This Day On The Street
Continue to site right-arrow
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 Record 2012 Net Income And Declaration Of Dividend

Stocks in this article: FBMS

The First Bancshares, Inc. (NASDAQ:FBMS), holding company for The First, A National Banking Association, ( today reported earnings for the quarter and the year ended December 31, 2012. The First Bancshares, Inc. also announced a quarterly dividend of $0.0375 per common share. The record date will be February 13, 2013 with a payable date of February 28, 2013.

Net income of $4,048,000 for the year ended December 31, 2012, exceeded a previous high of $3,823,000 set back in 2007.

Net income available to common shareholders for the year ended December 31, 2012, increased to $3,624,000, or $1.16 per diluted share, a 43.3% increase from the $2,529,000, or $.82 per diluted share reported for the year ended December 31, 2011.

Net income available to common shareholders for the three months ended December 31, 2012 amounted to $1,062,000, or $.34 per diluted share, compared to $869,000 or $.28 per diluted share for the same quarter in 2011, an increase of $193,000 or 22.2%.

M. Ray “Hoppy” Cole, President & Chief Executive Officer, commented, “We are pleased to report that our Company achieved record net income during 2012. Our record performance is the result of the dedication and commitment of our team members and the support of our local communities. We believe the Company is well positioned for future growth and look forward to the opportunities available in 2013 to increase our shareholders value.”

The following are key highlights for the last twelve months ended December 31, 2012:

  • Total assets increased to $721.4 million ranking The First the 12 th largest bank headquartered in MS
  • Loans, net of unearned interest increased $25.8 million or 6.6% to $413.7 million for the year ended December 31, 2012
  • Deposits increased $23.2 million or 4.1% to $596.6 million for the year ended December 31, 2012

Net Interest Income and Non-Interest Income

Net interest income for the quarter ended December 31, 2012 increased to $5.8 million compared to $5.6 million for the same quarter in 2011. Net interest income for the twelve months ended December 31, 2012 increased to $22.2 million compared to $19.1 million for the twelve months ended December 31, 2011. These increases were 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!

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 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • 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