sales and payoffs on the portfolio. The average yield on loans (excluding loans held for sale) decreased by 40 basis points to 6.65% for the three months ended September 30, 2025 from 7.05% for the three months ended September 30, 2024. 

Interest income on interest-earning deposits with banks increased $3.1 million to $7.8 million for the three months ended September 30, 2025 as compared to the prior year period as a result of an increase in the average balance of interest-bearing deposits with banks. The average balance of interest-bearing deposits with banks increased $332.8 million to $697.3 million for the three months ended September 30, 2025 from $364.5 million for the three months ended September 30, 2024.