First Guaranty Bancshares Reports Q1 2023 Net Income of $3.47 Million

First Guaranty Bancshares, Inc.(FGBIP) and its subsidiary have released thei r unaudited consolidated financial statements for the first quarter of 2023. The report highlights a net income of $3.47 million and a total revenue of $41.29 million during the period. The company's financial performance is examined in detail through the Consolidated Balance Sheets, Consolidated Statements of Income, and other essential financial statements.

Consolidated Balance Sheets

Assets

The company's total assets as of March 31, 2023, reached $3.24 billion, showing a positive growth trend from the previous quarter's $3.15 billion. Cash and cash equivalents increased significantly, reaching $168.94 million from the previous $83.22 million. Investment securities saw a decrease in value, from $451.53 million to $401.31 million. Notably, net loans also increased from $2.50 billion to $2.54 billion.