Company: FGBI
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001408534-25-000070
Chunk: 60

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-08-18
Form: 10-Q
Item: Part I, Item 1
Chunk 60
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 2025, total deposits increased $5.1 million, or 0.1%, to $3.5 billion. Noninterest-bearing demand deposits increased $38.2 million, or 9.5%, to $442.3 million at June 30, 2025. The increase in noninterest-bearing demand deposits was primarily concentrated in business noninterest-bearing demand deposits. The majority of the increase in business noninterest-bearing demand deposits was associated with seasonal activity that increased at the end of June 30, 2025. Interest-bearing demand deposits increased $15.9 million, or 1.1%, to $1.4 billion at June 30, 2025. The increase in interest-bearing demand deposits was primarily concentrated in public funds interest-bearing demand deposits that have seasonal fluctuations. Savings deposits increased $12.7 million, or 5.4%, to $247.1 million at June 30, 2025, primarily related to increases in business and individual savings deposits. Time deposits decreased $61.7 million, or 4.3%, to $1.4 billion at June 30, 2025, primarily due to decreases in brokered time deposits.

Management will continue to evaluate and update our product mix and related technology in its efforts to attract additional customers. We currently offer a number of deposit products that are competitively priced and designed to attract and retain customers with primary emphasis on noninterest-bearing deposits, select time deposits and other lower cost deposits. 

As of June 30, 2025, the aggregate amount of outstanding certificates of deposit in amounts greater than $250,000 was approximately $191.7 million. At June 30, 2025, approximately $21.7 million of First Guaranty's certificates of deposit greater than $250,000 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 $263.4 million at June 30, 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 $838.6 million at June 30, 2025.

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

(in thousands)June 30,