secwatch.observer — SEC 8-K summary
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Issuer:     First Guaranty Bancshares, Inc. (FGBI)
CIK:        0001408534
Form:       8-K
Filed at:   2025-05-12T23:59:59+00:00
Accession:  0001408534-25-000038
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Guaranty Bancshares reports Q1 net loss of $6.7M; credit provision surges, dividend slashed
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- Net loss to common shareholders of $6.7M ($0.54 per share) vs. $1.7M profit ($0.14) in Q1 2024.
- Provision for credit losses surged to $14.5M from $2.3M; $70M loan sale added $5.8M loss to allowance.
- Net interest income rose to $22.2M; business revenue after provision fell to $10.0M from $21.9M.
- Non-interest expense cut to $18.0M; FTE employees reduced to 382 from 495 in June 2024.
- Total risk-based capital improved to 12.74%; dividend slashed to $0.01 per share from $0.16.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1408534/000140853425000038/0001408534-25-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1408534/000140853425000038/fgbi-20250512.htm
  HTML page:      https://secwatch.observer/filing/0001408534-25-000038

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