First Guaranty Bancshares (FGBI) has reported 6.17 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $3.16 million, or $0.42 a share in the quarter, compared with $3.37 million, or $0.45 a share for the same period last year.
Revenue during the quarter grew 3.78 percent to $12.90 million from $12.43 million in the previous year period. Net interest income for the quarter rose 1.39 percent over the prior year period to $12.20 million. Non-interest income for the quarter rose 3.18 percent over the last year period to $1.43 million.
First Guaranty Bancshares has made provision of $0.73 million for loan losses during the quarter, down 26.27 percent from $0.99 million in the same period last year.
Net interest margin improved 2 basis points to 3.43 percent in the quarter from 3.41 percent in the last year period.
Assets outpace liabilities growthTotal assets stood at $1,500.95 million as on Dec. 31, 2016, up 2.82 percent compared with $1,459.75 million on Dec. 31, 2015. On the other hand, total liabilities stood at $1,376.60 million as on Dec. 31, 2016, up 2.61 percent from $1,341.53 million on Dec. 31, 2015.
Loans outpace deposit growthNet loans stood at $937.81 million as on Dec. 31, 2016, up 12.69 percent compared with $832.17 million on Dec. 31, 2015. Deposits stood at $1,326.18 million as on Dec. 31, 2016, up 2.34 percent compared with $1,295.87 million on Dec. 31, 2015. Noninterest-bearing deposit liabilities were $231.09 million or 17.43 percent of total deposits on Dec. 31, 2016, compared with $213.20 million or 16.45 percent of total deposits on Dec. 31, 2015.
Investments stood at $499.34 million as on Dec. 31, 2016, down 8.57 percent or $46.78 million from year-ago. Shareholders equity stood at $124.35 million as on Dec. 31, 2016, up 5.18 percent or $6.12 million from year-ago.
Nonperforming assets stood at $22.21 million as on Dec. 31, 2016. Meanwhile, nonperforming assets to total assets was 1.48 percent in the quarter.
Book value per share was $16.34 for the quarter, up 5.15 percent or $0.80 compared to $15.54 for the same period last year.
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