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First Bancshares, Inc. Announces Operating Results for Quarter Ended June 30, 2025

MOUNTAIN GROVE, Mo., July 11, 2025 (GLOBE NEWSWIRE) -- First Bancshares, Inc. (OTCQX: FBSI) (“Company”), the holding company for Stockmens Bank (“Bank”), today announced its unaudited financial results for the quarter ended June 30, 2025.

For the second quarter of 2025, the Company reported after-tax net income of $1,824,000 or $0.75 per share-diluted compared to $1,630,000 or $0.67 per share-diluted for the same period in 2024. Net income for the second quarter of 2025 represents an after-tax return on average assets of 1.36% and an after-tax return on equity of 11.82%. These earnings ratios repeated their recent trend of outperformance despite an atypical $7.5 million increase in asset size due to an arbitrage play and strategic stockpiling of capital reserves.

Since June 30, 2024, the Company experienced growth in all major balance sheet categories aside from investment securities with consolidated total assets increasing $27.3 million to $544.1 million, cash & cash equivalents increasing $13.0 million to $55.8 million, and net loans receivable increasing $15.9 million to $445.3 million. Total deposits increased $13.4 million to $468.3 million, and stockholders’ equity increased $6.3 million to $62.3 million.

Through the second quarter of 2025, the Company has made significant efforts to fortify its balance sheet. Liquidity remains robust with excess cash being deployed into high-quality loan assets, earning asset yields rose, costs of funds has been kept in check, asset quality improved from already impressive levels, and capital ratios developed to a level that affords the Company the flexibility to pursue growth opportunities as they arise.

The Bank meets all regulatory requirements for “well-capitalized” status.

About the Company

First Bancshares, Inc. is the holding company for Stockmens Bank, a FDIC-insured commercial bank chartered by the State of Colorado that conducts business from its home office in Colorado Springs, Colorado, and eight full-service Missouri offices in Mountain Grove, Marshfield, Ava, Kissee Mills, Gainesville, Crane, Hartville and Springfield, and full-service offices in Bartley, Nebraska and Akron, Colorado.

Cautionary Note Regarding Forward-Looking Statements

The Company and its wholly owned subsidiary, Stockmens Bank, may from time to time make written or oral “forward-looking statements” in its reports to shareholders, 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, 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.

The foregoing list of factors is not exclusive. The Company does not undertake, and expressly disclaims any intent or obligation, to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.

Contact: Robert M. Alexander, Chairman and CEO - (719) 955-2800


First Bancshares, Inc. and Subsidiaries  
Financial Highlights  
(unaudited)  
(In thousands, except per share amounts)  
                         
                         
      Quarter Ended    Six Months Ended 
      June 30,    June 30, 
        2025      2024     2025     2024 
Operating Data:                      
                         
Total interest income   $ 8,407     $ 8,013     $ 16,371     $ 16,154  
Total interest expense     2,411       2,689       4,721       5,486  
  Net interest income     5,996       5,324       11,650       10,668  
Provision for credit losses     61       141       239       343  
  Net interest income after provision for credit losses     5,935       5,183       11,411       10,325  
Gain (loss) on sale of investments     -       -       -       -  
Non-interest income     474       410       835       786  
Non-interest expense     4,014       3,434       7,597       6,757  
Income before taxes     2,395       2,159       4,649       4,354  
Income tax expense     571       529       1,133       1,071  
  Net income   $ 1,824     $ 1,630     $ 3,516     $ 3,283  
                         
  Earnings per share   $ 0.75     $ 0.67     $ 1.46     $ 1.35  
                         
      At   At     At        
      June 30,   December 31,     June 30,        
Financial Condition Data:     2025       2024       2024        
                         
Cash and cash equivalents   $ 55,758     $ 68,570     $ 42,769        
  (excludes CDs)                            
Investment securities     13,421       13,066       12,966        
  (includes CDs)                      
Loans receivable, net     445,372       423,657       429,444        
Goodwill and intangibles     1,443       1,515       1,586        
Total assets     544,072       537,885       516,784        
Deposits     468,345       472,596       454,992        
Repurchase agreements     1,102       1,084       1,601        
Borrowings     7,500       -       -        
Stockholders' equity     62,336       59,562       56,037        
Book value per share   $ 25.68     $ 24.53     $ 23.08        

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