Company: FGBI
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001408534-25-000036
Chunk: 133

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 133
---
 net interest margin decreased 23 basis points to 2.35% for the three months ended March 31, 2025 from 2.58% for the three months ended March 31, 2024.

-43-

Interest Income

Three months ended March 31, 2025 compared to the three months ended March 31, 2024. Interest income increased $1.6 million, or 2.9%, to $54.5 million for the three months ended March 31, 2025 as compared to the prior year period. These factors contributed to the increase in interest income as the average balance of our total interest-earning assets, primarily associated with securities and interest-earning deposits with banks, increased, partially offset by the decrease in the average yield of interest-earning assets. The average balance of our interest-earning assets increased $417.9 million to $3.8 billion for the three months ended March 31, 2025 as compared to the same period in the prior year. The average yield of interest-earning assets decreased by 47 basis points to 5.76% for the three months ended March 31, 2025 compared to 6.23% for the three months ended March 31, 2024.

Interest income on securities increased $3.0 million to $5.5 million for the three months ended March 31, 2025 as compared to the prior year period primarily as a result of an increase in average balance and average yield of securities. The average balance of securities increased $265.4 million to $657.6 million for the three months ended March 31, 2025 from $392.2 million for the three months ended March 31, 2024 primarily due to a increase in the average balance of our U.S. Treasuries, mortgage-backed securities, and collateralized mortgage obligations securities portfolio compared to the prior year. The average yield on securities increased 81 basis points to 3.39% for the three months ended March 31, 2025 compared to 2.58% for the three months ended March 31, 2024 due to the increase in higher yielding securities. 

Interest income on loans decreased $3.9 million or 8.4%, to $43.0 million for the three months