Company: FGBI
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001408534-25-000036
Chunk: 104

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 104
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 no transfers between Level 2 and Level 3 from December 31, 2024 to March 31, 2025. There were no transfers between Level 1 and 2 securities available for sale from December 31, 2024 to March 31, 2025. 

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The following table reconciles assets measured at fair value on a recurring basis using unobservable inputs (Level 3): Level 3 Changes(in thousands)March 31, 2025Balance, beginning of year$6,095 Total gains or losses (realized/unrealized): Included in earnings— Included in other comprehensive income(9)Purchases, sales, issuances and settlements, net(255)Transfers in and/or out of Level 3— Balance as of end of period$5,831 There were no gains or losses for the period included in earnings attributable to the change in unrealized gains or losses related to assets still held as of March 31, 2025.The following table measures financial assets and financial liabilities measured at fair value on a non-recurring basis as of March 31, 2025 and December 31, 2024, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value: (in thousands)At March 31, 2025At December 31, 2024Fair Value Measurements Using: Loans Individually Evaluated for Impairment  Level 1: Quoted Prices in Active Markets For Identical Assets$— $— Level 2: Significant Other Observable Inputs— — Level 3: Significant Unobservable Inputs62,072 50,449 Loans individually evaluated for impairment measured at fair value$62,072 $50,449 Fair Value Measurements Using: Other Real Estate Owned  Level 1: Quoted Prices in Active Markets For Identical Assets$— $— Level 2: Significant Other Observable Inputs152 319 Level 3: Significant Unobservable Inputs— — Other real estate owned measured at fair value$152 $319 ASC 825-10 provides First Guaranty with an option to report selected financial assets and liabilities at fair value. The fair value option established by this statement permits First Guaranty to choose to measure eligible items at fair value at specified election dates and report unrealized gains and losses on items for which the fair value option has been elected in earnings at each reporting