The First Bancshares, Inc. (NASDAQ:FBMS), holding company for The First, A National Banking Association, ( www.thefirstbank.com) today reported earnings for the quarter ended March 31, 2012. The First Bancshares, Inc. also announced a quarterly dividend of $0.0375 per common share. The record date will be May 10, 2012 with a payable date of May 24, 2012.
Net income available to common shareholders for the three months ended March 31, 2012 amounted to $865,000, or $.28 per diluted share, compared to $415,000 or $.14 per diluted share for the same quarter in 2011, an increase of $450,000 or 108.4%.
M. Ray “Hoppy” Cole, President & Chief Executive Officer, commented, “Our franchise continues to grow and we are thrilled with our first quarter performance. We are beginning to see the impact of the Whitney branch acquisition on our operating results as evidenced by a substantial increase in earnings during the first quarter of 2012 compared to the same quarter in 2011. We believe that increased market share and improved scale will greatly enhance the value created for our shareholders.”
The following are key highlights for the three months ended March 31, 2012:
- Total assets increased $40.7 million or 6.0%
- Deposits increased $37.9 million or 6.6%
- Annualized return on average assets for the quarter ended March 31, 2012 was .50% as compared to .44% for the calendar year 2011
- Annualized return on average equity for the quarter ended March 31, 2012 was 5.67% as compared to 5.16% for the calendar year 2011
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV