Company: FGBI
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001408534-25-000092
Chunk: 153

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 8
Chunk 153
---
Accrued interest payable. The carrying amount of accrued interest payable approximates its fair value. Borrowings. The carrying amount of federal funds purchased and other short-term borrowings approximate their fair values. The fair value of First Guaranty's long-term borrowings is computed using net present value formulas. The present value is the sum of the present value of all projected cash flows on an item at a specified discount rate. The discount rate is set as an appropriate rate index, plus or minus an appropriate spread. Borrowings are classified within level 3 of the fair value hierarchy. The carrying amounts and estimated fair values of financial instruments at September 30, 2025 were as follows:Fair Value Measurements at September 30, 2025 Using(in thousands)Carrying AmountLevel 1Level 2Level 3TotalAssetsCash and due from banks$753,629 $753,629 $— $— $753,629 Federal funds sold554 554 — — 554 Securities, available for sale374,335 — 368,586 5,749 374,335 Securities, held for maturity322,413 — 264,566 — 264,566 Loans held for sale— — — — — Loans, net2,194,028 — — 2,178,784 2,178,784 Accrued interest receivable14,776 — — 14,776 14,776 LiabilitiesDeposits$3,354,897 $— $— $3,359,607 3,359,607 Repurchase agreements7,117 — — 7,141 7,141 Accrued interest payable16,333 — — 16,333 16,333 Long-term advances from Federal Home Loan Bank135,000 — — 136,373 136,373 Senior long-term debt14,196 — — 14,266 14,266 Junior subordinated debentures29,790 — — 30,000 30,000 

-32-

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 3Total