Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 27, 2023

FIRST GUARANTY BANCSHARES, INC.

(Exact name of registrant as specified in its charter)




Louisiana	001-37621	26-0513559
(State or other jurisdiction	(Commission File Number)	(I.R.S. Employer
incorporation or organization)		Identification Number)

400 East Thomas Street
Hammond, Louisiana		70401
(Address of principal executive offices)		(Zip Code)


(985) 345-7685
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $1 par value

FGBI

The Nasdaq Stock Market LLC

Depositary Shares (each representing a 1/40th interest in a share of 6.75% Series A Fixed-Rate Non-Cumulative perpetual preferred stock)

FGBIP

The Nasdaq Stock Market LLC

Item 2.02. Results of Operations and Financial Condition

On October 27, 2023, First Guaranty Bancshares, Inc. issued a press release reporting its financial results at and for the three months and nine months ended September 30, 2023.

The Press Release is enclosed as Exhibit 99.1 to this report. The information in Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.

Item 9.01. Financial Statements and Exhibits.

Exhibit 99.1 Press Release dated October 27, 2023.

Forward Looking Statements

This letter contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact which represent our current judgement about possible future events. We believe these judgements are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of factors, many of which are described in our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or otherwise revise any forward-looking statements.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.




	FIRST GUARANTY BANCSHARES, INC.
	(Registrant)
Date: October 27, 2023
	By:	/s/Eric J. Dosch
		Eric J. Dosch
		Chief Financial Officer

INDEX TO EXHIBITS


Exhibit Number			Description
Exhibit 99.1			Press Release October 27, 2023 "First Guaranty Bancshares, Inc. Announces Third Quarter 2023 Results."

EXHIBIT 99.1

OCTOBER 27, 2023

NEWS FOR IMMEDIATE RELEASE

CONTACT: ERIC J. DOSCH, CFO

985.375.0308

First Guaranty Bancshares, Inc. Announces Third Quarter 2023 Results

Hammond, Louisiana, October 27, 2023 – First Guaranty Bancshares, Inc. ("First Guaranty") (NASDAQ: FGBI), the holding company for First Guaranty Bank, announced its unaudited financial results for the quarter ending September 30, 2023.

We are making progress. In a time in which all banks have been battling the squeeze between loan interest rates and the rates to be paid for deposits, it appears that, in the second half of the third quarter, we passed the bottom and began to climb upward. Our loan portfolio before unearned income continued to grow as it grew to $2,707,669,000 as of September 30, 2023 compared to $2,599,099,000 as of June 30, 3023 and $2,526,720,000 as of December 31, 2022. Total interest income for the quarter ending September 30, 2023 was $47,627,000 compared to $43,781,000 for the quarter ending June 30, 2023 and $41,287,000 for the quarter ending March 31, 2023 and $38,307,000 for the quarter ending December 31, 2022. Our total non-interest expense for the quarter ending September 30, 2023 was $19,996,000 compared to $19,735,000 for quarter ending June 30, 2023 and $20,166,000 for quarter ending March 31, 2023.

We are making progress. This is not to say that the struggles are over. Our entire staff has reacted positively and strongly to reduce expenses. Everyone involved in Loan Production, Credit, and Loan Processing has been and continues to work very diligently to obtain new loans and get them expedited, approved, and earning.

We appreciate the patience and understanding of our shareholders. We are making progress. We will prevail and continue to build First Guaranty into a profitable investment with a fortress balance sheet.

Sincerely,

Alton B. Lewis

President and CEO

First Guaranty, Bancshares, Inc.

About First Guaranty

First Guaranty Bancshares, Inc. is the holding company for First Guaranty Bank, a Louisiana state-chartered bank. Founded in 1934, First Guaranty Bank offers a wide range of financial services and focuses on building client relationships and providing exceptional customer service. First Guaranty Bank currently operates thirty-six locations throughout Louisiana, Texas, Kentucky and West Virginia. First Guaranty’s common stock trades on the NASDAQ under the symbol FGBI. For more information, visit www.fgb.net.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact which represent our current judgement about possible future events. We believe these judgements are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of factors, many of which are described in our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or otherwise revise any forward-looking statements.


FIRST GUARANTY BANCSHARES, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS (unaudited)

(in thousands, except share data)	September 30, 2023		December 31, 2022
Assets
Cash and cash equivalents:
Cash and due from banks	$	200,825	$	82,796
Federal funds sold	450		423
Cash and cash equivalents	201,275		83,219

Investment securities:
Available for sale, at fair value	79,857		131,458
Held to maturity, at cost and net of allowance for credit losses of $80 and $0 (estimated fair value of $234,771 and $242,560 respectively)	320,624		320,068
Investment securities	400,481		451,526

Federal Home Loan Bank stock, at cost	13,241		6,528
Loans held for sale	—		—

Loans, net of unearned income	2,699,393		2,519,077
Less: allowance for credit losses	31,936		23,518
Net loans	2,667,457		2,495,559

Premises and equipment, net	64,006		58,206
Goodwill	12,900		12,900
Intangible assets, net	4,366		4,979
Other real estate, net	1,135		113
Accrued interest receivable	16,728		13,002
Other assets	36,645		25,315
Total Assets	$	3,418,234	$	3,151,347

Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing demand	$	458,392	$	524,415
Interest-bearing demand	1,435,555		1,460,259
Savings	214,371		205,760
Time	706,691		533,358
Total deposits	2,815,009		2,723,792

Short-term advances from Federal Home Loan Bank	125,000		120,000
Short-term borrowings	20,000		20,000
Repurchase agreements	7,659		6,442
Accrued interest payable	10,780		4,289
Long-term advances from Federal Home Loan Bank	155,000		—
Senior long-term debt	20,306		21,927
Junior subordinated debentures	15,000		15,000
Other liabilities	10,658		4,906
Total Liabilities	3,179,412		2,916,356

Shareholders' Equity
Preferred stock, Series A - $1,000 par value - 100,000 shares authorized
Non-cumulative perpetual; 34,500 issued and outstanding	33,058		33,058
Common stock, $1 par value - 100,600,000 shares authorized; 11,431,083 and 10,716,796 shares issued and outstanding	11,431		10,717
Surplus	139,379		130,093
Retained earnings	69,247		76,351
Accumulated other comprehensive (loss) income	(14,293)		(15,228)
Total Shareholders' Equity	238,822		234,991
Total Liabilities and Shareholders' Equity	$	3,418,234	$	3,151,347
See Notes to Consolidated Financial Statements


FIRST GUARANTY BANCSHARES, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF INCOME (unaudited)
	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except share data)	2023		2022		2023		2022
Interest Income:
Loans (including fees)	$	43,407	$	32,386	$	121,846	$	90,423
Deposits with other banks	1,897		561		3,719		924
Securities (including FHLB stock)	2,323		2,303		7,130		6,922
Total Interest Income	47,627		35,250		132,695		98,269

Interest Expense:
Demand deposits	16,102		6,243		44,187		11,403
Savings deposits	1,001		267		2,418		429
Time deposits	6,504		2,533		15,304		7,828
Borrowings	3,575		758		7,127		1,867
Total Interest Expense	27,182		9,801		69,036		21,527

Net Interest Income	20,445		25,449		63,659		76,742
Less: Provision for credit losses	627		1,509		1,489		2,898
Net Interest Income after Provision for Credit Losses	19,818		23,940		62,170		73,844

Noninterest Income:
Service charges, commissions and fees	858		814		2,461		2,364
ATM and debit card fees	796		864		2,449		2,591
Net gains (losses) on securities	—		—		—		(17)
Net gains on sale of loans	—		1,624		12		1,713
Other	835		716		3,083		1,856
Total Noninterest Income	2,489		4,018		8,005		8,507

Total Business Revenue, Net of Provision for Credit Losses	22,307		27,958		70,175		82,351

Noninterest Expense:
Salaries and employee benefits	10,429		9,181		30,365		27,246
Occupancy and equipment expense	2,121		2,295		6,542		6,748
Other	7,446		6,312		22,990		18,364
Total Noninterest Expense	19,996		17,788		59,897		52,358

Income Before Income Taxes	2,311		10,170		10,278		29,993
Less: Provision for income taxes	539		2,117		2,362		6,230
Net Income	1,772		8,053		7,916		23,763
Less: Preferred stock dividends	582		582		1,747		1,747
Net Income Available to Common Shareholders	$	1,190	$	7,471	$	6,169	$	22,016

Per Common Share:
Earnings	$	0.10	$	0.70	$	0.56	$	2.05
Cash dividends paid	$	0.16	$	0.16	$	0.48	$	0.48

Weighted Average Common Shares Outstanding	11,431,083		10,716,796		11,022,919		10,716,796
See Notes to Consolidated Financial Statements


FIRST GUARANTY BANCSHARES, INC. AND SUBSIDIARY
CONSOLIDATED AVERAGE BALANCE SHEETS (unaudited)

	Three Months Ended September 30, 2023						Three Months Ended September 30, 2022
(in thousands except for %)	Average Balance		Interest		Yield/Rate (5)		Average Balance		Interest		Yield/Rate (5)
Assets
Interest-earning assets:
Interest-earning deposits with banks	$	145,235	$	1,897	5.18	%	$	109,333	$	561	2.04	%
Securities (including FHLB stock)	412,169		2,323		2.24	%	460,370		2,303		1.98	%
Federal funds sold	331		—		—	%	272		—		—	%
Loans held for sale	—		—		—	%	—		—		—	%
Loans, net of unearned income (6)	2,632,564		43,407		6.54	%	2,344,868		32,386		5.48	%
Total interest-earning assets	3,190,299		$	47,627	5.92	%	2,914,843		$	35,250	4.80	%

Noninterest-earning assets:
Cash and due from banks	18,418						17,611
Premises and equipment, net	62,348						58,126
Other assets	27,420						27,430
Total Assets	$	3,298,485					$	3,018,010

Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Demand deposits	$	1,429,402	$	16,102	4.47	%	$	1,397,720	$	6,243	1.77	%
Savings deposits	216,089		1,001		1.84	%	220,567		267		0.48	%
Time deposits	678,521		6,504		3.80	%	532,253		2,533		1.89	%
Borrowings	251,317		3,575		5.64	%	74,078		758		4.06	%
Total interest-bearing liabilities	2,575,329		$	27,182	4.19	%	2,224,618		$	9,801	1.75	%

Noninterest-bearing liabilities:
Demand deposits	461,489						554,218
Other	20,660						10,448
Total Liabilities	3,057,478						2,789,284

Shareholders' equity	241,007						228,726
Total Liabilities and Shareholders' Equity	$	3,298,485					$	3,018,010
Net interest income			$	20,445					$	25,449

Net interest rate spread (1)					1.73	%					3.05	%
Net interest-earning assets (2)	$	614,970					$	690,225
Net interest margin (3), (4)					2.54	%					3.46	%

Average interest-earning assets to interest-bearing liabilities					123.88	%					131.03	%

(1)Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.

(2)Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities.

(3)Net interest margin represents net interest income divided by average total interest-earning assets.

(4)The tax adjusted net interest margin was 2.55% and 3.47% for the above periods ended September 30, 2023 and 2022 respectively. A 21% tax rate was used to calculate the effect on securities income from tax exempt securities for the above periods ended September 30, 2023 and 2022 respectively.

(5)Annualized.

(6)Includes loan fees of $1.5 million and $1.8 million for the three months ended September 30, 2023 and 2022 respectively. PPP loan fee income of $0 and $0.2 million was recognized for the three months ended September 30, 2023 and 2022 respectively.


FIRST GUARANTY BANCSHARES, INC. AND SUBSIDIARY
CONSOLIDATED AVERAGE BALANCE SHEETS (unaudited)

	Nine Months Ended September 30, 2023						Nine Months Ended September 30, 2022
(in thousands except for %)	Average Balance		Interest		Yield/Rate (5)		Average Balance		Interest		Yield/Rate (5)
Assets
Interest-earning assets:
Interest-earning deposits with banks	$	102,976	$	3,719	4.83	%	$	158,206	$	924	0.78	%
Securities (including FHLB stock)	415,442		7,130		2.29	%	450,100		6,922		2.06	%
Federal funds sold	391		—		—	%	222		—		—	%
Loans held for sale	—		—		—	%	—		—		—	%
Loans, net of unearned income (6)	2,576,793		121,846		6.32	%	2,248,445		90,423		5.38	%
Total interest-earning assets	3,095,602		$	132,695	5.73	%	2,856,973		$	98,269	4.60	%

Noninterest-earning assets:
Cash and due from banks	18,706						18,472
Premises and equipment, net	60,157						58,251
Other assets	27,707						28,461
Total Assets	$	3,202,172					$	2,962,157

Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Demand deposits	$	1,458,405	$	44,187	4.05	%	$	1,350,190	$	11,403	1.13	%
Savings deposits	211,515		2,418		1.53	%	212,013		429		0.27	%
Time deposits	624,190		15,304		3.28	%	552,340		7,828		1.89	%
Borrowings	165,508		7,127		5.76	%	59,263		1,867		4.21	%
Total interest-bearing liabilities	2,459,618		$	69,036	3.75	%	2,173,806		$	21,527	1.32	%

Noninterest-bearing liabilities:
Demand deposits	489,154						554,388
Other	16,954						8,424
Total Liabilities	2,965,726						2,736,618

Shareholders' equity	236,446						225,539
Total Liabilities and Shareholders' Equity	$	3,202,172					$	2,962,157
Net interest income			$	63,659					$	76,742

Net interest rate spread (1)					1.98	%					3.28	%
Net interest-earning assets (2)	$	635,984					$	683,167
Net interest margin (3), (4)					2.75	%					3.59	%

Average interest-earning assets to interest-bearing liabilities					125.86	%					131.43	%

(1)Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.

(2)Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities.

(3)Net interest margin represents net interest income divided by average total interest-earning assets.

(4)The tax adjusted net interest margin was 2.75% and 3.60% for the above periods ended September 30, 2023 and 2022 respectively. A 21% tax rate was used to calculate the effect on securities income from tax exempt securities for the above periods ended September 30, 2023 and 2022 respectively.

(5)Annualized.

(6)Includes loan fees of $4.3 million and $6.3 million for the nine months ended September 30, 2023 and 2022 respectively. PPP loan fee income of $16,000 and $1.3 million was recognized for the nine months ended September 30, 2023 and 2022 respectively.

The following table summarizes the components of First Guaranty's loan portfolio as of September 30, 2023, June 30, 2023, March 31, 2023, and December 31, 2022:


	September 30, 2023				June 30, 2023				March 31, 2023				December 31, 2022
(in thousands except for %)	Balance		As % of Category		Balance		As % of Category		Balance		As % of Category		Balance		As % of Category
Real Estate:
Construction & land development	$	342,246	12.6	%	$	301,259	11.6	%	$	289,486	11.2	%	$	233,091	9.2	%
Farmland	31,361		1.1	%	29,398		1.1	%	23,065		0.9	%	24,823		1.0	%
1- 4 Family	419,045		15.5	%	406,148		15.6	%	385,984		14.9	%	366,330		14.5	%
Multifamily	121,206		4.5	%	121,342		4.7	%	120,620		4.7	%	119,785		4.7	%
Non-farm non-residential	1,052,750		38.9	%	1,025,073		39.5	%	1,027,199		39.8	%	992,929		39.3	%
Total Real Estate	1,966,608		72.6	%	1,883,220		72.5	%	1,846,354		71.5	%	1,736,958		68.7	%
Non-Real Estate:
Agricultural	47,949		1.8	%	47,924		1.8	%	40,351		1.6	%	39,045		1.5	%
Commercial and industrial(1)	354,836		13.1	%	338,023		13.0	%	344,332		13.3	%	385,279		15.3	%
Commercial leases	292,208		10.8	%	282,161		10.9	%	302,450		11.7	%	317,574		12.6	%
Consumer and other	46,068		1.7	%	47,771		1.8	%	49,157		1.9	%	47,864		1.9	%
Total Non-Real Estate	741,061		27.4	%	715,879		27.5	%	736,290		28.5	%	789,762		31.3	%
Total loans before unearned income	2,707,669		100.0	%	2,599,099		100.0	%	2,582,644		100.0	%	2,526,720		100.0	%
Unearned income	(8,276)				(8,433)				(8,402)				(7,643)
Total loans net of unearned income	$	2,699,393			$	2,590,666			$	2,574,242			$	2,519,077

(1) Includes PPP loans fully guaranteed by the SBA of $3.1 million, $5.4 million, $5.7 million, and $5.9 million at September 30, 2023, June 30, 2023, March 31, 2023, and December 31, 2022, , respectively.

The table below sets forth the amounts and categories of our nonperforming assets at the dates indicated.


(in thousands)	September 30, 2023			June 30, 2023			March 31, 2023			December 31, 2022
Nonaccrual loans:
Real Estate:
Construction and land development	$	664		$	518		$	221		$	225
Farmland	874			867			677			290
1- 4 family	6,827			6,320			6,209			3,826
Multifamily	537			537			—			—
Non-farm non-residential	8,403			8,285			2,675			3,746
Total Real Estate	17,305			16,527			9,782			8,087
Non-Real Estate:
Agricultural	1,378			1,375			1,469			1,622
Commercial and industrial	2,827			2,167			1,026			819
Commercial leases	1,799			1,818			1,799			1,799
Consumer and other	2,246			2,016			1,593			1,239
Total Non-Real Estate	8,250			7,376			5,887			5,479
Total nonaccrual loans	25,555			23,903			15,669			13,566

Loans 90 days and greater delinquent & accruing:
Real Estate:
Construction and land development	182			182			190			427
Farmland	2,693			—			—			—
1- 4 family	593			295			—			332
Multifamily	—			—			—			157
Non-farm non-residential	956			—			1,641			103
Total Real Estate	4,424			477			1,831			1,019
Non-Real Estate:
Agricultural	61			61			—			—
Commercial and industrial	3,659			—			6,244			123
Commercial leases	—			—			—			—
Consumer and other	—			—			—			—
Total Non-Real Estate	3,720			61			6,244			123
Total loans 90 days and greater delinquent & accruing	8,144			538			8,075			1,142

Total non-performing loans	33,699			24,441			23,744			14,708

Real Estate Owned:
Real Estate Loans:
Construction and land development	251			251			—			—
Farmland	—			—			—			—
1- 4 family	194			248			113			113
Multifamily	—			—			—			—
Non-farm non-residential	690			774			774			—
Total Real Estate	1,135			1,273			887			113
Non-Real Estate Loans:
Agricultural	—			—			—			—
Commercial and industrial	—			—			—			—
Commercial leases	—			—			—			—
Consumer and other	—			—			—			—
Total Non-Real Estate	—			—			—			—
Total Real Estate Owned	1,135			1,273			887			113

Total non-performing assets	$	34,834		$	25,714		$	24,631		$	14,821

Non-performing assets to total loans	1.29		%	0.99		%	0.96		%	0.59		%
Non-performing assets to total assets	1.02		%	0.79		%	0.76		%	0.47		%
Non-performing loans to total loans	1.25		%	0.94		%	0.92		%	0.58		%
Nonaccrual loans to total loans	0.95		%	0.92		%	0.61		%	0.54		%
Allowance for credit losses to nonaccrual loans	124.97		%	133.29		%	200.83		%	173.36		%
Net loan charge-offs to average loans	0.05		%	0.04		%	0.08		%	0.18		%

Non-GAAP Financial Measures

Our accounting and reporting policies conform to accounting principles generally accepted in the United States, or GAAP, and the prevailing practices in the banking industry. However, we also evaluate our performance based on certain additional metrics. Tangible book value per share and the ratio of tangible equity to tangible assets are not financial measures recognized under GAAP and, therefore, are considered non-GAAP financial measures.

Our management, banking regulators, many financial analysts and other investors use these non-GAAP financial measures to compare the capital adequacy of banking organizations with significant amounts of preferred equity and/or goodwill or other intangible assets, which typically stem from the use of the purchase accounting method of accounting for mergers and acquisitions. Tangible equity, tangible assets, tangible book value per share or related measures should not be considered in isolation or as a substitute for total shareholders' equity, total assets, book value per share or any other measure calculated in accordance with GAAP. Moreover, the manner in which we calculate tangible equity, tangible assets, tangible book value per share and any other related measures may differ from that of other companies reporting measures with similar names.

The following table reconciles, as of the dates set forth below, shareholders' equity (on a GAAP basis) to tangible equity and total assets (on a GAAP basis) to tangible assets and calculates our tangible book value per share.


	At September 30,			At December 31,
(in thousands except for share data and %)	2023			2022			2021			2020			2019
Tangible Common Equity
Total shareholders' equity	$	238,822		$	234,991		$	223,889		$	178,591		$	166,035
Adjustments:
Preferred	33,058			33,058			33,058			—			—
Goodwill	12,900			12,900			12,900			12,900			12,942
Acquisition intangibles	3,832			4,355			5,051			5,815			6,527
Tangible common equity	$	189,032		$	184,678		$	172,880		$	159,876		$	146,566
Common shares outstanding	11,431,083			10,716,796			10,716,796			10,716,796			10,716,796
Book value per common share	$	18.00		$	18.84		$	17.81		$	16.66		$	15.49
Tangible book value per common share	$	16.54		$	17.23		$	16.13		$	14.92		$	13.68
Tangible Assets
Total Assets	$	3,418,234		$	3,151,347		$	2,878,120		$	2,473,078		$	2,117,216
Adjustments:
Goodwill	12,900			12,900			12,900			12,900			12,942
Acquisition intangibles	3,832			4,355			5,051			5,815			6,527
Tangible Assets	$	3,401,502		$	3,134,092		$	2,860,169		$	2,454,363		$	2,097,747
Tangible common equity to tangible assets	5.56		%	5.89		%	6.04		%	6.51		%	6.99		%

Cover	Oct. 27, 2023
Document Information [Line Items]
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0001408534
Document Type	8-K
Document Period End Date	Oct. 27, 2023
Entity Registrant Name	FIRST GUARANTY BANCSHARES, INC.
Entity Incorporation, State or Country Code	LA
Entity File Number	001-37621
Entity Tax Identification Number	26-0513559
Entity Address, Address Line One	400 East Thomas Street
Entity Address, City or Town	Hammond
Entity Address, State or Province	LA
Entity Address, Postal Zip Code	70401
City Area Code	345-7685
City Area Code	(985)
Written Communications	false
Soliciting Material	false
Amendment Flag	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $1 par value
Trading Symbol	FGBI
Security Exchange Name	NASDAQ
Noncumulative Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares (each representing a 1/40th interest in a share of 6.75% Series A Fixed-Rate Non-Cumulative perpetual preferred stock)
Trading Symbol	FGBIP
Security Exchange Name	NASDAQ