First Bancshares Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Declares Dividend, Payable on February 25, 2016
January 29, 2016 at 10:14 am
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The Board of Directors of The First Bancshares Inc. announced a cash dividend of $0.0375 per share to be paid on its common stock on February 25, 2016 to shareholders of record as of the close of business on February 9, 2016.
The company reported unaudited earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company has posted net interest income was $9,613,000 against $8,871,000 a year ago. Income before income tax was $3,231,000 against $2,723,000 a year ago. Net income was $2,358,000 against $2,041,000 a year ago. Net income available to common stockholders was $2,273,000 or $0.42 diluted per share against $1,955,000 or $0.36 diluted per share a year ago. Book value per common share at end of period was $16.05 against $14.88 a year ago. Tangible common book value at period end was $13.10 against $12.10 a year ago. Annualized return on average assets was 0.83% against 0.76% a year ago. Annualized return on average common equity, operating was 10.27% against 9.88% a year ago.
For the year, the company reported net earnings available to common shareholders of $8.5 million or $1.55 in fully diluted earnings per share, up from $1.19 in fully diluted earnings per share for the year ended December 31, 2014. This represents an increase of $2.2 million in earnings available to common shareholders, a 35.3% increase over fiscal year 2014 results.
The First Bancshares, Inc. is a bank holding company for The First Bank (the First). The Company is a community-focused financial institution that offers a full range of financial services to individuals, businesses, municipal entities and nonprofit organizations in the communities that it serves. These services include consumer and commercial loans, deposit accounts and safe deposit services. It offers a full range of deposit services that are available in banks and savings institutions, including checking accounts, NOW accounts, savings accounts, and other time deposits of various types, ranging from daily money market accounts to longer-term certificates of deposit. It offers a full range of commercial and personal loans. Commercial loans include both secured and unsecured loans for working capital, business expansion, purchase of equipment and machinery, and others. Its segments include the Commercial/Retail Bank, the Mortgage Banking Division, and the Holding Company.
First Bancshares Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Declares Dividend, Payable on February 25, 2016