Recent Accounting Pronouncements (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Standards Update and Change in Accounting Principle [Abstract]

Schedule of Accounting Standards Update and Change in Accounting Principle

First Guaranty adopted ASU 2016-13 on January 1, 2023, and recorded a one-time, cumulative effect adjustment as shown in the table below (dollars in thousands).

	December 31, 2022		Impact of ASU 2016-13 Adoption		January 1, 2023
Assets:
Allowance for credit losses	$	(23,518)	$	(8,220)	$	(31,738)
Deferred tax asset	6,420		2,100		8,520
Remaining purchase discount on loans	(1,120)		1,120		—
Liabilities:
Reserve for unfunded loan commitments	—		(2,900)		(2,900)
Stockholders’ Equity
Retained earnings	76,351		(7,900)		68,451