Quarterly ResultJul 27, 2026, 04:37 PM
First Guaranty Q2 Net Income $3.4M; EPS $0.17; Reduces Problem Loans
AI Summary
First Guaranty Bancshares, Inc. reported a net income of $3.4 million for Q2 2026, a significant turnaround from a net loss of $(7.3) million in Q2 2025. Earnings per common share were $0.17, up from $(0.61) in the prior year. The company also announced a strategic agreement to sell its Texas operations, consisting of approximately $227 million in deposits and $93 million in loans, expected to close on July 31, 2026. Management highlighted progress in reducing non-performing and criticized assets, with nonaccrual loans decreasing by $19.0 million.
Key Highlights
- Q2 2026 net income was $3.4 million, a significant improvement from $(7.3) million net loss in Q2 2025.
- Q2 2026 earnings per common share were $0.17, up from $(0.61) in Q2 2025.
- Nonaccrual loans decreased by $19.0 million to $40.6 million at June 30, 2026.
- Special mention loan relationships declined by $142.9 million to $186.6 million at June 30, 2026.
- Agreed to sell Texas operations, including $227 million in deposits and $93 million in loans.
- Declared a cash dividend of $0.01 per common share for Q2 2026.
- Net interest margin for Q2 2026 increased to 2.37% from 2.34% in Q2 2025.
- Total loans decreased by $304.6 million (14.7%) to $1.8 billion from December 31, 2025.
Price Impact
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