Loans (Tables)

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Summary of Components of Loan Portfolio

The following table summarizes the components of First Guaranty's loan portfolio as of March 31, 2020 and December 31, 2019: 

	March 31, 2020				December 31, 2019
(in thousands except for %)	Balance		As % of Category		Balance		As % of Category
Real Estate:
Construction & land development	$	125,201	8.1	%	$	172,247	11.3	%
Farmland	21,840		1.4	%	22,741		1.5	%
1- 4 Family	286,157		18.5	%	289,635		18.9	%
Multifamily	27,948		1.8	%	23,973		1.6	%
Non-farm non-residential	654,081		42.3	%	616,536		40.3	%
Total Real Estate	1,115,227		72.1	%	1,125,132		73.6	%
Non-Real Estate:
Agricultural	25,320		1.6	%	26,710		1.8	%
Commercial and industrial	298,185		19.3	%	268,256		17.5	%
Consumer and other	108,922		7.0	%	108,868		7.1	%
Total Non-Real Estate	432,427		27.9	%	403,834		26.4	%
Total Loans Before Unearned Income	1,547,654		100.0	%	1,528,966		100.0	%
Unearned income	(3,522)				(3,476)
Total Loans Net of Unearned Income	$	1,544,132			$	1,525,490

Summary of Fixed and Floating Rate Loans by Contractual Maturity, Excluding Nonaccrual Loans

The following table summarizes fixed and floating rate loans by contractual maturity, excluding nonaccrual loans, as of March 31, 2020 and December 31, 2019 unadjusted for scheduled principal payments, prepayments, or repricing opportunities. The average life of the loan portfolio may be substantially less than the contractual terms when these adjustments are considered. 

	March 31, 2020						December 31, 2019
(in thousands)	Fixed		Floating		Total		Fixed		Floating		Total
One year or less	$	187,994	$	113,308	$	301,302	$	205,596	$	104,859	$	310,455
More than one to five years	505,679		323,462		829,141		509,455		286,131		795,586
More than five to 15 years	133,002		63,398		196,400		147,502		65,713		213,215
Over 15 years	137,443		67,462		204,905		143,695		51,612		195,307
Subtotal	$	964,118	$	567,630	1,531,748		$	1,006,248	$	508,315	1,514,563
Nonaccrual loans					15,906						14,403
Total Loans Before Unearned Income					1,547,654						1,528,966
Unearned income					(3,522)						(3,476)
Total Loans Net of Unearned Income					$	1,544,132					$	1,525,490

Past due Financing Receivables

The following tables present the age analysis of past due loans at March 31, 2020 and December 31, 2019: 

	As of March 31, 2020
(in thousands)	30-89 Days Past Due		90 Days or Greater		Total Past Due		Current		Total Loans		Recorded Investment 90 Days Accruing
Real Estate:
Construction & land development	$	3,437	$	1,315	$	4,752	$	120,449	$	125,201	$	414
Farmland	1,832		855		2,687		19,153		21,840		—
1- 4 family	6,624		5,550		12,174		273,983		286,157		1,203
Multifamily	—		—		—		27,948		27,948		—
Non-farm non-residential	12,478		9,694		22,172		631,909		654,081		5,056
Total Real Estate	24,371		17,414		41,785		1,073,442		1,115,227		6,673
Non-Real Estate:
Agricultural	1,149		4,526		5,675		19,645		25,320		46
Commercial and industrial	1,283		551		1,834		296,351		298,185		139
Consumer and other	1,485		331		1,816		107,106		108,922		58
Total Non-Real Estate	3,917		5,408		9,325		423,102		432,427		243
Total Loans Before Unearned Income	$	28,288	$	22,822	$	51,110	$	1,496,544	$	1,547,654	$	6,916
Unearned income									(3,522)
Total Loans Net of Unearned Income									$	1,544,132

	As of December 31, 2019
(in thousands)	30-89 Days Past Due		90 Days or Greater		Total Past Due		Current		Total Loans		Recorded Investment 90 Days Accruing
Real Estate:
Construction & land development	$	760	$	429	$	1,189	$	171,058	$	172,247	$	48
Farmland	6		1,274		1,280		21,461		22,741		—
1- 4 family	8,521		3,682		12,203		277,432		289,635		923
Multifamily	—		—		—		23,973		23,973		—
Non-farm non-residential	11,279		6,249		17,528		599,008		616,536		1,603
Total Real Estate	20,566		11,634		32,200		1,092,932		1,125,132		2,574
Non-Real Estate:
Agricultural	310		4,800		5,110		21,600		26,710		—
Commercial and industrial	2,801		342		3,143		265,113		268,256		15
Consumer and other	794		266		1,060		107,808		108,868		50
Total Non-Real Estate	3,905		5,408		9,313		394,521		403,834		65
Total Loans Before Unearned Income	$	24,471	$	17,042	$	41,513	$	1,487,453	$	1,528,966	$	2,639
Unearned income									(3,476)
Total Loans Net of Unearned Income									$	1,525,490

Summary of Nonaccrual Loans by Class

The following is a summary of nonaccrual loans by class at the dates indicated: 

(in thousands)	As of March 31, 2020		As of December 31, 2019
Real Estate:
Construction & land development	$	901	$	381
Farmland	855		1,274
1- 4 family	4,347		2,759
Multifamily	—		—
Non-farm non-residential	4,638		4,646
Total Real Estate	10,741		9,060
Non-Real Estate:
Agricultural	4,480		4,800
Commercial and industrial	412		327
Consumer and other	273		216
Total Non-Real Estate	5,165		5,343
Total Nonaccrual Loans	$	15,906	$	14,403

Credit Exposure of Loan Portfolio, Including Loans Acquired with Deteriorated Credit Quality, by Specific Credit Ratings

The following table identifies the credit exposure of the loan portfolio, including loans acquired with deteriorated credit quality, by specific credit ratings as of the dates indicated:

	As of March 31, 2020										As of December 31, 2019
(in thousands)	Pass		Special Mention		Substandard		Doubtful		Total		Pass		Special Mention		Substandard		Doubtful		Total
Real Estate:
Construction & land development	$	116,288	$	5,832	$	3,081	$	—	$	125,201	$	163,808	$	6,180	$	2,259	$	—	$	172,247
Farmland	17,597		3,353		890		—		21,840		18,223		3,177		1,341		—		22,741
1- 4 family	267,109		5,603		13,248		197		286,157		271,392		4,751		13,492		—		289,635
Multifamily	19,969		—		7,979		—		27,948		16,025		805		7,143		—		23,973
Non-farm non-residential	624,596		8,906		20,579		—		654,081		589,800		7,743		18,993		—		616,536
Total Real Estate	1,045,559		23,694		45,777		197		1,115,227		1,059,248		22,656		43,228		—		1,125,132
Non-Real Estate:
Agricultural	19,898		620		4,802		—		25,320		21,529		48		5,133		—		26,710
Commercial and industrial	293,277		908		4,000		—		298,185		262,416		1,199		4,641		—		268,256
Consumer and other	108,458		288		175		1		108,922		108,618		180		70		—		108,868
Total Non-Real Estate	421,633		1,816		8,977		1		432,427		392,563		1,427		9,844		—		403,834
Total Loans Before Unearned Income	$	1,467,192	$	25,510	$	54,754	$	198	1,547,654		$	1,451,811	$	24,083	$	53,072	$	—	1,528,966
Unearned income									(3,522)										(3,476)
Total Loans Net of Unearned Income									$	1,544,132									$	1,525,490

Carrying Amount of Purchased Impaired Loans

As part of the acquisition of Union Bancshares, Incorporated on November 7, 2019 and Premier Bancshares, Inc. on June 16, 2017, First Guaranty purchased credit impaired loans for which there was, at acquisition, evidence of deterioration of credit quality since their origination and it was probable, at acquisition, that all contractually required payments would not be collected. The carrying amount of those loans is as follows at March 31, 2020 and December 31, 2019.

(in thousands)	As of March 31, 2020		As of December 31, 2019
Real Estate:
Construction & land development	$	415	$	526
Farmland	—		—
1- 4 family	5,455		6,402
Multifamily	869		—
Non-farm non-residential	2,416		2,294
Total Real Estate	9,155		9,222
Non-Real Estate:
Agricultural	—		—
Commercial and industrial	1,169		1,198
Consumer and other	4		—
Total Non-Real Estate	1,173		1,198
Total	$	10,328	$	10,420

Accretable Yield, or Income Expected to be Collected, on Purchased Loans

The accretable yield, or income expected to be collected, on the purchased loans above is as follows for the three months ended March 31, 2020 and 2019.

(in thousands)	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Balance, beginning of period	$	3,647	$	613
Acquisition accretable yield	30		—
Accretion	(349)		(50)
Net transfers from nonaccretable difference to accretable yield	—		—
Balance, end of period	$	3,328	$	563