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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, Inc. (FBSI) reported a net income of $1,020,000 for Q1 2022, down from $1,234,000 in Q1 2021. Earnings per share decreased to $0.39 from $0.47. Key metrics showed a 5.31% rise in net loans to $358.87 million and total assets increased to $457.94 million. However, total non-interest expenses rose by $273,000 due to employee salary increases related to a new branch. Despite regulatory compliance, capital decreased slightly to 9.58% of assets, influenced by cash dividends and market losses.
First Bancshares, Inc. (FBSI) declared an annual cash dividend of $0.30 per share on its common stock. The dividend will be payable on April 1, 2022, to shareholders of record as of March 15, 2022. This announcement demonstrates the company’s commitment to providing returns to its shareholders. First Bancshares operates Stockmens Bank, which offers full-service operations in Colorado and Missouri, highlighting its geographic reach and service capacity.
First Bancshares, Inc. (FBSI) reported a net income of $1.38 million for Q4 2021, up from $1.02 million in Q4 2020, translating to $0.54 per share diluted. For the year 2021, net income reached a record $5.09 million, a 29% increase year-over-year. Total assets grew to $445.09 million, and net loans increased by 16.90% to $340.77 million. The allowance for loan losses stood at 1.59% of total gross loans. Both Q4 and annual results were driven by increased net interest income, which rose $2.47 million for the year, despite higher non-interest expense and tax burdens.
First Bancshares, Inc. (FBSI) reported a net income of $1.335 million or $0.52 per diluted share for Q3 2021, up from $1.049 million or $0.39 per diluted share in Q3 2020. Year-to-date net income reached $3.72 million, a 27% increase compared to $2.93 million in 2020. Total assets grew to $420.71 million, with net loans increasing by 17.63% to $342.90 million. Despite solid performance, management anticipates challenges from interest rate volatility affecting margins.
First Bancshares, Inc. (FBSI) reported a net income of $1,147,000, or $0.44 per share-diluted, for Q2 2021, up from $1,040,000 in Q2 2020. Year-to-date, net income reached $2,381,000, with significant contributions from a $612,000 rise in net interest income. Total assets increased to $423.25 million, with net loans rising by 9.88% and deposits by 5.24%. However, management anticipates challenges in the interest rate environment impacting future margins. The bank remains compliant with regulatory capital requirements.
First Bancshares, Inc. (FBSI) reported a net income of $1,234,000 or $0.47 per share-diluted for Q1 2021, marking a $397,000 increase compared to Q1 2020. The rise in net income is attributed to a $317,000 boost in net interest income, despite a $16,000 rise in non-interest expenses. Total assets grew to $418.26 million, with net loans increasing by 7.03% to $311.98 million and total deposits up by 3.97% to $370.61 million. However, management anticipates future pressure on the net interest margin due to market volatility.
First Bancshares, Inc. (FBSI) reported a net income of $1,049,000 or $0.40 per share for Q3 2020, a slight increase from $997,000 or $0.39 per share in Q3 2019. Year-to-date income reached $2.93 million or $1.11 per share, up from $2.77 million or $1.09 per share last year. Total assets grew to $402.22 million, with net loans up 11.46% and total deposits rising 14.26%. However, total capital increased modestly, and net interest margin may face future pressures due to market volatility.