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Loans
 12 Months Ended
Dec. 31, 2023
Receivables [Abstract]  
Loans Loans
The following table summarizes the components of First Guaranty's loan portfolio as of December 31, 2023 and December 31, 2022:

 December 31, 2023December 31, 2022
(in thousands except for %)BalanceAs % of CategoryBalanceAs % of Category
Real Estate:    
Construction & land development$399,435 14.5 %$233,091 9.2 %
Farmland32,530 1.2 %24,823 1.0 %
1- 4 Family444,850 16.1 %366,330 14.5 %
Multifamily118,921 4.3 %119,785 4.7 %
Non-farm non-residential1,045,865 37.9 %992,929 39.3 %
Total Real Estate2,041,601 74.0 %1,736,958 68.7 %
Non-Real Estate:    
Agricultural41,008 1.5 %39,045 1.5 %
Commercial and industrial(1)
334,972 12.1 %385,279 15.3 %
Commercial leases285,415 10.4 %317,574 12.6 %
Consumer and other54,485 2.0 %47,864 1.9 %
Total Non-Real Estate715,880 26.0 %789,762 31.3 %
Total Loans Before Unearned Income2,757,481 100.0 %2,526,720 100.0 %
Unearned income(8,773) (7,643) 
Total Loans Net of Unearned Income$2,748,708  $2,519,077  

(1) Includes PPP loans fully guaranteed by the SBA of $2.8 million and $5.9 million at December 31, 2023 and December 31, 2022, respectively.

Accrued interest receivable on First Guaranty's loans totaled $13.9 million and $11.0 million at December 31, 2023 and December 31, 2022, respectively, and is included in accrued interest receivable on the consolidated balance sheet. Accrued interest receivable is excluded from First Guaranty's estimate of the allowance for credit losses.

The following table summarizes fixed and floating rate loans by contractual maturity, excluding nonaccrual loans, as of December 31, 2023 and December 31, 2022 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.

 December 31, 2023December 31, 2022
(in thousands)FixedFloatingTotalFixedFloatingTotal
One year or less$268,864 $88,884 $357,748 $234,921 $137,203 $372,124 
One to five years782,754 357,981 1,140,735 900,960 339,894 1,240,854 
Five to 15 years88,490 269,918 358,408 114,425 216,251 330,676 
Over 15 years334,337 541,066 875,403 261,209 308,291 569,500 
Subtotal$1,474,445 $1,257,849 2,732,294 $1,511,515 $1,001,639 2,513,154 
Nonaccrual loans  25,187   13,566 
Total Loans Before Unearned Income  2,757,481   2,526,720 
Unearned income  (8,773)  (7,643)
Total Loans Net of Unearned Income  $2,748,708   $2,519,077 

Included in floating rate loans are loans that adjust to a floating rate following an initial fixed rate period. The initial fixed rate periods are typically one, three, or five years.
The following tables present the age analysis of past due loans at December 31, 2023 and December 31, 2022:

 As of December 31, 2023
(in thousands)30-89 Days Past Due90 Days or
Greater Past Due		Total Past DueCurrentTotal LoansRecorded Investment
90 Days Accruing
Real Estate:      
Construction & land development$1,281 $530 $1,811 $397,624 $399,435 $— 
Farmland97 836 933 31,597 32,530 — 
1- 4 family3,929 7,109 11,038 433,812 444,850 124 
Multifamily824 537 1,361 117,560 118,921 — 
Non-farm non-residential1,020 24,451 25,471 1,020,394 1,045,865 14,711 
Total Real Estate7,151 33,463 40,614 2,000,987 2,041,601 14,835 
Non-Real Estate:      
Agricultural240 1,426 1,666 39,342 41,008 57 
Commercial and industrial2,483 1,976 4,459 330,513 334,972 395 
Commercial leases— 1,799 1,799 283,616 285,415 — 
Consumer and other1,037 1,810 2,847 51,638 54,485 — 
Total Non-Real Estate3,760 7,011 10,771 705,109 715,880 452 
Total Loans Before Unearned Income$10,911 $40,474 $51,385 $2,706,096 2,757,481 $15,287 
Unearned income    (8,773) 
Total Loans Net of Unearned Income    $2,748,708  
 As of December 31, 2022
(in thousands)30-89 Days Past Due90 Days or
Greater Past Due		Total Past DueCurrentTotal LoansRecorded Investment
90 Days Accruing
Real Estate:      
Construction & land development$1,029 $652 $1,681 $231,410 $233,091 $427 
Farmland357 290 647 24,176 24,823 — 
1- 4 family4,512 4,158 8,670 357,660 366,330 332 
Multifamily874 157 1,031 118,754 119,785 157 
Non-farm non-residential1,133 3,849 4,982 987,947 992,929 103 
Total Real Estate7,905 9,106 17,011 1,719,947 1,736,958 1,019 
Non-Real Estate:      
Agricultural120 1,622 1,742 37,303 39,045 — 
Commercial and industrial1,369 942 2,311 382,968 385,279 123 
Commercial leases— 1,799 1,799 315,775 317,574 — 
Consumer and other1,997 1,239 3,236 44,628 47,864 — 
Total Non-Real Estate3,486 5,602 9,088 780,674 789,762 123 
Total Loans Before Unearned Income$11,391 $14,708 $26,099 $2,500,621 2,526,720 $1,142 
Unearned income    (7,643) 
Total Loans Net of Unearned Income    $2,519,077  

The tables above include $25.2 million and $13.6 million of nonaccrual loans for December 31, 2023 and 2022, respectively. See the tables below for more detail on nonaccrual loans.
The following is a summary of nonaccrual loans by class at the dates indicated:

As of December 31, 2023
(in thousands)With Related Allowance Without Related Allowance Total
Real Estate:
Construction & land development$530 $— $530 
Farmland511 325 836 
1 - 4 family5,417 1,568 6,985 
Multifamily— 537 537 
Non-farm non-residential8,730 1,010 9,740 
Total Real Estate15,188 3,440 18,628 
Non-Real Estate:
Agricultural399 970 1,369 
Commercial and industrial1,581 — 1,581 
Commercial leases— 1,799 1,799 
Consumer and other1,810 — 1,810 
Total Non-Real Estate3,790 2,769 6,559 
Total Nonaccrual Loans$18,978 $6,209 $25,187 

 
(in thousands)As of December 31, 2022
Real Estate: 
Construction & land development$225 
Farmland290 
1- 4 family3,826 
Multifamily— 
Non-farm non-residential3,746 
Total Real Estate8,087 
Non-Real Estate: 
Agricultural1,622 
Commercial and industrial819 
Commercial leases1,799 
Consumer and other1,239 
Total Non-Real Estate5,479 
Total Nonaccrual Loans$13,566 
The following table presents First Guaranty's loan portfolio by credit quality classification and origination year as of the date indicated:
 As of December 31, 2023
Term Loans by Origination Year
(in thousands)20232022202120202019PriorRevolving LoansTotal
Real Estate:        
Construction & land development:
   Pass $134,527 $140,068 $75,884 $3,369 $8,533 11,940 $18,907 $393,228 
   Special Mention789 1,579 170 — 90 250 — 2,878 
   Substandard— 716 458 263 94 1,668 — 3,199 
   Doubtful— 39 91 — — — — 130 
Total Construction & land development135,316 142,402 76,603 3,632 8,717 13,858 18,907 399,435 
Current period gross charge-offs— — — — — — — — 
Farmland
      Pass9,513 4,032 3,340 1,768 253 2,730 2,162 23,798 
      Special Mention— 194 — 514 — 359 — 1,067 
   Substandard— 251 1,369 3,877 115 653 1,355 7,620 
   Doubtful— — — — — — 45 45 
 Total Farmland9,513 4,477 4,709 6,159 368 3,742 3,562 32,530 
Current period gross charge-offs— — — — — — — — 
 1- 4 family
   Pass112,636 110,978 70,599 41,766 19,542 47,374 17,215 420,110 
      Special Mention
1,307 2,505 749 1,544 775 997 667 8,544 
      Substandard48 2,625 5,368 1,357 1,956 3,086 773 15,213 
      Doubtful— 122 391 — 239 159 72 983 
   Total 1- 4 family113,991 116,230 77,107 44,667 22,512 51,616 18,727 444,850 
  Current period gross charge-offs — — — — — 964 — 964 
   Multifamily
      Pass9,945 76,217 6,121 15,131 1,877 2,311 5,110 116,712 
      Special Mention— — — — — 1,648 24 1,672 
      Substandard— — — — — 537 — 537 
      Doubtful— — — — — — — — 
   Total Multifamily9,945 76,217 6,121 15,131 1,877 4,496 5,134 118,921 
  Current period gross charge-offs— — — — — — — — 
   Non-farm non-residential
      Pass162,234 247,182 111,054 88,039 73,797 256,032 33,907 972,245 
      Special Mention708 369 1,014 388 15,846 5,191 1,525 25,041 
      Substandard247 18,930 18,488 — — 6,125 4,723 48,513 
      Doubtful— — — 66 — — — 66 
   Total non-farm non-residential163,189 266,481 130,556 88,493 89,643 267,348 40,155 1,045,865 
  Current period gross charge-offs— — — 138 — — — 138 
Total Real Estate431,954 605,807 295,096 158,082 123,117 341,060 86,485 2,041,601 
Non-Real Estate:
   Agricultural
      Pass2,555 10,406 3,142 1,336 1,532 2,378 16,259 37,608 
      Special Mention— 104 — 81 — — 25 210 
      Substandard— — 692 279 20 2,100 57 3,148 
      Doubtful— — — — — 42 — 42 
   Total Agricultural2,555 10,510 3,834 1,696 1,552 4,520 16,341 41,008 
  Current period gross charge-offs— — — — — — — — 
   Commercial and industrial
      Pass41,105 27,800 48,097 53,585 5,613 27,634 119,886 323,720 
      Special Mention63 37 4,382 146 — 53 598 5,279 
      Substandard45 283 178 602 27 4,531 145 5,811 
      Doubtful— — — — — 162 — 162 
   Total Commercial and industrial41,213 28,120 52,657 54,333 5,640 32,380 120,629 334,972 
  Current period gross charge-offs29 791 133 532 — 209 — 1,694 
   Commercial leases
      Pass74,456 117,566 67,615 6,087 4,428 — — 270,152 
      Special Mention— 11,867 1,597 — — — — 13,464 
      Substandard— 1,799 — — — — — 1,799 
      Doubtful— — — — — — — — 
   Total Commercial leases74,456 131,232 69,212 6,087 4,428 — — 285,415 
  Current period gross charge-offs— — — — — — — — 
   Consumer and other loans
      Pass21,257 8,770 6,463 6,164 650 7,887 150 51,341 
      Special Mention36 151 255 87 15 19 — 563 
      Substandard164 1,077 790 265 86 68 — 2,450 
      Doubtful— — 34 79 2 16 — 131 
   Total Consumer and other loans21,457 9,998 7,542 6,595 753 7,990 150 54,485 
  Current period gross charge-offs598 1,126 820 359 28 44 — 2,975 
Total Non-Real Estate139,681 179,860 133,245 68,711 12,373 44,890 137,120 715,880 
   Total Loans
      Pass568,228 743,019 392,315 217,245 116,225 358,286 213,596 2,608,914 
      Special Mention2,903 16,806 8,167 2,760 16,726 8,517 2,839 58,718 
      Substandard504 25,681 27,343 6,643 2,298 18,768 7,053 88,290 
      Doubtful— 161 516 145 241 379 117 1,559 
Total Loans Before Unearned Income $571,635 $785,667 $428,341 $226,793 $135,490 $385,950 $223,605 $2,757,481 
Unearned income(8,773)
Total Loans Net of Unearned Income$2,748,708 
   Total Current Period Gross Charge-offs$627 $1,917 $953 $1,029 $28 $1,217 $— $5,771 
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 date indicated:
 As of December 31, 2022
(in thousands)PassSpecial MentionSubstandardDoubtfulTotal
Real Estate:     
Construction & land development$229,416 $2,846 $829 $— $233,091 
Farmland19,722 35 5,066 — 24,823 
1- 4 family347,842 8,667 9,821 — 366,330 
Multifamily117,081 444 2,260 — 119,785 
Non-farm non-residential968,861 15,071 8,997 — 992,929 
Total Real Estate1,682,922 27,063 26,973 — 1,736,958 
Non-Real Estate:     
Agricultural34,827 198 4,020 — 39,045 
Commercial and industrial374,947 2,016 8,316 — 385,279 
Commercial leases315,775 — 1,799 — 317,574 
Consumer and other45,225 1,031 1,608 — 47,864 
Total Non-Real Estate770,774 3,245 15,743 — 789,762 
Total Loans Before Unearned Income$2,453,696 $30,308 $42,716 $— 2,526,720 
Unearned income    (7,643)
Total Loans Net of Unearned Income    $2,519,077 

Purchased Credit Deteriorated Loans

As part of the acquisition of Union Bancshares, Inc. 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 December 31, 2022.

(in thousands)As of December 31, 2022
Real Estate:
Construction & land development$301 
Farmland— 
1- 4 family1,311 
Multifamily— 
Non-farm non-residential1,904 
Total Real Estate3,516 
Non-Real Estate:
Agricultural— 
Commercial and industrial742 
Commercial leases— 
Consumer and other— 
Total Non-Real Estate742 
Total$4,258