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.
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