Company: FGBI
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001408534-25-000015
Chunk: 191

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 191
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 2024 and 2023 the fair value of guarantees under commercial and standby letters of credit was not material.The carrying amounts and estimated fair values of financial instruments at December 31, 2024 were as follows:Fair Value Measurements at December 31, 2024 Using(in thousands)Carrying AmountLevel 1Level 2Level 3TotalAssetsCash and due from banks$563,778 $563,778 $— $— $563,778 Federal funds sold430 430 — — 430 Securities, available for sale281,097 147,780 127,222 6,095 281,097 Securities, held for maturity321,622 — 251,458 — 251,458 Loans, net2,658,969 — — 2,508,440 2,508,440 Cash surrender value of BOLI6,012 — — 6,012 6,012 Accrued interest receivable14,850 — — 14,850 14,850 LiabilitiesDeposits$3,476,260 $— $— $3,475,411 3,475,411 Short-term advances from Federal Home Loan Bank— — — — — Short-term borrowings— — — — — Repurchase agreements7,009 — — 7,005 7,005 Accrued interest payable20,437 — — 20,437 20,437 Long-term advances from Federal Home Loan Bank135,000 — — 134,977 134,977 Senior long-term debt15,169 — — 15,274 15,274 Junior subordinated debentures44,745 — — 45,000 45,000 

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The carrying amounts and estimated fair values of financial instruments at December 31, 2023 were as follows:Fair Value Measurements at December 31, 2023 Using(in thousands)Carrying AmountLevel 1Level 2Level 3TotalAssetsCash and due from banks$286,114 $286,114 $— $— $286,114 Federal funds sold341 341 — — 341 Securities, available for sale83,485 49,830 23,172