Company: FGBI
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001408534-25-000092
Chunk: 257

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 2
Chunk 257
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-tax income, the amount of tax-exempt income and the amount of other non-deductible expenses and the statutory tax rate. The benefit for income taxes for the three months ended September 30, 2025 was $9.0 million compared to a provision of $0.6 million for the same period in 2024. The provision for income taxes decreased due to a decrease in income before income taxes. First Guaranty's statutory tax rate was 21.0% for the three months ended September 30, 2025 and 2024. 

The benefit for income taxes for the nine months ended September 30, 2025 was $13.0 million compared to a provision of $3.4 million for the same period in 2024. The provision for income taxes decreased due to a decrease in income before income taxes. First Guaranty's statutory tax rate was 21.0% for the nine months ended September 30, 2025 and 2024. 

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Liquidity and Capital Resources

Liquidity

Liquidity refers to the ability or flexibility to manage future cash flows to meet the needs of depositors and borrowers and fund operations. Maintaining appropriate levels of liquidity allows us to have sufficient funds available to meet customer demand for loans, withdrawal of deposit balances and maturities of deposits and other liabilities. Liquid assets include cash and due from banks, interest-earning demand deposits with banks, federal funds sold and available for sale investment securities.

First Guaranty's cash and cash equivalents totaled $754.2 million at September 30, 2025 compared to $564.2 million at December 31, 2024. Loans maturing within one year or less at September 30, 2025 totaled $517.9 million compared to $486.0 million at December 31, 2024. At September 30, 2025, time deposits maturing within one year or less totaled $908.7 million compared to $804.1 million at December 31, 2024. Time deposits maturing after one year through three years totaled $358.0 million at September 30, 2025 compared to $489.6 million at December 31, 2024. Time deposits maturing after three years totaled $85.9 million at September 30, 2025 compared to $157.0 million at December 31, 2024. First Guaranty's held to maturity