First Guaranty Bancshares Reports Q2 2023 Net Income of $2.68 Million

First Guaranty Bancshares, Inc.(FGBIP) and its subsidiary have released thei r unaudited financial statements for the second quarter of 2023. The reports highlight the company's net income of $2.68 million for the quarter, along with a total revenue of $43.78 million. The company's financial performance during this period is outlined in detail below.

Net Income/loss Highlights

The company's net income for the second quarter of 2023 amounted to $2.68 million, showcasing a decrease from the previous quarter. This decrease is attributed to various factors, including changes in interest income and expense, provision for credit losses, and other operational costs. Despite this decline, the company's efforts to manage its expenses and improve operational efficiency continue to impact its net income positively.

Revenue Performance