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First Bancshares, Inc., operates as a bank holding company for The Stockmens Bank, offering a diverse range of banking and mortgage products and services to both individual and corporate clients across Southern Missouri, Eastern Colorado, and Southwestern Nebraska. Founded in 1993 and headquartered in Mountain Grove, Missouri, First Bancshares, Inc. aims to provide personalized financial solutions through its home office and nine full-service branches.
The company offers a variety of deposit products, including checking accounts, money market accounts, savings accounts, and certificates of deposit. In terms of lending, they provide real estate loans which encompass one-to-four family residential mortgages, multi-family residential loans, commercial real estate loans, agricultural real estate loans, and home equity loans. Additionally, First Bancshares, Inc. offers non-real estate loans that cater to commercial businesses, agricultural businesses, and consumers.
To keep up with modern banking needs, the company also provides comprehensive online banking services, allowing customers to manage their accounts remotely. First Bancshares, Inc. invests in mortgage-backed securities, government and agency securities, among other assets, to enhance its financial stability and growth.
Recent achievements include growth in their mortgage and loan portfolios, recognition for community involvement, and the implementation of advanced digital banking solutions to better serve their clients. Current projects focus on expanding their services, enhancing customer experience, and fostering new partnerships to drive growth.
The company’s robust financial condition, coupled with a strategic focus on customer service and innovation, makes First Bancshares, Inc. a significant player in the regional banking sector.
First Bancshares (OTCQX: FBSI) declared an annual cash dividend of $0.30 per share on March 10, 2023. This dividend is payable on April 15, 2023, to shareholders of record by the close of business on April 1, 2023. The company operates Stockmens Bank, with its headquarters in Colorado Springs and additional offices in Missouri and Nebraska, providing essential financial services.
First Bancshares, Inc. (FBSI) reported its financial results for Q4 and FY 2022, with a net income of $1,195,000 ($0.49 per share) for the quarter, down from $1,378,000 ($0.54 per share) in Q4 2021. However, the year-to-date net income increased to $5,283,000 ($2.16 per share) from $5,093,000 ($1.96 per share) in 2021. Key metrics include a 5.96% rise in total assets to $471.58 million and an 18.90% increase in net loans to $405.19 million. Non-interest expenses surged by $1,118,000, driven by inflationary pressures. Despite challenges, the company maintains a well-capitalized status, with total capital at $47.59 million, 10.09% of total assets.
First Bancshares, Inc. (FBSI) reported financial results for Q3 2022, revealing a net income of $1,667,000, or $0.68 per share-diluted, up from $1,335,000 or $0.52 per share-diluted in Q3 2021. Year-to-date net income rose to $4,088,000, compared to $3,715,000 last year. Key performance indicators show a 15.49% increase in net loans, totaling $393.54 million, and a 6.08% rise in total deposits to $420.64 million. However, non-interest expenses increased, attributed to new branches and competitive personnel costs. Consolidated total assets reached $473.75 million.
First Bancshares, Inc. (FBSI) reported a net income of $1,401,000 for Q2 2022, or $0.57 per share-diluted, showing a year-over-year increase from $1,147,000 ($0.44 per share-diluted) in Q2 2021. Year-to-date net income totaled $2,421,000, compared to $2,381,000 in 2021. Net interest income rose by $617,000, while non-interest expenses increased by $372,000 due to new branches and market competition. Total assets reached $460.28 million, with net loans up 11.21% to $378.97 million. The company maintains a solid capital ratio of 9.80%. Market volatility has led to unrealized losses in securities.
First Bancshares, Inc. (FBSI) reported a net income of $1,020,000 for Q1 2022, down from $1,234,000 in Q1 2021. Earnings per share decreased to $0.39 from $0.47. Key metrics showed a 5.31% rise in net loans to $358.87 million and total assets increased to $457.94 million. However, total non-interest expenses rose by $273,000 due to employee salary increases related to a new branch. Despite regulatory compliance, capital decreased slightly to 9.58% of assets, influenced by cash dividends and market losses.
First Bancshares, Inc. (FBSI) declared an annual cash dividend of $0.30 per share on its common stock. The dividend will be payable on April 1, 2022, to shareholders of record as of March 15, 2022. This announcement demonstrates the company’s commitment to providing returns to its shareholders. First Bancshares operates Stockmens Bank, which offers full-service operations in Colorado and Missouri, highlighting its geographic reach and service capacity.
First Bancshares, Inc. (FBSI) reported a net income of $1.38 million for Q4 2021, up from $1.02 million in Q4 2020, translating to $0.54 per share diluted. For the year 2021, net income reached a record $5.09 million, a 29% increase year-over-year. Total assets grew to $445.09 million, and net loans increased by 16.90% to $340.77 million. The allowance for loan losses stood at 1.59% of total gross loans. Both Q4 and annual results were driven by increased net interest income, which rose $2.47 million for the year, despite higher non-interest expense and tax burdens.
First Bancshares, Inc. (FBSI) reported a net income of $1.335 million or $0.52 per diluted share for Q3 2021, up from $1.049 million or $0.39 per diluted share in Q3 2020. Year-to-date net income reached $3.72 million, a 27% increase compared to $2.93 million in 2020. Total assets grew to $420.71 million, with net loans increasing by 17.63% to $342.90 million. Despite solid performance, management anticipates challenges from interest rate volatility affecting margins.
First Bancshares, Inc. (FBSI) reported a net income of $1,147,000, or $0.44 per share-diluted, for Q2 2021, up from $1,040,000 in Q2 2020. Year-to-date, net income reached $2,381,000, with significant contributions from a $612,000 rise in net interest income. Total assets increased to $423.25 million, with net loans rising by 9.88% and deposits by 5.24%. However, management anticipates challenges in the interest rate environment impacting future margins. The bank remains compliant with regulatory capital requirements.
First Bancshares, Inc. (FBSI) reported a net income of $1,234,000 or $0.47 per share-diluted for Q1 2021, marking a $397,000 increase compared to Q1 2020. The rise in net income is attributed to a $317,000 boost in net interest income, despite a $16,000 rise in non-interest expenses. Total assets grew to $418.26 million, with net loans increasing by 7.03% to $311.98 million and total deposits up by 3.97% to $370.61 million. However, management anticipates future pressure on the net interest margin due to market volatility.
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