The First’s earnings rise
Published: October 21,2009
HATTIESBURG — The First Bancshares Inc., holding company for The First, A National Banking Association, reports net income available to common shareholders for the three months ended Sept. 30, 2009 amounted to $693,000 or $0.23 per diluted share, compared to $335,000 or $0.11 per diluted share for the same quarter in 2008.
Hoppy Cole, CEO of The First, said, “We are pleased to report an improvement in our third quarter earnings. Positive loan growth, improvement in our net interest margin, and a reduction in our operating expenses are the result of focused efforts by our employees to improve the bank’s performance in a challenging economic environment.”
Other quarterly highlights include:
• total assets increased to $485.889 million
• total loans increased to $321.402 million
• net interest margin increased to 3.59 percent from 3.54 percent at June 30, 2009
• total borrowed funds decreased 9.6% to $32.063 million
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Gulf LNG terminal mulling export opportunities
- Education officials changing school rating system
- Yarber could be sworn in today as new Jackson mayor
- Capital City voters to elect new mayor in runoff
- Historic COFO building demolished due to structural problems
- Seafood R’evolution set to make Mississippi ‘the new culinary epicenter of the South’
- After review, MSU moves forward on new research facility
- Pharma Pac lays off rest of workers; could end up owing state
- Ole Miss launches commitment to be 'climate neutral'
- Study: Mississippi has highest sales tax rate in U.S.