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The First Bancshares: 2Q Earnings Snapshot

The First Bancshares Inc. on Monday reported second-quarter net income of $16.9 million.

The Hattiesburg, Mississippi-based bank said it had earnings of 79 cents per share. Earnings, adjusted for non-recurring gains, were 52 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The bank holding company posted revenue of $61.5 million in the period. Its revenue net of interest expense was $54.9 million, also exceeding Street forecasts.

The First Bancshares shares have declined 43% since the beginning of the year. In the final minutes of trading on Monday, shares hit $20.07, a decline of 38% in the last 12 months.


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