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Jun 30, 2021
First Bancshares Q2 2021 Earnings Report
Reported results for the second quarter of 2021.
Key Takeaways
The First Bancshares, Inc. reported a net income available to common shareholders of $15.6 million for the quarter ended June 30, 2021, representing a decrease of $1.0 million, or 6.3%, compared to the previous quarter. However, net income available to common shareholders operating totaled $15.6 million, an increase of $4.4 million, or 38.9%, compared to the second quarter of 2020.
Loans, excluding Paycheck Protection Program (PPP) loans, increased $45.5 million, 1.6% as compared to the quarter ended March 31, 2021, or 6.4% on an annualized basis.
Net income available to common shareholders totaled $15.6 million for the quarter ended June 30, 2021, representing a decrease of $1.0 million, or 6.3%, compared to $16.6 million for the quarter ended March 31, 2021.
Total cost of deposits decreased 19% from 0.37% at quarter end March 31, 2021 to 0.30% at quarter end June 30, 2021.
The Board of Directors declared a cash dividend of $0.15 per share to be paid on its common stock on August 25, 2021 to shareholders of record as of the close of business on August 10, 2021.
Revenue by Segment
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