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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.
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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.
First Bancshares, Inc. (FBSI) reported a net income of $1,401,000 for Q2 2022, or $0.57 per share-diluted, showing a year-over-year increase from $1,147,000 ($0.44 per share-diluted) in Q2 2021. Year-to-date net income totaled $2,421,000, compared to $2,381,000 in 2021. Net interest income rose by $617,000, while non-interest expenses increased by $372,000 due to new branches and market competition. Total assets reached $460.28 million, with net loans up 11.21% to $378.97 million. The company maintains a solid capital ratio of 9.80%. Market volatility has led to unrealized losses in securities.