net income $2.7M. First Guaranty returns to profit, exits Texas, extends debt relief through 2028

Filed May 13, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 12, 2025 · ~1 min read

Key Changes

• high

  Q1 2026 net income of $2.7M vs. $6.2M loss prior year, driven by 82% drop in credit provisions ($2.6M vs. $14.5M) as nonaccrual loans fell to $54.4M from $133.4M year-ago peak.

  MD&A: Net Income & Credit Provisions verify on EDGAR →
• high

  Announced sale of five Texas branches (~$270M deposits, ~$110M loans) to Armstrong Bank, exiting Dallas-Fort Worth and Waco markets as part of ongoing risk-reduction strategy.

  MD&A: Texas Market Exit verify on EDGAR →
• high

  Extended waiver of principal payments and stock-for-interest option on related-party debt through March 2028, providing two additional years of capital flexibility amid continued liquidity management.

  MD&A: Debt Amendment Extensions verify on EDGAR →