Company: FGBI
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001408534-25-000036
Chunk: 182

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 182
---
 31, 2025 totaled $400.2 million compared to $486.0 million at December 31, 2024. At March 31, 2025, time deposits maturing within one year or less totaled $890.0 million compared to $804.1 million at December 31, 2024. Time deposits maturing after one year through three years totaled $372.5 million at March 31, 2025 compared to $489.6 million at December 31, 2024. Time deposits maturing after three years totaled $158.9 million at March 31, 2025 compared to $157.0 million at December 31, 2024. First Guaranty's held to maturity ("HTM") securities portfolio at March 31, 2025 was $321.9 million, or 54.1% of the investment portfolio, compared to $321.6 million, or 53.4% at December 31, 2024. First Guaranty's available for sale ("AFS") securities portfolio was $273.0 million, or 45.9% of the investment portfolio as of March 31, 2025 compared to $281.1 million, or 46.6% of the investment portfolio at December 31, 2024. The majority of the AFS portfolio was comprised of U.S. Treasury securities, corporate debt securities, municipal bonds, collaterlized mortgage obligations and mortgage-backed securities. 

First Guaranty maintained a net borrowing capacity at the Federal Home Loan Bank totaling $371.9 million and $339.2 million at March 31, 2025 and December 31, 2024, respectively with $135.0 million in FHLB advances outstanding at March 31, 2025 and December 31, 2024. The advances outstanding at March 31, 2025 and December 31, 2024 were comprised of two long-term advances that totaled $135.0 million. The change in borrowing capacity with the Federal Home Loan Bank was due to changes in the value that First Guaranty receives on pledged collateral and due to First Guaranty's usage of the line. First Guaranty has increasingly transitioned public funds deposits into reciprocal deposit programs for collateralization as an alternative to FHLB letters of credit. We also maintain federal funds lines of credit at various correspondent banks with borrowing capacity of $93.0 million as of March