Company: FGBI
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001408534-25-000070
Chunk: 7

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-08-18
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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 to Tax Disclosures" ("ASU 2023-09") is intended to enhance the transparency and decision usefulness of income tax disclosures primarily through changes to the rate reconciliation and income taxes paid information. This update is effective for annual periods beginning after December 15, 2024, though early adoption is permitted. We do not expect it to have a material effect on First Guaranty's consolidated financial statements.ASU 2024-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures" (ASU 2024-03") requires the disaggregation of certain expenses in the notes to the financial statements, to provide enhanced transparency into the expense captions presented on the face of the income statement. The amendments in ASU 2024-03 are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The amendments in this ASU may be applied either prospectively or retrospectively. The Company is currently evaluating the impact that this update will have on its disclosures in the consolidated financial statements.

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Note 3. Securities

 A summary comparison of securities by type at June 30, 2025 and December 31, 2024 is shown below.  June 30, 2025December 31, 2024(in thousands)Amortized CostGrossUnrealized GainsGrossUnrealized LossesFair ValueAmortized CostGross Unrealized GainsGrossUnrealized LossesFair ValueAvailable for sale:        U.S. Treasuries$49,652 $— $(37)$49,615 $147,840 $33 $(93)$147,780 U.S. Government Agencies— — — — — — — — Corporate debt securities11,250 6 (387)10,869 12,250 — (668)11,582 Municipal bonds16,304 74 (661)15,717 21,736 220 (339)21,617 Collateralized mortgage obligations117,375 537 (137)117,775 32,065 — (446)31,619 Mortgage-backed securities203,531 867 (801)203,597 70,430 — (1,931)68,499 Total available for