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Dec 31, 2024
First Bancshares Q4 2024 Earnings Report
Reported financial results for the fourth quarter ended December 31, 2024.
Key Takeaways
The First Bancshares, Inc. reported net income available to common shareholders of $18.3 million for Q4 2024, a decrease of 1.5% compared to the previous quarter. Total loans increased by $88.6 million, representing an annualized growth of 6.7%. The annualized net interest margin increased by 4 basis points to 3.37%.
Net income available to common shareholders totaled $18.3 million, a 1.5% decrease compared to the previous quarter.
Operating net earnings available to common shareholders decreased 1.1% to $20.3 million.
Total loans increased by $88.6 million, an annualized growth of 6.7%.
Annualized net interest margin increased 4 basis points to 3.37%.
Forward Guidance
The Merger has been approved by each company's board of directors and shareholders and is expected to close in the first half of 2025. Completion of the Merger is subject to customary closing conditions, including the receipt of required regulatory approvals.
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