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. reports recurring developments as the bank holding company for The First Bank, a regional banking franchise founded in 1996 with operations in Mississippi, Louisiana, Alabama, Florida and Georgia. News about FBMS centers on quarterly operating results, loan activity, net interest margin, credit-loss provisions and other measures tied to commercial banking performance.
Company updates also cover governance matters, shareholder voting items, material agreements, capital-structure disclosures, investor conference participation and public-company status changes, including the completed transfer of FBMS common stock trading to the New York Stock Exchange.
The First Bancshares, Inc. (NASDAQ: FBMS) has renewed its share repurchase program, allowing up to $30 million for stock buybacks, which had expired on December 31, 2021. The management will decide on the timing, method, and price of purchases based on market conditions. The new program is set to expire on December 31, 2022.
This initiative aims to enhance shareholder value while considering market dynamics.
The First Bancshares, Inc. (FBMS) reported a net income of $15.8 million for Q4 2021, down 2.1% from Q3. The decrease was influenced by one-time charges and lower PPP fee income. Year-over-year, net income rose 22.2% from $52.5 million in 2020 to $64.2 million in 2021. Notably, FBMS completed the acquisition of seven branches from Cadence Bank, adding $410.2 million in deposits. The Board declared a cash dividend of $0.17 per share, reflecting a 6% increase. Total assets surpassed $6 billion, making FBMS the 5th largest bank in Mississippi.
The First Bancshares, Inc. (NASDAQ: FBMS) announced its participation in the 2021 HOVDE Group Financial Services Conference from November 3 to 5, 2021, in Phoenix, Arizona. During this event, company representatives will hold one-on-one meetings with analysts and investors starting November 4, 2021. A presentation for these meetings will be accessible on the company’s website under Investor Relations. Headquartered in Hattiesburg, Mississippi, The First Bancshares operates in five states, including Mississippi, Louisiana, Alabama, Florida, and Georgia.
The First Bancshares, Inc. (FBMS) reported a net income of $16.1 million for Q3 2021, a 3.4% increase from Q2 2021 and a 35.4% increase year-over-year. Average loans, excluding PPP loans, rose by $9.0 million. Total interest income increased $1.2 million, while the cost of deposits decreased 23%, resulting in an increase in the net interest margin. The company also announced a cash dividend of $0.16 per share, payable on November 26, 2021. Nonperforming assets decreased 24% from Q2 2021, reflecting improved credit quality.
The First Bancshares and FHLB Dallas have collaborated to provide $60,500 through Habitat for Humanity to assist eleven first-time homeowners in location value="LU/us.ms.haturg"Hattiesburg, Mississippi, location value="LS/us.fl"Florida, and location value="LS/us.la"Louisiana. Each homeowner received a $5,500 subsidy as part of the Homebuyer Equity Leverage Partnership (HELP). The program aims to aid income-qualified individuals in overcoming barriers to homeownership including down payment assistance and closing costs.
The First Bancshares, Inc. (NASDAQ: FBMS) has signed an agreement to acquire seven Cadence Bank branches in Northeast Mississippi. This acquisition is part of a divestiture due to the merger between BancorpSouth (NYSE: BXS) and Cadence Bancorporation (NYSE: CADE), which was prompted by a DOJ Antitrust review. The First will assume approximately $450 million in deposits for a $1 million premium, and acquire about $42 million in loans at par value. The deal is expected to close in Q4 2021, subject to regulatory approvals.
The First Bancshares, Inc. (NASDAQ: FBMS) will participate in the 2021 Virtual KBW Community Bank Investor Conference from August 3-5, 2021. The event includes one-on-one meetings with bank stock analysts and investors.
The presentation for these meetings will be accessible on the company’s website under Investor Relations section. Founded in 1996 and based in Hattiesburg, Mississippi, The First operates across Mississippi, Louisiana, Alabama, Florida, and Georgia. More information is available at www.thefirstbank.com.
The First Bancshares, Inc. (FBMS) reported a net income available to common shareholders of $15.6 million for Q2 2021, marking a 6.3% decrease from Q1 2021. However, year-over-year net income grew by 27.7%, from $25.3 million in 2020 to $32.2 million in 2021. Total loans increased by $45.5 million (6.4% annualized), while nonperforming assets dropped by $8.7 million (19%). The Board declared a cash dividend of $0.15 per share, payable on August 25, 2021, with a record date of August 10, 2021.
The First Bancshares, Inc. (NASDAQ: FBMS) will participate in two upcoming virtual banking conferences. The Gulf South Bank Conference is scheduled from May 3-4, 2021, followed by the D.A. Davidson 23rd Annual Financial Institutions Virtual Conference on May 5-6, 2021. During these events, the company will hold one-on-one meetings with bank stock analysts and investors. Presentation materials for these meetings will be accessible on the company’s website under the Investor Relations section.
The First Bancshares, Inc. (NASDAQ: FBMS) will present at the 24th Annual Burkenroad Reports Investment Conference on April 23, 2021, at 10:00 a.m. Central Time. The event runs from 8:00 a.m. to 3:00 p.m. and is free for public attendance. Interested attendees can register through www.burkenroad.org. The presentation will also be livestreamed on the company's website and available for replay afterwards. Headquartered in Hattiesburg, Mississippi, The First Bancshares operates in multiple states and has been in business since 1996.