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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The First Bancshares, Inc. Reports 3rd Quarter 2012 Earnings And Declaration Of Dividend

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 September 30, 2012. The First Bancshares, Inc. also announced a quarterly dividend of $.0375 per common share. The record date will be November 8, 2012 with a payable date of November 26, 2012.

Net income available to common stockholders for the three months ended September 30, 2012 amounted to $766,000, or $.24 per diluted share, compared to $660,000, or $.21 per diluted share for the same quarter in 2011, an increase of $106,000 or 16.1%.

Net income available to common stockholders for the nine months ended September 30, 2012 amounted to $2,561,000, or $.82 per diluted share, compared to $1,660,000, or $.54 per diluted share for the same period in 2011, an increase of $901,000 or 54.3%.

M. Ray “Hoppy” Cole, President & Chief Executive Officer, commented, “Although the economy remains challenging, our company continues to perform well. We have been successful in growing the company both in terms of size and profitability. Total assets increased 6.5% to $725.7 million during the first 9 months of 2012 and earnings per share is up 52% year over year. We appreciate the hard work and commitment of our team members and the support of our customers and shareholders.”

The following are key highlights for the nine months ended September 30, 2012:

  • Assets grew 6.5% to $725.7 million
  • Loans increased 1.3% to $393.0 million
  • Deposits increased 8.5% to $621.9 million
  • Annualized return on average assets increased to .49% during the nine month period from .44% for the calendar year 2011
  • Annualized return on average equity increased to 5.43% during the nine month period from 5.16% for the calendar year 2011

Net Interest Income and Non-Interest Income

Net interest income for the quarter ended September 30, 2012, was $5.4 million, a $0.7 million increase compared to the third quarter of 2011. This improvement was a result of increased loan volume and increased securities as well as lower funding costs.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,085.41 -1.22 -0.01%
S&P 500 1,989.92 +2.91 0.15%
NASDAQ 4,478.7060 +5.0090 0.11%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs