Material weakness
high
Filing comparison
First Guaranty Bancshares, Inc. reported a material weakness in internal control
Internal control reported effective → Material weakness in internal control
As previously reported in Part I, Item 4 of our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, management identified a material weakness in our internal control over financial reporting. Management determined that First Guaranty did not effectively perform controls on a timely basis relating to the loan operations quality control review function for new loans originated during the period. Several remediation steps were taken which included new leadership, additional staff, and enhanced…
Evidence
- Current state
- material_weakness
- Current state label
- Material weakness in internal control
- Direction
- newly reported
- Prior filed
- 2025-03-17
- Prior form
- 10-K
- Prior state
- effective
- Prior state label
- Internal control reported effective
- Remediation stated
- No
- Severity
- high
- Source
- Item 9A internal control conclusion, compared with the prior filing
- Why
- The company's conclusion on internal control over financial reporting changed: a material weakness was newly reported, or a previously reported one no longer appears.