Company: FGBI
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001408534-25-000015
Chunk: 173

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 173
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 thousands)December 31, 2024December 31, 2023Real Estate Owned Acquired by Foreclosure:  Residential$226 $309 Construction & land development3 251 Non-farm non-residential90 690 Total Other Real Estate Owned and Foreclosed Property319 1,250 Allowance for Other Real Estate Owned losses— — Net Other Real Estate Owned and Foreclosed Property$319 $1,250 Loans secured by one-to-four family residential properties in the process of foreclosure totaled $1.4 million as of December 31, 2024.

Note 10. Deposits

A schedule of maturities of all time deposits are as follows:(in thousands)December 31, 20242025$804,825 2026335,461 2027153,567 2028107,561 2029 and thereafter49,278 Total$1,450,692 The table above includes $657.2 million in brokered deposits for December 31, 2024. The aggregate amount of jumbo time deposits, each with a minimum denomination of $250,000 totaled $201.0 million and $196.9 million at December 31, 2024 and 2023, respectively.

Note 11. Borrowings

Short-term borrowings are summarized as follows:(in thousands)December 31, 2024December 31, 2023Federal Home Loan Bank advances$— $50,000 Repurchase agreements7,009 6,297 Line of credit— 10,000 Total short-term borrowings$7,009 $66,297 First Guaranty maintains borrowing relationships with other financial institutions as well as the Federal Home Loan Bank on a short and long-term basis to meet liquidity needs. First Guaranty had $7.0 million in short-term borrowings outstanding at December 31, 2024 compared to $66.3 million outstanding at December 31, 2023. Available lines of credit totaled $682.7 million at December 31, 2024 and $589.2 million at December 31, 2023.The following schedule provides certain information about First Guaranty's short-term borrowings for the periods indicated: December 31,(in thousands except for %)20242023Outstanding at year end$7,009 $66,297 Maximum month-end outstanding$66,982