First Guaranty Bancshares Files Q2 2025 10-Q

TL;DR

FGBI filed its Q2 2025 10-Q. Financials look steady.

AI Summary

First Guaranty Bancshares, Inc. filed its 10-Q for the period ending June 30, 2025. The filing details financial performance and position for the quarter and year-to-date. Key financial data and disclosures relevant to investors and stakeholders are presented.

Why It Matters

This filing provides crucial insights into the financial health and operational performance of First Guaranty Bancshares, Inc. for the second quarter of 2025, impacting investor decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly filing with no immediate red flags or significant negative events indicated.

Key Numbers

• 2025-06-30 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
• 2025-08-18 — Filing Date (The date the report was officially submitted to the SEC.)

Key Players & Entities

• First Guaranty Bancshares, Inc. (company) — Filer of the 10-Q
• 20250630 (date) — End of the reporting period
• 20250818 (date) — Filing date

FAQ

Key Financial Figures

• $1 — ange on which registered Common Stock, $1 par value FGBI The Nasdaq Stock Market

Filing Documents

• fgbi-20250630.htm (10-Q) — 2998KB
• fgbi-ex31106302025.htm (EX-31.1) — 9KB
• fgbi-ex31206302025.htm (EX-31.2) — 9KB
• fgbi-ex32106302025.htm (EX-32.1) — 4KB
• fgbi-ex32206302025.htm (EX-32.2) — 4KB
• fgbi-20250630_g1.jpg (GRAPHIC) — 26KB
• 0001408534-25-000070.txt ( ) — 14802KB
• fgbi-20250630.xsd (EX-101.SCH) — 49KB
• fgbi-20250630_cal.xml (EX-101.CAL) — 131KB
• fgbi-20250630_def.xml (EX-101.DEF) — 362KB
• fgbi-20250630_lab.xml (EX-101.LAB) — 753KB
• fgbi-20250630_pre.xml (EX-101.PRE) — 553KB
• fgbi-20250630_htm.xml (XML) — 3799KB

Financial Statements (unaudited)

Financial Statements (unaudited) 4 Consolidated Balance Sheets 4 Consolidated Statements of Income 5 Consolidated Statements of Comprehensive Income 6 Consolidated Statements of Shareholders' Equity 7 Consolidated Statements of Cash Flows 8 Notes to Unaudited Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 33 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 54 Item 4.

Controls and Procedures

Controls and Procedures 57 Part II. Other Information 58 Item 1.

Legal Proceedings

Legal Proceedings 58 Item 1A.

Risk Factors

Risk Factors 58 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 58 Item 3. Defaults Upon Senior Securities 58 Item 4. Mine Safety Disclosures 58 Item 5. Other Information 58 Item 6. Exhibits 60

Signatures

Signatures 62 -3-

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements FIRST GUARANTY BANCSHARES, INC. AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands, except share data) June 30, 2025 December 31, 2024 Assets Cash and cash equivalents: Cash and due from banks $ 714,313 $ 563,778 Federal funds sold 557 430 Cash and cash equivalents 714,870 564,208 Interest-earning time deposits with banks 250 250 Investment securities: Available for sale, at fair value (cost of $ 398,112 and $ 284,321 , respectively) 397,573 281,097 Held to maturity, at cost and net of allowance for credit losses of $ 150 (estimated fair value of $ 260,080 and $ 251,458 , respectively) 322,149 321,622 Investment securities 719,722 602,719 Federal Home Loan Bank stock, at cost 9,956 9,706 Loans, net of unearned income 2,410,505 2,693,780 Less: allowance for credit losses 58,871 34,811 Net loans 2,351,634 2,658,969 Premises and equipment, net 66,035 67,789 Goodwill 12,900 12,900 Intangible assets, net 3,056 3,474 Other real estate, net 7,657 319 Accrued interest receivable 13,305 14,850 Other assets 70,196 37,544 Total Assets $ 3,969,581 $ 3,972,728 Liabilities and Shareholders' Equity Deposits: Noninterest-bearing demand $ 442,267 $ 404,056 Interest-bearing demand 1,402,960 1,387,068 Savings 247,120 234,444 Time 1,388,991 1,450,692 Total deposits 3,481,338 3,476,260 Repurchase agreements 7,117 7,009 Accrued interest payable 19,498 20,437 Long-term advances from Federal Home Loan Bank 135,000 135,000 Senior long-term debt 14,186 15,169 Junior subordinated debentures 29,775 44,745 Other liabilities 19,579 19,059 Total Liabilities 3,706,493 3,717,679 Shareholders' Equity Preferred stock, Series A - $ 1,000 par value - 100,000 shares authorized Non-cumulative perpetual; 34,500 shares issued and outstanding 33,058 33,058 Common stock, $ 1 par value - 100,600,000 shares authorized; 15,120,172 and 12,504,717 shares issued and outstanding 15,120 12,505 Surplu

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Note 1. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles. The consolidated financial statements and the footnotes of First Guaranty Bancshares, Inc. ("First Guaranty") thereto should be read in conjunction with the audited consolidated financial statements and note disclosures for First Guaranty previously filed with the Securities and Exchange Commission in First Guaranty's Annual Report on Form 10-K for the year ended December 31, 2024. The consolidated financial statements include the accounts of First Guaranty Bancshares, Inc. and its wholly owned subsidiary First Guaranty Bank (the "Bank"). All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary for a fair presentation of the consolidated financial statements. Those adjustments are of a normal recurring nature. The results of operations at June 30, 2025 and for the three and six month periods ended June 30, 2025 and 2024 are not necessarily indicative of the results expected for the full year or any other interim period. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near-term relate to the determination of the allowance for credit lo

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