Company: FGBI
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001408534-25-000015
Chunk: 195

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 195
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$9,219 

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First Guaranty Bancshares, Inc.Condensed Statements of Cash Flows 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:Increase in equity in undistributed earnings of subsidiary(8,140)(3,939)Depreciation and amortization— 24 Net change in other liabilities484 (296)Net change in other assets245 (580)Net cash provided by operating activities5,037 4,428 Cash flows from investing activities:  Proceeds from sales of equity securities— — Funds invested in equity securities— — Funds invested in bank subsidiary— (17,000)Net cash used in investing activities— (17,000)Cash flows from financing activities:  Net (decrease) increase in short-term borrowings(10,000)(10,000)Proceeds from long-term borrowings, net of costs29,700 40,097 Repayment of long-term debt(24,030)(22,946)Net proceeds from issuance of common stock— 20,000 Subsidiary payment for stock grants issued334 750 Dividends paid(7,455)(9,698)Net cash (used in) provided by financing activities(11,451)18,203 Net (decrease) increase in cash and cash equivalents(6,414)5,631 Cash and cash equivalents at the beginning of the period8,955 3,324 Cash and cash equivalents at the end of the period$2,541 $8,955 

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