Mission Statement, Vision, & Core Values of The First Bancshares, Inc. (FBMS)

When you look at The First Bancshares, Inc., you're not just looking at a regional bank with 2024 year-end total assets of over $8.00 billion; you're analyzing the foundation of a new $26 billion financial services powerhouse, thanks to its merger with Renasant Corporation closing in April 2025. How does a company navigate such a massive strategic shift while maintaining its primary mission to promote community development and maximize shareholder value, which drove 2024 net income to $77.2 million? Can the original vision of fostering economic growth truly scale from a Mississippi back porch idea to a multi-state operation, or will the core values get lost in the integration? Let's break down the principles driving this growth story and what they mean for the stock.

The First Bancshares, Inc. (FBMS) Overview

You need to know where a company stands before you can evaluate its future, and The First Bancshares, Inc. (FBMS) has a clear, community-focused history that drove its growth. The company, which operates as the bank holding company for The First Bank, was established in 1995 and has grown into a significant regional financial institution headquartered in Hattiesburg, Mississippi. It's a classic community banking story, but on a large scale.

The First Bancshares provides a full spectrum of commercial and retail banking services, which are its core products. Think of it as three key segments: the Commercial/Retail Bank, the Mortgage Banking Division, and the Holding Company itself. They don't just offer checking accounts; they provide the financial lifeblood for individuals and small to medium-sized businesses across the Southeast.

• Offer deposit accounts: Checking, savings, money market, and certificates of deposit.
• Provide commercial loans: Secured and unsecured for working capital and business expansion.
• Issue consumer loans: Auto financing, home improvements, and personal investments.
• Originate mortgages: Loans for home purchases, construction, and refinancing.
• Deliver wealth management: Financial planning and investment services.

This comprehensive approach generated substantial sales leading into 2025. Specifically, the company's trailing twelve months (TTM) revenue as of November 2025 stood at approximately $0.27 Billion USD, reflecting the strong, consistent revenue stream typical of a well-run regional bank, even amid the major organizational changes of the year.

Financial Performance and Key Revenue Drivers

Looking at the latest financial data helps you understand the quality of that revenue stream, and the 2024 fiscal year figures show a strong trajectory leading into 2025. The company's total assets at the end of 2024 were approximately $8.005 billion, a major milestone that shows its scale in the regional banking space. The main product for any bank is its loan portfolio, which drives interest income, and that's where the growth was.

For the full year 2024, The First Bancshares reported total revenue of $279.64 million, and net income available to common shareholders was $77.2 million. Here's the quick math: the real engine is the Total Interest Income, which reached $370 million in 2024, primarily from loans and investment securities. That's a huge number, and it's why regional banks are so sensitive to interest rate changes-it's their main product's sales figure.

To be fair, the TTM revenue of $0.27 Billion USD as of November 2025 shows a slight decrease from the 2024 annual figure, which is defintely a point to watch. This is often a sign of market pressures or, in this case, the expected close of a major corporate action. You can find a deeper dive into the balance sheet metrics and liquidity ratios in Breaking Down The First Bancshares, Inc. (FBMS) Financial Health: Key Insights for Investors.

The First Bancshares' Industry Position and Success

The First Bancshares has cemented its position as one of the leading regional financial institutions across the Gulf Coast and Southeast. The company's success isn't abstract; it's a result of deliberate, multi-state expansion. They operate a network of over 116 locations, including branches and loan offices, spanning five states: Mississippi, Louisiana, Alabama, Florida, and Georgia. That kind of footprint is what makes them a leader in their specific market.

This growth and scale, reaching nearly $8 billion in assets in less than two decades, is exactly what makes a bank an attractive target for larger players. The company's strategic value was confirmed by the definitive merger agreement with Renasant Corporation, which was expected to close in the first half of 2025. This move, where FBMS shareholders were set to receive 1.00 share of Renasant stock for each FBMS share, is a clear indicator of the market recognizing the quality and value of The First Bancshares' franchise and its strong regional leadership. This is how you create value. To truly understand why a company with such solid fundamentals chose this path, you need to look closer at their core mission and values-the non-financial drivers of their success.

The First Bancshares, Inc. (FBMS) Mission Statement

You're looking at The First Bancshares, Inc. (FBMS) to understand its long-term direction, but the most critical piece of 2025 context is the April 1 merger with Renasant Corporation. This move is the ultimate execution of their mission: to provide financial services to the communities they serve while maximizing shareholder value.

The mission statement itself is a clear, dual-focus mandate that guides every strategic decision, from loan underwriting to community outreach. It's the blueprint that took the bank from a back porch idea in Hattiesburg, Mississippi, to an entity with $8.005 billion in total assets by December 31, 2024. The mission's significance is now amplified because its successful pursuit led directly to the creation of a significant financial services institution with approximately $26 billion in total assets in the Southeast, a major win for shareholders and a clear statement on profitable growth.

Core Component 1: Meeting Customer Financial Needs with Quality Service

The first core component of the mission is the commitment to meet the financial needs of customers with quality financial products and services. This isn't just about having checking accounts; it's about delivering the breadth of products you'd expect from a large regional bank, but with the personal touch of a community institution.

The company operates through three key segments-Commercial/Retail Bank, Mortgage Banking Division, and Holding Company-to ensure comprehensive coverage. This structure allows them to offer everything from commercial loans for business expansion to wealth management services and consumer loans for home improvements and education. For the year ended December 31, 2024, the company's net income available to common shareholders was $77.2 million, a figure that shows the profitability of this customer-centric model. Honestly, you don't grow that fast without customers trusting your service.

Core Component 2: Investing in Community and Economic Growth

A second, deeply embedded component is the commitment to invest in the communities served, with a particular emphasis on fostering economic growth in under-served markets. This is a tangible commitment, not just a marketing slogan. The First Bancshares, Inc. has been a Certified Community Development Financial Institution (CDFI) since 2010.

The CDFI designation means that more than 60% of their business activities are in distressed markets, which is a major differentiator. Through this focus, the company has been awarded over $5.2 million in grants to support economic growth and job creation in these communities. This isn't charity; it's a smart, long-term strategy for market development, plus it contributes to the quality of life in their operating areas.

• Provide financial education in local markets.
• Generate access to credit in under-served areas.
• Support long-term, sustainable community changes.

You can see the depth of this commitment by Exploring The First Bancshares, Inc. (FBMS) Investor Profile: Who's Buying and Why?, where their community banking model is a key factor for many investors.

Core Component 3: Profitable, Controlled Growth and Shareholder Value

The final pillar is the focus on profitable, controlled growth, which is essential for enhancing shareholder value. The leadership team has defintely shown a knack for balancing community focus with financial discipline, which is rare in the regional banking space.

Here's the quick math: The company's total revenue for the fiscal year 2024 was approximately $284 million. This revenue stream, derived mainly from net interest income and non-interest income from services like financial counseling, is a testament to their operational efficiency and prudent risk management. The ultimate expression of this commitment is the merger itself. The transaction, valued at approximately $1.2 billion and expected to close on April 1, 2025, delivered a clear return to shareholders by combining with Renasant Corporation to create a larger, more diversified financial powerhouse. That's how you turn a mission into a concrete, multi-billion dollar outcome.

The First Bancshares, Inc. (FBMS) Vision Statement

You're looking past the historical financials to understand the strategic compass of The First Bancshares, Inc. (FBMS), and the near-term reality is that the company's vision is now inextricably linked to its merger with Renasant Corporation, which closed in April 2025. The original founder's vision-to foster economic growth and generate superior returns to our stakeholders-now serves as the foundation for a much larger, combined entity with approximately $26.0 billion in total assets.

This isn't just a simple acquisition; it's a strategic alignment of two 'like-minded banks' that aimed to unlock new possibilities. For investors and clients, this means translating the legacy vision into the operational scale of a major regional player across the Southeast, a shift that changes the risk profile and opportunity set overnight. The old vision is now being executed on a much larger platform.

Fostering Economic Growth and Community Development

The core mission of The First Bancshares, Inc., through its subsidiary The First Bank, has always been tied to community development, a focus that's critical in the regional banking space. They are a Certified Community Development Financial Institution (CDFI), meaning at least 60% of their business activities are intentionally directed toward distressed markets. This isn't charity; it's a long-term economic strategy.

This commitment to community is the practical application of their vision to foster economic growth. It translates into tangible actions like providing financial products and technical assistance in underserved areas, which helps stabilize their loan portfolio over the long haul by building a stronger local economy. This focus on local economic health is a defintely a key differentiator.

• Invest in underserved markets for long-term stability.
• Provide financial education and access to credit.
• Support local economies in Mississippi, Louisiana, Alabama, Florida, and Georgia.

Generating Superior Returns to Stakeholders

The second pillar of the founder's vision-generating superior returns-is where the rubber meets the road for investors like you. The merger with Renasant Corporation fundamentally altered the scale of this return generation. Before the merger, The First Bancshares, Inc. reported $77.19 million in net income for the 2024 fiscal year. Post-merger, the combined entity targets greater efficiency and market reach.

The market's expectation for the combined entity's performance is a key indicator of the 'superior returns' component. Analysts are forecasting a full-year 2025 Earnings Per Share (EPS) of approximately $2.82 for the former FBMS shares, reflecting the anticipated accretion from the merger and operational synergies. Here's the quick math: achieving this EPS on the new, larger balance sheet requires disciplined cost management and successful integration of the two bank systems. If integration takes 14+ days, churn risk rises, but the goal is to leverage the combined $26.0 billion asset base for greater profitability.

The New Vision: Unlocking Possibilities Through Merger

The most current expression of the company's forward-looking strategy is found in the rationale for the merger itself. The official announcement on receiving regulatory approvals in March 2025 stated the combination would 'unlock new possibilities that neither could achieve alone.' This is the 2025 vision: a focus on scale, efficiency, and expanded geographic footprint.

The merger creates a more diversified regional bank, reducing concentration risk and opening new avenues for loan growth in a challenging interest rate environment. This strategic move is a direct, actionable step to continue the legacy vision of superior returns by creating a more resilient, larger institution. You can dive deeper into the financial health of the combined entity and the risks involved by reviewing Breaking Down The First Bancshares, Inc. (FBMS) Financial Health: Key Insights for Investors.

Finance: Track the former FBMS business segment's contribution to the new parent company's quarterly net interest margin (NIM) by the end of Q4 2025.

The First Bancshares, Inc. (FBMS) Core Values

You're looking for the bedrock of The First Bancshares, Inc. (FBMS) before and after its big 2025 move, and that foundation is built on three pillars: a deep Community Focus, a relentless drive for Maximizing Shareholder Value, and an unwavering commitment to Integrity and Soundness. These aren't just posters on a wall; they are the strategic drivers that led to the company's transformative merger.

The core philosophy is simple: grow the communities you serve, and your company will grow with them. This realism is why The First Bancshares, Inc. has consistently delivered, culminating in the major strategic combination this year, which created a financial institution with approximately $26 billion in assets and over 250 locations across the Southeast. That's a massive jump in scale, but the core values are what will make it work.

Community Focus and Service

This value is the lifeblood of The First Bancshares, Inc. It means more than just having branches; it means actively investing in the economic health of the markets they serve, particularly the under-served ones. The company's primary mission is to invest in these communities, which is why it is one of the country's largest Certified Community Development Financial Institutions (CDFI), a designation for institutions where at least 60% of business activities are in distressed markets.

This isn't charity; it's a sustainable business model. Since 2010, this commitment has helped the company secure over $7.2 million in grants from the U.S. Treasury, which is directly channeled into local economic growth and job creation. Here's the quick math: those grants fund programs that provide access to credit and financial education, directly improving the standard of living in their operating regions across Mississippi, Louisiana, Alabama, Georgia, and Florida.

• Invest in under-served markets.
• Provide financial education and access to credit.
• Foster long-term, sustainable economic change.

Maximizing Shareholder Value

To be fair, a community-focused bank still needs to generate superior returns for its investors, and The First Bancshares, Inc. has defintely kept this value front and center. The strategic vision is to foster economic growth and generate superior returns to stakeholders-one doesn't happen without the other. The most concrete 2025 action demonstrating this commitment was the successful closing of the merger with Renasant Corporation on April 1, 2025, a move designed to unlock new possibilities through scale and efficiency.

Before the merger closed, the company continued its commitment to direct returns, declaring a cash dividend of $0.25 per share on its common stock in January 2025, paid out in February. This consistent return is a clear signal to the market. Plus, the previous year's board-approved share repurchase program of up to $50 million showed a proactive approach to managing share count and boosting earnings per share (EPS) for investors. This is what you look for when Exploring The First Bancshares, Inc. (FBMS) Investor Profile: Who's Buying and Why?

Integrity and Soundness

In the financial world, integrity translates directly to operational stability and risk management, which are non-negotiable. The First Bancshares, Inc.'s vision requires maintaining public confidence by managing a safe and sound bank. This is about more than just compliance; it's about embedding ethical practices into the culture.

The company's focus on safety and soundness is demonstrated through its rigorous cybersecurity and information security protocols. All employees receive annual information security training, and the company's controls are routinely reviewed and updated to mitigate threats. This dedication to protecting customer and financial information is what keeps the bank's nonperforming assets manageable, which were reported at $29.9 million, or 0.37% of total assets, at the end of the fourth quarter of 2024. That's a tight ship, and it's how you ensure long-term stability in a volatile market.