Quarterly ResultMay 7, 2026, 04:39 PM
First Guaranty Bancshares Q1 Net Income $2.7M; EPS $0.14
AI Summary
First Guaranty Bancshares, Inc. reported a net income of $2.7 million for the first quarter of 2026, a significant improvement from a loss in the prior year. The company achieved earnings of $0.14 per common share and reduced non-performing assets by $12.0 million. Management emphasized progress in strengthening earnings, improving capital ratios, and reducing balance sheet risk through strategic loan and deposit reductions.
Key Highlights
- Net income for Q1 2026 was $2.7 million, up from a $6.166 million loss in Q1 2025.
- Earnings per common share were $0.14 for Q1 2026, compared to a loss of $0.54 in Q1 2025.
- Non-performing assets decreased by $12.0 million to $83.5 million at March 31, 2026.
- Bank risk weighted capital ratio improved by 123 bps to 14.71% at March 31, 2026.
- Provision for credit losses significantly decreased to $2.6 million in Q1 2026 from $14.5 million in Q1 2025.
- Total loans decreased by 7.0% to $1.9 billion, and total deposits decreased by 3.5% to $3.5 billion, as part of a risk reduction strategy.
- Cash dividends paid were $0.01 per common share.
Price Impact
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