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Dec 31, 2022
First Bancshares Q4 2022 Earnings Report
Reported financial results for the fourth quarter of 2022 and increased quarterly dividend by 5%.
Key Takeaways
First Bancshares reported a net income available to common shareholders of $16.3 million for Q4 2022, representing a 16.0% increase compared to the previous quarter. The company closed its acquisition of Heritage Southeast Bancorporation effective January 1, 2023, and completed the systems conversion related to the acquisition of Beach Bancorp, Inc.
Closed acquisition of Heritage Southeast Bancorporation, Inc. effective January 1, 2023, which will add approximately $1.6 billion of assets and twenty four locations.
Completed systems conversion related to the acquisition of Beach Bancorp, Inc.
Net income available to common shareholders totaled $16.3 million, a 16.0% increase compared to the quarter ended September 30, 2022.
Total loans, excluding PPP loans, increased 1.5% for the quarter representing net growth of $55.5 million.
First Bancshares
First Bancshares
Forward Guidance
The First Bancshares, Inc. did not provide specific forward guidance in this earnings report.