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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. (NASDAQ: FBMS) announced its participation in the 2021 HOVDE Group Financial Services Conference from November 3 to 5, 2021, in Phoenix, Arizona. During this event, company representatives will hold one-on-one meetings with analysts and investors starting November 4, 2021. A presentation for these meetings will be accessible on the company’s website under Investor Relations. Headquartered in Hattiesburg, Mississippi, The First Bancshares operates in five states, including Mississippi, Louisiana, Alabama, Florida, and Georgia.
The First Bancshares, Inc. (FBMS) reported a net income of $16.1 million for Q3 2021, a 3.4% increase from Q2 2021 and a 35.4% increase year-over-year. Average loans, excluding PPP loans, rose by $9.0 million. Total interest income increased $1.2 million, while the cost of deposits decreased 23%, resulting in an increase in the net interest margin. The company also announced a cash dividend of $0.16 per share, payable on November 26, 2021. Nonperforming assets decreased 24% from Q2 2021, reflecting improved credit quality.
The First Bancshares and FHLB Dallas have collaborated to provide
The First Bancshares, Inc. (NASDAQ: FBMS) has signed an agreement to acquire seven Cadence Bank branches in Northeast Mississippi. This acquisition is part of a divestiture due to the merger between BancorpSouth (NYSE: BXS) and Cadence Bancorporation (NYSE: CADE), which was prompted by a DOJ Antitrust review. The First will assume approximately $450 million in deposits for a $1 million premium, and acquire about $42 million in loans at par value. The deal is expected to close in Q4 2021, subject to regulatory approvals.
The First Bancshares, Inc. (NASDAQ: FBMS) will participate in the 2021 Virtual KBW Community Bank Investor Conference from August 3-5, 2021. The event includes one-on-one meetings with bank stock analysts and investors.
The presentation for these meetings will be accessible on the company’s website under Investor Relations section. Founded in 1996 and based in Hattiesburg, Mississippi, The First operates across Mississippi, Louisiana, Alabama, Florida, and Georgia. More information is available at www.thefirstbank.com.
The First Bancshares, Inc. (FBMS) reported a net income available to common shareholders of $15.6 million for Q2 2021, marking a 6.3% decrease from Q1 2021. However, year-over-year net income grew by 27.7%, from $25.3 million in 2020 to $32.2 million in 2021. Total loans increased by $45.5 million (6.4% annualized), while nonperforming assets dropped by $8.7 million (19%). The Board declared a cash dividend of $0.15 per share, payable on August 25, 2021, with a record date of August 10, 2021.
The First Bancshares, Inc. (NASDAQ: FBMS) will participate in two upcoming virtual banking conferences. The Gulf South Bank Conference is scheduled from May 3-4, 2021, followed by the D.A. Davidson 23rd Annual Financial Institutions Virtual Conference on May 5-6, 2021. During these events, the company will hold one-on-one meetings with bank stock analysts and investors. Presentation materials for these meetings will be accessible on the company’s website under the Investor Relations section.
The First Bancshares, Inc. (NASDAQ: FBMS) will present at the 24th Annual Burkenroad Reports Investment Conference on April 23, 2021, at 10:00 a.m. Central Time. The event runs from 8:00 a.m. to 3:00 p.m. and is free for public attendance. Interested attendees can register through www.burkenroad.org. The presentation will also be livestreamed on the company's website and available for replay afterwards. Headquartered in Hattiesburg, Mississippi, The First Bancshares operates in multiple states and has been in business since 1996.
The First Bancshares, Inc. (FBMS) reported a net income of $16.6 million for Q1 2021, reflecting an increase of 8.5% from the previous quarter and 100.3% year-over-year. Pre-tax, pre-provision operating earnings rose 20.2% to $21.4 million. Notably, provision for credit losses fell to $0 compared to $3.5 million last quarter. Assets grew to $5.443 billion, with total average deposits increasing 5.1% sequentially. The Board declared a cash dividend of $0.14 per share, payable May 25, 2021.
The First Bancshares, Inc. (FBMS) reported a net income of $15.3 million for Q4 2020, marking a 28.7% increase from Q3 2020 and a 29.4% rise from Q4 2019. Operating earnings rose 14.4% sequentially to $13.8 million. The company saw a 572.8% increase in loan loss provisions year-over-year, totaling $25.2 million. Total assets decreased by $11.4 million to $5.153 billion, while total average deposits grew 41.6% year-over-year. A cash dividend of $0.13 per share was declared for payment on February 25, 2021.
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