The First Bancshares, Inc. Declares Cash Dividend, Payable on February 26, 2019; Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2018
January 29, 2019 at 09:51 am EST
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The First Bancshares, Inc. announced that its board of directors declared a cash dividend of $0.07 per share, an increase of $0.02 per share, or 40.0% to be paid on its common stock on February 26, 2019 to shareholders of record as of the close of business on February 11, 2019.
The company announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2018. For the quarter, the company reported net interest income of $25,270,000 compared to $15,221,000 a year ago. Net income available to common shareholders was $6,861,000 compared to $2,414,000 a year ago. Diluted earnings per common share was $0.48 compared to $0.23 a year ago. Diluted earnings per common share, operating was $0.64 compared to $0.45 a year ago.
For the full year, the company reported net interest income of $84,887,000 compared to $59,160,000 a year ago. Net income available to common shareholders was $21,225,000 compared to $10,616,000 a year ago. Diluted earnings per common share was $1.62 compared to $1.11 a year ago. Diluted earnings per common share, operating was $2.29 compared to $1.76 a year ago.
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.
The First Bancshares, Inc. Declares Cash Dividend, Payable on February 26, 2019; Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2018