First Bancshares, Inc. Announces Operating Results for Quarter and Year Ended December 31, 2024
First Bancshares (OTCQX: FBSI) has reported strong financial results for Q4 and full-year 2024. The company achieved quarterly after-tax net income of $1,719,000 ($0.71 per share-diluted) and annual after-tax net income of $6,578,000 ($2.71 per share-diluted).
Key financial metrics show solid performance: consolidated assets stood at $537.89 million, net loans increased to $423.66 million, and total deposits rose to $472.60 million. The company demonstrated strong capital growth with tier 1 capital increasing 11.09% to $58.40 million and total capital up 10.25% to $64.09 million.
The bank outperformed its peer group with impressive metrics including a 1.34% after-tax return on average assets, 12.56% after-tax return on average equity, 4.35% net interest margin, and 56.07% efficiency ratio. With strong liquidity (14.65%) and leverage (10.97%) ratios, the bank is well-positioned for 2025 growth.
First Bancshares (OTCQX: FBSI) ha riportato risultati finanziari solidi per il quarto trimestre e l'intero anno 2024. L'azienda ha ottenuto un reddito netto trimestrale dopo le tasse di $1.719.000 ($0,71 per azione diluita) e un reddito netto annuale dopo le tasse di $6.578.000 ($2,71 per azione diluita).
I principali indicatori finanziari mostrano una performance solida: gli attivi consolidati si sono attestati a $537,89 milioni, i prestiti netti sono aumentati a $423,66 milioni e i depositi totali sono saliti a $472,60 milioni. L'azienda ha dimostrato una forte crescita del capitale, con il capitale di livello 1 che è aumentato dell'11,09% a $58,40 milioni e il capitale totale aumentato del 10,25% a $64,09 milioni.
La banca ha superato il suo gruppo di riferimento con metriche impressionanti, inclusi un ritorno netto dopo le tasse dell'1,34% sugli attivi medi, un ritorno netto dopo le tasse del 12,56% sui fondi propri medi, un margine di interesse netto del 4,35% e un rapporto di efficienza del 56,07%. Con solidi rapporti di liquidità (14,65%) e leva (10,97%), la banca è ben posizionata per la crescita del 2025.
First Bancshares (OTCQX: FBSI) ha reportado resultados financieros sólidos para el cuarto trimestre y el año completo 2024. La compañía logró un ingreso neto trimestral después de impuestos de $1,719,000 ($0.71 por acción diluida) y un ingreso neto anual después de impuestos de $6,578,000 ($2.71 por acción diluida).
Las métricas financieras clave muestran un rendimiento sólido: los activos consolidados se situaron en $537.89 millones, los préstamos netos aumentaron a $423.66 millones y los depósitos totales aumentaron a $472.60 millones. La compañía demostró un fuerte crecimiento del capital, con el capital de nivel 1 aumentando un 11.09% a $58.40 millones y el capital total aumentando un 10.25% a $64.09 millones.
El banco superó a su grupo de pares con métricas impresionantes, incluyendo un retorno neto después de impuestos del 1.34% sobre los activos promedio, un retorno neto después de impuestos del 12.56% sobre el capital promedio, un margen de interés neto del 4.35% y una ratio de eficiencia del 56.07%. Con sólidos ratios de liquidez (14.65%) y apalancamiento (10.97%), el banco está bien posicionado para el crecimiento en 2025.
First Bancshares (OTCQX: FBSI)는 2024년 4분기 및 전체 연도의 강력한 재무 결과를 보고했습니다. 이 회사는 분기 세후 순이익 $1,719,000 ($0.71 주당 희석액) 및 연간 세후 순이익 $6,578,000 ($2.71 주당 희석액)을 달성했습니다.
주요 재무 지표는 견고한 성과를 보여줍니다: Consolidated assets는 $537.89 백만으로, 순 대출은 $423.66 백만으로 증가하였고, 총 예금은 $472.60 백만으로 증가했습니다. 이 회사는 Tier 1 자본이 11.09% 증가하여 $58.40 백만에 도달하고, 총 자본도 10.25% 증가하여 $64.09 백만에 도달하는 강력한 자본 성장을 보였습니다.
이 은행은 평균 자산에 대한 세후 수익률 1.34%, 평균 자기자본에 대한 세후 수익률 12.56%, 순이자 마진 4.35% 및 효율성 비율 56.07%를 포함한 인상적인 지표로 동종업체 그룹을 초과 달성했습니다. 강력한 유동성 비율(14.65%)과 레버리지 비율(10.97%)을 갖춘 이 은행은 2025년 성장에 잘 대비하고 있습니다.
First Bancshares (OTCQX: FBSI) a rapporté de solides résultats financiers pour le quatrième trimestre et l'année entière 2024. La société a réalisé un revenu net trimestriel après impôt de $1,719,000 ($0.71 par action diluée) et un revenu net annuel après impôt de $6,578,000 ($2.71 par action diluée).
Les principaux indicateurs financiers montrent des performances solides : les actifs consolidés se sont élevés à $537.89 millions, les prêts nets ont augmenté à $423.66 millions et les dépôts totaux ont grimpé à $472.60 millions. L'entreprise a affiché une forte croissance du capital avec un capital de niveau 1 en hausse de 11,09 % à $58.40 millions et un capital total en hausse de 10,25 % à $64.09 millions.
La banque a surpassé son groupe de pairs avec des indicateurs impressionnants, y compris un retour après impôt de 1,34 % sur les actifs moyens, un retour après impôt de 12,56 % sur les capitaux propres moyens, une marge d'intérêt net de 4,35 % et un ratio d'efficacité de 56,07 %. Avec des ratios de liquidité solides (14,65 %) et de levier (10,97 %), la banque est bien positionnée pour une croissance en 2025.
First Bancshares (OTCQX: FBSI) hat starke Finanzzahlen für das vierte Quartal und das gesamte Jahr 2024 gemeldet. Das Unternehmen erzielte einen quartalsweisen Nettoertrag nach Steuern von $1.719.000 ($0,71 pro verwässerter Aktie) und einen jährlichen Nettoertrag nach Steuern von $6.578.000 ($2,71 pro verwässerter Aktie).
Wichtige Finanzkennzahlen zeigen eine solide Leistung: Die konsolidierten Aktiva belaufen sich auf $537.89 Millionen, die Nettokredite stiegen auf $423.66 Millionen und die Gesamteinlagen erhöhten sich auf $472.60 Millionen. Das Unternehmen zeigte ein starkes Kapitalwachstum, wobei das Tier-1-Kapital um 11,09% auf $58.40 Millionen und das Gesamtkapital um 10,25% auf $64.09 Millionen stieg.
Die Bank übertraf ihre Peer-Gruppe mit beeindruckenden Kennzahlen, einschließlich einer Nachsteuer-Rendite von 1,34% auf das durchschnittliche Vermögen, einer Nachsteuer-Rendite von 12,56% auf das durchschnittliche Eigenkapital, einer Nettozinsmarge von 4,35% und einem Effizienzverhältnis von 56,07%. Mit einer starken Liquidität (14,65%) und Leverage (10,97%) ist die Bank gut positioniert für das Wachstum 2025.
- Q4 2024 net income of $1,719,000 ($0.71 per share)
- Full-year 2024 net income of $6,578,000 ($2.71 per share)
- 11.09% increase in tier 1 capital to $58.40 million
- 10.25% increase in total capital to $64.09 million
- Strong performance metrics: 1.34% ROA, 12.56% ROE, 4.35% net interest margin
- Efficient operations with 56.07% efficiency ratio
- Well-capitalized status maintained with strong liquidity position
- Slight decrease in total assets from $541.56M to $537.89M year-over-year
MOUNTAIN GROVE, Mo., Jan. 17, 2025 (GLOBE NEWSWIRE) -- First Bancshares, Inc. (OTCQX: FBSI) (“Company”), the holding company for Stockmens Bank (“Bank”), today announced its financial results for the quarter and year ended December 31, 2024.
For the quarter ended December 31, 2024, the Company reported after-tax net income of
Consolidated total assets remained relatively level at
During fiscal year 2024, the Bank continued a trend of outperforming its peer group in nearly every relevant performance measure. After-tax return on average assets was
The Bank meets all regulatory requirements for “well-capitalized” status.
About the Company
First Bancshares, Inc. is the holding company for Stockmens Bank, a FDIC-insured commercial bank chartered by the State of Colorado that conducts business from its home office in Colorado Springs, Colorado, and eight full-service Missouri offices in Mountain Grove, Marshfield, Ava, Kissee Mills, Gainesville, Crane, Hartville and Springfield, and full-service offices in Bartley, Nebraska and Akron, Colorado.
Cautionary Note Regarding Forward-Looking Statements
The Company and its wholly owned subsidiary, Stockmens Bank, may from time to time make written or oral “forward-looking statements” in its reports to shareholders, and in other communications by the Company, which are made in good faith by the Company pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements include statements with respect to the Company’s beliefs, expectations, estimates and intentions that are subject to significant risks and uncertainties, and are subject to change based on various factors, some of which are beyond the Company’s control. Such statements address the following subjects: future operating results; customer growth and retention; loan and other product demand; earnings growth and expectations; new products and services; credit quality and adequacy of reserves; results of examinations by our bank regulators, technology, and our employees. The following factors, among others, could cause the Company’s financial performance to differ materially from the expectations, estimates and intentions expressed in such forward-looking statements: the strength of the United States economy in general and the strength of the local economies in which the Company conducts operations; the effects of, and changes in, trade, monetary, and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; inflation, interest rate, market, and monetary fluctuations; the timely development and acceptance of new products and services of the Company and the perceived overall value of these products and services by users; the impact of changes in financial services’ laws and regulations; technological changes; acquisitions; changes in consumer spending and savings habits; and the success of the Company at managing and collecting assets of borrowers in default and managing the risks of the foregoing.
The foregoing list of factors is not exclusive. The Company does not undertake, and expressly disclaims any intent or obligation, to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.
Contact: Robert M. Alexander, Chairman and CEO - (719) 955-2800
| First Bancshares, Inc. and Subsidiaries | ||||||||||||||
| Financial Highlights | ||||||||||||||
| (unaudited) | ||||||||||||||
| (In thousands, except per share amounts) | ||||||||||||||
| Quarter Ended | Year Ended | |||||||||||||
| December 31, | December 31, | |||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||
| Operating Data: | ||||||||||||||
| Total interest income | $ | 8,161 | $ | 7,713 | $ | 32,535 | $ | 28,324 | ||||||
| Total interest expense | 2,398 | 2,497 | 10,633 | 7,437 | ||||||||||
| Net interest income | 5,763 | 5,216 | 21,902 | 20,887 | ||||||||||
| Provision for credit losses | 241 | 223 | 784 | 795 | ||||||||||
| Net interest income after provision for credit losses | 5,522 | 4,993 | 21,118 | 20,092 | ||||||||||
| Gain (loss) on sale of investments | - | - | - | - | ||||||||||
| Non-interest income | 403 | 559 | 1,609 | 1,807 | ||||||||||
| Non-interest expense | 3,711 | 3,470 | 14,061 | 12,992 | ||||||||||
| Income before taxes | 2,214 | 2,082 | 8,666 | 8,907 | ||||||||||
| Income tax expense | 495 | 520 | 2,088 | 2,187 | ||||||||||
| Net income | $ | 1,719 | $ | 1,562 | $ | 6,578 | $ | 6,720 | ||||||
| Earnings per share | $ | 0.71 | $ | 0.65 | $ | 2.71 | $ | 2.77 | ||||||
| At | At | |||||||||||||
| December 31, | December 31, | |||||||||||||
| Financial Condition Data: | 2024 | 2023 | ||||||||||||
| Cash and cash equivalents | $ | 68,570 | $ | 79,032 | ||||||||||
| (excludes CDs) | ||||||||||||||
| Investment securities | 13,066 | 13,101 | ||||||||||||
| (includes CDs) | ||||||||||||||
| Loans receivable, net | 423,657 | 418,044 | ||||||||||||
| Goodwill and intangibles | 1,515 | 1,658 | ||||||||||||
| Total assets | 537,885 | 541,561 | ||||||||||||
| Deposits | 472,596 | 471,992 | ||||||||||||
| Repurchase agreements | 1,084 | 836 | ||||||||||||
| Borrowings | - | 11,000 | ||||||||||||
| Stockholders' equity | 59,562 | 53,592 | ||||||||||||
| Book value per share | $ | 24.53 | $ | 22.07 | ||||||||||
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