First Guaranty Bancshares, Inc 8-K/A, filed Aug 18, 2025

First Guaranty Bancshares, Inc. (FGBI)

8-K/A 2025-08-18 For: 2025-07-31

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Added on April 12, 2026

About this 8-K/A

First Guaranty Bancshares, Inc filed this 8-K/A on August 18, 2025, reporting on events of July 31, 2025.

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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Louisiana	001-37621	26-0513559
(State or other jurisdiction	(Commission File Number)	(I.R.S. Employer
incorporation or organization)		Identification Number)

400 East Thomas Street
Hammond, Louisiana		70401
(Address of principal executive offices)		(Zip Code)


(985) 345-7685
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)


Item 9.01			Financial Statements and Exhibits
(d)			Exhibits
Exhibit No.			Description
99.1			Press Release dated August 18, 2025.




	FIRST GUARANTY BANCSHARES, INC.
	(Registrant)
Date: August 18, 2025
	By:	/s/Eric J. Dosch
		Eric J. Dosch
		Chief Financial Officer


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	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 held for sale	—		—

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

Short-term advances from Federal Home Loan Bank	—		—
Short-term borrowings	—		—
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 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
Surplus	167,041		149,389
Retained earnings	58,078		72,965
Accumulated other comprehensive (loss) income	(10,209)		(12,868)
Total Shareholders' Equity	263,088		255,049
Total Liabilities and Shareholders' Equity	$	3,969,581	$	3,972,728
See Notes to Consolidated Financial Statements


FIRST GUARANTY BANCSHARES, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF INCOME (unaudited)
	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except share data)	2025		2024		2025		2024
Interest Income:
Loans (including fees)	$	41,013	$	47,552	$	83,982	$	94,470
Deposits with other banks	7,511		3,626		13,510		7,102
Securities (including FHLB stock)	5,797		2,473		11,292		4,987
Total Interest Income	54,321		53,651		108,784		106,559

Interest Expense:
Demand deposits	12,708		17,059		24,912		34,035
Savings deposits	1,336		1,327		2,598		2,554
Time deposits	15,196		10,446		31,086		20,018
Borrowings	2,841		3,577		5,725		6,789
Total Interest Expense	32,081		32,409		64,321		63,396

Net Interest Income	22,240		21,242		44,463		43,163
Less: Provision for credit losses	16,610		6,805		31,158		9,109
Net Interest Income after Provision for Credit Losses	5,630		14,437		13,305		34,054

Noninterest Income:
Service charges, commissions and fees	834		795		1,683		1,528
ATM and debit card fees	778		804		1,525		1,568
Net gains on securities	—		—		—		—
Net gains on sale of loans	—		10		—		10
Net gains on sale of assets	—		13,207		4		13,213
Other	544		710		1,298		1,515
Total Noninterest Income	2,156		15,526		4,510		17,834

Total Business Revenue, Net of Provision for Credit Losses	7,786		29,963		17,815		51,888

Noninterest Expense:
Salaries and employee benefits	7,843		10,440		16,284		20,340
Occupancy and equipment expense	2,605		2,547		5,245		4,818
Other	6,819		7,622		13,755		14,385
Total Noninterest Expense	17,267		20,609		35,284		39,543

(Loss) Income Before Income Taxes	(9,481)		9,354		(17,469)		12,345
Less: (Benefit) provision for income taxes	(2,178)		2,153		(4,000)		2,834
Net (Loss) Income	(7,303)		7,201		(13,469)		9,511
Less: Preferred stock dividends	582		582		1,164		1,164
Net (Loss) Income Available to Common Shareholders	$	(7,885)	$	6,619	$	(14,633)	$	8,347

Per Common Share:
(Loss) Earnings	$	(0.61)	$	0.53	$	(1.15)	$	0.67
Cash dividends paid	$	0.01	$	0.16	$	0.02	$	0.32

Weighted Average Common Shares Outstanding	12,910,785		12,504,717		12,709,905		12,497,313
See Notes to Consolidated Financial Statements


FIRST GUARANTY BANCSHARES, INC. AND SUBSIDIARY
CONSOLIDATED AVERAGE BALANCE SHEETS (unaudited)

	Three Months Ended June 30, 2025						Three Months Ended June 30, 2024
(in thousands except for %)	Average Balance		Interest		Yield/Rate (5)		Average Balance		Interest		Yield/Rate (5)
Assets
Interest-earning assets:
Interest-earning deposits with banks	$	676,456	$	7,511	4.45	%	$	271,113	$	3,626	5.38	%
Securities (including FHLB stock)	671,090		5,797		3.46	%	370,926		2,473		2.68	%
Federal funds sold	573		—		—	%	627		—		—	%
Loans held for sale	—		—		—	%	—		—		—	%
Loans, net of unearned income (6)	2,459,978		41,013		6.69	%	2,807,234		47,552		6.81	%
Total interest-earning assets	3,808,097		$	54,321	5.72	%	3,449,900		$	53,651	6.25	%

Noninterest-earning assets:
Cash and due from banks	20,676						20,264
Premises and equipment, net	66,172						70,790
Other assets	22,876						30,854
Total Assets	$	3,917,821					$	3,571,808

Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Demand deposits	$	1,367,486	$	12,708	3.73	%	$	1,519,363	$	17,059	4.52	%
Savings deposits	243,589		1,336		2.20	%	231,166		1,327		2.31	%
Time deposits	1,406,320		15,196		4.33	%	885,871		10,446		4.74	%
Borrowings	200,862		2,841		5.67	%	239,114		3,577		6.02	%
Total interest-bearing liabilities	3,218,257		$	32,081	4.00	%	2,875,514		$	32,409	4.53	%

Noninterest-bearing liabilities:
Demand deposits	406,409						420,957
Other	39,427						23,342
Total Liabilities	3,664,093						3,319,813

Shareholders' equity	253,728						251,995
Total Liabilities and Shareholders' Equity	$	3,917,821					$	3,571,808
Net interest income			$	22,240					$	21,242

Net interest rate spread (1)					1.72	%					1.72	%
Net interest-earning assets (2)	$	589,840					$	574,386
Net interest margin (3), (4)					2.34	%					2.48	%

Average interest-earning assets to interest-bearing liabilities					118.33	%					119.98	%


FIRST GUARANTY BANCSHARES, INC. AND SUBSIDIARY
CONSOLIDATED AVERAGE BALANCE SHEETS (unaudited)

	Six Months Ended June 30, 2025						Six Months Ended June 30, 2024
(in thousands except for %)	Average Balance		Interest		Yield/Rate (5)		Average Balance		Interest		Yield/Rate (5)
Assets
Interest-earning assets:
Interest-earning deposits with banks	$	612,331	$	13,510	4.45	%	$	266,547	$	7,102	5.36	%
Securities (including FHLB stock)	664,386		11,292		3.43	%	381,570		4,987		2.63	%
Federal funds sold	523		—		—	%	478		—		—	%
Loans held for sale	1,705		—		—	%	—		—		—	%
Loans, net of unearned income (6)	2,541,990		83,982		6.66	%	2,784,384		94,470		6.82	%
Total interest-earning assets	3,820,935		$	108,784	5.74	%	3,432,979		$	106,559	6.24	%

Noninterest-earning assets:
Cash and due from banks	20,517						19,650
Premises and equipment, net	66,550						70,445
Other assets	26,847						29,345
Total Assets	$	3,934,849					$	3,552,419

Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Demand deposits	$	1,370,630	$	24,912	3.67	%	$	1,530,063	$	34,035	4.47	%
Savings deposits	240,265		2,598		2.18	%	227,562		2,554		2.26	%
Time deposits	1,423,912		31,086		4.40	%	868,292		20,018		4.64	%
Borrowings	201,441		5,725		5.73	%	233,635		6,789		5.84	%
Total interest-bearing liabilities	3,236,248		$	64,321	4.01	%	2,859,552		$	63,396	4.46	%

Noninterest-bearing liabilities:
Demand deposits	404,214						420,437
Other	39,679						20,258
Total Liabilities	3,680,141						3,300,247

Shareholders' equity	254,708						252,172
Total Liabilities and Shareholders' Equity	$	3,934,849					$	3,552,419
Net interest income			$	44,463					$	43,163

Net interest rate spread (1)					1.73	%					1.78	%
Net interest-earning assets (2)	$	584,687					$	573,427
Net interest margin (3), (4)					2.35	%					2.53	%

Average interest-earning assets to interest-bearing liabilities					118.07	%					120.05	%


	June 30, 2025				March 31, 2025				December 31, 2024				September 30, 2024
(in thousands except for %)	Balance		As % of Category		Balance		As % of Category		Balance		As % of Category		Balance		As % of Category
Real Estate:
Construction & land development	$	268,828	11.1	%	$	288,291	11.4	%	$	330,048	12.2	%	$	323,123	11.6	%
Farmland	32,267		1.3	%	29,961		1.2	%	35,991		1.3	%	39,569		1.4	%
1- 4 Family	440,465		18.2	%	444,373		17.6	%	450,371		16.7	%	471,885		17.0	%
Multifamily	144,864		6.0	%	144,518		5.7	%	165,121		6.1	%	162,243		5.8	%
Non-farm non-residential	1,052,503		43.5	%	1,117,174		44.4	%	1,159,842		42.9	%	1,165,552		42.0	%
Total Real Estate	1,938,927		80.1	%	2,024,317		80.3	%	2,141,373		79.2	%	2,162,372		77.8	%
Non-Real Estate:
Agricultural	42,831		1.8	%	37,599		1.5	%	40,722		1.5	%	47,552		1.7	%
Commercial and industrial(1)	238,144		9.9	%	234,511		9.3	%	257,518		9.5	%	274,441		9.9	%
Commercial leases	159,209		6.6	%	183,993		7.3	%	220,200		8.2	%	248,563		9.0	%
Consumer and other	38,240		1.6	%	39,773		1.6	%	42,267		1.6	%	45,672		1.6	%
Total Non-Real Estate	478,424		19.9	%	495,876		19.7	%	560,707		20.8	%	616,228		22.2	%
Total loans before unearned income	2,417,351		100.0	%	2,520,193		100.0	%	2,702,080		100.0	%	2,778,600		100.0	%
Unearned income	(6,846)				(7,405)				(8,300)				(8,949)
Total loans net of unearned income	$	2,410,505			$	2,512,788			$	2,693,780			$	2,769,651


(in thousands)	June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024
Nonaccrual loans:
Real Estate:
Construction and land development	$	1,766		$	11,502		$	3,624		$	2,815
Farmland	1,785			2,177			2,619			1,189
1- 4 family	11,866			10,582			10,053			9,563
Multifamily	34,668			26,533			27,542			537
Non-farm non-residential	59,668			72,949			54,171			42,414
Total Real Estate	109,753			123,743			98,009			56,518
Non-Real Estate:
Agricultural	1,782			1,798			1,992			1,968
Commercial and industrial	5,567			6,152			6,762			3,711
Commercial leases	1,961			1,533			1,533			3,334
Consumer and other	116			167			233			257
Total Non-Real Estate	9,426			9,650			10,520			9,270
Total nonaccrual loans	119,179			133,393			108,529			65,788

Loans 90 days and greater delinquent & accruing:
Real Estate:
Construction and land development	—			—			7,394			—
Farmland	—			—			—			—
1- 4 family	—			—			—			77
Multifamily	—			—			—			—
Non-farm non-residential	284			387			4,108			—
Total Real Estate	284			387			11,502			77
Non-Real Estate:
Agricultural	—			—			—			—
Commercial and industrial	—			—			—			—
Commercial leases	—			—			—			—
Consumer and other	—			—			—			—
Total Non-Real Estate	—			—			—			—
Total loans 90 days and greater delinquent & accruing	284			387			11,502			77

Total non-performing loans	119,463			133,780			120,031			65,865

Real Estate Owned:
Real Estate Loans:
Construction and land development	7,384			—			226			203
Farmland	—			—			—			—
1- 4 family	192			62			3			267
Multifamily	—			—			—			—
Non-farm non-residential	81			90			90			690
Total Real Estate	7,657			152			319			1,160
Non-Real Estate Loans:
Agricultural	—			—			—			—
Commercial and industrial	—			—			—			—
Commercial leases	—			—			—			—
Consumer and other	—			—			—			—
Total Non-Real Estate	—			—			—			—
Total Real Estate Owned	7,657			152			319			1,160

Total non-performing assets	$	127,120		$	133,932		$	120,350		$	67,025

Non-performing assets to total loans	5.27		%	5.33		%	4.47		%	2.42		%
Non-performing assets to total assets	3.20		%	3.50		%	3.03		%	1.71		%
Non-performing loans to total loans	4.96		%	5.32		%	4.46		%	2.38		%
Nonaccrual loans to total loans	4.94		%	5.31		%	4.03		%	2.38		%
Allowance for credit losses to nonaccrual loans	49.40		%	32.25		%	32.08		%	50.59		%
Net loan charge-offs to average loans	0.60		%	1.03		%	0.64		%	0.62		%


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2025		2024		2025		2024
Other noninterest expense:
Legal and professional fees	$	671	$	1,504	$	1,759	$	2,477
Data processing	349		406		686		783
ATM fees	502		394		852		813
Marketing and public relations	163		370		404		703
Taxes - sales, capital, and franchise	543		607		1,043		1,211
Operating supplies	49		105		86		206
Software expense and amortization	1,188		1,367		2,404		2,620
Travel and lodging	126		260		198		487
Telephone	104		137		195		242
Amortization of core deposit intangibles	174		174		348		348
Donations	82		108		140		183
Net costs from other real estate and repossessions	24		179		74		383
Regulatory assessment	1,609		989		3,153		1,922
Other	1,235		1,022		2,413		2,007
Total other noninterest expense	$	6,819	$	7,622	$	13,755	$	14,385


	At June 30,			At December 31,
(in thousands except for share data and %)	2025			2024			2023			2022			2021
Tangible Common Equity
Total shareholders' equity	$	263,088		$	255,049		$	249,631		$	234,991		$	223,889
Adjustments:
Preferred	33,058			33,058			33,058			33,058			33,058
Goodwill	12,900			12,900			12,900			12,900			12,900
Acquisition intangibles	2,614			2,962			3,658			4,355			5,051
Other intangibles	100			100			100			—			—
Tangible common equity	$	214,416		$	206,029		$	199,915		$	184,678		$	172,880
Common shares outstanding	15,120,172			12,504,717			12,475,424			10,716,796			10,716,796
Book value per common share	$	15.21		$	17.75		$	17.36		$	18.84		$	17.81
Tangible book value per common share	$	14.18		$	16.48		$	16.03		$	17.23		$	16.13
Tangible Assets
Total Assets	$	3,969,581		$	3,972,728		$	3,552,772		$	3,151,347		$	2,878,120
Adjustments:
Goodwill	12,900			12,900			12,900			12,900			12,900
Acquisition intangibles	2,614			2,962			3,658			4,355			5,051
Other intangibles	100			100			100			—			—
Tangible Assets	$	3,953,967		$	3,956,766		$	3,536,114		$	3,134,092		$	2,860,169
Tangible common equity to tangible assets	5.42		%	5.21		%	5.65		%	5.89		%	6.04		%