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The First Bancshares, Inc. - FBMS STOCK NEWS

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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.

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The First Bancshares, Inc. (NYSE: FBMS), holding company for The First Bank, has announced its plans for the 2024 second quarter earnings release. The company will disclose its Q2 2024 results after the NYSE closing on Wednesday, July 24, 2024. Following this, FBMS will host an executive management conference call on Thursday, July 25, 2024, at 11:00 AM Eastern Time (10:00 AM Central Time). Interested parties can access the webcast through a provided link, and an archived version will be available on the company's website after the call.

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The First Bancshares, parent company of The First Bank, announced its transfer from the Nasdaq to the New York Stock Exchange (NYSE). The common stock is set to begin trading under the ticker symbol 'FBMS' on May 30, 2024. Trading on Nasdaq will continue until May 29, 2024. CEO M. Ray 'Hoppy' Cole Jr. highlighted the company's growth from $294 million to nearly $8 billion in assets since its Nasdaq listing in 2006. The bank has expanded from 7 to over 116 locations across five states. John Tuttle, vice chair of the NYSE Group, welcomed The First Bancshares as the sixteenth bank to join since 2021.

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The First Bancshares, Inc. (NASDAQ: FBMS) will participate in the 2024 Gulf South Bank Conference, engaging with analysts and investors. The company, headquartered in Hattiesburg, Mississippi, operates in multiple states and trades on NASDAQ under the symbol FBMS.

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The First Bancshares, Inc. (FBMS) reported a strong first quarter for 2024 with a net income increase of 86.7% to $20.6 million compared to the previous quarter. Total deposits rose by $247.5 million, while total loans decreased by $30.1 million. Nonperforming assets decreased to $18.4 million. The company declared a cash dividend of $0.25 per share.
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The First Bancshares, Inc. (FBMS) will announce its 2024 first quarter results on April 24, 2024, followed by a quarterly conference call on April 25, 2024. The webcast will be accessible on their website and archived for later viewing.
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The First Bancshares, Inc. (NASDAQ: FBMS) announces a new share repurchase program for 2024, allowing for up to $50 million in common stock buybacks. Management will decide the timing, method, and price based on various factors, with an expiration date of December 31, 2024.
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The First Bancshares, Inc. (NASDAQ: FBMS) will participate in the Janney CEO Forum from January 31, 2024, to February 1, 2024, at the Hyatt Regency Resort & Spa at Gainey Ranch, Scottsdale, Arizona. The company will have one-on-one meetings with bank stock analysts and investors. The presentation for these meetings is available on the company's website. The First Bancshares, Inc. is the parent company of The First Bank, with operations in Mississippi, Louisiana, Alabama, Florida, and Georgia. The company's stock is traded on NASDAQ under the symbol FBMS.
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The First Bancshares, Inc. reported a decrease in net income available to common shareholders by 54.7% for the quarter ended December 31, 2023, compared to the previous quarter. The company also experienced a decrease in core net interest margin and an increase in nonperforming assets. However, for the year-over-year comparison, net income available to common shareholders increased by 19.9%, and total loans increased by 6.3%. The company's President and CEO emphasized strong results for the full year of 2023, despite margin compression and other challenges.
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First Bancshares, Inc. (FBMS) has repositioned a portion of its securities portfolio, resulting in a pre-tax loss of $9.7 million. The company reinvested the proceeds and used a portion to repay borrowings from the Federal Reserve Bank. This repositioning is expected to increase net interest margin, net interest income, and earnings per share. The company will announce its fourth-quarter 2023 earnings on January 24, 2024, and hold a conference call on January 25, 2024.
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The First Bancshares, Inc. reports financial results for Q3 2023, with net income of $24.4 million, representing a 2.4% increase from the previous quarter. Total loans increased by $78.9 million, or 6.3% on an annualized basis. Net interest margin decreased to 3.47% due to reduced accretion income and increased deposit costs. The company received a $6.2 million award from the U.S. Treasury Equitable Recovery Program.
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FAQ

What is The First Bancshares, Inc.?

The First Bancshares, Inc. (FBMS) is a national banking association headquartered in Hattiesburg, Mississippi, offering a wide range of banking products and services.

When was The First Bancshares, Inc. founded?

The First Bancshares, Inc. was incorporated on June 23, 1995, and began operations on August 5, 1996.

What services does The First Bancshares, Inc. offer?

The company offers deposit accounts, commercial and personal loans, financial and wealth management services, online internet banking, mobile deposit, and more.

Where are The First Bancshares, Inc. offices located?

The company has 30 offices located across South Mississippi, Louisiana, and South Alabama.

What are the main segments The First Bancshares, Inc. operates in?

The company operates in three main segments: Commercial/Retail Banking, Mortgage Banking, and Holding Company.

What are some notable acquisitions by The First Bancshares, Inc.?

Notable acquisitions include the First National Bank of Wiggins in 2006, eight Whitney Bank branches in 2011, and Bay Bank in Mobile, Alabama in 2014.

Does The First Bancshares, Inc. offer online banking services?

Yes, the company provides comprehensive online internet banking services.

What type of loans does The First Bancshares, Inc. provide?

The company offers secured and unsecured loans, consumer loans, business expansion loans, equipment and machinery purchase loans, and residential mortgage loans.

What recent achievements does The First Bancshares, Inc. have?

Recent achievements include strategic expansions and successful integrations of various banking entities, enhancing their service offerings.

What is the primary focus of The First Bancshares, Inc.?

The primary focus is to meet the diverse banking needs of its customers through innovative services and strategic growth.

The First Bancshares, Inc.

NYSE:FBMS

FBMS Rankings

FBMS Stock Data

919.39M
31.22M
9.37%
67.16%
1.32%
Commercial Banking
Finance and Insurance
Link
United States of America
HATTIESBURG