secwatch.observer — SEC 8-K summary
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Issuer:     First Guaranty Bancshares, Inc. (FGBI)
CIK:        0001408534
Form:       8-K
Filed at:   2025-01-30T23:59:59+00:00
Accession:  0001408534-25-000006
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FGBI Q4 net income down 22.5% YoY; nonaccrual loans surge to $108.5M
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- Q4 net income $1.0M ($0.03 EPS) vs $1.3M ($0.06 EPS) in Q4 2023.
- Nonaccrual loans jumped to $108.5M at Dec 31, vs $25.2M a year earlier; largest 6 relationships comprise 76% of nonperformers.
- Provision for credit losses was $6.0M in Q4 vs $2.2M a year ago; full-year charge-offs $18.6M vs $6.0M.
- Net interest margin narrowed to 2.32% in Q4 from 2.53% a year ago; loan balances declined $54.9M YoY.
- Quarterly common dividend cut to $0.01 from $0.16 in Q4 2023; assets grew to $4.0B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1408534/000140853425000006/0001408534-25-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1408534/000140853425000006/fgbi-20250130.htm
  HTML page:      https://secwatch.observer/filing/0001408534-25-000006

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