First Guaranty Bancshares, Inc. Announces First Quarter 2026 Financial Results

Hammond, Louisiana, April 27, 2026 - First Guaranty Bancshares, Inc. ("First Guaranty") (NASDAQ: FGBI), the holding company for First Guaranty Bank, announced its unaudited financial results for the first quarter and three months ending March 31, 2026.

Financial Highlights for the first quarter and three months ended March 31, 2026, are as follows:

• Net income (loss) for the three months ended March 31, 2026 and 2025 was $2.7 million and $(6.2) million, respectively, an increase of $8.9 million.

• CEO Michael R. Mineer stated the following: "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. First Guaranty generated positive earnings to our common shareholders of $2.2 million. We improved our bank risk weighted capital ratio 123 bps to 14.71% at March 31, 2026 from 13.48% at December 31, 2025. We continue to move forward with our business strategy to reduce balance sheet risk, improve earnings, and grow capital."

• Total assets decreased $119.8 million and were $4.0 billion at March 31, 2026 compared to $4.1 billion at December 31, 2025. Total loans at March 31, 2026 were $1.9 billion, a decrease of $145.2 million, or 7.0%, compared with December 31, 2025. Total deposits were $3.5 billion at March 31, 2026, a decrease of $125.3 million, or 3.4%, compared with December 31, 2025. Retained earnings were $16.1 million at March 31, 2026, an increase of $2.0 million compared to $14.1 million at December 31, 2025. Shareholders' equity was $224.0 million and $226.2 million at March 31, 2026 and December 31, 2025, respectively.

• Earnings (loss) per common share were $0.14 and $(0.54) for the three months ended March 31, 2026 and 2025, respectively. Total weighted average shares outstanding were 15,796,040 and 12,506,792 for the three months ended March 31, 2026 and 2025, respectively.

• The allowance for credit losses was 2.00% of total loans at March 31, 2026 compared to 1.97% at December 31, 2025.

• Net interest income for the three months ended March 31, 2026 was $20.7 million compared to $22.2 million for the three months ended March 31, 2025.

• The provision for credit losses for the three months ended March 31, 2026 was $2.6 million compared to $14.5 million for the three months ended March 31, 2025.

• Charge-offs were $5.4 million during the three months ended March 31, 2026 and $6.9 million during the same period in 2025. Recoveries totaled $0.5 million during the three months ended March 31, 2026 and $0.2 million during the same period in 2025.

• First Guaranty had $28.9 million of other real estate owned as of March 31, 2026 compared to $35.1 million at December 31, 2025.

• The net interest margin for the three months ended March 31, 2026 was 2.07% which was a decrease of 28 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 March 31, 2026 compared to 68.5% at March 31, 2025.

• Investment securities totaled $1.2 billion at March 31, 2026, an increase of $177.6 million when compared to $999.3 million at December 31, 2025. At March 31, 2026, available for sale securities, at fair value, totaled $853.9 million, an increase of $177.3 million when compared to $676.6 million at December 31, 2025. At March 31, 2026, held to maturity securities, at amortized cost and net of the allowance for credit losses totaled $322.9 million, an increase of $0.3 million when compared to $322.7 million at December 31, 2025. The allowance for credit losses for HTM securities was $0.2 million at March 31, 2026 and December 31, 2025.

• Total loans net of unearned income were $1.9 billion at March 31, 2026, a net decrease of $145.2 million from December 31, 2025. Total loans net of unearned income are reduced by the allowance for credit losses which totaled $38.5 million at March 31, 2026 and $40.8 million at December 31, 2025, respectively.

• Nonaccrual loans decreased $5.2 million to $54.4 million at March 31, 2026 compared to $59.6 million at December 31, 2025.

• At March 31, 2026, the largest 10 non-performing loan relationships comprise 77% 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 $14.5 million loan relationship secured by an assisted living center located in Louisiana; the loan was placed on nonaccrual in the second quarter of 2025. Payments received on the loan in the first quarter of 2026 reduced the balance by $0.4 million.
3. A $9.1 million loan relationship secured by an assisted living center located in Texas; the loan was placed on nonaccrual in the third quarter of 2025. This loan relationship is still under construction with $1.9 million remaining to be funded as of March 31, 2026.
4. A $5.7 million commercial lease loan for an automotive parts wholesaler; the loan was placed on nonaccrual and charged down $26.2 million in the fourth quarter of 2025. This lease loan was fully reserved and was classified as doubtful as of March 31, 2026.
5. 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.
6. A $1.4 million guaranteed loan secured by livestock and farmland located in Louisiana; the loan was placed in nonaccrual in the fourth quarter of 2024.
7. A $1.3 million loan secured by commercial real estate in Texas; the loan was placed on nonaccrual during the third quarter of 2024.
8. 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.
9. A $1.2 million loan secured by a mobile home park located in New Mexico; the loan was placed on nonaccrual during the third quarter of 2024.
10. A $1.0 million loan secured by a cattle farm located in Louisiana; the loan was placed on nonaccrual during the third quarter of 2025.

• First Guaranty charged off $5.4 million in loan balances during the first quarter of 2026. The details of the $5.4 million in charged-off loans were as follows:

1. First Guaranty charged off $1.8 million on a commercial and industrial loan during the first quarter of 2026. This relationship had no remaining principal balance as of March 31, 2026.
2. First Guaranty charged off $1.0 million on a non-farm non-residential loan relationship secured by retail real estate during the first quarter of 2026. This relationship had no remaining principal balance as of March 31, 2026.
3. Smaller loans and overdrawn deposit accounts comprised the remaining $2.6 million of charge-offs for the first quarter of 2026.

• Special mention loan relationships totaled $316.1 million as of March 31, 2026, a decline of $13.4 million compared to December 31, 2025.

• Substandard loan relationships totaled $300.9 million as of March 31, 2026, a decline of $46.7 million compared to December 31, 2025.

• Doubtful loan relationships totaled $5.7 million as of March 31, 2026, a decline of $3.7 million compared to December 31, 2025.

• Noninterest expense totaled $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), $17.3 million for the second quarter of 2025, and $18.0 million for the first quarter of 2025. Full time equivalent employees totaled 330 at March 31, 2026 compared to 380 at March 31, 2025.

• Return on average assets for the three months ended March 31, 2026 and 2025 was 0.27% and (0.63)%, respectively. Return on average common equity for the three months ended March 31, 2026 and 2025 was 4.52% and (12.29)% 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 $11.91 as of March 31, 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 first quarter of 2026 and 2025. The reduction in the common stock dividend payment was done in order to preserve capital as part of First Guaranty's new business strategy announced in the third quarter of 2024. First Guaranty has paid 131 consecutive quarterly dividends as of March 31, 2026.

• First Guaranty paid preferred stock dividends of $0.6 million during the first three months of 2026 and 2025.

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 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.