Earnings release
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EXHIBIT 99.1 JULY 27, 2026 NEWS FOR IMMEDIATE RELEASE CONTACT: ERIC J. DOSCH, CFO 985.375.0308 First Guaranty Bancshares, Inc. Announces Second Quarter 2026 Financial Results Hammond, Louisiana, July 27, 2026 – First Guaranty Bancshares, Inc. ("First Guaranty") (NASDAQ: FGBI), the holding company for First Guaranty Bank, announced its unaudited financial results for the second quarter and six months ending June 30, 2026. Financial Highlights for the second quarter and six months ended June 30, 2026, are as follows: • Net income (loss) for the three months ended June 30, 2026 and 2025 was $3.4 million and $(7.3) million, respectively. Net income (loss) for the six months ended June 30, 2026 and 2025 was $6.2 million and $(13.5) million, respectively, an increase of $19.6 million. • Total assets decreased $183.3 million and were $3.9 billion at June 30, 2026 compared to $4.1 billion at December 31, 2025. Total loans at June 30, 2026 were $1.8 billion, a decrease of $304.6 million, or 14.7%, compared with December 31, 2025. Total deposits were $3.5 billion at June 30, 2026, a decrease of $175.8 million, or 4.8%, compared with December 31, 2025. Retained earnings were $18.7 million at June 30, 2026, an increase of $4.7 million compared to $14.1 million at December 31, 2025. Shareholders' equity was $227.4 million and $226.2 million at June 30, 2026 and December 31, 2025, respectively. • Earnings (loss) per common share were $0.17 and $(0.61) for the three months ended June 30, 2026 and 2025, respectively. Total weighted average shares outstanding were 16,326,060 and 12,910,785 for the three months ended June 30, 2026 and 2025, respectively. Earnings (loss) per common share were $0.31 and $(1.15) for the six months ended June 30, 2026 and 2025, respectively. Total weighted average shares outstanding were 16,062,514 and 12,709,905 for the six months ended June 30, 2026 and 2025, respectively. • The allowance for credit losses was 1.94% of total loans at June 30, 2026 compared to 1.97% at December 31, 2025. • Net interest income for the three months ended June 30, 2026 was $22.3 million compared to $22.2 million for the three months ended June 30, 2025. Net interest income for the six months ended June 30, 2026 was $43.0 million compared to $44.5 million for the six months ended June 30, 2025. • The provision for credit losses for the three months ended June 30, 2026 was $2.6 million compared to $16.6 million for the three months ended June 30, 2025. The provision for credit losses for the six months ended June 30, 2026 was $5.3 million compared to $31.2 million for the six months ended June 30, 2025. • Charge-offs were $7.7 million during the three months ended June 30, 2026 and $1.1 million during the same period in 2025. Recoveries totaled $0.9 million during the three months ended June 30, 2026 and $0.2 million during the same period in 2025. Charge-offs were $13.2 million during the six months ended June 30, 2026 and $8.0 million during the same period in 2025. Recoveries totaled $1.5 million during the six months ended June 30, 2026 and $0.4 million during the same period in 2025. • First Guaranty had $29.7 million of other real estate owned as of June 30, 2026 compared to $35.1 million at December 31, 2025. • The net interest margin for the three months ended June 30, 2026 was 2.37% which was an increase of 3 basis points from the net interest margin of 2.34% for the same period in 2025. The net interest margin for the six months ended June 30, 2026 was 2.22% which was a decrease of 13 basis points from the net interest margin of 2.35% for the same period in 2025. Loans as a percentage of average interest earning assets decreased to 49.5% at June 30, 2026 compared to 66.5% at June 30, 2025. • Investment securities totaled $1.2 billion at June 30, 2026, an increase of $214.7 million when compared to $999.3 million at December 31, 2025. At June 30, 2026, available for sale securities, at fair value, totaled $890.8 million, an increase of $214.2 million when compared to $676.6 million at December 31, 2025. At June 30, 2026, held to maturity securities, at amortized cost and net of the allowance for credit losses totaled $323.2 million, an increase of $0.5 million when compared to $322.7 million at December 31, 2025. The allowance for credit losses for HTM securities was $0.2 million at June 30, 2026 and December 31, 2025. • Total loans net of unearned income were $1.8 billion at June 30, 2026, a net decrease of $304.6 million from December 31, 2025. Total loans net of unearned income are reduced by the allowance for credit losses which totaled $34.3 million at June 30, 2026 and $40.8 million at December 31, 2025, respectively. • Nonaccrual loans decreased $19.0 million to $40.6 million at June 30, 2026 compared to $59.6 million at December 31, 2025. • At June 30, 2026, the largest 10 non-performing loan relationships comprise 78% of total non-performing assets. Additional details on the non- performing relationships are as follows: 1. A $23.3 million loan relationship secured by an independent living center located in Louisiana; the loan was transferred to other real estate owned in the fourth quarter of 2025. 2. A $10.8 million loan relationship secured by an assisted living center located in Texas; the loan was placed on nonaccrual in the third quarter of 2025. 3. A $7.7 million loan relationship secured by commercial land development located in Texas; the loan was placed on nonaccrual in the second quarter of 2026.
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4. A $5.2 million loan relationship was placed on nonaccrual during the second quarter of 2025. The loan is secured by multifamily apartment complexes located in Louisiana. This loan relationship had a specific reserve of $0.8 million as of June 30, 2026. 5. A $2.4 million guaranteed loan secured by livestock and farmland located in Louisiana; the loan was placed in nonaccrual in the fourth quarter of 2024. 6. A $1.5 million loan secured by a hotel in Louisiana; the loan was placed on nonaccrual during the second quarter of 2026. This loan relationship had a specific reserve of $0.6 million as of June 30, 2026. 7. A $1.2 million loan secured by multiple office buildings located in West Virginia; the loan was placed on nonaccrual during the second quarter of 2025. 8. A $1.0 million loan secured by commercial real estate in Texas; the loan was placed on nonaccrual during the third quarter of 2024. 9. A $0.8 million loan secured by a retail strip center located in Louisiana; the loan was placed on nonaccrual during the fourth quarter of 2025. 10. A $0.8 million loan secured by a mobile home park located in New Mexico; the loan was transferred to other real estate owned in the second quarter of 2026. • First Guaranty charged off $7.7 million in loan balances during the second quarter of 2026. The details of the $7.7 million in charged-off loans were as follows: 1. First Guaranty charged off $5.7 million on a commercial lease relationship during the second quarter of 2026. This relationship had no remaining principal balance as of June 30, 2026. 2. First Guaranty charged off $0.8 million on a commercial lease relationship during the second quarter of 2026. This relationship had no remaining principal balance as of June 30, 2026. 3. First Guaranty charged off $0.7 million on a non-farm non-residential loan relationship during the second quarter of 2026. This relationship had a remaining principal balance of $0.4 million as of June 30, 2026. 4. Smaller loans and overdrawn deposit accounts comprised the remaining $0.5 million of charge-offs for the second quarter of 2026. • Special mention loan relationships totaled $186.6 million as of June 30, 2026, a decline of $142.9 million compared to December 31, 2025. • Substandard loan relationships totaled $276.6 million as of June 30, 2026, a decline of $71.0 million compared to December 31, 2025. • There were no doubtful loan relationships as of June 30, 2026, a decline of $9.4 million compared to December 31, 2025. • Noninterest expense totaled $17.2 million for the second quarter 2026, $16.7 million for the first quarter 2026, $16.8 million for the fourth quarter of 2025, $30.2 million for the third quarter of 2025 (including $12.9 million of goodwill impairment), and $17.3 million for the second quarter of 2025. Full time equivalent employees totaled 333 at June 30, 2026 compared to 360 at June 30, 2025. • Return on average assets for the three months ended June 30, 2026 and 2025 was 0.35% and (0.75)%, respectively. Return on average assets for the six months ended June 30, 2026 and 2025 was 0.31% and (0.69)%, respectively. Return on average common equity for the three months ended June 30, 2026 and 2025 was 5.95% and (14.33)%, respectively. Return on average common equity for the six months ended June 30, 2026 and 2025 was 5.24% and (13.31)% respectively. Return on average assets is calculated by dividing annualized net income by average assets. Return on average common equity is calculated by dividing annualized net income by average common equity. • Book value per common share was $11.75 as of June 30, 2026 compared to $12.23 as of December 31, 2025. The decrease was due primarily to the changes in accumulated other comprehensive income ("AOCI") and recent issuance of new shares. AOCI is comprised of unrealized gains and losses on available for sale securities, including unrealized losses on available for sale securities at the time of transfer to held to maturity. • First Guaranty's Board of Directors declared cash dividends of $0.01 per common share in the second quarter of 2026 and 2025. First Guaranty has paid 132 consecutive quarterly dividends as of June 30, 2026. • First Guaranty paid preferred stock dividends of $1.2 million during the first six months of 2026 and 2025. • On March 10, 2026, First Guaranty Bank entered into an agreement with Armstrong Bank, Muskogee, Oklahoma, to sell the Bank's Texas operations, consisting of five branches and related deposits, loans and certain other assets, to Armstrong Bank. The transaction is expected to consist of approximately $227 million in deposits and $93 million in loans. The transaction is expected to close on July 31, 2026. 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 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 report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended with respect to the financial condition, liquidity, results of operations, and future performance of the business of First Guaranty Bancshares, Inc. These forward-looking statements are intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those that are not historical facts. Forward-looking statements include statements with respect to beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions that are subject to significant risks and uncertainties and are subject to change based on various factors (some of which
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are beyond our control). Forward-looking statements often include the words “believes,” “expects,” “anticipates,” “estimates,” “forecasts,” “intends,” “plans,” “targets,” “potentially,” “probably,” “projects,” “outlook” or similar expressions or future conditional verbs such as “may,” “will,” “should,” “would” and “could.” We caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. These forward-looking statements are subject to a number of factors and uncertainties, including, without limitation, the “Risk Factors” referenced in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, and other risks and uncertainties listed from time to time in our reports and documents filed with the Securities and Exchange Commission. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. No Offer or Solicitation This release does not constitute or form part of any offer to sell, or a solicitation of an offer to purchase, any securities of First Guaranty. There will be no sale of securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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FIRST GUARANTY BANCSHARES, INC. AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands, except share data) June 30, 2026 December 31, 2025 Assets Cash and cash equivalents: Cash and due from banks $ 781,030 $ 845,150 Federal funds sold 546 551 Cash and cash equivalents 781,576 845,701 Interest-earning time deposits with banks 250 250 Investment securities: Available for sale, at fair value (cost of $901,862 and $674,139 respectively) 890,758 676,592 Held to maturity, at cost and net of allowance for credit losses of $150 (estimated fair value of$265,294 and $268,094 respectively) 323,203 322,675 Investment securities 1,213,961 999,267 Federal Home Loan Bank stock, at cost 10,433 10,206 Loans, net of unearned income 1,765,210 2,069,802 Less: allowance for credit losses 34,299 40,755 Net loans 1,730,911 2,029,047 Premises and equipment, net 72,656 59,585 Intangible assets, net 2,218 2,638 Other real estate, net 29,721 35,084 Accrued interest receivable 11,875 12,455 Other assets 41,409 84,088 Total Assets $ 3,895,010 $ 4,078,321 Liabilities and Shareholders' Equity Deposits: Noninterest-bearing demand $ 415,296 $ 414,604 Interest-bearing demand 1,092,746 1,165,061 Savings 224,436 213,936 Time 1,724,574 1,839,276 Total deposits 3,457,052 3,632,877 Repurchase agreements 7,227 7,119 Accrued interest payable 17,492 17,637 Long-term advances from Federal Home Loan Bank 135,000 135,000 Senior long-term debt 14,214 14,203 Junior subordinated debentures 29,835 29,805 Other liabilities 6,840 15,462 Total Liabilities 3,667,660 3,852,103 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; 16,539,094 and 15,793,433 sharesissued and outstanding 16,539 15,793 Surplus 176,492 170,621 Retained earnings 18,742 14,055 Accumulated other comprehensive (loss) income (17,481) (7,309) Total Shareholders' Equity 227,350 226,218 Total Liabilities and Shareholders' Equity $ 3,895,010 $ 4,078,321 See Notes to Consolidated Financial Statements
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FIRST GUARANTY BANCSHARES, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF INCOME (unaudited) Three Months EndedJune 30, Six Months EndedJune 30, (in thousands, except share data) 2026 2025 2026 2025 Interest Income: Loans (including fees) $ 33,090 $ 41,013 $ 66,369 $ 83,982 Deposits with other banks 6,073 7,511 14,710 13,510 Securities (including FHLB stock) 12,118 5,797 22,477 11,292 Total Interest Income 51,281 54,321 103,556 108,784 Interest Expense: Demand deposits 8,241 12,708 17,851 24,912 Savings deposits 963 1,336 1,909 2,598 Time deposits 17,395 15,196 35,994 31,086 Borrowings 2,404 2,841 4,835 5,725 Total Interest Expense 29,003 32,081 60,589 64,321 Net Interest Income 22,278 22,240 42,967 44,463 Less: Provision for credit losses 2,625 16,610 5,250 31,158 Net Interest Income after Provision for Credit Losses 19,653 5,630 37,717 13,305 Noninterest Income: Service charges, commissions and fees 736 834 1,494 1,683 ATM and debit card fees 655 778 1,297 1,525 Net gains on securities — — 1 — Net gains on sale of assets — — 44 4 Other 508 544 1,271 1,298 Total Noninterest Income 1,899 2,156 4,107 4,510 Total Business Revenue, Net of Provision for Credit Losses 21,552 7,786 41,824 17,815 Noninterest Expense: Salaries and employee benefits 7,029 7,843 14,381 16,284 Occupancy and equipment expense 2,361 2,605 4,825 5,245 Other 7,818 6,819 14,731 13,755 Total Noninterest Expense 17,208 17,267 33,937 35,284 Income (Loss) Before Income Taxes 4,344 (9,481) 7,887 (17,469) Provision (benefit) for income taxes 913 (2,178) 1,713 (4,000) Net Income (Loss) 3,431 (7,303) 6,174 (13,469) Less: Preferred stock dividends 582 582 1,164 1,164 Net Income (Loss) Available to Common Shareholders $ 2,849 $ (7,885)$ 5,010 $ (14,633) Per Common Share: Earnings (Loss) $ 0.17 $ (0.61)$ 0.31 $ (1.15) Cash dividends paid $ 0.01 $ 0.01 $ 0.02 $ 0.02 Weighted Average Common Shares Outstanding 16,326,060 12,910,785 16,062,514 12,709,905 See Notes to Consolidated Financial Statements
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FIRST GUARANTY BANCSHARES, INC. AND SUBSIDIARY CONSOLIDATED AVERAGE BALANCE SHEETS (unaudited) Three Months Ended June 30, 2026 Three Months Ended June 30, 2025 (in thousands except for %) AverageBalance Interest Yield/Rate (5) AverageBalance Interest Yield/Rate (5) Assets Interest-earning assets: Interest-earning deposits with banks$ 657,069 $ 6,073 3.71 % $ 676,456 $ 7,511 4.45 % Securities (including FHLB stock) 1,243,273 12,118 3.91 % 671,090 5,797 3.46 % Federal funds sold 544 — — % 573 — — % Loans held for sale — — — % — — — % Loans, net of unearned income (6) 1,864,702 33,090 7.12 % 2,459,978 41,013 6.69 % Total interest-earning assets 3,765,588 $ 51,281 5.46 % 3,808,097 $ 54,321 5.72 % Noninterest-earning assets: Cash and due from banks 24,787 20,676 Premises and equipment, net 68,430 66,172 Other assets 44,854 22,876 Total Assets $ 3,903,659 $ 3,917,821 Liabilities and Shareholders' Equity Interest-bearing liabilities: Demand deposits $ 1,064,664 $ 8,241 3.11 % $ 1,367,486 $ 12,708 3.73 % Savings deposits 219,383 963 1.76 % 243,589 1,336 2.20 % Time deposits 1,759,634 17,395 3.96 % 1,406,320 15,196 4.33 % Borrowings 186,565 2,404 5.17 % 200,862 2,841 5.67 % Total interest-bearing liabilities 3,230,246 $ 29,003 3.60 % 3,218,257 $ 32,081 4.00 % Noninterest-bearing liabilities: Demand deposits 416,385 406,409 Other 31,969 39,427 Total Liabilities 3,678,600 3,664,093 Shareholders' equity 225,059 253,728 Total Liabilities and Shareholders'Equity $ 3,903,659 $ 3,917,821 Net interest income $ 22,278 $ 22,240 Net interest rate spread (1) 1.86 % 1.72 % Net interest-earning assets (2) $ 535,342 $ 589,840 Net interest margin (3), (4) 2.37 % 2.34 % Average interest-earning assets tointerest-bearing liabilities 116.57 % 118.33 % (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 2.39% and 2.35% for the above periods ended June 30, 2026 and 2025 respectively. A 21% tax rate was used to calculate the effect on securities income from tax exempt securities for the above periods ended June 30, 2026 and 2025 respectively. (5) Annualized. (6) Includes loan fees of $1.2 million for the three months ended June 30, 2026 and 2025.
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FIRST GUARANTY BANCSHARES, INC. AND SUBSIDIARY CONSOLIDATED AVERAGE BALANCE SHEETS (unaudited) Six Months Ended June 30, 2026 Six Months Ended June 30, 2025 (in thousands except for %) AverageBalance Interest Yield/Rate (5) AverageBalance Interest Yield/Rate (5) Assets Interest-earning assets: Interest-earning deposits with banks$ 800,580 $ 14,710 3.71 % $ 612,331 $ 13,510 4.45 % Securities (including FHLB stock) 1,174,109 22,477 3.86 % 664,386 11,292 3.43 % Federal funds sold 546 — — % 523 — — % Loans held for sale — — — % 1,705 — — % Loans, net of unearned income (6) 1,936,196 66,369 6.91 % 2,541,990 83,982 6.66 % Total interest-earning assets 3,911,431 $ 103,556 5.34 % 3,820,935 $ 108,784 5.74 % Noninterest-earning assets: Cash and due from banks 24,411 20,517 Premises and equipment, net 63,743 66,550 Other assets 46,862 26,847 Total Assets $ 4,046,447 $ 3,934,849 Liabilities and Shareholders' Equity Interest-bearing liabilities: Demand deposits $ 1,146,400 $ 17,851 3.14 % $ 1,370,630 $ 24,912 3.67 % Savings deposits 217,272 1,909 1.77 % 240,265 2,598 2.18 % Time deposits 1,817,975 35,994 3.99 % 1,423,912 31,086 4.40 % Borrowings 186,351 4,835 5.23 % 201,441 5,725 5.73 % Total interest-bearing liabilities 3,367,998 $ 60,589 3.63 % 3,236,248 $ 64,321 4.01 % Noninterest-bearing liabilities: Demand deposits 416,993 404,214 Other 35,461 39,679 Total Liabilities 3,820,452 3,680,141 Shareholders' equity 225,995 254,708 Total Liabilities and Shareholders'Equity $ 4,046,447 $ 3,934,849 Net interest income $ 42,967 $ 44,463 Net interest rate spread (1) 1.71 % 1.73 % Net interest-earning assets (2) $ 543,433 $ 584,687 Net interest margin (3), (4) 2.22 % 2.35 % Average interest-earning assets tointerest-bearing liabilities 116.14 % 118.07 % (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 2.23% and 2.35% for the above periods ended June 30, 2026 and 2025 respectively. A 21% tax rate was used to calculate the effect on securities income from tax exempt securities for the above periods ended June 30, 2026 and 2025 respectively. (5) Annualized. (6) Includes loan fees of $2.8 million for the six months ended June 30, 2026 and 2025.
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The following table summarizes the components of First Guaranty's loan portfolio as of June 30, 2026, March 31, 2026, December 31, 2025, and September 30, 2025: June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 (in thousands except for%) Balance As % ofCategory Balance As % ofCategory Balance As % ofCategory Balance As % ofCategory Real Estate: Construction & landdevelopment $ 99,000 5.6 % $ 109,758 5.7 % $ 149,493 7.2 % $ 231,156 10.1 % Farmland 30,878 1.7 % 31,377 1.6 % 32,160 1.5 % 31,685 1.4 % 1- 4 Family 420,388 23.8 % 427,518 22.2 % 428,773 20.7 % 441,017 19.3 % Multifamily 85,772 4.8 % 127,973 6.6 % 144,235 6.9 % 137,582 6.0 % Non-farm non-residential 790,300 44.7 % 879,022 45.5 % 948,536 45.7 % 1,003,198 43.9 % Total Real Estate 1,426,338 80.6 % 1,575,648 81.6 % 1,703,197 82.0 % 1,844,638 80.7 % Non-Real Estate: Agricultural 42,860 2.4 % 37,899 2.0 % 35,244 1.7 % 44,737 2.0 % Commercial andindustrial 222,627 12.6 % 214,368 11.1 % 228,738 11.0 % 227,077 9.9 % Commercial leases 56,619 3.2 % 71,110 3.7 % 75,617 3.7 % 134,958 5.9 % Consumer and other 21,223 1.2 % 31,070 1.6 % 33,023 1.6 % 34,763 1.5 % Total Non-Real Estate 343,329 19.4 % 354,447 18.4 % 372,622 18.0 % 441,535 19.3 % Total loans beforeunearned income 1,769,667 100.0 % 1,930,095 100.0 % 2,075,819 100.0 % 2,286,173 100.0 % Unearned income (4,457) (5,518) (6,017) (6,432) Total loans net ofunearned income $ 1,765,210 $ 1,924,577 $ 2,069,802 $ 2,279,741
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The table below sets forth the amounts and categories of our nonperforming assets at the dates indicated.
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(in thousands) June 30, 2026 March 31, 2026 December 31,2025 September 30,2025 Nonaccrual loans: Real Estate: Construction and land development $ 18,823 $ 9,466 $ 9,281 $ 8,707 Farmland 2,595 2,633 2,671 2,777 1- 4 family 7,593 8,865 9,768 10,536 Multifamily 2,215 2,231 2,278 23,998 Non-farm non-residential 7,064 21,789 24,347 42,532 Total Real Estate 38,290 44,984 48,345 88,550 Non-Real Estate: Agricultural 1,436 1,645 2,172 1,886 Commercial and industrial 841 1,224 2,266 5,339 Commercial leases — 6,483 6,640 18,358 Consumer and other 27 73 158 132 Total Non-Real Estate 2,304 9,425 11,236 25,715 Total nonaccrual loans 40,594 54,409 59,581 114,265 Loans 90 days and greater delinquent & accruing: Real Estate: Construction and land development — — — — Farmland — — — — 1- 4 family — 107 763 — Multifamily — — — — Non-farm non-residential — 123 33 — Total Real Estate — 230 796 — Non-Real Estate: Agricultural — — — — Commercial and industrial — — — — Commercial leases — — — — Consumer and other — — — — Total Non-Real Estate — — — — Total loans 90 days and greater delinquent & accruing — 230 796 — Total non-performing loans 40,594 54,639 60,377 114,265 Real Estate Owned: Real Estate Loans: Construction and land development 1,161 1,161 8,161 8,545 Farmland — — — — 1- 4 family 897 851 351 234 Multifamily — — — — Non-farm non-residential 27,663 26,860 26,572 3,271 Total Real Estate 29,721 28,872 35,084 12,050 Non-Real Estate Loans: Agricultural — — — — Commercial and industrial — — — — Commercial leases — — — — Consumer and other — — — — Total Non-Real Estate — — — — Total Real Estate Owned 29,721 28,872 35,084 12,050 Total non-performing assets $ 70,315 $ 83,511 $ 95,461 $ 126,315 Non-performing assets to total loans 3.98 % 4.34 % 4.61 % 5.54 % Non-performing assets to total assets 1.81 % 2.11 % 2.34 % 3.33 % Non-performing loans to total loans 2.30 % 2.84 % 2.92 % 5.01 % Nonaccrual loans to total loans 2.30 % 2.83 % 2.88 % 5.01 % Allowance for credit losses to nonaccrual loans 84.49 % 70.74 % 68.40 % 75.01 % Net loan charge-offs to average loans 1.22 % 0.99 % 3.17 % 1.55 %
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The table below lists the Top 10 Nonperforming Assets at June 30, 2026. Top 10 Non-Performing Assets Balance Allocated ReserveOrigination Year Location Asset Description 1 Independent Living Center OREO $ 23,301 $ — 2021 Louisiana 2 Assisted Living Center 10,789 — 2023-2025 Texas 3 Commercial Land Development 7,723 73 2023 Texas 4 Apartment Complex 5,181 794 2023 Louisiana 5 Farmland 2,391 — 2020 Louisiana 6 Hotel 1,522 550 2016 Louisiana 7 Commercial Building 1,175 — 2023 West Virginia 8 Commercial Real Estate 965 — 2017 Texas 9 Retail Strip Center 833 5 2016 Louisiana 10 Mobile Home Park OREO 831 — 2020 New Mexico $ 54,711 $ 1,422 The table below provides a status update as of June 30, 2026 on the previously reported Top 10 Nonperforming Assets in first quarter 2026. Top 10 Nonperforming Assets March 31, 2026 June 30, 2026 Balance Allocated Reserve Location Status Asset Description 1 Independent Living Center $ 23,301 $ — Louisiana Remains in OREO 2 Assisted Living Center 14,488 — Louisiana Paid Off 3 Assisted Living Center 9,138 — Texas Remains Nonaccrual 4 Commercial Lease 5,711 — Multistate Charged Off 5 Apartment Complex 5,208 857 Louisiana Remains Nonaccrual 6 Farmland 1,422 — Louisiana Remains Nonaccrual 7 Commercial Real Estate 1,308 28 Texas Remains Nonaccrual 8 Commercial Building 1,199 21 West Virginia Remains Nonaccrual 9 Mobile Home Park 1,164 — New Mexico Transferred to OREO 10 Poultry/Cattle Farm 997 — Louisiana Remains Nonaccrual $ 63,936 $ 906
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The tables below list the top 10 special mention and substandard relationships as of June 30, 2026. Top 10 Special Mention Relationships Balance Allocated Reserve OriginationYear(s) Location Relationship Description 1 Assisted Living Facility 33,467 — 2022 Alabama 2 Construction Business 20,607 — 2022-2024 Louisiana & Texas 3 Assisted Living Facility 16,602 — 2017 Louisiana 4 Recreational Park 16,465 — 2020 Louisiana 5 Land Subdivision 16,152 — 2022 Texas 6 Warehouse Facility 15,750 — 2011 Louisiana &Tennessee 7 Hotel Property 14,518 — 2023 Florida 8 Multipurpose Commercial Real Estate Building 8,884 — 2023 Louisiana 9 Multipurpose Commercial Real Estate Building 7,317 — 2021 Texas 10 Hotel Property 4,592 — 2023 Georgia $ 154,354 $ — Top 10 Substandard Relationships Balance Allocated Reserve OriginationYear(s) Location Relationship Description 1 Medical Facilities $ 45,302 $ — 2008-2022 Louisiana 2 Owner Occupied Office Building 30,705 — 2023 Utah 3 Manufacturing Company 30,270 — 2015-2024 Louisiana 4 Medical Facilities 23,176 ` — 2020-2021 Arkansas 5 Commercial Retail Shopping Center 13,204 — 2020-2022 Oklahoma 6 Food Processor 12,755 — 2022-2024 Ohio 7 Gas Station & Convenience Store 11,420 — 2023 Louisiana 8 Assisted Living Facility 10,789 — 2023-2025 Texas 9 Commercial Land Development 7,723 73 2023 Texas 10 Timber & Lodging 7,006 — 2022-2024 Louisiana $ 192,350 $ 73
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The following table presents, for the periods indicated, the major categories of other noninterest expense: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2026 2025 2026 2025 Other noninterest expense: Legal and professional fees $ 787 $ 671 $ 1,480 $ 1,759 Data processing 365 349 690 686 ATM fees 344 502 702 852 Marketing and public relations 189 163 411 404 Taxes - sales, capital, and franchise 518 543 1,034 1,043 Operating supplies 39 49 111 86 Software expense and amortization 1,237 1,188 2,409 2,404 Travel and lodging 127 126 182 198 Telephone 92 104 186 195 Amortization of core deposit intangibles 174 174 348 348 Donations 86 82 153 140 Net costs from other real estate and repossessions 530 24 898 74 Regulatory assessment 1,808 1,609 3,616 3,153 Other 1,522 1,235 2,511 2,413 Total other noninterest expense $ 7,818 $ 6,819 $ 14,731 $ 13,755 The following table presents, for the periods indicated, the major categories of other noninterest expense: Three MonthsEnded June 30, Three MonthsEnded March 31, Three MonthsEnded December31, Three MonthsEnded September30, (in thousands) 2026 2026 2025 2025 Other noninterest expense: Legal and professional fees $ 787 $ 693 $ 665 $ 988 Data processing 365 325 331 336 ATM fees 344 358 432 390 Marketing and public relations 189 222 174 151 Taxes - sales, capital, and franchise 518 516 237 542 Operating supplies 39 72 48 66 Software expense and amortization 1,237 1,172 1,289 1,211 Travel and lodging 127 55 133 88 Telephone 92 94 91 88 Amortization of core deposit intangibles 174 174 174 174 Donations 86 67 33 51 Net costs from other real estate and repossessions 530 368 815 13 Regulatory assessment 1,808 1,808 1,778 1,777 Other 1,522 989 1,437 1,330 Total other noninterest expense $ 7,818 $ 6,913 $ 7,637 $ 7,205
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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 June 30, At December 31, (in thousands except for share data and%) 2026 2025 2024 2023 2022 Tangible Common Equity Total shareholders' equity $ 227,350 $ 226,218 $ 255,049 $ 249,631 $ 234,991 Adjustments: Preferred 33,058 33,058 33,058 33,058 33,058 Goodwill — — 12,900 12,900 12,900 Acquisition intangibles 1,918 2,266 2,962 3,658 4,355 Other intangibles 100 100 100 100 — Tangible common equity $ 192,274 $ 190,794 $ 206,029 $ 199,915 $ 184,678 Common shares outstanding 16,539,094 15,793,433 12,504,717 12,475,424 10,716,796 Book value per common share $ 11.75 $ 12.23 $ 17.75 $ 17.36 $ 18.84 Tangible book value per commonshare $ 11.63 $ 12.08 $ 16.48 $ 16.03 $ 17.23 Tangible Assets Total Assets $ 3,895,010 $ 4,078,321 $ 3,972,728 $ 3,552,772 $ 3,151,347 Adjustments: Goodwill — — 12,900 12,900 12,900 Acquisition intangibles 1,918 2,266 2,962 3,658 4,355 Other intangibles 100 100 100 100 — Tangible Assets $ 3,892,992 $ 4,075,955 $ 3,956,766 $ 3,536,114 $ 3,134,092 Tangible common equity to tangibleassets 4.94 % 4.68 % 5.21 % 5.65 % 5.89 %
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Regulatory Capital Risk-based capital regulations adopted by the FDIC require banks to achieve and maintain specified ratios of capital to risk-weighted assets. Similar capital regulations apply to bank holding companies over $3.0 billion in assets. The risk-based capital rules are designed to measure "Tier 1" capital (consisting of common equity, retained earnings and a limited amount of qualifying perpetual preferred stock and trust preferred securities, net of goodwill and other intangible assets and accumulated other comprehensive income) and total capital in relation to the credit risk of both on- and off- balance sheet items. Under the guidelines, one of its risk weights is applied to the different on-balance sheet items. Off-balance sheet items, such as loan commitments, are also subject to risk weighting. Applicable bank holding companies and all banks must maintain a minimum total capital to total risk weighted assets ratio of 8.00%, at least half of which must be in the form of core or Tier 1 capital. These guidelines also specify that bank holding companies that are experiencing internal growth or making acquisitions will be expected to maintain capital positions substantially above the minimum supervisory levels. In order to avoid limitations on distributions, including dividend payments, and certain discretionary bonus payments to executive officers, an institution must hold a capital conservation buffer above its minimum risk-based capital requirements. As of June 30, 2026, the Bank's capital conservation buffer was 8.21% exceeding the minimum of 2.50%. As of June 30, 2026, First Guaranty's capital conservation buffer was 6.81% exceeding the minimum of 2.50%. As a result of the Economic Growth, Regulatory Relief, and Consumer Protection Act, the Federal Reserve Board has amended its small bank holding company and savings and loan holding company policy statement to provide that holding companies with consolidated assets of less than $3 billion that are (i) not engaged in significant nonbanking activities, (ii) do not conduct significant off-balance sheet activities, and (3) do not have a material amount of SEC-registered debt or equity securities, other than trust preferred securities, that contribute to an organization's complexity, are no longer subject to regulatory capital requirements, effective August 30, 2018. On January 1, 2024, First Guaranty ceased being considered a "small bank holding company". Accordingly, both the Bank and First Guaranty are required to maintain specified ratios of capital to risk-weighted assets. In addition, as a result of the legislation, the federal banking agencies have developed a "Community Bank Leverage Ratio" (the ratio of a bank's Tier 1 capital to average total consolidated assets) for financial institutions with assets of less than $10 billion. A "qualifying community bank" that exceeds this ratio will be deemed to be in compliance with all other capital and leverage requirements, including the capital requirements to be considered "well capitalized" under Prompt Corrective Action statutes. The federal banking agencies may consider a financial institution's risk profile when evaluating whether it qualifies as a community bank for purposes of the capital ratio requirement. The federal banking agencies initially set the new Community Bank Leverage Ratio at 9%. In April 2026, the federal banking agencies finalized a rule lowering the Community Bank Leverage Ratio to 8%, effective July 1, 2026; early adoption is not permitted. As of June 30, 2026, the Bank has not elected to follow the Community Bank Leverage Ratio. At June 30, 2026, we satisfied the minimum regulatory capital requirements and were well capitalized within the meaning of federal regulatory requirements. "Well Capitalized Minimums"As of June 30, 2026 As of December 31, 2025 Tier 1 Leverage Ratio Bank 5.00% 7.09% 6.90% Consolidated N/A 6.22% 5.93% Tier 1 Risk-based Capital Ratio Bank 8.00% 14.95% 12.24% Consolidated 8.00% 13.10% 10.52% Total Risk-based Capital Ratio Bank 10.00% 16.21% 13.48% Consolidated 10.00% 15.97% 13.12% Common Equity Tier One Capital Ratio Bank 6.50% 14.95% 12.24% Consolidated N/A 11.31% 9.03%