Company: FGBI
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001408534-25-000015
Chunk: 153

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 153
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 gross unrealized losses at December 31, 2023. December 31, 2023 Less Than 12 Months12 Months or MoreTotal(in thousands)Numberof SecuritiesFair ValueGrossUnrealized LossesNumberof SecuritiesFair ValueGrossUnrealized LossesNumberof SecuritiesFair ValueGrossUnrealized LossesAvailable for sale:         U.S. Treasuries— $— $— 3 $49,830 $(218)3 $49,830 $(218)U.S. Government Agencies— — — — — — — — — Corporate debt securities— — — 15 14,471 (1,279)15 14,471 (1,279)Municipal bonds12 3,417 (6)41 5,895 (366)53 9,312 (372)Mortgage-backed securities2 2,606 (21)5 2,394 (123)7 5,000 (144)Total available for sale securities14 $6,023 $(27)64 $72,590 $(1,986)78 $78,613 $(2,013)Held to maturity:U.S. Government Agencies— $— — 29 $204,364 $(61,532)29 $204,364 $(61,532)Corporate debt securities— — — 57 49,220 (5,602)57 49,220 (5,602)Total held to maturity securities— $— $— 86 $253,584 $(67,134)86 $253,584 $(67,134)As of December 31, 2024, 167 of First Guaranty's debt securities had gross unrealized losses totaling 15.0% of the individual securities' amortized cost basis and 12.2% of First Guaranty's total amortized cost basis of the investment securities portfolio. 137 of the 167 securities had been in a continuous loss position for over 12 months at such date. The 137 securities had an aggregate amortized cost basis of $341.1 million and an unrealized loss of $71.5 million at December 31, 2024. Management has the intent and ability to hold these debt securities