First Guaranty Bancshares Q1 2024 net income $2.31M, EPS $0.14, down 48% from Q1 2023

First Guaranty Bancshares, Inc.

Net income $2.31M vs $3.47M in Q1 2023; diluted EPS $0.14 vs $0.27.
Net interest margin compressed to 2.58% from 2.99% a year ago.
Provision for credit losses jumped to $2.30M from $0.31M, reflecting credit deterioration.
Nonperforming assets rose to $44.5M (1.25% of assets) from $41.7M at Dec 31, 2023.
Total deposits increased slightly to $3.064B, but noninterest-bearing deposits declined.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

First Guaranty Bancshares, Inc. reported the three months ended March 31, 2024 results: net income $2.3 million, EPS $0.14 per common share.

Period: the three months ended March 31, 2024
Net income: $2.3 million
EPS: $0.14 per common share
Result: reported results

Exact text from the filing

First Guaranty Bancshares, Inc. issued a press release reporting its financial results at and for the three months ended March 31, 2024.

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Source: SEC EDGAR

accession 0001408534-24-000042

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