Company: FGBI
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001408534-25-000070
Chunk: 114

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-08-18
Form: 10-Q
Item: Part I, Item 8
Chunk 114
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5 million and $11.5 million, respectively.Information concerning First Guaranty’s leases is as follows:Six Months EndedJune 30, 2025Six Months EndedJune 30, 2024Weighted-average lease term (in years)13.84.0Weighted-average discount rate7.9 %2.9 %First Guaranty’s operating lease ROU assets were $11.3 million and $11.6 million at June 30, 2025 and December 31, 2024, respectively, and the related operating lease liabilities were $11.4 million and $11.6 million, respectively. The ROU asset is included in Other Assets on the balance sheet, and the related operating lease liabilities are included in Other liabilities.Operating lease expense, including short-term leases, is included in occupancy expense in the amount of $0.8 million and $0.2 million for the six months end June 30, 2025 and 2024, respectively. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Cash payment for amounts included in the measurement of lease liabilities of $0.7 million and $59,000 were included in operating cash flows for the respective six-month periods.The following table reports minimum lease payments under non-cancelable operating leases at June 30, 2025:(in thousands)2025$703 20261,406 20271,406 20281,351 20291,307 Thereafter12,797 Total lease payments18,970 Less: interest(7,563)Present value of lease liabilities$11,407 

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Note 11. Fair Value Measurements

The fair value of a financial instrument is the current amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. Valuation techniques use certain inputs to arrive at fair value. Inputs to valuation techniques are the assumptions that market participants would use in pricing the asset or liability. They may be observable or unobservable. First Guaranty uses a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable