Home » NEWS » The First sees poorer first quarter

The First sees poorer first quarter

HATTIESBURG — The First Bancshares Inc., holding company for The First, A National Banking Association, reported earnings for the three months ended June 30, 2009, amounted to $104,000, or $0.03 per diluted share, compared to $339,000, or $0.11 per diluted share, for the same quarter in 2008.

David E. Johnson, The First chairman and CEO, said, “In light of the current economic downturn, we are pleased to report positive earnings for the second quarter. We are also pleased at some of the current trends we are seeing in our company.

“Our earnings, though down, are positive, our margins are improving, our non-performing loans remain below peers and our capital remains strong. We further strengthened capital with the addition of Treasury Capital Purchase Program preferred stock in the amount of $5 million back in Feb. 2009.”

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About MBJ Newswires

Leave a Reply

Your email address will not be published. Required fields are marked *

*