The First Bancshares, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 25, 2023 at 04:28 pm EDT
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The First Bancshares, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 60.7 million compared to USD 49.15 million a year ago. Net income was USD 24.36 million compared to USD 14.04 million a year ago. Basic earnings per share from continuing operations was USD 0.78 compared to USD 0.61 a year ago. Diluted earnings per share from continuing operations was USD 0.77 compared to USD 0.61 a year ago.
For the nine months, net interest income was USD 191.66 million compared to USD 129.89 million a year ago. Net income was USD 64.41 million compared to USD 46.62 million a year ago. Diluted earnings per share from continuing operations was USD 2.04 compared to USD 2.17 a year ago.
The First Bancshares, Inc. is a bank holding company for The First Bank (the First). The Company is a community-focused financial institution that offers a full range of financial services to individuals, businesses, municipal entities and nonprofit organizations in the communities that it serves. These services include consumer and commercial loans, deposit accounts and safe deposit services. It offers a full range of deposit services that are available in banks and savings institutions, including checking accounts, NOW accounts, savings accounts, and other time deposits of various types, ranging from daily money market accounts to longer-term certificates of deposit. It offers a full range of commercial and personal loans. Commercial loans include both secured and unsecured loans for working capital, business expansion, purchase of equipment and machinery, and others. Its segments include the Commercial/Retail Bank, the Mortgage Banking Division, and the Holding Company.