---
schema_version: "secwatch.filing_event.v1"
accession: "0001408534-24-000042"
form_type: "8-K"
ticker: "FGBI"
cik: "0001408534"
company_name: "First Guaranty Bancshares, Inc."
filed_at: "2024-04-29T23:59:59+00:00"
generated_at: "2026-06-03T05:28:25.121984+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001408534-24-000042
- form_type: 8-K
- ticker: FGBI
- cik: 0001408534
- company_name: First Guaranty Bancshares, Inc.
- filed_at: 2024-04-29T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1408534/000140853424000042/0001408534-24-000042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1408534/000140853424000042/fgbi-20240429.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001408534-24-000042
- JSON: https://secwatch.observer/filing/0001408534-24-000042.json
- Plain text: https://secwatch.observer/filing/0001408534-24-000042.txt

## Key facts
- Earnings Releases
  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
  source text: First Guaranty Bancshares, Inc. issued a press release reporting its financial results at and for the three months ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1408534/000140853424000042/0001408534-24-000042-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.