First Bancshares - FBMS STOCK NEWS

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.

The First Bancshares, Inc. (FBMS) reported financial results for Q4 2022, highlighting a net income of $16.3 million, a 16.0% increase from Q3 2022. However, year-over-year net income available to common shareholders decreased by 1.9% to $62.9 million. Notably, the company completed its acquisition of Heritage Southeast Bancorporation on January 1, 2023, adding approximately $1.6 billion in assets. A cash dividend of $0.21 per share was declared, a 5% increase from the previous quarter, to be paid on February 24, 2023. The total loans increased by 1.5% sequentially, with nonperforming assets dropping significantly.

The First Bancshares, Inc. (NASDAQ: FBMS) has successfully completed its acquisition of Heritage Southeast Bancorporation, Inc. effective January 1, 2023. This merger enhances The First Bank's market presence, resulting in approximately $7.9 billion in total assets, $6.9 billion in deposits, and $5.0 billion in loans. With this merger, The First Bank now operates 114 branches across Mississippi, Louisiana, Alabama, Florida, and Georgia, poised to leverage synergies for growth in dynamic southeastern markets.

The First Bancshares (FBMS) and Heritage Southeast Bancorporation (HSBI) have announced the approval of their merger by shareholders from both companies. This merger, guided by a previously established agreement, is expected to officially close on January 1, 2023, following all regulatory requirements. First Bancshares operates The First Bank across several states, while HSBI oversees Heritage Southeast Bank with around $1.7 billion in assets. This merger aims to enhance operational efficiencies and market presence.

The First Bancshares has received regulatory approval to merge with Heritage Southeast Bancorporation. The merger, originally announced on July 27, 2022, is pending a 15-day waiting period and shareholder approval. Upon completion, the combined company will have around $8 billion in assets, $7 billion in deposits, and over 100 branches across five Southeastern states. This strategic move aims to enhance market presence and operational efficiencies, looking to close in early January 2023.

The First Bancshares, Inc. (NASDAQ: FBMS) will attend the 2022 Hovde Group Financial Services Conference from November 2 to 3 in Miami, Florida, featuring one-on-one meetings with analysts and investors. Additionally, the company will participate in the East Coast Financial Services Conference hosted by Piper Sandler on November 8 and 9 in Palm Beach, Florida. Presentation materials will be accessible on their website under Investor Relations. Founded in 1996, The First Bancshares operates in Mississippi, Louisiana, Alabama, Florida, and Georgia.

The First Bancshares, Inc. (FBMS) reported Q3 2022 financial results, including net income of $14.0 million, a 10.9% decrease from Q2 2022 due to merger-related expenses. The company acquired Beach Bancorp, adding 7 locations and increasing total assets by $458.2 million. A definitive agreement was made to acquire Heritage Southeast Bancorporation, projected to add $1.7 billion in assets. The Board declared a cash dividend of $0.20 per share, reflecting a 5% increase. Total loans rose by 3.1%, and net interest income grew by 17.9% sequentially.

The First Bancshares, Inc. (NASDAQ: FBMS) will participate in the VirtualBankConference.com on September 13, 2022, from 9:00 a.m. to 4:15 p.m. eastern time. The conference targets bank investors, management, and industry professionals. A presentation for the event will be accessible on the company's website under Investor Relations. Headquartered in Hattiesburg, Mississippi, The First Bancshares operates in multiple states including Mississippi, Louisiana, Alabama, Florida, and Georgia. For more information, visit www.thefirstbank.com.

The First Bancshares, Inc. (NASDAQ: FBMS) announced that M. Ray 'Hoppy' Cole, Jr. has taken on the additional role of Chairman of the Board of Directors, effective August 18, 2022. He succeeds E. Ricky Gibson, who remains on the board. Ted E. Parker has been appointed as Lead Independent Director. Cole commended Gibson for his significant contributions as Chairman, noting the company’s growth to over 900 employees and 97 locations across five states. The leadership changes aim to strengthen the bank's governance and continue its expansion in the southeastern U.S.