NASDAQ: FGBI
First Guaranty Bancshares, Inc.CIK 0001408534 · SIC 6035 · Savings Institutions (Federal)
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Quarterly net income (to common) of $3.4M against a loss of $3.4M a year earlier; FGBI enters FDIC/OFI Consent Order requiring 9% Tier 1 leverage, 14% total capital
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First Guaranty returns to profitability with $3.4M Q2 net income, exits Texas market
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First Guaranty declares $0.01 quarterly dividend, marking 132nd consecutive payout
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First Guaranty Bancshares shareholders approve all proposals at annual meeting
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net income $2.7M. First Guaranty returns to profit, exits Texas, extends debt relief through 2028
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First Guaranty Bancshares releases Q1 2026 earnings report
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First Guaranty repurchases $14.8M in branch properties from chairman's son and directors
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First Guaranty declares routine quarterly dividend on Series A Preferred Stock
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net income -$56.0M. First Guaranty posts loss on credit provision, single-loan charge-off
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Latest financial statements
From 10-Q filed Aug 14, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Income (Unaudited)
(in thousands, except share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 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 | — | — | 1 | — |
| Net gains on sale of assets | — | — | 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) | 0.17 | (0.61) | 0.31 | (1.15) |
| Cash dividends paid | 0.01 | 0.01 | 0.02 | 0.02 |
| Weighted Average Common Shares Outstanding | 16,326,060 | 12,910,785 | 16,062,514 | 12,709,905 |
| See Notes to Consolidated Financial Statements | ||||
Consolidated Balance Sheets (Unaudited)
(in thousands, except share data)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| 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 |
| Liabilities and Shareholders' Equity | ||
| 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 |
| 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; 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 |
Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 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) | — |
| 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 | — | — |
| Proceeds from maturities, calls and sales of AFS securities | 112,646 | 119,937 |
| Funds invested in certificates of deposit | — | — |
| Funds invested in AFS securities | (338,108) | (231,470) |
| Funds invested in preferred securities | — | — |
| Proceeds from redemption of preferred securities | — | — |
| Funds invested in Federal Home Loan Bank stock | — | — |
| Proceeds from sale/redemption of Federal Home Loan Bank stock | — | — |
| 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 |
| 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 | — | — |
| Repayment of long-term borrowings | — | (1,008) |
| Proceeds from subordinated debentures | — | — |
| 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 | — | 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 | — | — |
Amounts as printed on the EDGAR/iXBRL face — (in thousands, except share data); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗