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First Guaranty Bancshares swings to Q3 profit on Texas asset sale

By Reuters News


Overview

  • US bank holding company swung to Q3 net income of $12 mln vs. net loss of $45 mln a year ago

  • Company completed sale of Texas operations, contributing $17.6 mln pre-tax gain

  • Company reduced balance sheet size and improved capital ratios in Q3


Outlook

  • Company remains focused on reducing non-performing and adversely classified assets

  • Management continues to reduce wholesale funding and align assets with core deposits

  • Company expects to close sale of $11.4 mln non-performing asset in Q4 2026


Result Drivers

  • ASSET SALE - Sale of Texas operations contributed $17.6 mln pre-tax gain

  • BALANCE SHEET REDUCTION - Co reduced balance sheet size by prepaying FHLB advances and reducing deposits

  • CAPITAL RATIOS - Co improved Tier 1 leverage and total risk-based capital ratios in Q3


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

$0.69

Q3 Net Income

$12 mln


Analyst Coverage

  • The one available analyst rating on the shares is "hold"

  • The average consensus recommendation for the banks peer group is "hold"

  • Wall Street's median 12-month price target for First Guaranty Bancshares Inc is $9.00, about 3.3% above its October 26 closing price of $8.71

  • The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 19 three months ago


Reuters Recommended Reads

  • Oct 27 - National Bank Holdings posts Q3 loss on credit provisions

  • Oct 27 - First Community Bankshares Q3 net income rises 26%

  • Oct 27 - First Financial Bancorp Q3 EPS rises 11% to record


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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