United States

Profile: First Bancshares Inc (FBMS.OQ)

FBMS.OQ on NASDAQ Stock Exchange Global Market

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The First Bancshares, Inc., incorporated on June 23, 1995, is a bank holding company for The First, A National Banking Association (the Bank). The Company and the Bank engage in a general commercial and retail banking business for small to medium-sized businesses, professional concerns and individuals. The Bank provides a range of banking services in its primary market area of South Mississippi, South Alabama and Louisiana.

Lending Activities

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. It also makes real estate construction and acquisition loans. As of December 31, 2016, the Bank's total loans were $872.93 million.

Investment Activities

The Banks' investment securities portfolio is categorized into available-for-sale and held-to-maturity. The Bank primarily invests in securities of the United States Government agencies and mortgage-backed securities; states and municipal subdivisions; corporate obligations, and mutual funds. As of December 31, 2016, the Banks' total available-for-sale securities were $244.87 million. The Bank's held-to-maturity securities include the United States Government agencies, and states and municipal subdivisions. As of December 31, 2016, the Banks' total held-to-maturity securities were $6 million.

Sources of Funds

The Bank offers a range of deposit services, including noninterest-bearing accounts, negotiable order of withdrawal (NOW) accounts, money market accounts, savings accounts, time deposits less than $100,000 and time deposits of $100,000 or over. As of December 31, 2016, the Bank's total deposits were $1,039.2 billion. Borrowed funds consist of advances from the Federal Home Loan Bank (FHLB) of Dallas, federal funds purchased and reverse repurchase agreements.

Company Address

First Bancshares Inc

6480 U S Highway 98
HATTIESBURG   MS   39402-8417
P: +1601.2688998
F: +1601.2688904

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