FIRST GTY BANCSH(FGBIP) - 2025 Q4 - Annual Results

Financial Performance - Net income for Q4 2025 was $2.5 million, an increase of $1.5 million from $1.0 million in Q4 2024[2] - The company reported a net loss of $56,022,000 for the year ended December 31, 2025, compared to a net income of $12,448,000 in 2024[12] - Earnings per common share for 2025 was $(4.17), a significant decline from $0.81 in 2024[12] - Noninterest income for the year ended December 31, 2025, was $8,476,000, down from $24,739,000 in 2024, a decrease of 65.73%[12] - Net interest income for 2025 was $86,942,000, slightly down from $88,438,000 in 2024, indicating a decrease of 1.7%[18] Asset and Liability Changes - Total assets increased by $105.6 million to $4.1 billion at December 31, 2025, compared to $4.0 billion at December 31, 2024[2] - Total liabilities increased to $3,670,024,000 in 2025 from $3,452,900,000 in 2024, an increase of 6.3%[18] - Total assets increased to $4,078,321,000 as of December 31, 2025, compared to $3,972,728,000 in 2024, reflecting a growth of 2.66%[10] Loan and Deposit Trends - Total loans decreased by $624.0 million, or 23.2%, to $2.1 billion at December 31, 2025, from $2.7 billion at December 31, 2024[2] - Total deposits increased by $156.6 million, or 4.5%, to $3.6 billion at December 31, 2025, compared to $3.4 billion at December 31, 2024[2] - Net loans decreased to $2,029,047,000 in 2025 from $2,658,969,000 in 2024, a decline of 23.66%[10] Credit Quality and Losses - The allowance for credit losses was 1.97% of total loans at December 31, 2025, up from 1.29% at December 31, 2024[2] - Charge-offs for Q4 2025 totaled $47.8 million, compared to $4.9 million in Q4 2024[3] - Provision for credit losses increased to $81,729,000 in 2025 from $20,034,000 in 2024, an increase of 307.66%[12] - Nonaccrual loans decreased by $48.9 million to $59.6 million at December 31, 2025, from $108.5 million at December 31, 2024[3] Capital and Regulatory Compliance - The capital conservation buffer as of December 31, 2025, was 5.48%, exceeding the minimum requirement of 2.50%[39] - The Tier 1 leverage ratio for the bank was 6.90% as of December 31, 2025, above the minimum requirement of 5.00%[42] - The total risk-based capital ratio for the bank was 13.48% as of December 31, 2025, exceeding the minimum requirement of 10.00%[42] - The bank satisfied the minimum regulatory capital requirements and was classified as well capitalized as of December 31, 2025[41] Shareholder Returns - First Guaranty declared cash dividends of $0.01 per common share for both Q4 2025 and Q4 2024, maintaining 130 consecutive quarterly dividends[8] - Tangible book value per common share decreased to $12.08 as of December 31, 2025, from $16.48 in 2024, a decline of 26.0%[37] Nonperforming Assets - Total nonperforming assets amounted to $95,461 thousand as of December 31, 2025, down from $126,315 thousand in the previous quarter[22] - Nonperforming loans to total loans ratio was 2.92%, down from 5.01% in the previous quarter[22] - Total nonperforming loans were reported at $60,377 thousand, down from $114,265 thousand[22]