Company: FGBI
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001408534-25-000036
Chunk: 122

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 122
---
 Agricultural— — Commercial and industrial— — Commercial leases— — Consumer and other— — Total Non-Real Estate— — Total loans 90 days and greater delinquent & accruing387 11,502 Total nonperforming loans133,780 120,031 Real Estate Owned:  Construction and land development— 226 Farmland— — 1- 4 family62 3 Multifamily— — Non-farm non-residential90 90 Total Real Estate Owned152 319 Total nonperforming assets$133,932 $120,350 Nonperforming assets to total loans5.33 %4.47 %Nonperforming assets to total assets3.50 %3.03 %Nonperforming loans to total loans5.32 %4.46 %Nonaccrual loans to total loans5.31 %4.03 %Allowance for credit losses to nonaccrual loans32.25 %32.08 %Net loan charge-offs to average loans1.03 %0.64 %

-37-

At March 31, 2025, nonperforming assets totaled $133.9 million, or 3.50% of total assets, compared to $120.4 million, or 3.03%, of total assets at December 31, 2024, which represented an increase of $13.6 million, or 11.3%. The increase in nonperforming assets occurred primarily due to an increase in nonaccrual loans, partially offset by a decrease in loans 90 days greater delinquent and still accruing and other real estate owned. Nonperforming loans included loans previously classified as purchase credit deteriorated following the adoption of CECL.

Nonaccrual loans increased from $108.5 million at December 31, 2024 to $133.4 million at March 31, 2025. The increase in total nonaccrual loans was concentrated primarily in two commercial real estate relationships that totaled $40.3 million. Nonaccrual loans included $3.7 million in loans with a government guarantee. These are structured as net loss guarantees in which up to 90% of loss exposure is covered.

At March 31, 2025, loans 90 days or greater delinquent and still accruing totaled $0.