Net loans receivable decreased $1.4 million, or 1.5%, to $94.1 million at December 31, 2012 from $95.5 million at June 30, 2012. Deposits decreased $4.2 million, or 2.5%, to $161.7 million at December 31, 2012 from $165.9 million at June 30, 2012. Retail repurchase agreements, which are included in borrowed funds, decreased $900,000, or 14.1%, to $5.5 million at December 31, 2012 from $6.4 million at June 30, 2012.
First Bancshares, Inc. is the holding company for First Home Savings Bank, a FDIC insured savings bank chartered by the State of Missouri that conducts business from its home office in Mountain Grove, Missouri and eight full service offices in Marshfield, Ava, Gainesville, Sparta, Springfield, Crane, Kissee Mills and Rockaway Beach, Missouri.
The Company and its wholly-owned subsidiary, First Home Savings Bank, may from time to time make written or oral "forward-looking statements," including statements contained in its filings with the Securities and Exchange Commission, in its reports to stockholders, and in other communications by the Company, which are made in good faith by the Company pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements include statements with respect to the Company's beliefs, expectations, estimates and intentions that are subject to significant risks and uncertainties, and are subject to change based on various factors, some of which are beyond the Company's control. Such statements address the following subjects: future operating results; customer growth and retention; loan and other product demand; earnings growth and expectations; new products and services; credit quality and adequacy of reserves; results of examinations by our bank regulators, our compliance with the Company's Order to Cease and Desist and the Bank's Agreement with the Director of the Division of Finance of the State of Missouri, technology, and our employees. The following factors, among others, could cause the Company's financial performance to differ materially from the expectations, estimates and intentions expressed in such forward-looking statements: the strength of the United States economy in general and the strength of the local economies in which the Company conducts operations; the effects of, and changes in, trade, monetary, and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; inflation, interest rate, market, and monetary fluctuations; the timely development and acceptance of new products and services of the Company and the perceived overall value of these products and services by users; the impact of changes in financial services' laws and regulations; technological changes; acquisitions; changes in consumer spending and savings habits; and the success of the Company at managing and collecting assets of borrowers in default and managing the risks of the foregoing.