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First Bancshares Inc (OTCMKTS:FBSI) Stock In Focus Earnings Update

Jon Williams , , , ,

The holding company of the firm Stockmens Bank, First Bancshares Inc (OTCMKTS:FBSI) was in focus on Friday when it announced its financial results for the first fiscal quarter that had ended on March 31, 2023.

Trading Data     

On Friday, FBSI stock ended flat at $21.90 with more than 426 shares, compared to volume of 162 shares. The stock moved within a range of $21.90 – 21.90 after opening trade at $21.90.

First Bancshares, Inc. Announces First Quarter Results for 2023

The company announced that it had managed to generate net income of as much as $1,787,000, which worked out to $0.73 for each diluted share. In the same period in 2022 the company managed to generate net income of $1,020,000, which worked out to $0.42 per diluted shares. In the quarter that ended in March 31, 2023 the company managed to boost its net income to the tune of $767,000.

The consolidated total assets with the company stood at $500.17 million and that worked out to a boost of as much as 6.06%. In the prior year period, the company had consolidated total assets to the tune of $471.58 million. The net loans with First Bancshares went up by 2.37% to $414.79 million since the end of 2022. On the other hand, the liquid assets with the company shot up by 30.21% to $44.04 million and total deposits went up by as much as 3.33% to $434.65 million.

Jon Williams

Jon graduated from the University of Michigan with a degree in finance. He is an avid investor and enjoys reporting on the markets. When he is not in front of a computer he enjoys playing golf and watching basketball.