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!

First Bancshares, Inc. Announces Second Quarter Fiscal 2013 Results

MOUNTAIN GROVE, Mo., Jan. 18, 2013 (GLOBE NEWSWIRE) -- First Bancshares, Inc. (OTCQB:FBSI), the holding company for First Home Savings Bank ("Bank"), today announced its financial results for the second quarter of its fiscal year ending June 30, 2013. All data as of December 31, 2012 and for the three and six months then ended are unaudited.

For the quarter ended December 31, 2012, the Company had a net loss of $398,000, or $0.26 per share - diluted, compared to a net loss of $662,000, or $0.43 per share - diluted for the quarter ended December 31, 2011. The decrease in net loss for the quarter ended December 31, 2012 compared to the quarter ended December 31, 2011 is attributable to a $572,000 increase in non-interest income. This increase is partially offset by a $348,000 increase in non-interest expense.

During the quarter ended December 31, 2012, net interest income decreased by $81,000 or 6.3%, to $1.2 million from $1.3 million during the quarter ended December 31, 2011. The decrease was the result of a decrease in interest income of $150,000, or 9.0%, which was partially offset by a decrease in interest expense of $69,000, or 18.1%. The decrease in both interest income and interest expense was primarily the result of a decrease in market interest rates between the two periods.

During the quarter ended December 31, 2012, there was no provision for loan losses, compared to a provision of $18,000 during the quarter ended December 31, 2011. The allowance for loan losses was $1.7 million, or 1.8% of gross loans at December 31, 2012.

During the quarter ended December 31, 2012, there were no gains or losses on the sale of investments, compared to a loss of $18,000 on the sale of investments during the quarter ended December 31, 2011.

Non-interest income increased by $572,000 to $244,000 during the quarter ended December 31, 2012 from a loss of $328,000 during the quarter ended December 31, 2011. This change was the result of a decrease in loss on sale of property and equipment of $574,000 and an increase in other non-interest income of $14,000. This was partially offset by a decrease in service charge and fee income of $16,000.

1 of 5

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 17,001.22 -38.27 -0.22%
S&P 500 1,988.40 -3.97 -0.20%
NASDAQ 4,538.5510 +6.4470 0.14%

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