Revenue growth remains challenged with a 6.9% year-over-year decline in net interest income as of 2026Q1, compounded by persistent margin compression.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 |
|---|
| Net Interest Income | 85.41M | 86.94M | 88.44M | 84.7M | 100.04M | 89.62M | 74.67M | 61.68M | 57.02M | 53.15M | 48.39M | 47.47M | 44.09M | 39.75M | 42.08M | 39.49M | 38.17M | 32.35M | 31.78M | 34.08M | -2.15M |
| NII Growth % | -14.58% | -1.69% | 4.41% | -15.33% | 11.63% | 20.02% | 21.06% | 8.16% | 7.28% | 9.84% | 1.94% | 7.66% | 10.93% | -5.52% | 6.54% | 3.47% | 17.99% | 1.78% | -6.75% | 1684.47% | - |
| Net Interest Margin % | 2.16% | 2.13% | 2.23% | 2.38% | 3.17% | 3.11% | 3.02% | 2.91% | 3.14% | 3.04% | 3.22% | 3.25% | 2.9% | 2.77% | 2.99% | 2.92% | 3.37% | 3.48% | 3.65% | 4.22% | -0.3% |
| Interest Income | 211.09M | 213.28M | 221.71M | 183.01M | 136.58M | 111.92M | 100.68M | 91.64M | 78.39M | 67.55M | 58.53M | 56.08M | 53.3M | 50.89M | 55.2M | 54.61M | 51.39M | 47.19M | 47.66M | 55.48M | 0 |
| Interest Expense | 125.68M | 126.34M | 133.27M | 98.3M | 36.53M | 22.3M | 26.02M | 29.97M | 21.37M | 14.39M | 10.14M | 8.61M | 9.2M | 11.13M | 13.12M | 15.12M | 13.22M | 14.84M | 15.73M | 21.4M | 2.15M |
| Loan Loss Provision | 67.18M | 81.73M | 20.03M | 3.71M | 3.66M | 2.06M | 14.88M | 4.86M | 1.35M | 3.82M | 3.71M | 3.86M | 1.96M | 2.52M | 4.13M | 10.19M | 5.65M | 4.16M | 1.78M | 1.92M | 53.15M |
| Non-Interest Income | 5.23M | -17.32M | 23.07M | 8.77M | 9.26M | 9M | 22.45M | 7.08M | 4.07M | 7.18M | 8.41M | 7.93M | 5.05M | 7.48M | 11.25M | 9.61M | 8.6M | 7.96M | 5.69M | 4.7M | 55.3M |
| Non-Interest Income % | 2.42% | -8.84% | 9.43% | 4.57% | 6.35% | 7.44% | 18.23% | 7.17% | 4.93% | 9.61% | 12.56% | 12.39% | 8.66% | 12.81% | 16.93% | 14.96% | 14.34% | 14.44% | 10.66% | 7.81% | 100% |
| Total Revenue | 216.32M | 195.96M | 244.78M | 191.78M | 145.84M | 120.92M | 123.13M | 98.72M | 82.46M | 74.72M | 66.94M | 64.01M | 58.35M | 58.36M | 66.44M | 64.22M | 59.99M | 55.16M | 53.35M | 60.18M | 55.3M |
| Revenue Growth % | -47.71% | -19.95% | 27.63% | 31.51% | 20.61% | -1.8% | 24.72% | 19.73% | 10.35% | 11.62% | 4.58% | 9.7% | -0.02% | -12.16% | 3.47% | 7.04% | 8.77% | 3.39% | -11.35% | 8.81% | - |
| Non-Interest Expense | 82.69M | 56.45M | 75.47M | 77.87M | 69.25M | 62.11M | 56.7M | 46M | 42.06M | 37.36M | 31.84M | 30.07M | 30.47M | 30.99M | 31.27M | 27.16M | 25.86M | 24.84M | 27.85M | 21.13M | 7.52M |
| Efficiency Ratio | 38.23% | 28.81% | 30.83% | 40.6% | 47.49% | 51.36% | 46.05% | 46.6% | 51.01% | 50% | 47.56% | 46.98% | 52.22% | 53.09% | 47.06% | 42.29% | 43.11% | 45.03% | 52.21% | 35.12% | 13.6% |
| Operating Income | -59.24M | -68.56M | 16.01M | 11.9M | 36.39M | 34.45M | 25.54M | 17.9M | 17.68M | 19.15M | 21.26M | 21.47M | 16.72M | 13.72M | 17.92M | 11.76M | 15.25M | 11.32M | 7.98M | 15.73M | 13.31M |
| Operating Margin % | -27.38% | -34.99% | 6.54% | 6.2% | 24.95% | 28.49% | 20.74% | 18.13% | 21.44% | 25.63% | 31.75% | 33.54% | 28.65% | 23.51% | 26.97% | 18.31% | 25.42% | 20.53% | 14.96% | 26.14% | 24.06% |
| Operating Income Growth % | - | -528.34% | 34.55% | -67.31% | 5.62% | 34.92% | 42.69% | 1.26% | -7.7% | -9.91% | -0.98% | 28.43% | 21.81% | -23.42% | 52.43% | -22.92% | 34.71% | 41.83% | -49.25% | 18.21% | - |
| Pretax Income | -57.03M | -68.56M | 16.01M | 11.9M | 36.39M | 34.45M | 25.54M | 17.9M | 17.68M | 19.15M | 21.26M | 21.47M | 16.72M | 13.72M | 17.92M | 11.76M | 15.25M | 11.32M | 7.98M | 15.73M | 13.31M |
| Pretax Margin % | -26.36% | -34.99% | 6.54% | 6.2% | 24.95% | 28.49% | 20.74% | 18.13% | 21.44% | 25.63% | 31.75% | 33.54% | 28.65% | 23.51% | 26.97% | 18.31% | 25.42% | 20.53% | 14.96% | 26.14% | 24.06% |
| Income Tax | -9.92M | -12.54M | 3.56M | 2.68M | 7.51M | 7.16M | 5.22M | 3.66M | 3.46M | 7.4M | 7.16M | 6.96M | 5.49M | 4.58M | 5.86M | 3.72M | 5.23M | 3.73M | 2.47M | 5.47M | 4.5M |
| Effective Tax Rate % | 17.39% | 18.29% | 22.23% | 22.5% | 20.63% | 20.77% | 20.44% | 20.43% | 19.59% | 38.64% | 33.7% | 32.43% | 32.85% | 33.35% | 32.71% | 31.67% | 34.27% | 32.91% | 30.94% | 34.75% | 33.85% |
| Net Income | -47.11M | -56.02M | 12.45M | 9.22M | 28.88M | 27.3M | 20.32M | 14.24M | 14.21M | 11.75M | 14.09M | 14.51M | 11.22M | 9.15M | 12.06M | 8.03M | 10.03M | 7.59M | 5.51M | 10.26M | 8.8M |
| Net Margin % | -21.78% | -28.59% | 5.09% | 4.81% | 19.81% | 22.57% | 16.5% | 14.42% | 17.24% | 15.73% | 21.05% | 22.66% | 19.23% | 15.67% | 18.15% | 12.51% | 16.71% | 13.77% | 10.33% | 17.05% | 15.92% |
| Net Income Growth % | -1286.13% | -550.05% | 35.03% | -68.08% | 5.81% | 34.35% | 42.67% | 0.2% | 20.95% | -16.62% | -2.84% | 29.23% | 22.72% | -24.16% | 50.12% | -19.87% | 31.99% | 37.79% | -46.29% | 16.6% | - |
| Net Income (Continuing) | -47.11M | -56.02M | 12.45M | 9.22M | 28.88M | 27.3M | 20.32M | 14.24M | 14.21M | 11.75M | 14.09M | 14.51M | 11.22M | 9.15M | 12.06M | 8.03M | 10.03M | 7.59M | 5.51M | 10.26M | 8.8M |
| EPS (Diluted) | -2.98 | -4.17 | 0.81 | 0.62 | 2.48 | 2.42 | 1.90 | 1.34 | 1.33 | 1.13 | 1.39 | 1.51 | 1.18 | 0.92 | 1.09 | 0.61 | 0.97 | 0.78 | 0.61 | 1.15 | 0.98 |
| EPS Growth % | -2603.73% | -614.81% | 30.65% | -75% | 2.48% | 27.37% | 41.79% | 0.75% | 17.7% | -18.7% | -7.95% | 27.97% | 28.26% | -15.6% | 78.69% | -37.11% | 24.36% | 27.87% | -46.96% | 17.35% | - |
| EPS (Basic) | - | -4.17 | 0.81 | 0.62 | 2.48 | 2.42 | 1.90 | 1.34 | 1.33 | 1.13 | 1.39 | 1.51 | 1.18 | 0.92 | 1.09 | 0.61 | 0.97 | 0.78 | 0.61 | 1.15 | 0.98 |
| Diluted Shares Outstanding | 15.8M | 13.99M | 12.5M | 11.16M | 10.72M | 10.72M | 10.71M | 10.66M | 10.66M | 10.42M | 10.13M | 9.34M | 9.21M | 9.21M | 9.21M | 9.99M | 8.95M | 8.95M | 8.95M | 8.95M | 8.95M |
Asset quality and margin compression
As reported in recent financial statements, FGBI's net interest income has struggled to maintain momentum, recording a 6.9% year-over-year decline in 2026Q1, which highlights the bank's inability to effectively pass through rising funding costs to its loan portfolio in the current interest rate environment.
The persistent inability to grow NII suggests that the bank's asset-liability management is currently misaligned with market rate cycles. Investors should monitor whether the bank's reliance on municipal deposits is creating a funding cost floor that prevents margin expansion even as loan yields adjust.
Based on the provided quarterly data, the net interest margin has remained stagnant at 0.5% to 0.6% over the last ten quarters, indicating that the bank is failing to capture the spread necessary to cover its operational overhead and credit provisioning requirements.
This compressed margin profile appears to be a structural issue rather than a temporary anomaly, suggesting that the bank's cost of funds is consistently eroding the yield on its earning assets. The lack of margin expansion in a high-rate environment warrants further investigation into the bank's deposit beta and asset repricing capabilities.
According to the bank's income statement filings, the massive $47.9 million provision for credit losses in 2025Q3 represents a significant outlier that severely impacted profitability, suggesting that the bank's loan book may be harboring latent credit risks within its commercial real estate and C&I segments.
The extreme volatility in provision expenses implies that the bank's credit risk management may be reactive rather than proactive. Analysts should scrutinize the underlying asset quality of the non-farm non-residential loan portfolio to determine if further provisioning spikes are likely in the coming quarters.
As evidenced by the fluctuating efficiency ratio, which reached a high of 54.2% in 2025Q3, FGBI's operating leverage appears constrained by a high fixed-cost base that does not scale effectively with the bank's current, declining revenue trajectory across its multi-state branch network.
The inability to maintain a stable efficiency ratio suggests that the bank's geographic expansion strategy has yet to achieve the necessary economies of scale. This operational drag, combined with negative net income in several recent periods, indicates that the bank's current business model may be fundamentally unsustainable without significant cost rationalization.
Quick answers to the most common questions about buying FGBI stock.
First Guaranty Bancshares, Inc. (FGBI) reported a net loss of $56.0M for the fiscal year ending 2025.
First Guaranty Bancshares, Inc. (FGBI) reported an operating income of $-68.6M, resulting in an operating profit margin of -35.0%. This margin reflects the operational efficiency of the business before interest and taxes.
First Guaranty Bancshares, Inc. (FGBI) generated $-12.1M in gross profit for the year, representing a gross profit margin of -6.2%. This demonstrates the company's core pricing power and production efficiency.