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.
The First Bancshares, Inc. (FBMS) reported a net income of $16.6 million for Q1 2021, reflecting an increase of 8.5% from the previous quarter and 100.3% year-over-year. Pre-tax, pre-provision operating earnings rose 20.2% to $21.4 million. Notably, provision for credit losses fell to $0 compared to $3.5 million last quarter. Assets grew to $5.443 billion, with total average deposits increasing 5.1% sequentially. The Board declared a cash dividend of $0.14 per share, payable May 25, 2021.
The First Bancshares, Inc. (FBMS) reported a net income of $15.3 million for Q4 2020, marking a 28.7% increase from Q3 2020 and a 29.4% rise from Q4 2019. Operating earnings rose 14.4% sequentially to $13.8 million. The company saw a 572.8% increase in loan loss provisions year-over-year, totaling $25.2 million. Total assets decreased by $11.4 million to $5.153 billion, while total average deposits grew 41.6% year-over-year. A cash dividend of $0.13 per share was declared for payment on February 25, 2021.
The First Bancshares, Inc. (NASDAQ: FBMS) has extended its offer to exchange $65 million of 4.25% Fixed-to-Floating Rate Subordinated Notes due 2030. Originally set to expire on January 20, 2021, the new deadline is January 28, 2021. As of the previous deadline, $64.5 million, or approximately 99%, of the Old Notes had been tendered. The exchange is managed by U.S. Bank National Association. The notes are not insured by the FDIC or any government agency.
The First Bancshares, Inc. (NASDAQ: FBMS) has announced a new share repurchase program for 2021, allowing the Company to repurchase up to $30 million of its common stock. The actual purchase timing and method will be determined at management's discretion, considering market conditions and legal regulations. This program expires on December 31, 2021. The First Bancshares operates across multiple states and focuses on maintaining strong earnings and capital amid ongoing economic challenges.
The First Bancshares, Inc. (FBMS) reported a net income of $11.9 million for Q3 2020, a decrease of 2.9% from Q3 2019. Average loans rose by $9.1 million, while average deposits increased by $143.2 million. The provision for loan losses totaled $6.9 million, influenced by COVID-19, marking a significant increase from prior year figures. The company declared a cash dividend of $0.12 per share, payable on November 24, 2020. The total assets increased to $5.164 billion and nonperforming assets decreased to $44.9 million. The earnings per share were $0.55, down from $0.71 in the same quarter last year.