secwatch.observer — SEC 8-K summary
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Issuer:     First Guaranty Bancshares, Inc. (FGBI)
CIK:        0001408534
Form:       8-K
Filed at:   2024-04-29T23:59:59+00:00
Accession:  0001408534-24-000042
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1408534/000140853424000042/0001408534-24-000042-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1408534/000140853424000042/fgbi-20240429.htm
  HTML page:      https://secwatch.observer/filing/0001408534-24-000042

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer