secwatch.observer — SEC 8-K summary
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Issuer:     First Guaranty Bancshares, Inc. (FGBI)
CIK:        0001408534
Form:       8-K
Filed at:   2024-10-30T23:59:59+00:00
Accession:  0001408534-24-000086
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Guaranty Bancshares Q3 net income up 8.7% to $1.9M; provision and nonaccruals surge
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- Q3 EPS $0.11 vs $0.10 YoY; net income $1.9M vs $1.8M. Nine-month EPS $0.78 vs $0.56, net income +44.5% to $11.4M.
- Provision for credit losses jumped to $4.9M in Q3 (vs $0.6M); YTD charge-offs $13.7M vs $2.0M. ACL to loans 1.20% (Dec 2023: 1.13%).
- Nonaccrual loans rose to $65.8M from $25.2M at Dec 2023, driven by a $37.0M commercial real estate relationship with a $4.1M specific reserve.
- Total assets up $371M to $3.9B; deposits increased 14% to $3.4B. Loan growth modest at 0.8%.
- Board declared $0.08 per share dividend; paid 125 consecutive quarterly dividends. Sale-leaseback gain of $13.2M pre-tax.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1408534/000140853424000086/0001408534-24-000086-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1408534/000140853424000086/fgbi-20241030.htm
  HTML page:      https://secwatch.observer/filing/0001408534-24-000086

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