Condensed Parent Company Information (Tables)

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Balance Sheets

First Guaranty Bancshares, Inc.

Condensed Balance Sheets

	December 31,
(in thousands)	2021		2020
Assets
Cash	$	5,143	$	1,796
Investment in bank subsidiary	255,291		228,869
Other assets	3,893		5,665
Total Assets	$	264,327	$	236,330
Liabilities and Shareholders' Equity
Senior long-term debt	25,170		42,366
Junior subordinated debentures	14,818		14,777
Other liabilities	450		596
Total Liabilities	40,438		57,739
Shareholders' Equity	223,889		178,591
Total Liabilities and Shareholders' Equity	$	264,327	$	236,330

Schedule of Condensed Statements of Income

First Guaranty Bancshares, Inc.

Condensed Statements of Income

	December 31,
(in thousands)	2021		2020		2019
Operating Income
Dividends received from bank subsidiary	$	20,733	$	17,100	$	13,982
Net gains on sale of equity securities	—		—		196
Other income	414		332		424
Total operating income	21,147		17,432		14,602
Operating Expenses
Interest expense	1,624		2,197		1,795
Salaries & Benefits	198		132		208
Other expenses	1,298		1,225		953
Total operating expenses	3,120		3,554		2,956
Income before income tax benefit and increase in equity in undistributed earnings of subsidiary	18,027		13,878		11,646
Income tax benefit	568		720		494
Income before increase in equity in undistributed earnings of subsidiary	18,595		14,598		12,140
Increase in equity in undistributed earnings of subsidiary	8,702		5,720		2,101
Net Income	$	27,297	$	20,318	$	14,241

Schedule of Condensed Statements of Cash Flows

First Guaranty Bancshares, Inc.

Condensed Statements of Cash Flows

	December 31,
(in thousands)	2021		2020		2019
Cash flows from operating activities:
Net income	$	27,297	$	20,318	$	14,241
Adjustments to reconcile net income to net cash provided by operating activities:
Increase in equity in undistributed earnings of subsidiary	(8,702)		(5,720)		(2,101)
Depreciation and amortization	102		92		80
Gain on sale of securities	—		—		(196)
Net change in other liabilities	(145)		189		(444)
Net change in other assets	1,235		(1,301)		(601)
Net cash provided by operating activities	19,787		13,578		10,979
Cash flows from investing activities:
Proceeds from sales of equity securities	1,500		10		1,196
Funds invested in equity securities	(1,000)		—		—
Funds invested in bank subsidiary	(25,000)		—		—
Purchases of premises and equipment	—		—		(136)
Cash paid in acquisition	—		—		(43,383)
Net cash (used in) provided by investing activities	(24,500)		10		(42,323)
Cash flows from financing activities:
Proceeds from long-term debt, net of costs	—		—		32,465
Repayment of long-term debt	(17,221)		(6,191)		(3,754)
Net proceeds from issuance of preferred stock	33,058		—		—
Common stock issued in private placement	—		—		1,000
Dividends paid	(7,777)		(6,234)		(5,803)
Net cash provided by (used in) financing activities	8,060		(12,425)		23,908
Net increase (decrease) in cash and cash equivalents	3,347		1,163		(7,436)
Cash and cash equivalents at the beginning of the period	1,796		633		8,069
Cash and cash equivalents at the end of the period	$	5,143	$	1,796	$	633