SEC 8-K filings with transcript text
Oct 27, 2026
2 fgbi-ex991earningspressrel.htm
Document
985.375.0308
First Guaranty Bancshares, Inc. Announces Third Quarter 2026 Financial Results
Hammond, Louisiana, October 27, 2026 – First Guaranty Bancshares, Inc. ("First Guaranty") (NASDAQ: FGBI), the holding company for First Guaranty Bank, announced its unaudited financial results for the third quarter and nine months ending September 30, 2026.
Financial Highlights for the third quarter and nine months ended September 30, 2026, are as follows:
•Net income (loss) for the three months ended September 30, 2026 and 2025 was $12.0 million and $(45.0) million, respectively. Net income (loss) for the nine months ended September 30, 2026 and 2025 was $18.1 million and $(58.5) million, respectively, an increase of $76.6 million.
•Third quarter 2026 results were impacted by the sale of First Guaranty Bank's Texas operations and the Bank's strategic changes undertaken in response to the issuance of a Consent Order by the FDIC and OFI (the "Consent Order"), effective August 7, 2026, as previously discussed in the Current Report on Form 8-K dated August 7, 2026.
•On July 31, 2026, First Guaranty Bank completed the sale of its Texas operations to Armstrong Bank, Muskogee, Oklahoma. The transaction included five branches and approximately $234 million of deposits, $88 million of loans, and certain other related assets.
•Key metrics of the Texas sale included the following items (all totals are pre-tax):
◦Deposit premium of 7.65% or $17.9 million.
◦Gain on sale of related real estate of $2.1 million.
◦Legal and professional fees including investment banking fees of $1.9 million.
◦Write off of remaining core deposit acquisition intangibles from 2019 acquisition that totaled $0.7 million.
◦One-time employee severance expenses that totaled $0.1 million.
◦Loans were sold at par with no discount. $0.3 million of loan fees were accreted into income due to the sale.
◦First Guaranty estimates that net contribution of the Texas sale to pre-tax income was approximately $17.6 million.
•First Guaranty’s strategy to comply with the Consent Order includes reducing excess leverage to meet the 9.0% Tier 1 Leverage Ratio requirement and reducing classified and non-performing assets. Notable actions taken or completed during the third quarter 2026 include:
◦Early payoff of $135.0 million in FHLB advances. A $0.5 million pre-payment penalty was incurred.
◦The Bank utilized the One-Way sell feature of reciprocal deposits that reduced surplus cash and deposits by $291.4 million as of September 30, 2026.
◦The Bank redeemed brokered deposits totaling $130.6 million with surplus cash.
◦First Guaranty signed a sales agreement to sell its largest non-performing asset. This OREO property totals $22.6 million. The property was written down by $0.7 million in the third quarter of 2026. First Guaranty anticipates that this transaction is expected to close in the fourth quarter of 2026. First Guaranty incurred $0.3 million in operating expenses related to this property in the third quarter of 2026.
◦First Guaranty wrote off an additional $0.8 million related to bank owned properties that were previously used for branch locations or owned for future branch development.
◦First Guaranty signed a letter of intent to sell its second largest non-performing asset. This loan totals $11.4 million. First Guaranty anticipates that this transaction is expected to close in the fourth quarter of 2026.
◦First Guaranty reduced substandard assets by $31.2 million in the third quarter of 2026.
•Total assets decreased $925.8 million and were $3.2 billion at September 30, 2026 compared to $4.1 billion at December 31, 2025. Total loans at September 30, 2026 were $1.6 billion, a decrease of $488.8 million, or 23.6%, compared with December 31, 2025. Total deposits were $2.9 billion at September 30, 2026, a decrease of $777.9 million, or 21.4%, compared with December 31, 2025. Retained earnings were $29.9 million at September 30, 2026, an increase of $15.9 million compared to $14.1 million at December 31, 2025. Shareholders' equity was $218.9 million and $226.2 million at September 30, 2026 and December 31, 2025, respectively.
•Earnings (loss) per common share were $0.69 and $(3.01) for the three months ended September 30, 2026 and 2025, respectively. Total weighted average shares outstanding were 16,540,173 and 15,122,702 for the three months ended September 30, 2026 and 2025, respectively. Earnings (loss) per common share were $1.01 and $(4.45) for the nine months ended September 30, 2026 and 2025, respectively. Total weighted average shares outstanding were 16,223,484 and 13,523,009 for the nine months ended September 30, 2026 and 2025, respectively.
•The allowance for credit losses was 2.30% of total loans at September 30, 2026 compared to 1.97% at December 31, 2025.
•Net interest inc
This page provides First Guaranty Bancshares Inc. (FGBI) earnings call transcripts from SEC 8-K filings along with AI-powered predictions for post-earnings price movements. Our machine learning models analyze historical earnings data, pre-earnings price patterns, volume changes, and volatility to predict 1-day, 5-day, and 20-day returns after each earnings release.
Earnings transcripts are sourced directly from SEC EDGAR filings. Predictions are generated using gradient boosting models trained on FGBI's historical earnings reactions. All predicted returns are shown as percentages, and predicted prices are calculated from the closing price at the time of prediction. Past performance does not guarantee future results.