Case 69 The First Bancshares Inc

The First Bancshares Inc., founded in year 1996, is the parent company of The First, A National Banking Association. The First Bancshares operations are based in Mississippi, Louisiana, Alabama, Georgia, and Florida. The company’s stock is traded on NASDAQ Global market under the symbol FBMS. As of December 31, 2022, the First had operations in 90 locations which are based in Mississippi, Alabama, Florida, Georgia, and Louisiana. The First is a community-based financial institution which offers a full spectrum of financial services to individuals, businesses, municipal establishments, and nonprofit organizations. The services offered include consumer and commercial loans, deposit accounts, and safe deposit services. In Jan 2022, the First converted from a national banking association to a Mississippi state-chartered bank and changed its name to The First Bank. By December 2022, the First Bank employed 870 employees in five states of the USA. The company focuses on strong asset quality metrics and has a well-disciplined underwriting and credit culture. The average growth rate of total assets, gross loans, and deposits were 22%, 17%, and 23%, respectively, during the period 2018–2022.