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The First Bancshares, Inc. (FBMS) is a prominent national banking association headquartered in Hattiesburg, Mississippi. Incorporated on June 23, 1995, and commencing operations on August 5, 1996, the company has significantly expanded its footprint in the banking sector. As the parent company of The First, a national banking association, it has grown through strategic acquisitions like the First National Bank of Wiggins in 2006, eight Whitney Bank branches in 2011, and Bay Bank in Mobile, Alabama in 2014. Today, The First Bancshares, Inc. boasts 30 offices across South Mississippi, Louisiana, and South Alabama.
The core business of The First Bancshares, Inc. focuses on providing a variety of banking products and services. These include deposit accounts such as checking, savings, and time deposits for individuals, businesses, associations, organizations, and governmental authorities. The company also offers a range of lending options including secured and unsecured commercial and personal loans, consumer loans, business expansion loans, equipment and machinery purchase loans, and residential mortgage loans.
In addition to traditional banking services, The First Bancshares, Inc. provides financial and wealth management services, online internet banking, voice response telephone inquiry, safe deposit boxes, traveler's checks, and mobile deposit services. The company operates in three main segments: Commercial/Retail Banking, Mortgage Banking, and Holding Company.
The First Bancshares, Inc. continues to innovate and adapt to the evolving banking needs of its customers, ensuring a robust financial condition and strategic partnerships that enhance its service offerings. Recent achievements include notable expansions and a solid track record of successful integrations, which underpin its reputation as a reliable and forward-thinking financial institution.
The First Bancshares, Inc. (FBMS) reported a steady net income of $16.3 million for Q1 2023, unchanged from Q4 2022. However, operating net earnings surged 57.8%, reaching $27.1 million, bolstered by recent acquisitions of Heritage Southeast Bancorporation and Beach Bank. Total loans grew by 1.0% excluding acquired loans, totaling $4.970 billion, while total deposits increased by 21.4% to $6.668 billion. The net interest margin improved to 3.63% from 3.31% in the previous quarter. The company declared a cash dividend of $0.22 per share, a 5% increase, payable on May 24, 2023. Despite rising provisions for credit losses at $11.0 million, FBMS remains optimistic about growth in new markets and strong operating returns from its recent expansions.
HATTIESBURG, Miss.--(BUSINESS WIRE)--The First Bancshares, Inc. (NASDAQ: FBMS) has announced a new share repurchase program for up to
The First Bancshares, Inc. (NASDAQ: FBMS), the parent company of The First Bank, will attend the Janney West Coast Bank CEO Forum from February 1-3, 2023, at the Hyatt Regency Scottsdale Resort & Spa in Scottsdale, Arizona. During this event, the company will conduct one-on-one meetings with bank stock analysts and investors. A presentation for these meetings will be accessible on the company’s website under Investor Relations. Founded in 1996 and headquartered in Hattiesburg, Mississippi, The First Bancshares operates in multiple states, including Mississippi, Louisiana, Alabama, Florida, and Georgia.
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