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Jun 30, 2020
First Bancshares Q2 2020 Earnings Report
Reported an increase in net income and completed acquisition of Southwest Georgia Bank.
Key Takeaways
The First Bancshares, Inc. reported a 41.4% increase in net income available to common shareholders for the quarter ended June 30, 2020, compared to the same quarter in 2019, driven by the acquisition of Southwest Georgia Bank and growth in loans and deposits.
Net income available to common shareholders increased by 41.4% compared to Q2 2019.
Closed acquisition of Southwest Georgia Financial Corporation, adding 8 locations.
Excluding acquired loans and PPP loans, average loans increased by $5.3 million.
Pre-tax, pre-provision operating earnings increased by 28.5% compared to Q2 2019.
First Bancshares
First Bancshares
First Bancshares Revenue by Segment
Revenue by Segment
Loans, including fees Revenue
CapyFin.comInvestment securities Revenue
CapyFin.com Forward Guidance
Company is well positioned to navigate the uncertain environment with strong core earnings, capital, and liquidity, focusing on client needs and team member safety.