Company: FGBI
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001408534-25-000015
Chunk: 192

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 192
---
10,483 83,485 Securities, held for maturity320,638 — 253,584 — 253,584 Loans, net2,717,782 — — 2,581,979 2,581,979 Cash surrender value of BOLI5,861 — — 5,861 5,861 Accrued interest receivable15,713 — — 15,713 15,713 LiabilitiesDeposits$3,009,094 $— $— $3,001,498 3,001,498 Short-term advances from Federal Home Loan Bank50,000 — — 50,000 50,000 Short-term borrowings10,000 — — 10,000 10,000 Repurchase agreements6,297 — — 6,285 6,285 Accrued interest payable11,807 — — 11,807 11,807 Long-term advances from Federal Home Loan Bank155,000 — — 152,299 152,299 Senior long-term debt39,099 — — 39,304 39,304 Junior subordinated debentures15,000 — — 15,000 15,000                                         There is no material difference between the contract amount and the estimated fair value of off-balance sheet items that are primarily comprised of short-term unfunded loan commitments that are generally at market prices.

-109-

Note 22. Concentrations of Credit and Other Risks

First Guaranty monitors loan portfolio concentrations by region, collateral type, loan type, and industry on a monthly basis and has established maximum thresholds as a percentage of its capital to ensure that the desired mix and diversification of its loan portfolio is achieved. First Guaranty is compliant with the established thresholds as of December 31, 2024. Personal, commercial and residential loans are granted to customers, most of who reside in northern and southern areas of Louisiana. Although First Guaranty has a diversified loan portfolio, significant portions of the loans are collateralized by real estate located in Tangipahoa Parish and surrounding parishes in Southeast Louisiana. Declines in the Louisiana economy could result in lower real estate values which could, under certain circumstances, result in losses to First Guaranty.The distribution of commitments to extend credit approximates the distribution of