FIRST BANCSHARES INC /MS/
thefirstbank.comNo Longer Reporting
The company has not filed an annual or quarterly report since its FY2024 10-K, filed Mar 3, 2025. Its latest SEC filing is a SCHEDULE 13G/A from Jul 15, 2025.
10-K for FY2024, filed Mar 3, 2025
The sections below describe the company as of the FY2024 annual report.
What Did They Do?
Provides banking, mortgage, and wealth-management services to individuals, businesses, and municipal or nonprofit organizations.
10-K for FY2024, filed Mar 3, 2025The Company is a community-focused financial institution that offers a full range of financial services to individuals, businesses…View ↗
We strive to provide our customers with the breadth of products and services offered by large regional banks, while maintaining the timely…View ↗
Mortgage Loan Division. We have a residential mortgage loan division, which originates conventional, or government agency insured loans to…View ↗
Private Banking Division. We have a private banking division, which offers financial and wealth management services to individuals who meet…View ↗
How Did They Make Money?
Earns interest income by lending and investing funds held on deposit, and collects fees from deposit services and card transactions. Deposit transaction and overdraft fees arise when customers use the service; monthly account fees are earned over the month.
10-K for FY2024, filed Mar 3, 2025The Company’s primary source of revenue is interest income and fees, which it earns by lending and investing the funds which are held on…View ↗
Service Charges on Deposit Accounts: The Company earns fees from deposit customers for transaction-based, account maintenance, and…View ↗
Interchange Income: The Company earns interchange fees from debit and credit card holder transaction conducted through various payment…View ↗
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10-K for FY2024, filed Mar 3, 2025
FY2024 revenue by reportable segment ↗
$369.8M
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10-K for FY2024, filed Mar 4, 2025
$369.8M ↗
| Segment | Share | Revenue |
|---|---|---|
|
Commercial/ Retail Bank
|
100%
FY2021: 100%
|
Commercial/ Retail Bank, FY2024
$369.5M Sources
|
|
Mortgage Banking Division
|
0.1%
FY2021: 0.3%
|
Mortgage Banking Division, FY2024
$342K Sources
|
|
Holding Company
|
<0.1%
FY2021: <0.1%
|
Holding Company, FY2024
$38K Sources
|
Who Were Their Customers?
Serves individuals, businesses, and municipal or nonprofit organizations through deposit accounts and consumer and commercial loans.
10-K for FY2024, filed Mar 3, 2025The Company is a community-focused financial institution that offers a full range of financial services to individuals, businesses…View ↗
Deposit Services. We offer a full range of deposit services that are typically available in most banks and savings institutions, including…View ↗
Loan Products. We offer a full range of commercial and personal loans. Commercial loans include both secured and unsecured loans for…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 21 cents of every revenue dollar as net income in FY2024 and turned 22 cents into free cash flow.
How Were They Changing?
-
Apr 7, 2025
The First merged into Renasant; The First Bank merged into Renasant Bank
Each First shareholder received the right to 1.00 Renasant share for each First share.
Sources
8-K, filed Apr 7, 2025
On April 1, 2025 (the “Closing Date”), The First Bancshares, Inc. (“The First” or the “Company”), the parent holding company of The First…View ↗
Grew. Revenue grew 2.1x in 4 years, from $179.3M in FY2020 to $369.8M in FY2024, about 20% a year.
Added rate-management agreements
The latest report includes interest rate swap agreements for commercial customers, expanding beyond the commercial and personal loans described in the older report.
10-K for FY2021, filed Mar 11, 2022 10-K for FY2024, filed Mar 3, 2025Loan Products. We offer a full range of commercial and personal loans. Commercial loans include both secured and unsecured loans for…View ↗
Loan Products. We offer a full range of commercial and personal loans. Commercial loans include both secured and unsecured loans for…View ↗
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