MOUNTAIN GROVE, Mo., March 22, 2013 (GLOBE NEWSWIRE) -- First Bancshares, Inc. (OTCQB:FBSI), the holding company for First Home Savings Bank ("Bank"), today announced the termination of the Agreement that First Home Savings Bank had entered into with the Director of the Division of Finance of the State of Missouri and the Federal Deposit Insurance Corporation on November 3, 2011. The termination of the Agreement is effective on March 15, 2013.
"We are pleased that our regulators have acknowledged the significant improvements at the Bank," said Brad Weaver, Chairman, President and Chief Executive Officer of the Bank. "Many of the items contained in the Agreement with the regulators consisted of Best Practices and we have implemented revised policies and procedures so we can continue to follow these guidelines going forward. I would like to thank the entire team at the Bank for its dedication and commitment that have enabled us to attain this important milestone. With a solid capital foundation, we are well positioned for the future as we continue to execute on our strategies and priorities to strengthen our franchise."
First Bancshares, Inc. is the holding company for First Home Savings Bank, an 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.