Welcome to our dedicated page for First Bancshares news (Ticker: FBMS), a resource for investors and traders seeking the latest updates and insights on First Bancshares stock.
Overview
First Bancshares (FBMS) is a well-established bank holding company known for its robust regional presence and diversified financial services. As a key player in the Commercial/Retail, Mortgage Banking, and Holding company segments, First Bancshares has built a reputation for delivering a comprehensive suite of deposit products, loan solutions, and wealth management services designed to meet the varying financial needs of individuals, businesses, associations, and governmental authorities. The company combines traditional banking services with a strategic expansion approach, characterized by a series of well-planned acquisitions and expansions, which has allowed it to grow steadily while maintaining a focus on community banking.
History and Expansion
Founded through its parent holding company on June 23, 1995, in Hattiesburg, Mississippi, and commencing operations in August 1996 from its home office, First Bancshares has a storied history of growth and stability. Over the years, the company has expanded its footprint significantly, marked by strategic acquisitions such as the addition of First National Bank of Wiggins in 2006, the integration of several branches under Whitney Bank in 2011, and further geographical expansion into key markets including Ocean Springs and Baldwin County in 2013. The subsequent acquisition of Bay Bank in Mobile, Alabama further underscored the company’s commitment to expanding its regional influence. Today, operating over 30 offices, First Bancshares serves communities across South Mississippi, Louisiana, and South Alabama, reinforcing its local market presence and operational resilience.
Comprehensive Financial Services
The core of First Bancshares' offering lies in its diversified product suite designed to cater to the financial needs of a varied clientele. The company provides an array of deposit products including checking accounts, savings accounts, and time deposit accounts that ensure liquidity and convenience. Its loan portfolio is equally expansive, offering commercial and personal loans that range from secured and unsecured credit facilities to consumer loans, as well as specialized residential mortgage loans. This suite is complemented by a range of ancillary services such as online internet banking, voice response telephone inquiries, mobile deposit, safe deposit boxes, and traveler's checks. Such offerings not only enhance customer convenience but also provide essential tools for effective financial management, demonstrating the firm’s commitment to comprehensive service delivery.
Operational Focus and Market Position
Operating within a dynamic and competitive financial services environment, First Bancshares has positioned itself as a reliable regional bank with a strong emphasis on community engagement and customer service. The company’s operational model is underscored by a focus on local markets, where it leverages community expertise and deep regional knowledge to tailor its services to the needs of local businesses and residents. This deep-rooted approach is evidenced by its consistent market presence and the diverse range of financial products it offers. By integrating financial technology with traditional banking practices through services such as online and mobile banking, First Bancshares ensures that its offerings are both current and accessible, thereby addressing contemporary financial needs while retaining a focus on personalized customer support.
Service Excellence and Competitive Differentiators
The distinguishing features of First Bancshares lie in its capacity to blend conventional banking practices with innovative financial solutions. Investors and analysts have often noted that the institution's well-rounded service portfolio, including deposit and lending solutions, facilitates solid market resilience. The company has continuously evolved its product offerings to provide integrated financial solutions that support both personal and commercial financial objectives. Its strategy to incorporate advanced digital banking features such as mobile deposit options and online management systems has allowed it to streamline operations while maintaining a hands-on approach to customer relationships. This balanced approach differentiates First Bancshares amid a landscape populated by larger, less community-focused institutions.
Financial and Lending Solutions
First Bancshares’ commitment to delivering a holistic range of financial services is evident in its wide-ranging portfolio of deposit and loan products. Whether it is offering basic banking products such as savings and checking accounts, or more complex services like personal and commercial loans and residential mortgages, the company ensures that each product is designed with customer financial stability at its core. These products support the financial well-being of various stakeholders by providing essential financial tools that encourage asset growth, liquidity management, and investment in business and real estate ventures. In addition to basic banking functions, the firm also delivers wealth management and financial advisory services, reinforcing its reputation as a multifaceted financial institution.
Technological Integration and Customer Experience
In the era of digital finance, First Bancshares has successfully integrated technology into its core operations. Through its online banking platform and mobile deposit capabilities, the institution demonstrates its commitment to using technology to improve customer convenience and operational efficiency. The digital channels offered are built with a focus on security and user accessibility, ensuring that personal and business banking needs are met with ease, further enhancing the overall customer experience. This progressive approach to technology not only supports seamless day-to-day banking operations but also positions the company as a forward-thinking player within the regional banking ecosystem.
Community-Centric Philosophy and Local Engagement
Beyond its technical and operational capabilities, First Bancshares maintains a community-centric philosophy. The company's roots in Hattiesburg and its subsequent expansion into neighboring states reflect its ongoing commitment to engaging with local communities and offering tailored financial solutions that foster regional economic growth. The local presence achieved through its network of offices across South Mississippi, Louisiana, and South Alabama allows the company to maintain strong relationships with customers, providing personalized banking experiences that cater specifically to the financial needs of the area. This local focus has fostered trust and reliability, making First Bancshares a stable and accessible financial partner for residents and businesses alike.
Competitive Landscape and Differentiation
In a competitive marketplace where financial institutions vie for customer attention, First Bancshares distinguishes itself through its well-rounded approach to banking. The company's strategic acquisitions have not only broadened its footprint but also enriched its product portfolio. By leveraging its regional market knowledge and combining it with a robust suite of traditional and digital banking services, the institution has carved out a niche that is both resilient and adaptable. While larger national banks may offer a wider geographical reach, First Bancshares' emphasis on local market understanding and customer service offers a personalized alternative that resonates strongly with its client base.
Expertise and Industry Insight
Drawing from decades of operational experience and deep regional insights, First Bancshares demonstrates a strong command over community-based banking. The institution's detailed and diversified approach to providing financial services illustrates a commitment to excellence and a sophisticated understanding of regional market dynamics. Its operations are structured to balance traditional banking methods with innovative financial solutions in a manner that optimizes both service delivery and customer experience. Such an approach ensures that the bank can address both simple and complex financial needs with clarity, precision, and efficiency.
Conclusion
Overall, First Bancshares stands out as a well-rounded financial institution with a clear focus on community-based banking and regional market engagement. Its comprehensive range of deposit products, lending solutions, and financial services, combined with strategic technological integrations, positions it as a steadfast entity in the regional banking sector. For investors and analysts seeking to understand its operational dynamics, the company represents a model of balanced growth and deep market integration, marked by a commitment to personalized service and financial accessibility.
The First Bancshares, Inc. (NASDAQ: FBMS) has renewed its share repurchase program, allowing up to $30 million for stock buybacks, which had expired on December 31, 2021. The management will decide on the timing, method, and price of purchases based on market conditions. The new program is set to expire on December 31, 2022.
This initiative aims to enhance shareholder value while considering market dynamics.
The First Bancshares, Inc. (FBMS) reported a net income of $15.8 million for Q4 2021, down 2.1% from Q3. The decrease was influenced by one-time charges and lower PPP fee income. Year-over-year, net income rose 22.2% from $52.5 million in 2020 to $64.2 million in 2021. Notably, FBMS completed the acquisition of seven branches from Cadence Bank, adding $410.2 million in deposits. The Board declared a cash dividend of $0.17 per share, reflecting a 6% increase. Total assets surpassed $6 billion, making FBMS the 5th largest bank in Mississippi.
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.
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