Company: FGBI
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001408534-25-000036
Chunk: 128

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 128
---
,000 had a remaining term greater than one year.

The total amount of our uninsured deposits (deposits in excess of $250,000, as calculated in accordance with FDIC regulations) was estimated at $294.9 million at March 31, 2025. This total excludes public funds deposits that are collateralized by securities or FHLB letters of credit. The amount of uninsured deposits including collateralized public funds deposits was estimated at $941.1 million at March 31, 2025.

The following table sets forth the distribution of our time deposit accounts. 

(in thousands)March 31, 2025Time deposits of less than $100,000$865,814 Time deposits of $100,000 through $250,000358,087 Time deposits of more than $250,000197,614 Total Time Deposits$1,421,515 

The following table sets forth the maturity of the time deposits greater than $250,000 at March 31, 2025.

 (in thousands)March 31, 2025Three months or less$43,644 Three to six months85,469 Six months to one year42,785 One to three years9,246 More than three years16,470 Total Time Deposits greater than $250,000$197,614 

-41-

Public funds deposits totaled $928.4 million at March 31, 2025 and $1.0 billion at December 31, 2024. Public funds time deposits totaled $75.2 million at March 31, 2025 compared to $78.4 million at December 31, 2024. Public funds deposits decreased due to seasonal fluctuations. First Guaranty has developed a program for the retention and management of public funds deposits. Since the end of 2012, First Guaranty has maintained public funds deposits in excess of $400.0 million. These deposits are from public entities such as school districts, hospital districts, sheriff departments and municipalities. The majority of these funds are under fiscal agency agreements with terms of three years or less. Deposits under fiscal agency agreements are generally stable but public entities may maintain the ability to negotiate term deposits on a specific basis including with other financial institutions. These deposits generally have stable balances as we maintain both operating accounts and time deposits for these entities. There is a seasonal component to public deposit levels associated with annual tax collections. Public