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Mar 31, 2021
First Bancshares Q1 2021 Earnings Report
Reported net income increase and dividend increase.
Key Takeaways
First Bancshares reported a strong first quarter with net income available to common shareholders totaling $16.6 million, a 100.3% increase compared to the first quarter of 2020. The company's board also declared an 8% increase in the quarterly cash dividend.
Net income available to common shareholders totaled $16.6 million, up 100.3% year-over-year.
Pre-tax, pre-provision operating earnings (non-GAAP) increased 20.2% year-over-year.
Provision for credit losses totaled $0, compared to $7.1 million in Q1 2020.
The Board of Directors declared a cash dividend of $0.14 per share, an increase of 8%.
First Bancshares
First Bancshares
Forward Guidance
The company did not provide forward guidance in the earnings report.