First Guaranty (NASDAQ: FGBI) returns to profit with Q1 2026 earnings
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
First Guaranty Bancshares, Inc. reported a return to profitability in the first quarter of 2026, with net income of $2.7 million and earnings available to common shareholders of $2.2 million, or $0.14 per share, compared with a loss a year earlier.
Total assets were $4.0 billion, with loans of $1.9 billion and deposits of $3.5 billion as the bank deliberately reduced loans and higher-cost deposits to lower balance sheet risk. Nonperforming assets declined to $83.5 million, down $12.0 million since year-end 2025, while the bank risk weighted capital ratio rose to 14.71%.
The provision for credit losses was $2.6 million and loan charge-offs were $5.4 million in the quarter. Return on average assets was 0.27% and return on average common equity was 4.52%, and the company continued its long streak of quarterly dividends.
Positive
- Returned to profitability: Q1 2026 net income of $2.7 million and $0.14 EPS, versus a prior-year loss, supported by lower credit-loss provision and cost control.
- Improved risk profile and capital: Nonperforming assets fell by $12.0 million to $83.5 million and the bank risk weighted capital ratio increased to 14.71%, while loans and higher-cost deposits were reduced.
Negative
- None.
Insights
First Guaranty returns to profit as it derisks its balance sheet.
First Guaranty Bancshares moved from a prior-year loss to Q1 2026 net income of $2.7M, or $0.14 per common share. Net interest income softened slightly, but a much lower credit-loss provision of $2.6M versus a high prior level supported the earnings swing.
Management emphasized reducing balance sheet risk. Total loans fell to $1.9B and deposits to $3.5B, while nonperforming assets declined $12.0M to $83.5M. The bank risk weighted capital ratio improved to 14.71%, indicating stronger loss-absorption capacity.
Profitability ratios are modest, with return on average assets at 0.27% and return on average common equity at 4.52%. Future company updates may clarify whether credit quality improvements and capital strengthening can sustain or enhance these earnings levels over subsequent quarters.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Total assets: $3.96B
Net income: $2.7M
Earnings per common share: $0.14
+5 more
8 metrics
Total assets
$3.96B
March 31, 2026 consolidated balance sheet
Net income
$2.7M
Three months ended March 31, 2026
Earnings per common share
$0.14
Q1 2026, income available to common shareholders
Total loans
$1.9B
Loans outstanding at March 31, 2026
Total deposits
$3.5B
Deposits at March 31, 2026 after deliberate reduction
Nonperforming assets
$83.5M
March 31, 2026, down $12.0M from December 31, 2025
Bank risk weighted capital ratio
14.71%
At March 31, 2026, up from 13.48% at year-end 2025
Provision for credit losses
$2.6M
Q1 2026 provision on loans and securities
Key Terms
nonperforming assets, allowance for credit losses, bank risk weighted capital ratio, junior subordinated debentures, +2 more
6 terms
nonperforming assets financial
"We reduced nonperforming assets by $12.0 million from $95.5 million..."
Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.
allowance for credit losses financial
"Less: allowance for credit losses 38,488 43,022..."
Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.
bank risk weighted capital ratio financial
"We improved our bank risk weighted capital ratio 123 bps to 14.71%..."
junior subordinated debentures financial
"Junior subordinated debentures 29,820 44,760..."
A junior subordinated debenture is a long-term loan a company issues to investors that sits low in the repayment order: holders get paid after most other creditors but usually before shareholders. Because it offers higher interest to compensate for greater risk, it can boost income for investors but also carries bigger chances of loss if the issuer faces financial trouble. Think of it as standing near the back of a line for repayment — you get a bigger reward but a smaller guarantee.
return on average assets financial
"Return on Average Assets 0.27% -0.63%..."
Return on average assets (ROAA) measures how efficiently a company turns its assets into profit by comparing profit after expenses to the average value of its assets over a period (usually the average of beginning and ending assets). It matters to investors because it shows how well management uses the company’s resources to generate returns—think of it as how much profit a baker earns from the oven space they actually used over time.
return on average common equity financial
"Return on Average Common Equity 4.52% -12.29%..."
Return on average common equity measures how much profit a company generates for regular shareholders compared with the typical amount of their invested capital over a period. Think of it as the crop yield from an average-sized field: higher values mean the company is using shareholders’ money more efficiently to produce earnings, which helps investors compare profitability and management performance across firms and time.
Earnings Snapshot
Net income: $2.7M
Q1 2026
Net income
$2.7M
Earnings per common share
$0.14
Total assets
$3.96B
Total loans
$1.9B
Total deposits
$3.5B
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): May 7, 2026
(Exact name of registrant as specified in its charter)
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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):
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:
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Item 2.02. Results of Operations and Financial Condition
On May 7, 2026, First Guaranty Bancshares, Inc. released its First Quarter 2026 Report to shareholders. 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 May 7, 2026 captioned "First Quarter 2026 Report"
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: May 7, 2026 | |||||||||||
| By: | /s/Eric J. Dosch | ||||||||||
| Eric J. Dosch | |||||||||||
| Chief Financial Officer | |||||||||||
INDEX TO EXHIBITS
| Exhibit Number | Description | ||||
Exhibit 99.1 | Press Release May 7, 2026 captioned "First Quarter 2026 Report" | ||||
FI R ST G UA R A N TY B A N CS H A R ES , I N C. Po st O ffi ce B ox 2 00 9 H am m on d, L ou is ia na 7 04 04 -2 00 9 PR ES O R TE D FI R ST -C LA SS M A IL U. S. P O ST AG E PA ID B AT O N R O UG E, L A PE R M IT N O . 9 84 FIRST GUARANTY BANCSHARES, INC. 1st Quarter Report 2026 At A Glance (unaudited) Member FDIC fgb.net | Total Assets $4.0 Billion Deposits $3.5 Billion Locations 30 ATMs 40 $2.7Million 1Q 2026 Earnings 131 Consecutive dividends paid and counting 92 Years in Banking Total Loans $1.9 Billion NASDAQ Symbol: FGBI We’re Social: Have Questions? Vanessa Drew | InvestorRelations@fgb.net Scan here or go to investors.fgb.net to visit our Investor Relations site.
Michael R. Mineer Chief Executive Officer/President First Guaranty Bancshares, Inc. A Message to Our Shareholders Consolidated Balance Sheets (in thousands, except share data) Consolidated Statements of Income (in thousands, except share, per share data & percentages) Assets Cash and cash equivalents: Cash and due from banks $733,223 $617,866 Federal funds sold 544 563 Cash and cash equivalents 733,767 618,429 Interest-earning time deposits with banks 250 250 Investment securities: Available for sale, at fair value 853,913 273,027 Held to maturity, at cost and net of allowance for credit losses of $150 (estimated fair value of $265,579 and $259,641 respectively) 322,939 321,883 Investment securities 1,176,852 594,910 Federal Home Loan Bank stock, at cost 10,324 9,835 Loans, net of unearned income 1,924,577 2,512,788 Less: allowance for credit losses 38,488 43,022 Net loans 1,886,089 2,469,766 Premises and equipment, net 58,753 66,579 Goodwill - 12,900 Intangible assets, net 2,429 3,265 Other real estate, net 28,872 152 Accrued interest receivable 13,920 14,574 Other assets 47,286 38,609 Total Assets $3,958,542 $3,829,269 Liabilities and Shareholders’ Equity Deposits: Noninterest-bearing demand $411,764 $425,617 Interest-bearing demand 1,100,162 1,248,633 Savings 217,316 243,701 Time 1,778,302 1,421,515 Total deposits 3,507,544 3,339,466 Repurchase agreements 7,119 7,113 Accrued interest payable 22,558 19,505 Long-term advances from Federal Home Loan Bank 135,000 135,000 Senior long-term debt 14,210 14,174 Junior subordinated debentures 29,820 44,760 Other liabilities 18,301 17,806 Total Liabilities 3,734,552 3,577,824 Shareholders’ Equity Preferred Stock, Series A - $1,000 par value 100,000 shares authorized; non-cumulative perpetual; 34,500 issued and outstanding, respectively 33,058 33,058 Common stock - $1 par value 100,600,000 shares authorized; 16,028,044 and 12,691,504 shares issued and outstanding 16,028 12,691 Surplus 172,209 150,784 Retained earnings 16,058 66,092 Accumulated other comprehensive (loss) income (13,363) (11,180) Total Shareholders’ Equity 223,990 251,445 Total Liabilities & Shareholders’ Equity $ 3,958,542 $3,829,269 March 31, 2026 2025 (unaudited) Three-Months Ended March 31, 2026 2025 (unaudited) Interest Income: Loans (including fees) $ 33,279 $ 42,969 Deposits with other banks 8,637 5,999 Securities (including FHLB stock) 10,359 5,495 Total Interest Income 52,275 54,463 Interest Expense: Demand deposits 9,610 12,204 Savings deposits 946 1,262 Time deposits 18,599 15,890 Borrowings 2,431 2,884 Total Interest Expense 31,586 32,240 Net Interest Income 20,689 22,223 Less: Provision for credit losses 2,625 14,548 Net Interest Income after Provision for Credit Losses 18,064 7,675 Noninterest Income: Service charges, commissions and fees 758 849 ATM and debit card fees 642 747 Net gains on sale of assets 44 4 Net gains on securities 1 - Other 763 754 Total Noninterest Income 2,208 2,354 Total Business Revenue, Net of Provision for Credit Losses 20,272 10,029 Noninterest Expense: Salaries and employee benefits 7,352 8,441 Occupancy and equipment expense 2,464 2,640 Other 6,913 6,936 Total Noninterest Expense 16,729 18,017 Income (Loss) Before Income Taxes 3,543 (7,988) Less: Provision (Benefit) for income taxes 800 (1,822) Net Income (Loss) 2,743 (6,166) Less: Preferred stock dividends 582 582 Income (Loss) Available to Common Shareholders $ 2,161 $(6,748) Per Common Share: Earnings (Loss) $0.14 $(0.54) Cash dividends paid $0.01 $0.01 Book Value $11.91 $17.21 Weighted Average Common Shares Outstanding 15,796,040 12,506,792 Return on Average Assets 0.27% -0.63% Return on Average Common Equity 4.52% -12.29% Dear Shareholders, First Guaranty continues to make progress reducing non- performing assets, strengthening earnings and improving our capital ratios. We reduced nonperforming assets by $12.0 million from $95.5 million at December 31, 2025 to $83.5 million at March 31, 2026. First Guaranty generated positive earnings to our common shareholders of $2.2 million in the first quarter of 2026. We improved our bank risk weighted capital ratio 123 bps to 14.71% at March 31, 2026 from 13.48% at December 31, 2025. • Net income for the first quarter of 2026 was $2.7 million. • The provision for credit losses for the first quarter of 2026 was $2.6 million. • Loan Charge-offs were $5.4 million for the first quarter of 2026. • Earnings per common share were $0.14 for the first quarter of 2026. Total loans at March 31, 2026 were $1.9 billion, a decrease of $145.2 million, or 7.0%, compared with December 31, 2025. The reduction in loans was part of our plan to reduce risk in the balance sheet. Total deposits were $3.5 billion at March 31, 2026, a decrease of $125.3 million, or 3.5%, compared with December 31, 2025. The decrease in deposits was also part of our plan to reduce risk in the balance sheet as our we reduced higher cost deposits. • The allowance for credit losses was 2.0% of total loans at March 31, 2026 compared to 1.97% at December 31, 2025. • Shareholders’ equity was $224.0 million and $226.2 million at March 31, 2026 and December 31, 2025, respectively. We continue to move forward with our business strategy to reduce balance sheet risk, improve earnings, and grow capital. Please feel free to reach out to me with any questions. Additional information on our performance is located on our investor relations website. Sincerely,