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First Bancshares income rises for quarter

MBJ staff

The First Bancshares Inc., holding company for The First, reported on Monday net income of $12.3 million for the quarter ending Sept. 30, an increase of $7.1 million, or 137.7 percent, compared with $5.2 million for the year-ago quarter.

Earnings per share were 71 cents, compared with 39 cents a year earlier. Excluding the impact of the merger-related costs, operating earnings per share for the third quarter of 2019 were 74 cents compared with 61 cents for the third quarter of 2018.

The First Bancshares, headquartered in Hattiesburg, has operations in Mississippi, Louisiana, Alabama, Florida and Georgia.

On July 22, the company announced the signing of an agreement to acquire First Florida Bancorp Inc. parent company of First Florida Bank, headquartered in Destin, Fla.

Shares of FirstBancshares common stock on the NasdaqGM market rose 13 cents to close at $32.25 on Monday. The 52-week ranges of the stock is $27.85 to $39.02.

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