First Guaranty Bancshares swings to quarterly loss on exposure to auto parts bankruptcy

Core Viewpoint - First Guaranty Bancshares reported a loss in the third quarter due to an impairment charge and increased reserves for bad loans related to an auto parts manufacturer bankruptcy [1] Financial Performance - The company experienced a third-quarter loss, indicating a significant financial setback [1] - The impairment charge and increased reserves for bad loans were the primary contributors to this loss [1] Industry Context - The situation reflects broader challenges in the lending industry, particularly concerning sectors like auto parts manufacturing that may face financial instability [1]