This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The First Bancshares, Inc. Reports 1st Quarter Earnings And Declaration Of Dividend

The First Bancshares, Inc. (NASDAQ:FBMS), holding company for The First, A National Banking Association, ( today reported earnings for the quarter ended March 31, 2011. The First Bancshares, Inc. also announced a quarterly dividend of $0.0375 per common share. The record date will be May 12, 2011 with a payable date of May 26, 2011.

Net income available to common shareholders for the three months ended March 31, 2011 amounted to $415,000, or $.14 per diluted share, compared to $460,000 or $.15 per diluted share for the same quarter in 2010, a decrease of $45,000 or 9.8%.

M. Ray “Hoppy” Cole, President & Chief Executive Officer, commented, “Our first quarter results show continued improvement in profitability and growth. Total assets, total loans and total deposits increased and our net interest margin improved during the first three months of 2011. Our Company’s earnings also improved after adjusting for the one-time expenses incurred during the quarter. We are pleased with the Company’s progress and remain committed to our strategy of safe, sound, profitable growth.”

The following are key highlights for the three months ended March 31, 2011:
  • Total assets increased $38.2 million or 7.6%
  • Loans, net of unearned interest increased $4.2 million or 1.3%
  • Deposits increased $38.2 million or 9.6%
  • Completed construction of 9,000 square foot branch facility in Gulfport, MS

Net Interest Income and Non-Interest Income

Net interest income for the quarter ended March 31, 2011 increased to $4.3 million compared to $3.8 million for the same quarter in 2010. This increase was a result of increased loan volume, and lower funding costs. Net interest margin for the quarter ended March 31, 2011 was 3.65% as compared to 3.60% for the calendar year 2010.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs