The First Bancshares, Inc. Announces Receipt of Shareholder Approval for Merger
The First Bancshares, Inc. (NYSE: FBMS), holding company for The First Bank, has announced that its shareholders have approved the previously announced merger with Renasant . This approval marks a significant step forward in the merger process, which was initially agreed upon through an Agreement and Plan of Merger dated July 29, 2024.
While shareholder approval has been secured, the completion of the transaction still hinges on several factors. The merger remains subject to customary closing conditions, including the critical step of obtaining required regulatory approvals. This announcement indicates progress in the merger process, but final consummation of the deal is still pending these additional steps.
The First Bancshares, Inc. (NYSE: FBMS), holding di The First Bank, ha annunciato che i suoi azionisti hanno approvato la fusione precedentemente annunciata con Renasant . Questa approvazione segna un passo importante nel processo di fusione, che era stato inizialmente concordato attraverso un Accordo e Piano di Fusione datato 29 luglio 2024.
Nonostante sia stata ottenuta l'approvazione degli azionisti, il completamento della transazione è ancora vincolato a diversi fattori. La fusione è soggetta a condizioni di chiusura abituali, inclusa l'importante fase di ottenere approvazioni regolatorie richieste. Questo annuncio indica progressi nel processo di fusione, ma la conclusione finale dell'affare è ancora in attesa di questi ulteriori passaggi.
The First Bancshares, Inc. (NYSE: FBMS), compañía matriz de The First Bank, ha anunciado que sus accionistas han aprobado la fusión previamente anunciada con Renasant . Esta aprobación marca un paso significativo en el proceso de fusión, que se acordó inicialmente a través de un Acuerdo y Plan de Fusión fechado el 29 de julio de 2024.
Aunque se ha asegurado la aprobación de los accionistas, la finalización de la transacción aún depende de varios factores. La fusión sigue sujeta a condiciones de cierre habituales, incluyendo el paso crítico de obtener aprobaciones regulatorias requeridas. Este anuncio indica progreso en el proceso de fusión, pero la consumación final del acuerdo aún está pendiente de estos pasos adicionales.
The First Bancshares, Inc. (NYSE: FBMS), The First Bank의 지주 회사, 주주들이 Renasant 와의 이전에 발표된 합병을 승인했다는 소식을 전했습니다. 이 승인은 2024년 7월 29일자 합병 계약 및 계획을 통해 처음 동의된 합병 과정에서 중요한 진전을 의미합니다.
주주의 승인이 확보되었지만 거래 완성은 여전히 여러 요인에 달려 있습니다. 합병은 관례적인 마감 조건에 따라 진행되며, 필요한 규제 승인 확보라는 중요 단계가 포함되어 있습니다. 이 발표는 합병 과정에서 진전을 나타내지만, 거래의 최종 체결은 여전히 이러한 추가 단계에 달려 있습니다.
The First Bancshares, Inc. (NYSE: FBMS), société mère de The First Bank, a annoncé que ses actionnaires ont approuvé la fusion précédemment annoncée avec Renasant . Cette approbation marque une étape significative dans le processus de fusion, qui a été initialement convenu par un Accord et Plan de Fusion daté du 29 juillet 2024.
Bien que l'approbation des actionnaires ait été obtenue, l'achèvement de la transaction dépend encore de plusieurs facteurs. La fusion reste soumise à des conditions de clôture habituelles, y compris l'étape cruciale d'obtenir les approbations réglementaires requises. Cette annonce indique des progrès dans le processus de fusion, mais la conclusion finale de l'accord est encore en attente de ces étapes supplémentaires.
The First Bancshares, Inc. (NYSE: FBMS), die Holdinggesellschaft der The First Bank, hat angekündigt, dass ihre Aktionäre die zuvor angekündigte Fusion mit Renasant genehmigt haben. Diese Genehmigung stellt einen bedeutenden Fortschritt im Fusionsprozess dar, der ursprünglich durch einen Fusionsvertrag vom 29. Juli 2024 vereinbart wurde.
Obwohl die Genehmigung der Aktionäre gesichert ist, hängt der Abschluss der Transaktion weiterhin von mehreren Faktoren ab. Die Fusion unterliegt üblichen Abschlussbedingungen, einschließlich des entscheidenden Schrittes der Beschaffung von notwendigen regulatorischen Genehmigungen. Diese Ankündigung zeigt Fortschritte im Fusionsprozess, aber die endgültige Vollziehung des Vertrags steht noch aus.
- Shareholders approved the merger with Renasant
- Merger progressing as planned since the July 29, 2024 agreement
- Merger completion still subject to regulatory approvals and other conditions
Insights
This shareholder approval marks a important milestone in the merger process between The First Bancshares and Renasant While it's a positive step forward, investors should note that the deal isn't finalized yet, as regulatory approvals are still pending. These approvals can sometimes be challenging to obtain in the banking sector due to antitrust concerns and financial stability considerations.
The merger, once completed, could potentially create significant value for shareholders through increased market presence, cost synergies and improved operational efficiency. However, the full financial impact remains to be seen, as details on potential cost savings or revenue enhancements haven't been disclosed in this announcement.
Investors should keep an eye on upcoming regulatory decisions and any further announcements regarding integration plans or financial projections. The success of bank mergers often hinges on smooth integration and realization of synergies, which will be key factors to watch in the coming months.
About The First Bancshares, Inc.
The First Bancshares, Inc., headquartered in
Forward Looking Statements
Statements included in this communication which are not historical in nature or do not relate to current facts are intended to be, and are hereby identified as, forward-looking statements for purposes of the safe harbor provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on, among other things, The First management’s beliefs, assumptions, current expectations, estimates and projections about the financial services industry, the economy and Renasant and The First. Words and phrases such as “may,” “approximately,” “continue,” “should,” “expects,” “projects,” “anticipates,” “is likely,” “look ahead,” “look forward,” “believes,” “will,” “intends,” “estimates,” “strategy,” “plan,” “could,” “potential,” “possible” and variations of such words and similar expressions are intended to identify such forward-looking statements. The First cautions readers that forward-looking statements are subject to certain risks and uncertainties that are difficult to predict with regard to, among other things, timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results. Such risks and uncertainties include, among others, the following possibilities: the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the Merger Agreement; the outcome of any legal proceedings that may be instituted against Renasant or The First; and the failure to obtain necessary regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the business combination transaction) or to satisfy any of the other conditions to the business combination transaction on a timely basis or at all; the possibility that the anticipated benefits of the business combination transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Renasant and The First do business; the possibility that the business combination transaction may be more expensive to complete than anticipated; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the business combination transaction; changes in Renasant’s share price before the closing of the business combination transaction; and other factors that may affect future results of Renasant, The First and the combined company. Additional factors that could cause results to differ materially from those described above can be found in Renasant’s Annual Report on Form 10-K for the year ended December 31, 2023, The First’s Annual Report on Form 10-K for the year ended December 31, 2023, and in other documents Renasant and The First file with the SEC, which are available on the SEC’s website at www.sec.gov.
All forward-looking statements, expressed or implied, included in this communication are expressly qualified in their entirety by the cautionary statements contained or referred to herein. If one or more events related to these or other risks or uncertainties materialize, or if The First’s underlying assumptions prove to be incorrect, actual results may differ materially from what The First anticipates. The First cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made and are based on information available at that time. The First does not assume any obligation to update or otherwise revise any forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241022552905/en/
M. Ray "Hoppy" Cole, CEO or
Dee Dee Lowery, CFO
Phone: 601-268-8998
Source: The First Bancshares, Inc.
FAQ
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