First Bancshares, Inc. Announces Operating Results for Quarter Ended June 30, 2025

Rhea-AI Summary

First Bancshares (OTCQX:FBSI) reported strong Q2 2025 financial results with net income of $1.824 million ($0.75 per diluted share), up from $1.63 million ($0.67 per share) in Q2 2024. The company achieved an impressive 1.36% return on assets and 11.82% return on equity.

The bank demonstrated solid growth across key metrics, with total assets increasing by $27.3 million to $544.1 million. Notable improvements include a $13 million increase in cash equivalents to $55.8 million, $15.9 million growth in net loans to $445.3 million, and a $13.4 million rise in deposits to $468.3 million. Stockholders' equity grew by $6.3 million to $62.3 million.

Positive

• None.

Negative

• $7.5M increase in assets due to arbitrage play rather than core business growth

MOUNTAIN GROVE, Mo., July 11, 2025 (GLOBE NEWSWIRE) -- First Bancshares, Inc. (OTCQX: FBSI) (“Company”), the holding company for Stockmens Bank (“Bank”), today announced its unaudited financial results for the quarter ended June 30, 2025.

For the second quarter of 2025, the Company reported after-tax net income of $1,824,000 or $0.75 per share-diluted compared to $1,630,000 or $0.67 per share-diluted for the same period in 2024. Net income for the second quarter of 2025 represents an after-tax return on average assets of 1.36% and an after-tax return on equity of 11.82%. These earnings ratios repeated their recent trend of outperformance despite an atypical $7.5 million increase in asset size due to an arbitrage play and strategic stockpiling of capital reserves.

Since June 30, 2024, the Company experienced growth in all major balance sheet categories aside from investment securities with consolidated total assets increasing $27.3 million to $544.1 million, cash & cash equivalents increasing $13.0 million to $55.8 million, and net loans receivable increasing $15.9 million to $445.3 million. Total deposits increased $13.4 million to $468.3 million, and stockholders’ equity increased $6.3 million to $62.3 million.

Through the second quarter of 2025, the Company has made significant efforts to fortify its balance sheet. Liquidity remains robust with excess cash being deployed into high-quality loan assets, earning asset yields rose, costs of funds has been kept in check, asset quality improved from already impressive levels, and capital ratios developed to a level that affords the Company the flexibility to pursue growth opportunities as they arise.

The Bank meets all regulatory requirements for “well-capitalized” status.

About the Company

First Bancshares, Inc. is the holding company for Stockmens Bank, a FDIC-insured commercial bank chartered by the State of Colorado that conducts business from its home office in Colorado Springs, Colorado, and eight full-service Missouri offices in Mountain Grove, Marshfield, Ava, Kissee Mills, Gainesville, Crane, Hartville and Springfield, and full-service offices in Bartley, Nebraska and Akron, Colorado.

Cautionary Note Regarding Forward-Looking Statements

The Company and its wholly owned subsidiary, Stockmens Bank, may from time to time make written or oral “forward-looking statements” in its reports to shareholders, and in other communications by the Company, which are made in good faith by the Company pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995.

These forward-looking statements include statements with respect to the Company’s beliefs, expectations, estimates and intentions that are subject to significant risks and uncertainties, and are subject to change based on various factors, some of which are beyond the Company’s control. Such statements address the following subjects: future operating results; customer growth and retention; loan and other product demand; earnings growth and expectations; new products and services; credit quality and adequacy of reserves; results of examinations by our bank regulators, technology, and our employees. The following factors, among others, could cause the Company’s financial performance to differ materially from the expectations, estimates and intentions expressed in such forward-looking statements: the strength of the United States economy in general and the strength of the local economies in which the Company conducts operations; the effects of, and changes in, trade, monetary, and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; inflation, interest rate, market, and monetary fluctuations; the timely development and acceptance of new products and services of the Company and the perceived overall value of these products and services by users; the impact of changes in financial services’ laws and regulations; technological changes; acquisitions; changes in consumer spending and savings habits; and the success of the Company at managing and collecting assets of borrowers in default and managing the risks of the foregoing.

The foregoing list of factors is not exclusive. The Company does not undertake, and expressly disclaims any intent or obligation, to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.

Contact: Robert M. Alexander, Chairman and CEO - (719) 955-2800

First Bancshares, Inc. and Subsidiaries
Financial Highlights
(unaudited)
(In thousands, except per share amounts)
			Quarter Ended								Six Months Ended
			June 30,								June 30,
				2025			2024				2025				2024
Operating Data:
Total interest income			$	8,407			$	8,013			$	16,371			$	16,154
Total interest expense				2,411				2,689				4,721				5,486
	Net interest income			5,996				5,324				11,650				10,668
Provision for credit losses				61				141				239				343
	Net interest income after provision for credit losses			5,935				5,183				11,411				10,325
Gain (loss) on sale of investments				-				-				-				-
Non-interest income				474				410				835				786
Non-interest expense				4,014				3,434				7,597				6,757
Income before taxes				2,395				2,159				4,649				4,354
Income tax expense				571				529				1,133				1,071
	Net income		$	1,824			$	1,630			$	3,516			$	3,283
	Earnings per share		$	0.75			$	0.67			$	1.46			$	1.35
			At				At				At
			June 30,				December 31,				June 30,
Financial Condition Data:				2025				2024				2024
Cash and cash equivalents			$	55,758			$	68,570			$	42,769
	(excludes CDs)
Investment securities				13,421				13,066				12,966
	(includes CDs)
Loans receivable, net				445,372				423,657				429,444
Goodwill and intangibles				1,443				1,515				1,586
Total assets				544,072				537,885				516,784
Deposits				468,345				472,596				454,992
Repurchase agreements				1,102				1,084				1,601
Borrowings				7,500				-				-
Stockholders' equity				62,336				59,562				56,037
Book value per share			$	25.68			$	24.53			$	23.08

FAQ

What was First Bancshares (FBSI) earnings per share for Q2 2025?

First Bancshares reported earnings of $0.75 per diluted share for Q2 2025, compared to $0.67 per share in Q2 2024.

How much did First Bancshares (FBSI) total deposits grow in Q2 2025?

First Bancshares' total deposits increased by $13.4 million to reach $468.3 million.

What was First Bancshares (FBSI) return on assets and equity in Q2 2025?

The company achieved a 1.36% return on assets and an 11.82% return on equity.

How much did First Bancshares (FBSI) total assets grow compared to June 2024?

First Bancshares' total assets increased by $27.3 million to $544.1 million compared to June 30, 2024.

What was First Bancshares (FBSI) net income for Q2 2025?

First Bancshares reported net income of $1.824 million for Q2 2025, up from $1.63 million in Q2 2024.