First Bancshares, Inc. Announces Operating Results for the Quarter Ended September 30, 2026

Quarterly loan and deposit growth was organic, while the Westcliffe branch contributed a full quarter of operations.

Rhea-AI Summary

First Bancshares (OTCQX: FBSI) reported third-quarter 2026 net income of $2.559 million, marking its sixth consecutive quarter of record earnings. Diluted earnings per share were $1.05, versus $0.83 a year earlier; net income increased from $2.008 million. Nine-month net income reached $6.814 million, versus $5.524 million, with diluted earnings of $2.82 versus $2.29.

Quarterly net interest income rose 26.9%, and net interest margin expanded to 4.87% from 4.62%. At September 30, assets were $685.7 million, net loans $582.2 million and deposits $596.0 million. Equity reached $75.1 million, including approximately $3.2 million raised to support expansion. Nonaccrual loans fell 42.8% year over year to $831,000. Quarterly non-interest expense rose to $4.707 million from $3.748 million. The company attributed higher credit-loss provisions to loan growth rather than credit deterioration. Results are unaudited.

21 points · 0 major

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0 major · 9 points

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Positive

• Moderate pointThird-quarter net income reached $2.559 million versus $2.008 million a year earlier; diluted EPS rose to $1.05 from $0.83.
• Moderate pointQuarterly net interest income increased 26.9% to $7.938 million; nine-month income rose to $21.483 million from $17.904 million.
• Moderate pointNet interest margin expanded to 4.87% from 4.62% in the prior-year quarter.
• Moderate pointNine-month efficiency ratio improved to 56.7% from 59.3%, despite acquisition-related expenses.
• Moderate pointNet loans grew 25.0% year over year to $582.2 million, including $34.3 million of organic third-quarter growth.
• Moderate pointDeposits grew 20.8% year over year to $596.0 million, including $31.1 million of organic third-quarter growth.
• Moderate pointTotal assets increased 19.8% year over year to $685.7 million.
• Moderate pointEquity capital raised totaled approximately $3.2 million from core shareholders to support expansion into new markets. 3.9% of market cap
• Moderate pointNonaccrual loans, which are not accruing interest, declined 42.8% year over year to $831,000, or 0.14% of net loans.
• Moderate pointThe Westcliffe acquisition and new Hugo branch expanded the Colorado footprint.

11 minor points

• Minor pointNine-month net income rose to $6.814 million from $5.524 million; diluted EPS increased to $2.82 from $2.29.
• Minor pointCost of funds decreased to 1.77% from 2.01% in the prior-year quarter.
• Minor pointQuarterly annualized after-tax return on assets reached 1.53%, versus 1.37% in Q2 and 1.43% a year earlier.
• Minor pointQuarterly annualized after-tax return on equity reached 14.18%, versus 12.38% in Q2 and 12.57% a year earlier.
• Minor pointStockholders’ equity rose 16.6% year over year to $75.1 million.
• Minor pointBook value per share increased to $29.82 from $26.55 a year earlier.
• Minor pointCredit-loss allowance equaled 1.56% of loans, more than ten times the nonaccrual-loan balance.
• Minor pointThe Bank meets all regulatory requirements for well-capitalized status.
• Minor pointQuarterly non-interest income rose to $416,000 from $391,000 a year earlier.
• Minor pointNine-month investment-sale gains totaled $150,000, versus none a year earlier.
• Minor pointQuarterly income tax expense decreased to $642,000 from $662,000 a year earlier.

Negative

• Moderate pointNon-interest expense rose to $4.707 million from $3.748 million quarterly and $12.810 million from $11.345 million year-to-date.
• Moderate pointCredit-loss provisions rose to $446,000 from $227,000 quarterly and $1.119 million from $466,000 year-to-date; the company cites loan growth.
• Minor pointInterest expense increased 7.0% to $2.673 million quarterly; nine-month expense rose to $7.263 million from $7.220 million.
• Minor pointNine-month non-interest income declined to $1.108 million from $1.226 million a year earlier.
• Minor pointNine-month income tax expense increased to $1.998 million from $1.795 million a year earlier.

4 minor points

• Minor pointPast-due loans totaled $767,000, or 0.13% of net loans.
• Minor pointCash and cash equivalents, excluding CDs, declined to $57.554 million from $62.891 million a year earlier.
• Minor pointInvestment securities, including CDs, declined to $7.198 million from $12.149 million a year earlier.
• Minor pointRepurchase-agreement obligations increased to $1.577 million from $1.100 million a year earlier.

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MOUNTAIN GROVE, Mo., Oct. 09, 2026 (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 September 30, 2026.

For the third quarter of 2026, the Company reported after-tax net income of $2,559,000 or $1.05 per share-diluted compared to $2,008,000 or $0.83 per share-diluted for the same period in 2025. For the nine months ended September 30, 2026, net income was $6,814,000 or $2.82 per share-diluted, compared to $5,524,000 or $2.29 per share-diluted for the same period in 2025. Third quarter net income and earnings per share were Company records, marking the sixth consecutive quarter of record earnings and reflecting continued improvement in core operations that began well before the recent expansion activity. Net interest income increased 26.9% over the prior-year quarter on strong loan growth. Interest expense increased only 7.0% despite 20.8% deposit growth, reducing cost of funds to 1.77% from 2.01% and expanding net interest margin to 4.87% from 4.62%. The efficiency ratio improved to 56.7% for the first nine months of 2026 from 59.3% for the same period in 2025, despite acquisition-related expenses. With the Westcliffe, CO branch now contributing a full quarter, the annualized after-tax return on assets rebounded to 1.53% from 1.37% in the second quarter, and the annualized after-tax return on equity rebounded to 14.18% from 12.38%. Both of those ratios exceed the 1.43% and 12.57% reported for the third quarter of 2025.

Since September 30, 2025, consolidated total assets increased 19.8% to $685.7 million and net loans receivable increased 25.0% to $582.2 million. The deposit portfolio remains core in nature, with no brokered deposits, and grew 20.8% to $596.0 million. Third quarter growth was organic, with net loans increasing $34.3 million and deposits increasing $31.1 million from June 30, 2026. Stockholders’ equity rose 16.6% to $75.1 million, which includes approximately $3.2 million of equity capital raised from the Company’s core shareholder group to support expansion into new markets, and the Company continues to carry no holding company debt.

Asset quality remains at exceptionally low levels. Nonaccrual loans declined 42.8% from a year ago to $831,000, or 0.14% of net loans, and loans past due totaled $767,000, or 0.13% of net loans. The allowance for credit losses stands at 1.56% of loans, more than ten times the balance of nonaccrual loans, and the increase in the provision for credit losses reflects loan growth rather than credit deterioration. Together with the de novo branch in Hugo, Colorado, the Westcliffe acquisition has expanded the Company’s Colorado footprint and franchise value, while the third quarter results demonstrate the earnings capacity of the combined organization.

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

About the Company

First Bancshares, Inc. is the holding company for Stockmens Bank, an FDIC-insured, Colorado state-chartered commercial bank headquartered in Colorado Springs. The bank operates full-service offices in Hugo, Akron, and Westcliffe, Colorado; Bartley, Nebraska; and eight Missouri communities: Mountain Grove, Marshfield, Ava, Kissee Mills, Gainesville, Crane, Hartville, and Springfield.

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								Nine Months Ended
		September 30,								September 30,
			2026				2025				2026				2025
Operating Data:
Total interest income		$	10,611			$	8,753			$	28,746			$	25,124
Total interest expense			2,673				2,499				7,263				7,220
Net interest income			7,938				6,254				21,483				17,904
Provision for credit losses			446				227				1,119				466
Net interest income after provision for credit losses			7,492				6,027				20,364				17,438
Gain (loss) on sale of investments			-				-				150				-
Non-interest income			416				391				1,108				1,226
Non-interest expense			4,707				3,748				12,810				11,345
Income before taxes			3,201				2,670				8,812				7,319
Income tax expense			642				662				1,998				1,795
Net income		$	2,559			$	2,008			$	6,814			$	5,524
Earnings per share		$	1.05			$	0.83			$	2.82			$	2.29
		At				At				At
		September 30,				December 31,				September 30,
Financial Condition Data:			2026				2025				2025
Cash and cash equivalents (excludes CDs)		$	57,554			$	20,879			$	62,891
Investment securities (includes CDs)			7,198				10,605				12,149
Loans receivable, net			582,219				501,445				465,821
Goodwill and intangibles			6,366				1,431				1,431
Total assets			685,651				564,556				572,251
Deposits			596,008				484,872				493,195
Repurchase agreements			1,577				1,162				1,100
Borrowings			7,500				7,500				7,500
Stockholders' equity			75,134				66,188				64,423
Book value per share		$	29.82			$	27.43			$	26.55

FAQ

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What were First Bancshares’ third-quarter 2026 earnings?

First Bancshares reported $2.559 million in net income and $1.05 in diluted earnings per share, compared with $2.008 million and $0.83 in the third quarter of 2025. Quarterly net income and earnings per share were company records, marking the sixth consecutive quarter of record earnings.

How much did First Bancshares’ loans and deposits grow in the third quarter of 2026?

Net loans increased $34.3 million and deposits increased $31.1 million from June 30, 2026, with third-quarter growth organic. At September 30, net loans totaled $582.2 million and deposits totaled $596.0 million.

Did First Bancshares have brokered deposits or holding-company debt at September 30, 2026?

First Bancshares had no brokered deposits and no holding-company debt. Separately, consolidated borrowings were $7.500 million, unchanged from December 31, 2025, and September 30, 2025.