The First Bancshares, Inc. Reports Results for Fourth Quarter ended December 31, 2024
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 28 2025
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Source: Businesswire
Financial Performance Overview: The First Bancshares, Inc. reported a slight decrease in net income to $18.3 million for Q4 2024, with total loans increasing by 6.7% and nonperforming assets rising to $29.9 million. Despite challenges, the company experienced growth in total deposits and net interest margin.
Merger Announcement: FBMS announced a merger agreement with Renasant Corporation, where FBMS will merge into Renasant, expected to close in the first half of 2025, pending regulatory approvals. This merger aims to enhance shareholder value and strengthen the company's market position.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
