This Day On The Street
Continue to site
ADVERTISEMENT
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

First Bancshares, Inc., Announces Signing Of A Definitive Agreement To Acquire First National Bank Of Baldwin County

Executives of The First Bancshares, Inc. (Nasdaq: FBMS), announced today that The First Bancshares, Inc. has entered into a definitive agreement to acquire First National Bank of Baldwin County.

The First (a national banking association, a subsidiary of First Bancshares, Inc.) President & CEO M. Ray “Hoppy” Cole Jr., said, “From day one our focus has been on growing our bank in the gulf coast region, and providing customers a true community bank with personal service. We are excited about expanding our services to south Alabama and growing with this dynamic area .

The definitive agreement that was announced today will expand The First across the gulf coast providing five new branches and our customers a total of 23 convenient locations from Mississippi, Louisiana to south Alabama.

Upon completion of the transaction the First will grow to approximately $905 million in assets and approximately $780 million in deposits.

W. Wade Neth, President & CEO of First National Bank of Baldwin County, said, “We look forward to joining The First team in continuing the tradition of providing great personal customer service, community-oriented banking products and services, and the local business market experience through our longtime professional bankers. By combining our resources, we’ll have even greater opportunities to serve the credit needs of our local businesses and individuals.”

Part of the acquisition process involves the First National Bank of Baldwin County’s holding company First Baldwin Bancshares Inc. filing for reorganization under Chapter 11 of the bankruptcy court. This plan of reorganization will have NO effect on the operations of First National Bank of Baldwin County, or any impact on its bank customers or depositors, and clears the way for First Bancshares to complete the acquisition subject to regulatory approval.

Safe, sound, quality growth is the major component of The First’s business strategy. And, that is why even in the midst of the most turbulent economic times, The First has continued to achieve 52 consecutive quarters of profitability. It is because of this commitment that The First earned a 5 Star Rating (the highest given) by Bauer Financial, “the nation’s bank rating service.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,102.38 -272.38 -1.66%
S&P 500 1,921.22 -29.91 -1.53%
NASDAQ 4,683.9190 -49.5780 -1.05%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs