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Sep 30, 2020
First Bancshares Q3 2020 Earnings Report
Reported results for the third quarter, with net income decreasing slightly year-over-year but pre-tax, pre-provision income increasing.
Key Takeaways
First Bancshares reported a slight decrease in net income available to common shareholders compared to the same quarter last year, but pre-tax, pre-provision operating earnings increased. The company also increased its quarterly dividend by 20%.
Average loans increased $9.1 million, or 0.3% for the sequential quarter comparison.
Average deposits increased $143.2 million, or 3.5% for the sequential quarter comparison.
Pre-tax, pre-provision operating earnings increased 26.5% year-over-year.
The company issued $65 million in aggregate principal amount of subordinated debt.
First Bancshares
First Bancshares
Forward Guidance
No specific forward guidance was provided in the report.