Profile: The First Bancshares Inc (FBMS.OQ)
7 Mar 2014
The First Bancshares, Inc., incorporated on June 23, 1995, serve as a bank holding company for The First, A National Banking Association (The First) located in Hattiesburg, Mississippi. As of December 31, 2011, the First operated its main office and two branches in Hattiesburg, one in Laurel, one in Purvis, one in Picayune, one in Pascagoula, one in Bay St. Louis, one in Wiggins and four in Gulfport, one in Biloxi, one in Long Beach and one in Diamondhead, Mississippi, as well as one branch in Bogalusa, Louisiana. The Company and its subsidiary bank engage in a general commercial and retail banking business. The First is a wholly owned subsidiary bank of the Company.
The Bank offers a range of deposit services, including checking accounts, negotiable order of withdrawal (NOW) accounts, savings accounts, and other time deposits of various types, ranging from daily money market accounts to longer-term certificates of deposit. In addition, the Bank offers certain retirement account services, such as Individual Retirement Accounts (IRAs). All deposit accounts are insured by the Federal Deposit Insurance Corporation (the FDIC). The Bank solicits these accounts from individuals, businesses, associations and organizations, and governmental authorities.
The Bank offers a range of commercial and personal loans. Commercial loans include both secured and unsecured loans for working capital (including loans secured by inventory and accounts receivable), business expansion (including acquisition of real estate and improvements), and purchase of equipment and machinery. Consumer loans include equity lines of credit and secured and unsecured loans for financing automobiles, home improvements, education, and personal investments. The Bank also makes real estate construction and acquisition loans.
Mortgage Loan Divisions and Other Services
The Bank has mortgage loan divisions, which originate loans to purchase existing or construct new homes and to refinance existing mortgages. Other bank services include on-line Internet banking services, voice response telephone inquiry service, commercial sweep accounts, cash management services, safe deposit boxes, travelers checks, direct deposit of payroll and social security checks, and automatic drafts for various accounts. The Bank is associated with the Interlink, Plus, Pulse, Star, and Community Cash networks of automated teller machines. The Bank also offers VISA and MasterCard credit card services through a correspondent bank.
The First Bancshares Inc
6480 U.S. HIGHWAY 98 WEST
HATTIESBURG MS 39402