
	June 30, 2026								December 31, 2025
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available for sale:
U.S. Treasuries	$	49,539	$	—	$	(32)	$	49,507	$	98,123	$	26	$	—	$	98,149

Corporate debt securities	5,000		—		(87)		4,913		6,500		—		(51)		6,449
Municipal bonds	16,005		64		(890)		15,179		21,211		218		(373)		21,056
Collateralized mortgage obligations	568,188		104		(7,888)		560,404		301,685		1,232		(336)		302,581
Mortgage-backed securities	263,130		279		(2,654)		260,755		246,620		2,085		(348)		248,357
Total available for sale securities	$	901,862	$	447	$	(11,551)	$	890,758	$	674,139	$	3,561	$	(1,108)	$	676,592

Held to maturity:
U.S. Government Agencies	$	268,059	$	—	$	(54,498)	$	213,561	$	267,626	$	—	$	(51,627)	$	215,999
Corporate debt securities	55,294		4		(3,565)		51,733		55,199		8		(3,112)		52,095
Total held to maturity securities	$	323,353	$	4	$	(58,063)	$	265,294	$	322,825	$	8	$	(54,739)	$	268,094

The scheduled maturities of securities at June 30, 2026, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities due to calls or prepayments. Mortgage-backed securities are not due at a single maturity because of amortization and potential prepayment of the underlying mortgages. For this reason, they are presented separately in the maturity table below:


	At June 30, 2026
(in thousands)	Amortized Cost		Fair Value
Available for sale:
Due in one year or less	$	50,748	$	50,710
Due after one year through five years	8,355		8,189
Due after five years through 10 years	8,653		8,023
Over 10 years	2,788		2,677
Subtotal	70,544		69,599
Collateralized mortgage obligations	568,188		560,404
Mortgage-backed securities	263,130		260,755
Total available for sale securities	$	901,862	$	890,758

Held to maturity:
Due in one year or less	$	—	$	—
Due after one year through five years	67,350		62,186
Due after five years through 10 years	140,237		120,798
Over 10 years	115,766		82,310
Total held to maturity securities	$	323,353	$	265,294

At June 30, 2026, $779.7 million of First Guaranty's securities were pledged to secure public funds deposits and borrowings. The pledged securities had a market value of $728.1 million as of June 30, 2026.

Accrued interest receivable on First Guaranty's investment securities was $4.0 million and $3.0 million at June 30, 2026 and December 31, 2025, respectively, and was included in accrued interest receivable on the consolidated balance sheet. First Guaranty had a $0.2 million allowance for credit losses related to the held to maturity portfolio at June 30, 2026 and December 31, 2025.


						At June 30, 2026
	Less Than 12 Months					12 Months or More					Total
(in thousands)	Number of Securities	Fair Value		Gross Unrealized Losses		Number of Securities	Fair Value		Gross Unrealized Losses		Number of Securities	Fair Value		Gross Unrealized Losses
Available for sale:
U.S. Treasuries	4	$	49,507	$	(32)	—	$	—	$	—	4	$	49,507	$	(32)
Corporate debt securities	2	1,983		(17)		3	2,930		(70)		5	4,913		(87)
Municipal bonds	41	7,149		(211)		25	5,720		(679)		66	12,869		(890)
Collateralized mortgage obligations	109	519,960		(7,888)		—	—		—		109	519,960		(7,888)
Mortgage-backed securities	56	176,580		(2,286)		6	11,690		(368)		62	188,270		(2,654)
Total available for sale securities	212	$	755,179	$	(10,434)	34	$	20,340	$	(1,117)	246	$	775,519	$	(11,551)

Held to maturity:
U.S. Government Agencies	—	$	—	$	—	29	$	213,561	$	(54,498)	29	$	213,561	$	(54,498)
Corporate debt securities	2	1,798		(148)		54	49,617		(3,417)		56	51,415		(3,565)
Total held to maturity securities	2	$	1,798	$	(148)	83	$	263,178	$	(57,915)	85	$	264,976	$	(58,063)


						At December 31, 2025
	Less Than 12 Months					12 Months or More					Total
(in thousands)	Number of Securities	Fair Value		Gross Unrealized Losses		Number of Securities	Fair Value		Gross Unrealized Losses		Number of Securities	Fair Value		Gross Unrealized Losses
Available for sale:
U.S. Treasuries	2	$	19,646	$	—	—	$	—	$	—	2	$	19,646	$	—

Corporate debt securities	2	1,989		(11)		4	3,460		(40)		6	5,449		(51)
Municipal bonds	—	—		—		28	6,261		(373)		28	6,261		(373)
Collateralized mortgage obligations	31	137,608		(336)		—	—		—		31	137,608		(336)
Mortgage-backed securities	14	40,812		(130)		10	27,421		(218)		24	68,233		(348)
Total available for sale securities	49	$	200,055	$	(477)	42	$	37,142	$	(631)	91	$	237,197	$	(1,108)

Held to maturity:
U.S. Government Agencies	—	$	—	$	—	29	$	215,999	$	(51,627)	29	$	215,999	$	(51,627)
Corporate debt securities	2	1,805		(136)		54	49,965		(2,976)		56	51,770		(3,112)
Total held to maturity securities	2	$	1,805	$	(136)	83	$	265,964	$	(54,603)	85	$	267,769	$	(54,739)

As of June 30, 2026, 331 of First Guaranty's debt securities had unrealized losses totaling 6.3% of the individual securities' amortized cost basis and 5.7% of First Guaranty's total amortized cost basis of the investment securities portfolio. 117 of the 331 securities had been in a continuous loss position for over 12 months at such date. The 117 securities had an aggregate amortized cost basis of $342.6 million and an unrealized loss of $59.0 million at June 30, 2026. Management has the intent and ability to hold these debt securities until maturity or until anticipated recovery.

Securities are evaluated for impairment from credit losses at least quarterly and more frequently when economic or market conditions warrant such evaluation. Consideration is given to (i) the extent to which the fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer, (iii) the recovery of contractual principal and interest and (iv) the intent and ability of First Guaranty to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value.

Investment securities issued by the U.S. Government and Government sponsored enterprises with unrealized losses and the amount of unrealized losses on those investment securities that are the result of changes in market interest rates will not be credit impaired. First Guaranty has the ability and intent to hold these securities until recovery, which may not be until maturity.

Corporate debt securities in a loss position consist primarily of corporate bonds issued by businesses in the financial, insurance, utility, manufacturing, industrial, consumer products and oil and gas industries. There were no held to maturity corporate securities with a credit related impairment loss as of June 30, 2026. First Guaranty believes that the remaining issuers will be able to fulfill the obligations of these securities based on evaluations described above. First Guaranty has the ability and intent to hold these securities until they recover, which could be at their maturity dates.

There were no charge-offs recognized on securities during the six months ended June 30, 2026 and 2025. There were no provisions for credit losses recognized on securities during the six months ended June 30, 2026 and 2025.

For securities that have indications of credit related impairment, management analyzes future expected cash flows to determine if any credit related impairment is evident. Estimated cash flows are determined using management's best estimate of future cash flows based on specific assumptions. The assumptions used to determine the cash flows were based on estimates of loss severity and credit default probabilities. Management reviews reports from credit rating agencies and public filings of issuers.


	At June 30, 2026
(in thousands)	Amortized Cost		Fair Value
U.S. Government Treasuries (U.S.)	$	49,539	$	49,507
Federal Home Loan Bank (FHLB)	32,460		27,084
Federal Home Loan Mortgage Corporation (Freddie Mac-FHLMC)	101,917		76,433

Federal Farm Credit Bank (FFCB)	139,962		116,202
Government National Mortgage Association (Ginnie Mae-GNMA)	822,829		812,776
Total	$	1,146,707	$	1,082,002