$FGBI

First Guaranty Bancshares, Inc.

CIK:0001408534|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest Income:
Loans (including fees)	$ 33,090	$ 41,013	$ 66,369	$ 83,982
Deposits with other banks	6,073	7,511	14,710	13,510
Securities (including FHLB stock)	12,118	5,797	22,477	11,292
Total Interest Income	51,281	54,321	103,556	108,784
Interest Expense:
Demand deposits	8,241	12,708	17,851	24,912
Savings deposits	963	1,336	1,909	2,598
Time deposits	17,395	15,196	35,994	31,086
Borrowings	2,404	2,841	4,835	5,725
Total Interest Expense	29,003	32,081	60,589	64,321
Net Interest Income	22,278	22,240	42,967	44,463
Less: Provision for credit losses	2,625	16,610	5,250	31,158
Net Interest Income after Provision for Credit Losses	19,653	5,630	37,717	13,305
Noninterest Income:
Service charges, commissions and fees	736	834	1,494	1,683
ATM and debit card fees	655	778	1,297	1,525
Net gains on securities	0	0	1	0
Net gains on sale of assets	0	0	44	4
Other	508	544	1,271	1,298
Total Noninterest Income	1,899	2,156	4,107	4,510
Noninterest Expense:
Salaries and employee benefits	7,029	7,843	14,381	16,284
Occupancy and equipment expense	2,361	2,605	4,825	5,245
Other	7,818	6,819	14,731	13,755
Total Noninterest Expense	17,208	17,267	33,937	35,284
Income (Loss) Before Income Taxes	4,344	(9,481)	7,887	(17,469)
Provision (benefit) for income taxes	913	(2,178)	1,713	(4,000)
Net Income (Loss)	3,431	(7,303)	6,174	(13,469)
Less: Preferred stock dividends	582	582	1,164	1,164
Net Income (Loss) Available to Common Shareholders	$ 2,849	$ (7,885)	$ 5,010	$ (14,633)
Per Common Share:
Earnings (Loss) (in dollars per share)	$ 0.17	$ (0.61)	$ 0.31	$ (1.15)
Cash dividends paid (in dollars per share)	$ 0.01	$ 0.01	$ 0.02	$ 0.02
Weighted Average Common Shares Outstanding (in shares)	16,326,060	12,910,785	16,062,514	12,709,905

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows From Operating Activities
Net income (loss)	$ 6,174	$ (13,469)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Provision for credit losses	5,250	31,158
Depreciation and amortization	1,997	2,189
Change in right of use asset	11,028	251
Amortization/Accretion of investments	(2,107)	(2,105)
(Gain) loss on sale/call of securities	(1)	0
Gain on sale of assets	(44)	(4)
Repossessed asset write downs, gains and losses on dispositions	127	24
Interest expense paid-in-kind	1,617	708
FHLB stock dividends	(227)	(250)
Change in operating lease liabilities	(11,098)	(233)
Change in other assets and liabilities, net	37,168	(31,197)
Net Cash Provided By (Used In) Operating Activities	49,884	(12,928)
Cash Flows From Investing Activities
Proceeds from maturities and calls of HTM securities	0	0
Proceeds from maturities, calls and sales of AFS securities	112,646	119,937
Funds invested in certificates of deposit	0	0
Funds invested in AFS securities	(338,108)	(231,470)
Funds invested in preferred securities	0	0
Proceeds from redemption of preferred securities	0	0
Funds invested in Federal Home Loan Bank stock	0	0
Proceeds from sale/redemption of Federal Home Loan Bank stock	0	0
Net decrease in loans	290,965	268,151
Purchase of premises and equipment	(14,819)	(481)
Proceeds from sales of premises and equipment	338	4
Proceeds from sales of other real estate owned	7,173	130
Net Cash Provided By Investing Activities	58,195	156,271
Cash Flows From Financing Activities
Net (decrease) increase in deposits	(175,825)	5,078
Net increase in federal funds purchased and short-term borrowings	108	108
Proceeds from long-term borrowings	0	0
Repayment of long-term borrowings	0	(1,008)
Proceeds from subordinated debentures	0	0
Proceeds from issuance of common stock	5,000	4,559
Dividends paid on preferred stock	(1,164)	(1,164)
Dividends paid on common stock	(323)	(254)
Net Cash (Used In) Provided By Financing Activities	(172,204)	7,319
Net (Decrease) Increase In Cash and Cash Equivalents	(64,125)	150,662
Cash and Cash Equivalents at the Beginning of the Period	845,701	564,208
Cash and Cash Equivalents at the End of the Period	781,576	714,870
Noncash Activities:
Acquisition of real estate in settlement of loans	1,921	7,515
Common stock issued for payment-in-kind	1,617	708
Common stock issued for debt conversion	0	15,000
Cash Paid During The Period:
Interest on deposits and borrowed funds	60,734	65,260
Federal income taxes	(1,600)	2,500
State income taxes	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Cash and cash equivalents:
Cash and due from banks	$ 781,030	$ 845,150
Federal funds sold	546	551
Cash and cash equivalents	781,576	845,701
Interest-earning time deposits with banks	250	250
Investment securities:
Available for sale, at fair value (cost of $901,862 and $674,139, respectively)	890,758	676,592
Held to maturity, at cost and net of allowance for credit losses of $150 (estimated fair value of $265,294 and $268,094, respectively)	323,203	322,675
Investment securities	1,213,961	999,267
Federal Home Loan Bank stock, at cost	10,433	10,206
Loans, net of unearned income	1,765,210	2,069,802
Less: allowance for credit losses	34,299	40,755
Net loans	1,730,911	2,029,047
Premises and equipment, net	72,656	59,585
Intangible assets, net	2,218	2,638
Other real estate, net	29,721	35,084
Accrued interest receivable	11,875	12,455
Other assets	41,409	84,088
Total Assets	3,895,010	4,078,321
Deposits:
Noninterest-bearing demand	415,296	414,604
Interest-bearing demand	1,092,746	1,165,061
Savings	224,436	213,936
Time	1,724,574	1,839,276
Total deposits	3,457,052	3,632,877
Repurchase agreements	7,227	7,119
Accrued interest payable	17,492	17,637
Long-term advances from Federal Home Loan Bank	135,000	135,000
Senior long-term debt	14,214	14,203
Junior subordinated debentures	29,835	29,805
Other liabilities	6,840	15,462
Total Liabilities	3,667,660	3,852,103
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; 16,539,094 and 15,793,433 shares issued and outstanding	16,539	15,793
Surplus	176,492	170,621
Retained earnings	18,742	14,055
Accumulated other comprehensive (loss) income	(17,481)	(7,309)
Total Shareholders' Equity	227,350	226,218
Total Liabilities and Shareholders' Equity	$ 3,895,010	$ 4,078,321