First Guaranty Bancshares | 10-Q: FY2025 Q3 Revenue: USD 55.36 M

Revenue: As of FY2025 Q3, the actual value is USD 55.36 M.

EPS: As of FY2025 Q3, the actual value is USD -3.01.

EBIT: As of FY2025 Q3, the actual value is USD -76.25 M.

Interest Income: $53.5 million for the three months ended September 30, 2025, compared to $57.4 million for the same period in 2024. For the nine months ended September 30, 2025, interest income was $162.3 million, compared to $164.0 million for the same period in 2024.

Net Income: Net loss of $45.0 million for the three months ended September 30, 2025, compared to net income of $1.9 million for the same period in 2024. Net loss of $58.5 million for the nine months ended September 30, 2025, compared to net income of $11.4 million for the same period in 2024.
Provision for Credit Losses: $47.9 million for the three months ended September 30, 2025, compared to $4.9 million for the same period in 2024. For the nine months ended September 30, 2025, the provision was $79.1 million, compared to $14.0 million for the same period in 2024.
Charge-offs: $21.3 million during the three months ended September 30, 2025, compared to $2.6 million during the same period in 2024. For the nine months ended September 30, 2025, charge-offs were $29.4 million, compared to $13.7 million for the same period in 2024.
Noninterest Expense: $30.2 million for the three months ended September 30, 2025 (including $12.9 million of goodwill impairment), compared to $19.7 million for the same period in 2024.

Operating Cash Flow: Net cash provided by operating activities was $16.5 million for the nine months ended September 30, 2025, compared to $14.7 million for the same period in 2024.
Investing Cash Flow: Net cash provided by investing activities was $292.3 million for the nine months ended September 30, 2025, compared to net cash used in investing activities of $275.4 million for the same period in 2024.
Financing Cash Flow: Net cash used in financing activities was $118.9 million for the nine months ended September 30, 2025, compared to net cash provided by financing activities of $341.8 million for the same period in 2024.

Nonaccrual Loans: $114.3 million at September 30, 2025, compared to $108.5 million at December 31, 2024.
Other Real Estate Owned: $12.1 million at September 30, 2025, compared to $0.3 million at December 31, 2024.

Core Business Focus: First Guaranty Bancshares, Inc. plans to continue reducing risk in its balance sheet, including risk associated with the loan portfolio. The company has reduced loan originations, charged-off loan balances, and conducted select loan sales, contributing to a decline in loan balances. The company also plans to sell existing bank-owned properties previously used as either operating branches or future branch development.
Non-Core Business: The company recognized a one-time non-cash impairment charge to goodwill of $12.9 million due to its stock price trading below book value and the recent increase in credit provisions. The impairment charge did not impact regulatory capital ratios.

Strategic Plans: The company has a $52.0 million credit exposure associated with commercial lease financing to entities related to an auto parts manufacturer that declared Chapter 11 bankruptcy during the third quarter. A specific reserve of $17.2 million has been established for the nonaccrual credit, and a specific reserve of $22.6 million has been established for the three lease credits that remain on accrual status. Further analysis will be performed as bankruptcy proceedings progress in the fourth quarter of 2025.