Company: FGBI
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001408534-25-000036
Chunk: 135

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 135
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 the average balance of savings deposits, a $591.0 million increase in the average balance of time deposits, offset by a $167.0 million decrease in the average balance of interest-bearing demand deposits and a $26.1 million decrease in the average balance of borrowings. The average rate of interest-bearing demand deposits was 3.60% for the three months ended March 31, 2025 and 4.43% for the three months ended March 31, 2024. The decrease in market interest rates, particularly U.S. Treasury rates, contributed to the decrease in rates paid on interest-bearing demand deposits. The largest concentration of interest-bearing demand deposits is associated with public funds deposits that are primarily indexed to Treasury rates. The average rate of time deposits decreased 6 basis points during the three months ended March 31, 2025 to 4.47% as compared to the prior year period. The decrease in the average rate of time deposits was due to changes in market rates as existing time deposits repriced. 

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The following tables set forth average balance sheets, average yields and costs, and certain other information for the periods indicated. No tax-equivalent yield adjustments were made, as the effect thereof was not material. All average balances are daily average balances. Non-accrual loans were included in the computation of average balances but have been reflected in the tables as loans carrying a zero yield. The yields set forth below include the effect of deferred fees, discounts and premiums that are amortized or accreted to interest income or expense.

The net interest income yield shown below in the average balance sheet is calculated by dividing net interest income by average interest-earning assets and is a measure of the efficiency of the earnings from balance sheet activities. It is affected by changes in the difference between interest on interest-earning assets and interest-bearing liabilities and the percentage of interest-earning assets funded by interest-bearing liabilities. 

Three Months Ended March 31, 2025Three Months Ended March 31, 2024(in thousands except for %)Average BalanceInterestYield/Rate (5)Average BalanceInterestYield/Rate (5)AssetsInterest-earning assets:Interest-earning deposits with banks$547,494 $5,999 4.44 %$261,981 $3,476 5.34 %Securities (including FHLB stock)657,607 5,495 3.39 %392,