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.
The First Bancshares, Inc. (FBMS) generates a steady flow of news as a publicly traded commercial banking company and parent of The First Bank. Company news releases center on its financial performance, regional banking franchise and corporate developments affecting shareholders of FBMS stock.
Regular earnings announcements provide detailed updates on net income available to common shareholders, net interest income, core net interest margin, loan growth, deposit trends and credit quality metrics such as nonperforming assets and net charge-offs. These releases also discuss non-interest income and expense, along with non-GAAP measures like operating earnings and core net interest margin that management uses to evaluate performance.
FBMS news also covers strategic and capital markets events. The company has issued announcements about transferring the listing of its common stock from Nasdaq to the New York Stock Exchange, participation in investor conferences and scheduling of quarterly earnings conference calls. These items are relevant for investors tracking trading venues, liquidity and opportunities to hear directly from management.
A major recent theme in The First Bancshares, Inc. news flow is its definitive merger agreement with Renasant Corporation, the holding company for Renasant Bank. Press releases describe the all-stock transaction, approvals by both companies’ shareholders, regulatory approvals and the expectation that The First will merge with and into Renasant, followed by the merger of The First Bank into Renasant Bank, subject to customary closing conditions.
For followers of FBMS, this news page brings together earnings reports, merger-related announcements, listing changes and investor relations updates in one place. It allows readers to review how The First Bancshares, Inc. communicates its financial results, strategic direction and planned combination with Renasant Corporation over time.
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The First Bancshares, Inc. (FBMS) reported a steady net income of $16.3 million for Q1 2023, unchanged from Q4 2022. However, operating net earnings surged 57.8%, reaching $27.1 million, bolstered by recent acquisitions of Heritage Southeast Bancorporation and Beach Bank. Total loans grew by 1.0% excluding acquired loans, totaling $4.970 billion, while total deposits increased by 21.4% to $6.668 billion. The net interest margin improved to 3.63% from 3.31% in the previous quarter. The company declared a cash dividend of $0.22 per share, a 5% increase, payable on May 24, 2023. Despite rising provisions for credit losses at $11.0 million, FBMS remains optimistic about growth in new markets and strong operating returns from its recent expansions.