FBMS Overview

Merger Approval: Renasant Corporation and The First Bancshares, Inc. have received all necessary regulatory approvals to proceed with their merger, which is set to close on April 1, 2025, creating a financial institution with approximately $26 billion in assets.

Leadership Statements: Both CEOs expressed excitement about the merger, highlighting the transformative partnership and shared values that will enhance customer service and community commitment.

Stock Performance: First Bancshares Inc (FBMS) shares have entered oversold territory with an RSI of 29.4, indicating potential buying opportunities for investors as the stock price has fallen to $32.98.

Dividend Yield: The recent annualized dividend of $1 per share results in a yield of 3.01% based on the current share price, making it attractive for dividend investors despite the unpredictability of dividends.

Upcoming Ex-Dividend Dates: Blackstone Inc, First Bancshares Inc, and German American Bancorp Inc will trade ex-dividend on 2/10/25, with respective dividends of $1.44, $0.25, and $0.29 scheduled for payment on 2/18/25, 2/26/25, and 2/20/25.

Dividend Yield Expectations: Estimated annual yields based on recent dividends are 3.29% for Blackstone Inc, 2.57% for First Bancshares Inc, and 2.81% for German American Bancorp Inc, reflecting the historical stability of these companies' dividends.

Earnings Report: First Bancshares reported a Q4 Non-GAAP EPS of $0.64, missing expectations by $0.01, while the annualized net interest margin increased to 3.37%.

Dividend Announcement: The Board of Directors declared a cash dividend of $0.25 per share, scheduled for payment on February 26, 2025, to shareholders of record by February 10, 2025.

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.

Financial Performance: The First Bancshares reported a Q4 net interest income of $60.1 million, an increase from $57.7 million the previous year, highlighting strong loan growth and core net interest margin expansion.

Strategic Merger Announcement: CEO M. Ray “Hoppy” Cole emphasized the significance of 2024 as a pivotal year for the company due to the announcement of a merger, which is expected to create new opportunities for stakeholder value.