First Bancshares Q1 2024 Earnings Report
Key Takeaways
The First Bancshares, Inc. reported a net income available to common shareholders of $20.6 million for the quarter ended March 31, 2024, representing an increase of 86.7% compared to the previous quarter. Total deposits increased by $247.5 million, or 3.8%, while total loans decreased by $30.1 million. The annualized net interest margin decreased slightly to 3.20%.
Net income available to common shareholders totaled $20.6 million, an 86.7% increase compared to the previous quarter.
Operating net earnings available to common shareholders increased 10.1% to $20.6 million.
Total deposits increased $247.5 million, representing a 3.8% increase.
Annualized net interest margin decreased 8 basis points to 3.20%.
First Bancshares
First Bancshares
Forward Guidance
No specific forward guidance was provided in the earnings report.