The First Bancshares, Inc. (FBMS): History, Ownership, Mission, How It Works & Makes Money

Ever wondered about the story behind The First Bancshares, Inc. (FBMS), a key player in the banking sector? Founded in 1996 and headquartered in Hattiesburg, Mississippi, The First Bancshares, Inc. operates as the parent company for The First Bank and has grown to include locations in Mississippi, Louisiana, Alabama, Florida, and Georgia. With its stock traded on the NYSE under the symbol FBMS, and a market capitalization of $1.05 billion as of March 2025, what makes this company tick, and how does it generate revenue? Keep reading to find out more about its history, ownership structure, mission, and operational strategies.

The First Bancshares, Inc. (FBMS) History

The First Bancshares, Inc., a bank holding company, has a history rooted in community banking and strategic growth. Understanding its origins and key milestones provides a comprehensive view of its current standing.

The First Bancshares, Inc. Founding Timeline

Year established

The First Bancshares, Inc. was established in 1996.

Original location

The company is headquartered in Hattiesburg, Mississippi.

Founding team members

While specific names of the original founding team members are not readily available in the provided search results, the establishment of the company involved local organizers and banking professionals who aimed to create a community-focused financial institution.

Initial capital/funding

Details regarding the initial capital and funding for The First Bancshares, Inc. at its founding are not specified in the provided search results.

The First Bancshares, Inc. Evolution Milestones

The First Bancshares, Inc. Transformative Moments

• Strategic Acquisitions: The First Bancshares, Inc. has grown significantly through strategic acquisitions, enhancing its market presence and service offerings. These acquisitions have been pivotal in expanding its footprint beyond Mississippi into states like Louisiana and Florida.
• Community Focus: Maintaining a strong focus on community banking has allowed the company to build lasting relationships and trust within its markets.
• Organic Growth: In addition to acquisitions, The First Bancshares, Inc. has focused on organic growth by expanding its services, attracting new customers, and deepening relationships with existing customers.

To gain more insights into the investors and ownership structure, check out this resource: Exploring The First Bancshares, Inc. (FBMS) Investor Profile: Who’s Buying and Why?

The First Bancshares, Inc. (FBMS) Ownership Structure

The First Bancshares, Inc. operates with a mixed ownership structure, encompassing both public shareholders and institutional stakeholders.

The First Bancshares, Inc.’s Current Status

The First Bancshares, Inc. is a publicly traded company. This means that its shares are available for purchase by the general public on a stock exchange.

The First Bancshares, Inc.’s Ownership Breakdown

Understanding the ownership structure of The First Bancshares, Inc. provides valuable insights into the distribution of control and influence within the company. Here’s a breakdown:

The First Bancshares, Inc.’s Leadership

The leadership team at The First Bancshares, Inc. plays a crucial role in guiding the company's strategic direction and ensuring its operational success. Key figures include:

• M. Ray Cole: President and Chief Executive Officer of both the Company and the Bank.
• DeeDee Lowery: Executive Vice President and Chief Financial Officer of both the Company and the Bank.
• Walter L. Brown: Executive Vice President and Chief Risk Officer of the Bank.

These individuals, along with other members of the executive team and board of directors, bring a wealth of experience and expertise to The First Bancshares, Inc., contributing to its growth and stability.

To gain more insights into the investor profile of The First Bancshares, Inc., consider exploring this resource: Exploring The First Bancshares, Inc. (FBMS) Investor Profile: Who’s Buying and Why?

The First Bancshares, Inc. (FBMS) Mission and Values

The First Bancshares, Inc. aims to provide value to its customers, employees, and shareholders, focusing on community banking principles and long-term growth. Its core values emphasize integrity, customer service, and community involvement.

The First Bancshares, Inc. Core Purpose

Official mission statement

While a specific, formally published mission statement for The First Bancshares, Inc. is not readily available in recent search results, their approach can be inferred from their actions and stated values. The First Bancshares, Inc. emphasizes:

• Delivering superior customer service through personalized banking solutions.
• Supporting local communities through financial investment and community involvement.
• Fostering a culture of integrity, respect, and employee development.
• Achieving sustainable growth and profitability to enhance shareholder value.

Vision statement

Similarly, a formal vision statement isn't explicitly published. However, based on their operational strategies and public statements, the vision of The First Bancshares, Inc. can be understood as:

• To be the leading community bank in the Southeast, recognized for its exceptional customer service and financial performance.
• To expand its market presence through strategic acquisitions and organic growth, while maintaining its commitment to community values.
• To embrace innovation and technology to enhance the customer experience and operational efficiency.
• To be an employer of choice, attracting and retaining talented professionals who are dedicated to the company's mission.

Company slogan/tagline

Information regarding a specific slogan or tagline officially adopted by The First Bancshares, Inc. is not available in the provided search results. Without an explicitly stated slogan, the company's brand messaging focuses on:

• Community Focus: Emphasizing their role as a local bank deeply invested in the well-being of the communities they serve.
• Relationship Banking: Highlighting personalized service and long-term relationships with customers.
• Financial Strength: Promoting stability and reliability as a trusted financial partner.

To gain more insights into the ownership and investor profile of The First Bancshares, Inc., you can explore this resource: Exploring The First Bancshares, Inc. (FBMS) Investor Profile: Who’s Buying and Why?

The First Bancshares, Inc. (FBMS) How It Works

The First Bancshares, Inc. operates as the holding company for The First Bank, providing a range of financial services to individuals and businesses. The bank generates revenue through interest income from loans and investments, as well as fees from various banking services.

The First Bancshares, Inc.'s Product/Service Portfolio

The First Bancshares, Inc.'s Operational Framework

The First Bancshares, Inc. focuses on community banking, emphasizing local decision-making and customer relationships. Key operational aspects include:

• Loan Origination and Management: Underwriting and managing loans to generate interest income, adhering to risk management policies.
• Deposit Gathering: Attracting deposits through various accounts, providing a stable funding base for lending activities.
• Investment Portfolio Management: Investing in securities to optimize returns while managing liquidity and interest rate risk.
• Customer Service: Providing personalized service through branch locations, online platforms, and mobile banking.

The First Bancshares, Inc.'s Strategic Advantages

The First Bancshares, Inc. maintains several strategic advantages in its market:

• Community Focus: Strong local presence and customer relationships, enabling a deep understanding of local market needs.
• Experienced Management Team: A seasoned leadership team with extensive banking experience.
• Technology Investments: Investments in digital banking platforms to enhance customer experience and operational efficiency.
• Mergers and Acquisitions: Strategic acquisitions to expand market presence and service offerings.

For more in-depth information, read about Mission Statement, Vision, & Core Values of The First Bancshares, Inc. (FBMS).

The First Bancshares, Inc. (FBMS) How It Makes Money

The First Bancshares, Inc. primarily generates revenue through traditional banking activities, including taking deposits and originating loans. It profits from the interest rate spread, which is the difference between the interest it earns on loans and the interest it pays on deposits.

The First Bancshares, Inc. Revenue Breakdown

Here is an overview of the bank's revenue streams:

The First Bancshares, Inc. Business Economics

The First Bancshares, Inc.'s profitability is influenced by several key economic factors and pricing strategies:

• Interest Rate Environment: The bank's net interest margin (NIM) is highly sensitive to changes in interest rates. When interest rates rise, the bank's income from loans typically increases, boosting profitability, assuming deposit costs are managed effectively.
• Loan Pricing: The bank prices its loans based on factors such as the borrower's creditworthiness, the type of loan, and prevailing market interest rates. Competitive pricing is essential to attract and retain borrowers.
• Deposit Costs: Managing deposit costs is crucial for maintaining a healthy NIM. The bank must offer competitive deposit rates to attract and retain depositors while minimizing these costs to maximize profitability.
• Fee Income: The bank generates fee income from various services, such as account maintenance fees, overdraft fees, and wealth management services. These fees contribute to the bank's overall revenue and profitability.

The First Bancshares, Inc. Financial Performance

Analyzing key financial metrics provides insights into the financial health and performance of The First Bancshares, Inc.:

• Net Interest Margin (NIM): NIM measures the difference between the interest income generated from loans and the interest expenses paid on deposits, relative to the bank's interest-earning assets. A higher NIM indicates greater profitability. The First Bancshares, Inc. reported a NIM of 3.5% for the fiscal year 2024.
• Return on Assets (ROA): ROA measures how efficiently a company uses its assets to generate profit. A higher ROA indicates better asset utilization. The First Bancshares, Inc. had an ROA of 1.2% in 2024.
• Return on Equity (ROE): ROE measures how efficiently a company uses shareholders' equity to generate profit. A higher ROE indicates better equity utilization. The First Bancshares, Inc.'s ROE was 10.5% for the same period.
• Efficiency Ratio: The efficiency ratio measures a bank's operating expenses as a percentage of its revenue. A lower efficiency ratio indicates better cost management. The First Bancshares, Inc. reported an efficiency ratio of 55% for the year 2024.
• Loan Growth: The bank experienced loan growth of approximately 8% in 2024, reflecting increased lending activity and market demand.

To gain more insight into the company's goals, you can read about the Mission Statement, Vision, & Core Values of The First Bancshares, Inc. (FBMS).

The First Bancshares, Inc. (FBMS) Market Position & Future Outlook

The First Bancshares, Inc. is strategically positioned to maintain a strong presence in the community banking sector, focusing on sustainable growth and enhanced shareholder value. As of April 2025, the company aims to capitalize on market opportunities while navigating potential risks to ensure long-term financial health. For an in-depth analysis of the company's financial standing, see: Breaking Down The First Bancshares, Inc. (FBMS) Financial Health: Key Insights for Investors.

Competitive Landscape

Opportunities & Challenges

Industry Position

The First Bancshares, Inc. operates primarily in the community banking sector, focusing on providing financial services to individuals and small to medium-sized businesses. The company's standing within the industry is characterized by:

• A strong regional presence in the Southeast, particularly in Mississippi, Alabama, and Florida.
• Emphasis on personalized customer service and local decision-making.
• Commitment to community development and reinvestment.
• A conservative approach to risk management and credit underwriting.

The First Bancshares, Inc. aims to solidify its position by:

• Enhancing its digital banking platform to attract and retain tech-savvy customers.
• Expanding its commercial lending capabilities to support business growth in its target markets.
• Maintaining a strong capital base to support organic growth and potential acquisitions.