[Financial Performance Overview](index=1&type=section&id=Financial%20Performance%20Overview) First Guaranty Bancshares, Inc. reports Q2 and YTD 2025 financial results, focusing on strategic de-risking, expense reduction, and asset quality [Q2 2025 Financial Highlights](index=1&type=section&id=Q2%202025%20Financial%20Highlights) First Guaranty Bancshares, Inc. reduced non-performing assets and noninterest expenses in Q2 2025, despite a significant provision for credit losses impacting financial results - Continued its business strategy to reduce risk in the loan portfolio, decreasing non-performing assets by **$6.8 million** compared to March 31, 2025. This included a successful workout of a commercial real estate loan and the sale of an **$8.8 million** non-accrual loan in July 2025[3](index=3&type=chunk) - Recorded a substantial provision for credit losses of **$14.7 million** for Q2 2025, primarily due to specific reserves on individually evaluated loans and trends in the loan portfolio. The allowance for credit losses (ACL) grew to **2.36%** of total loans[3](index=3&type=chunk) - Successfully executed expense reduction plans, with noninterest expense declining by **$0.8 million** from Q1 2025 and **$3.3 million** from Q2 2024, achieving an annual run rate savings of approximately **$13.4 million**[3](index=3&type=chunk) - Loan balances continued to decline as part of a strategy to reduce concentration risk, particularly in commercial real estate. Total loans fell to **$2.41 billion** at June 30, 2025, down from **$2.51 billion** at March 31, 2025[3](index=3&type=chunk) [Key Financial Results (Q2 & YTD 2025)](index=1&type=section&id=Key%20Financial%20Results%20%28Q2%20%26%20YTD%202025%29) The company reported a net loss for Q2 and YTD 2025, primarily due to a substantial increase in the provision for credit losses, despite stable net interest income Net (Loss) Income and (Loss) Earnings Per Share | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Net (Loss) Income** | $(5.8) million | $7.2 million | $(12.0) million | $9.5 million | | **(Loss) Earnings Per Share** | $(0.50) | $0.53 | $(1.04) | $0.67 | Net Interest Income and Provision for Credit Losses | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Net Interest Income** | $22.2 million | $21.2 million | $44.5 million | $43.2 million | | **Provision for Credit Losses** | $14.7 million | $6.8 million | $29.3 million | $9.1 million | Key Performance Ratios | Ratio | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Return on Average Assets** | (0.60)% | 0.81% | (0.61)% | 0.54% | | **Return on Average Common Equity** | (11.66)% | 12.16% | (11.97)% | 7.66% | [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) Consolidated financial statements for First Guaranty Bancshares, Inc. detail balance sheet shifts, income statement performance, and net interest margin trends [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Total assets remained stable at June 30, 2025, with a strategic decrease in net loans offset by increases in cash and investment securities, while equity grew Selected Balance Sheet Data (in thousands) | Account | June 30, 2025 | December 31, 2024 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | **Total Assets** | $3,971,088 | $3,972,728 | $(1,640) | (0.0)% | | Net Loans | $2,353,542 | $2,658,969 | $(305,427) | (11.5)% | | Cash and cash equivalents | $714,870 | $564,208 | $150,662 | 26.7% | | Investment securities | $719,722 | $602,719 | $117,003 | 19.4% | | **Total Deposits** | $3,481,338 | $3,476,260 | $5,078 | 0.1% | | **Total Shareholders' Equity** | $264,559 | $255,049 | $9,510 | 3.7% | [Consolidated Statements of Income](index=7&type=section&id=Consolidated%20Statements%20of%20Income) The company reported a net loss in Q2 2025, primarily driven by a substantial increase in the provision for credit losses and a sharp decline in noninterest income Selected Income Statement Data (in thousands) | Account | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | **Net Interest Income** | $22,240 | $21,242 | $998 | 4.7% | | **Provision for credit losses** | $14,703 | $6,805 | $7,898 | 116.1% | | **Total Noninterest Income** | $2,156 | $15,526 | $(13,370) | (86.1)% | | **Total Noninterest Expense** | $17,267 | $20,609 | $(3,342) | (16.2)% | | **Net (Loss) Income** | $(5,831) | $7,201 | $(13,032) | (181.0)% | [Consolidated Average Balance Sheets and Net Interest Margin](index=8&type=section&id=Consolidated%20Average%20Balance%20Sheets%20and%20Net%20Interest%20Margin) Net interest margin compressed in Q2 2025 due to a lower yield on interest-earning assets, despite a decrease in the cost of interest-bearing liabilities Net Interest Margin Analysis | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Net Interest Margin** | 2.34% | 2.48% | 2.35% | 2.53% | | **Net Interest Rate Spread** | 1.72% | 1.72% | 1.73% | 1.78% | | **Yield on Interest-Earning Assets** | 5.72% | 6.25% | 5.74% | 6.24% | | **Cost of Interest-Bearing Liabilities** | 4.00% | 4.53% | 4.01% | 4.46% | [Asset Quality and Loan Portfolio Analysis](index=3&type=section&id=Asset%20Quality%20and%20Loan%20Portfolio%20Analysis) Analysis of asset quality and the loan portfolio reveals strategic shifts in composition and trends in nonperforming assets [Loan Portfolio Composition](index=10&type=section&id=Loan%20Portfolio%20Composition) The total loan portfolio strategically declined to $2.41 billion at June 30, 2025, with real estate loans comprising the majority and commercial real estate exposure actively reduced Loan Portfolio Breakdown (in thousands) | Loan Category | June 30, 2025 | March 31, 2025 | Dec 31, 2024 | Sept 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Total Real Estate** | $1,938,927 | $2,024,317 | $2,141,373 | $2,162,372 | | **Total Non-Real Estate** | $478,424 | $495,876 | $560,707 | $616,228 | | **Total Loans** | $2,417,351 | $2,520,193 | $2,702,080 | $2,778,600 | [Nonperforming Assets (NPAs)](index=11&type=section&id=Nonperforming%20Assets%20%28NPAs%29) Nonperforming assets decreased quarter-over-quarter but remain elevated year-over-year, with improved allowance for credit losses coverage on nonaccrual loans Nonperforming Assets Trend (in thousands) | Metric | June 30, 2025 | March 31, 2025 | Dec 31, 2024 | Sept 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Total nonaccrual loans** | $119,179 | $133,393 | $108,529 | $65,788 | | **Total Real Estate Owned** | $7,657 | $152 | $319 | $1,160 | | **Total non-performing assets** | $127,120 | $133,932 | $120,350 | $67,025 | | **NPAs to total assets** | 3.20% | 3.50% | 3.03% | 1.71% | | **Allowance for credit losses to nonaccrual loans** | 47.80% | 32.25% | 32.08% | 50.59% | - The six largest non-performing loan relationships comprise **75%** of total non-performing loans, with significant exposures in independent living centers, multifamily complexes, and assisted living centers[4](index=4&type=chunk) [Expense Analysis](index=13&type=section&id=Expense%20Analysis) An analysis of noninterest expenses reveals key drivers behind changes in operating costs, including personnel and professional fees [Noninterest Expense Breakdown](index=13&type=section&id=Noninterest%20Expense%20Breakdown) Total noninterest expense significantly decreased in Q2 2025, primarily due to reductions in salaries, employee benefits, and legal and professional fees Other Noninterest Expense Components (in thousands) | Expense Category | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Change ($) | | :--- | :--- | :--- | :--- | | Legal and professional fees | $671 | $1,504 | $(833) | | Software expense and amortization | $1,188 | $1,367 | $(179) | | Regulatory assessment | $1,609 | $989 | $620 | | **Total other noninterest expense** | **$6,819** | **$7,622** | **$(803)** | - Salaries and employee benefits, a major component of noninterest expense, decreased to **$7.8 million** in Q2 2025 from **$10.4 million** in Q2 2024[12](index=12&type=chunk) - The number of full-time equivalent employees was reduced to **360** at June 30, 2025, down from **495** at June 30, 2024, contributing to lower personnel costs[4](index=4&type=chunk) [Dividends and Capital](index=4&type=section&id=Dividends%20and%20Capital) The company's dividend declaration and its impact on capital are detailed, reflecting strategic adjustments to enhance capital [Dividend Declaration](index=4&type=section&id=Dividend%20Declaration) First Guaranty significantly reduced its common stock dividend to $0.01 per share in Q2 2025 as a strategic move to increase capital, while maintaining preferred stock dividends Common Stock Dividend Per Share | Period | Dividend Per Share | | :--- | :--- | | **Q2 2025** | $0.01 | | **Q2 2024** | $0.16 | - The reduction in the common stock dividend was a strategic decision to increase capital, aligning with the new business strategy announced in Q3 2024[8](index=8&type=chunk) - The company paid preferred stock dividends of **$1.2 million** during the first six months of 2025, consistent with the same period in 2024[8](index=8&type=chunk) [Non-GAAP Financial Measures](index=14&type=section&id=Non-GAAP%20Financial%20Measures) Reconciliation of GAAP to non-GAAP financial measures provides alternative insights into the company's capital adequacy, specifically tangible book value per share [Reconciliation of GAAP to Non-GAAP Measures](index=14&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Measures) Non-GAAP measures, including tangible book value per share, are reconciled, showing a decrease in tangible book value per share but a slight increase in tangible common equity to tangible assets ratio Tangible Book Value Per Share Reconciliation (in thousands, except per share data) | Metric (in thousands, except per share data) | At June 30, 2025 | At December 31, 2024 | | :--- | :--- | :--- | | Total shareholders' equity (GAAP) | $264,559 | $255,049 | | Less: Preferred Stock, Goodwill, Intangibles | $(48,672) | $(49,020) | | **Tangible common equity (Non-GAAP)** | **$215,887** | **$206,029** | | Common shares outstanding | 15,120,172 | 12,504,717 | | **Book value per common share (GAAP)** | **$15.31** | **$17.75** | | **Tangible book value per common share (Non-GAAP)** | **$14.28** | **$16.48** | [Corporate Information and Forward-Looking Statements](index=4&type=section&id=Corporate%20Information%20and%20Forward-Looking%20Statements) Corporate information about First Guaranty Bancshares, Inc. is provided, alongside important disclaimers regarding forward-looking statements [About First Guaranty](index=4&type=section&id=About%20First%20Guaranty) First Guaranty Bancshares, Inc. is the holding company for First Guaranty Bank, a Louisiana-chartered institution operating 35 locations across four states - First Guaranty Bancshares, Inc. is the holding company for First Guaranty Bank, founded in **1934**[5](index=5&type=chunk) - The bank operates **35** locations throughout Louisiana, Texas, Kentucky, and West Virginia[5](index=5&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) This report contains forward-looking statements subject to significant risks and uncertainties, with actual results potentially differing materially from expectations - The report contains forward-looking statements that are not historical facts and are subject to risks and uncertainties[6](index=6&type=chunk) - The company disclaims any obligation to publicly update forward-looking statements and warns that actual results may differ materially from expectations[6](index=6&type=chunk)

Company Performance - First Guaranty Bancshares (FGBI) reported a quarterly loss of $0.61 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.20, and compared to earnings of $0.53 per share a year ago, indicating an earnings surprise of -205.00% [1] - The company posted revenues of $24.4 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 1.63%, and down from $36.77 million in the same quarter last year [2] - Over the last four quarters, the company has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - First Guaranty Bancshares shares have declined approximately 28.5% since the beginning of the year, contrasting with the S&P 500's gain of 9.7% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.09 on revenues of $25.18 million, and for the current fiscal year, it is -$0.80 on revenues of $99.82 million [7] Industry Outlook - The Zacks Industry Rank for Banks - Southeast is currently in the top 6% of over 250 Zacks industries, suggesting a favorable outlook for the industry [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or FIRST GUARANTY BANCSHARES, INC. (Exact name of registrant as specified in its charter) Louisiana 26-0513559 (State or other jurisdiction incorporation or organization) (I.R.S. Employer Identification Number) 400 East Thomas Street Hammond, Louisiana 70401 (Address of principal executive offi ...

Nasdaq-listed Fundamental Global Inc. has filed an S-3 registration statement with the U.S. Securities and Exchange Commission to offer up to $5 billion of securities in multiple tranches. The company plans to use the majority of net proceeds from the common stock offering to acquire Ethereum (ETH), with the remainder allocated to working capital, general corporate purposes, and operating expenses. https://t.co/Qad0h4s4Te ...

Core Viewpoint - First Guaranty Bancshares reported a significant net loss in Q2 2025, driven by credit issues and portfolio restructuring, despite modest growth in net interest income [1][5][10] Financial Performance - GAAP EPS for Q2 2025 was a loss of $0.50, missing analyst expectations by $0.30, and representing a 194.3% decline year-over-year from a profit of $0.53 in Q2 2024 [2][5] - Net income (GAAP) fell to a loss of $5.8 million from a profit of $7.2 million in Q2 2024, marking a 180.7% decrease [2][5] - Net interest income increased to $22.2 million, a 4.7% rise from $21.2 million in Q2 2024 [2][6] - Noninterest expense decreased by 16% to $17.3 million compared to Q2 2024 [2][6] Asset Quality and Risk Management - The allowance for credit losses rose to 2.36% of total loans, up from 1.29% at the end of 2024, reflecting management's concerns over troubled loans [2][7] - Non-performing loans constituted 4.96% of total loans, an increase from 4.46% at the prior year-end, with six large loan relationships accounting for 75% of the nonperforming balance [7][8] Strategic Focus - The bank is prioritizing risk control within its loan portfolio, particularly in commercial real estate, and is implementing cost management measures including staff reductions [4][8] - The bank's real estate secured loans decreased to $1.94 billion, representing 80.1% of the total portfolio, with expectations for further reductions [8] - A significant reduction in the quarterly dividend to $0.01 per share from $0.16 in Q2 2024 was made to enhance capital during restructuring efforts [10] Future Outlook - Management did not provide specific revenue or earnings guidance but indicated a continued focus on reducing commercial real estate loan exposures and plans for further asset sales [9]

Financial Data and Key Metrics Changes - The company reported a loss of $0.54 per share for the first quarter of 2025, attributed to a provision expense of $5.8 million from the sale of $70 million worth of loans due to credit deterioration [23][24] - Total provision for the quarter was $14.5 million, with net interest income before provision at $22.2 million, an increase from $21.9 million in the same quarter last year [25][24] - Noninterest income increased to $2.4 million from $2.3 million year-over-year, while noninterest expense decreased to $18 million from $18.9 million [25][24] Business Line Data and Key Metrics Changes - The management team is focusing on addressing nonperforming assets, which are concentrated in six major loans totaling approximately $105.3 million [24] - The strategy includes reducing risk-weighted assets and improving capital ratios, with the risk-weighted capital ratio improving to 12.74% as of March 2025, up from 11.28% in June 2024 [28] Market Data and Key Metrics Changes - The company has reduced construction lending commitments and is working towards a 300% concentration of commercial real estate to total capital [28] - There has been a dramatic increase in on-balance sheet liquidity, which is crucial for the bank's operations [29] Company Strategy and Development Direction - The company has implemented a change in business strategy since July 2024, focusing on reducing risk and improving capital ratios [27][28] - Cost reduction measures have achieved approximately $12 million in annualized savings compared to last year [30] - The management team is committed to addressing nonperforming assets aggressively and improving overall financial health [30][31] Management's Comments on Operating Environment and Future Outlook - The management team acknowledges the challenges faced in 2024 but expresses confidence in overcoming these issues and improving results by the end of 2025 [8][31] - The CEO emphasized the importance of direction and continuous improvement, stating that the company must not drift but actively work towards its goals [31][32] Other Important Information - The company has reduced its common stock dividend to increase capital at the bank level, reflecting a shift towards strengthening the bank's financial position [28] - The management team has fewer staff but believes they have the right personnel to move forward effectively [30] Q&A Session Summary Question: Are there any questions from virtual attendees? - There were no questions submitted by virtual attendees during the session [34] Question: Are there any questions from the room? - No questions were raised from the attendees present in the room [35]

Group 1 - First Guaranty Bancshares (FGBI) reported a quarterly loss of $0.54 per share, significantly worse than the Zacks Consensus Estimate of $0.17, marking an earnings surprise of -417.65% [1] - The company posted revenues of $24.58 million for the quarter ended March 2025, slightly exceeding the Zacks Consensus Estimate by 0.07%, and showing an increase from $24.23 million year-over-year [2] - The stock has underperformed, losing about 15.4% since the beginning of the year, compared to a decline of -3.8% for the S&P 500 [3] Group 2 - The earnings outlook for First Guaranty Bancshares is mixed, with current consensus EPS estimates at $0.20 for the coming quarter and $0.89 for the current fiscal year [7] - The Zacks Industry Rank for Banks - Southeast is in the top 20% of over 250 Zacks industries, indicating a favorable environment for the sector [8] - First National Corp. is another company in the same industry, expected to report quarterly earnings of $0.53 per share, reflecting a year-over-year change of +3.9% [9]

Financial Performance - First Guaranty recorded a net loss of $6.2 million for Q1 2025, a decrease of $8.5 million or 366.9% compared to a net income of $2.3 million in Q1 2024[3] - Net loss available to common shareholders was $(6,748), compared to net income of $1,728 in the previous year, indicating a significant downturn[11] - Cash dividends paid per common share decreased to $0.01 from $0.16, a reduction of 93.8%[11] Loan and Asset Management - Total loans decreased to $2.51 billion at March 31, 2025, down $181.0 million or 6.7% from $2.69 billion at December 31, 2024[3] - Nonaccrual loan balances increased to $133.4 million, an increase of $24.9 million compared to $108.5 million at December 31, 2024[4] - The provision for credit losses was $14.5 million for Q1 2025, compared to $2.3 million for Q1 2024, with $5.8 million related to the sale of two commercial real estate loans[3] - Total assets decreased by $143.5 million to $3.8 billion at March 31, 2025, compared to $4.0 billion at December 31, 2024[3] - The allowance for credit losses was 1.71% of total loans at March 31, 2025, up from 1.29% at December 31, 2024[3] - Non-performing loans totaled $133,780 thousand as of March 31, 2025, representing an increase of 11.5% from $120,031 thousand on December 31, 2024[18] - The ratio of non-performing assets to total loans increased to 5.33% as of March 31, 2025, up from 4.47% on December 31, 2024[18] - As of March 31, 2025, First Guaranty's total loan portfolio amounted to $2,520,193 thousand, a decrease of 6.7% from $2,702,080 thousand on December 31, 2024[16] Income and Expenses - Net interest income for Q1 2025 was $22.2 million, an increase from $21.9 million in Q1 2024[3] - The net interest margin for Q1 2025 was 2.35%, a decrease of 23 basis points from 2.58% in Q1 2024[3] - Interest income from loans decreased to $42,969, down from $46,918, a decrease of about 8.5%[11] - Net interest income after provision for credit losses dropped to $7,675, down from $19,617, a decline of approximately 60.9%[11] - Provision for credit losses increased significantly to $14,548, compared to $2,304, marking a rise of about 532.5%[11] - Total noninterest expense decreased slightly to $18,017, down from $18,934, a reduction of about 4.8%[11] Equity and Shareholder Information - Book value per common share decreased to $17.21 as of March 31, 2025, down from $17.75 at December 31, 2024[4] - Total shareholders' equity as of March 31, 2025, is $251,445,000, compared to $255,049,000 at December 31, 2024, reflecting a decrease of approximately 0.24%[23] - Tangible common equity stands at $202,599,000 as of March 31, 2025, down from $206,029,000 at December 31, 2024, indicating a decline of about 2.07%[23] - Common shares outstanding increased to 12,691,504 as of March 31, 2025, from 12,504,717 at December 31, 2024, representing an increase of approximately 1.49%[23] Operational Changes - First Guaranty closed three branches and consolidated two existing branches into one location on March 7, 2025, with no material impact on operations[4]

Financial Performance - First Guaranty recorded a net loss of $6.2 million for the three months ended March 31, 2025, compared to a net income of $2.3 million for the same period in 2024, representing a decrease of $8.5 million [107]. - Total assets decreased by $143.5 million to $3.8 billion at March 31, 2025, a decline of 3.6% from December 31, 2024, driven by decreases in investment securities and net loans [111]. - Total shareholders' equity decreased to $251.4 million at March 31, 2025, down from $255.0 million at December 31, 2024, primarily due to a net loss of $6.2 million [156]. - Net loss for the three months ended March 31, 2025 was $6.2 million, a decrease of $8.5 million from net income of $2.3 million for the same period in 2024 [157]. - Noninterest expense decreased to $18.0 million for the three months ended March 31, 2025, from $18.9 million for the same period in 2024 [176]. Loan and Credit Quality - Total loans decreased to $2.51 billion at March 31, 2025, down $181.0 million or 6.7% from December 31, 2024, continuing the strategy to reduce loan concentration risk [107]. - Nonaccrual loan balances increased to $133.4 million at March 31, 2025, an increase of $24.9 million compared to December 31, 2024, primarily concentrated in two commercial real estate loans [107]. - The provision for credit losses was $14.5 million for the first quarter of 2025, significantly higher than $2.3 million for the same period in 2024, with $5.8 million related to the sale of two commercial real estate loans [107]. - Nonperforming assets totaled $133.9 million, or 3.50% of total assets, an increase of $13.6 million, or 11.3%, from $120.4 million, or 3.03%, at December 31, 2024 [127]. - Nonaccrual loans increased from $108.5 million at December 31, 2024, to $133.4 million at March 31, 2025, with a significant portion concentrated in two commercial real estate relationships totaling $40.3 million [128]. Deposits and Funding - Total deposits decreased by $136.8 million, or 3.9%, to $3.3 billion from December 31, 2024, to March 31, 2025 [143]. - Noninterest-bearing demand deposits increased by $21.6 million, or 5.3%, to $425.6 million at March 31, 2025 [143]. - Interest-bearing demand deposits decreased by $138.4 million, or 10.0%, to $1.2 billion at March 31, 2025 [143]. - Public funds deposits totaled $928.4 million at March 31, 2025, down from $1.0 billion at December 31, 2024 [150]. - The total amount of uninsured deposits was estimated at $294.9 million at March 31, 2025 [146]. Capital and Regulatory Compliance - As of March 31, 2025, the Bank's capital conservation buffer was 4.74%, exceeding the minimum requirement of 2.50% [185]. - The Bank satisfied the minimum regulatory capital requirements and was classified as well capitalized as of March 31, 2025 [188]. - The Tier 1 Risk-based Capital Ratio for the Bank was 8.00% as of March 31, 2025, compared to 11.49% at December 31, 2024 [189]. - The total risk-based capital ratio for the Bank was 10.00% as of March 31, 2025, down from 12.74% at December 31, 2024 [189]. Interest Income and Expense - Net interest income for the three months ended March 31, 2025 was $22.2 million, slightly up from $21.9 million for the same period in 2024 [107]. - Interest income increased by $1.6 million, or 2.9%, to $54.5 million for the three months ended March 31, 2025 compared to the prior year [161]. - Interest income on loans decreased by $3.9 million, or 8.4%, to $43.0 million for the three months ended March 31, 2025 [163]. - Interest expense increased by $1.3 million, or 4.0%, to $32.2 million for the three months ended March 31, 2025 [165]. - The net interest margin was 2.35% for the three months ended March 31, 2025, down from 2.58% for the same period in 2024 [169]. Business Strategy and Operations - First Guaranty declared cash dividends of $0.01 per common share in the first quarter of 2025, a reduction from $0.16 per share in the same period of 2024, as part of a new business strategy to increase capital [109]. - First Guaranty closed three branches and consolidated two existing branches into one location on March 7, 2025, with no material impact on operations [109]. - The company modified its business plan in 2024 to reduce the liability-sensitive nature of its balance sheet [192].

Group 1 - The article emphasizes that the opinions expressed are personal and do not constitute investment advice [1][3][4] - It highlights the importance of conducting independent research and analysis before making investment decisions [1][3][4] - The author has a beneficial long position in FGBI shares, indicating a personal investment interest [2] Group 2 - The content is presented as opinion pieces rather than formal investment recommendations [1][3][4] - There is a disclaimer regarding the past performance not guaranteeing future results, underscoring the speculative nature of investments [4] - The article notes that the views expressed may not reflect those of Seeking Alpha as a whole, indicating a diversity of opinions among contributors [4]