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First Bancshares Inc Miss (FBMS)

The First Bancshares, Inc., headquartered in Hattiesburg, Mississippi, is the parent company of The First, A National Banking Association ('The First'). Founded in 1996, The First has operations in Mississippi, Louisiana, Alabama, Florida and Georgia.

Company profile

Ticker
FBMS
Exchange
CEO
M. Ray Cole
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
COMMUNITY CAPITAL CORP /MS/
SEC CIK
Subsidiaries
THE FIRST BANCSHARES, INC. ...
IRS number
640862173

FBMS stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

10 May 22
12 Aug 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 802.61M 802.61M 802.61M 802.61M 802.61M 802.61M
Cash burn (monthly) 39.03M 9.76M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 172.7M 43.18M n/a n/a n/a n/a
Cash remaining 629.91M 759.44M n/a n/a n/a n/a
Runway (months of cash) 16.1 77.8 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
13 Jun 22 M Ray Cole JR COMMON STOCK Payment of exercise Dispose F No No 28.84 1,379 39.77K 118,559
13 Jun 22 Donna T Rutland COMMON STOCK Payment of exercise Dispose F No No 28.84 166 4.79K 51,644
19 May 22 M Ray Cole JR COMMON STOCK Grant Acquire A No No 0 34,990 0 119,938
19 May 22 Donna T Rutland COMMON STOCK Grant Acquire A No No 0 9,761 0 51,810
62.2% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 109 102 +6.9%
Opened positions 16 14 +14.3%
Closed positions 9 5 +80.0%
Increased positions 43 31 +38.7%
Reduced positions 29 33 -12.1%
13F shares Current Prev Q Change
Total value 429.92M 1.36B -68.4%
Total shares 12.77M 13.35M -4.3%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
TROW T. Rowe Price 2.58M $86.92M -0.6%
BLK Blackrock 1.73M $58.12M +5.3%
Vanguard 1.02M $34.46M -4.1%
Royce & Associates 750.55K $25.26M +24.2%
STT State Street 557.25K $18.76M +0.1%
Manufacturers Life Insurance Company, The 551.27K $18.56M +0.1%
Dimensional Fund Advisors 536.15K $18.05M +5.5%
Stieven Capital Advisors 485.5K $16.34M -1.5%
EJF Capital 435.35K $14.65M -72.3%
Mendon Capital Advisors 425K $14.31M +26.9%
Largest transactions Shares Bought/sold Change
EJF Capital 435.35K -1.14M -72.3%
Royce & Associates 750.55K +146.41K +24.2%
Mendon Capital Advisors 425K +90K +26.9%
BLK Blackrock 1.73M +86.6K +5.3%
HoldCo Asset Management 280.08K -70.4K -20.1%
Bridgeway Capital Management 117.3K +51K +76.9%
Vanguard 1.02M -43.82K -4.1%
Healthcare Of Ontario Pension Plan Trust Fund 40.4K +40.4K NEW
Cornercap Investment Counsel 31.18K +31.18K NEW
Millennium Management 92.18K +28.05K +43.7%

Financial report summary

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Management Discussion
  • The Company reported net income available to common shareholders of $16.8 million for the three months ended March 31, 2022, compared with net income available to common shareholders of $16.6 million for the same period last year, an increase of $185 thousand or 1.1%.  For the first quarter of 2022, fully diluted earnings per share were $0.81, compared to $0.79 for the first quarter of 2021.  
  • Operating net earnings, a non-GAAP financial measure, for the first quarter of 2022 totaled $15.0 million compared to $16.6 million for the first quarter of 2021, a decrease of $1.7 million or 10.0%.  Operating net earnings, which is a non-GAAP financial measure, for the first quarter of 2022 excludes merger and conversion related costs of $305 thousand, net of tax, financial assistance grant from the U.S. Treasury of $524 thousand, net of tax, and bank-owned life insurance (“BOLI”) death proceeds of $1.6 million.  Diluted operating earnings per share, a non-GAAP financial measure, were $0.72 on a fully diluted basis for the first quarter 2022, compared to $0.79 for the same period in 2021, excluding the costs and income described above.  See reconciliation of non-GAAP financial measures provided below.
  • Net interest income for the first quarter 2022 was $38.6 million, a decrease of $590 thousand or 1.5%, for the three months ended March 31, 2022, compared to $39.2 million for the same period in 2021.  Fully tax equivalent (“FTE”) net interest income, which is a non-GAAP measure, totaled $39.5 million and $39.9 million for the first quarter of 2022 and 2021, respectively.    Purchase accounting adjustments decreased $226 thousand for the first quarter comparisons.  First quarter 2022 FTE net interest margin, which is a non-GAAP measure, of 2.78% included 5 basis points related to purchase accounting adjustments compared to 3.34% for the same quarter in 2021, which included 9 basis points related to purchase accounting adjustments.  Excluding the purchase accounting adjustments, the net interest margin decreased 52 basis points in prior year quarterly comparison.  See reconciliation of non-GAAP financial measures provided below.    

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