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First Bancshares, Inc. reports recurring developments as the holding company for Stockmens Bank, an FDIC-insured commercial bank chartered by the State of Colorado. News about FBSI centers on quarterly and annual operating results, including net income, loan balances, deposits, net interest margin, efficiency, liquidity, asset quality and capital levels.
Company updates also cover annual cash dividends on common stock, regulatory capital status and branch-based banking activity across Stockmens Bank offices in Colorado, Missouri and Nebraska. The reporting emphasizes relationship deposit funding, loan deployment, stockholders’ equity and the bank’s well-capitalized status.
First Bancshares, the holding company for Stockmens Bank, released its financial results for Q2 2024. The company reported a net income of $1.63 million or $0.67 per diluted share, down from $1.735 million or $0.71 per diluted share in Q2 2023. For the first half of 2024, net income was $3.283 million or $1.35 per diluted share, compared to $3.522 million or $1.44 per diluted share for the same period in 2023. Key changes included a $371,000 increase in net interest income, a $156,000 decrease in income tax expense, but were offset by a $28,000 decrease in non-interest income, a $402,000 increase in non-interest expenses, and a $336,000 extraordinary income in January 2023. Total assets saw a 4.58% decrease to $516.78 million, and total deposits decreased 3.60% to $454.99 million since year-end 2023. Net loans increased 2.73% to $429.44 million, and GAAP capital grew 4.56% to $56.04 million. The Bank remains well-capitalized by regulatory standards.
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First Bancshares, Inc. (OTCQX: FBSI) reported a strong financial performance for the quarter ending March 31, 2023, achieving a net income of $1,787,000, equating to $0.73 per share-diluted, up from $1,020,000 or $0.42 per share in 2022. Key metrics include a $1,087,000 rise in net interest income after provisions for loan losses and a 6.06% increase in total assets to $500.17 million. Total deposits grew by 3.33% to $434.65 million, while net loans rose 2.37% to $414.79 million. Despite facing challenges like wage inflation and market competition, the company improved its net interest margin and efficiency ratio. The Bank maintains a “well-capitalized” status according to regulatory standards.
First Bancshares (OTCQX: FBSI) declared an annual cash dividend of $0.30 per share on March 10, 2023. This dividend is payable on April 15, 2023, to shareholders of record by the close of business on April 1, 2023. The company operates Stockmens Bank, with its headquarters in Colorado Springs and additional offices in Missouri and Nebraska, providing essential financial services.
First Bancshares, Inc. (FBSI) reported its financial results for Q4 and FY 2022, with a net income of $1,195,000 ($0.49 per share) for the quarter, down from $1,378,000 ($0.54 per share) in Q4 2021. However, the year-to-date net income increased to $5,283,000 ($2.16 per share) from $5,093,000 ($1.96 per share) in 2021. Key metrics include a 5.96% rise in total assets to $471.58 million and an 18.90% increase in net loans to $405.19 million. Non-interest expenses surged by $1,118,000, driven by inflationary pressures. Despite challenges, the company maintains a well-capitalized status, with total capital at $47.59 million, 10.09% of total assets.
First Bancshares, Inc. (FBSI) reported financial results for Q3 2022, revealing a net income of $1,667,000, or $0.68 per share-diluted, up from $1,335,000 or $0.52 per share-diluted in Q3 2021. Year-to-date net income rose to $4,088,000, compared to $3,715,000 last year. Key performance indicators show a 15.49% increase in net loans, totaling $393.54 million, and a 6.08% rise in total deposits to $420.64 million. However, non-interest expenses increased, attributed to new branches and competitive personnel costs. Consolidated total assets reached $473.75 million.