The First Bancshares, Inc. (FBMS)

The First Bancshares Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	316.86	294.54	157.77	151.2	157.56	128.86
Interest Income on Investments	48.11	46.39	42.63	25.54	21.78	19.67
Total Interest Income	364.97	340.93	200.39	176.75	179.35	148.53
Interest Paid on Deposits	113.6	71.36	13.98	12.06	19.61	19.76
Interest Paid on Borrowings	19.55	20.25	8.6	7.62	7.06	6.96
Total Interest Expense	133.16	91.61	22.58	19.68	26.66	26.72
Net Interest Income	231.81	249.33	177.82	157.06	152.68	121.81
Net Interest Income Growth (YoY)	-3.25%	40.22%	13.21%	2.87%	25.35%	43.49%
Mortgage Banking Activities	2.87	2.87	4.3	8.82	10.45	5.99
Gain (Loss) on Sale of Assets	-0.71	0.04	-0.12	-0.26	0.44	0.01
Gain (Loss) on Sale of Investments	-9.48	-9.72	-0.08	0.14	0.28	0.12
Other Non-Interest Income	34.04	39.34	22.06	20.51	16.2	13.13
Total Non-Interest Income	40.59	46.71	35.05	36.17	34.04	26.95
Non-Interest Income Growth (YoY)	-22.66%	33.25%	-3.10%	6.26%	26.33%	31.06%
Revenues Before Loan Losses	272.4	296.03	212.87	193.24	186.73	148.75
Provision for Loan Losses	3.9	14.5	5.61	-1.1	25.15	3.74
Revenue	268.5	281.53	207.26	194.34	161.57	145.02
Revenue Growth (YoY)	-3.46%	35.83%	6.65%	20.28%	11.42%	40.34%
Salaries and Employee Benefits	95.73	91.09	70.62	62.75	58.85	45.34
Federal Deposit Insurance	3.85	3.85	2.12	2.07	1.35	0.63
Selling, General & Administrative	39.58	38.56	27.33	27.55	24.71	20.36
Other Non-Interest Expense	35.64	42.15	24.01	20.58	18.11	15.96
Total Non-Interest Expense	174.8	175.65	124.07	112.95	103.03	82.29
EBT Excluding Unusual Items	93.7	105.88	83.19	81.39	58.55	62.72
Other Unusual Items	-	-	0.28	1.3	7.84	-
Pretax Income	90.16	96.8	78.69	81.08	63.07	56.45
Income Tax Expense	20.22	21.35	15.77	16.92	10.56	12.7
Net Income	69.94	75.46	62.92	64.17	52.51	43.75
Net Income to Common	69.94	75.46	62.92	64.17	52.51	43.75
Net Income Growth	-13.33%	19.93%	-1.94%	22.21%	20.03%	106.10%
Basic Shares Outstanding	31	31	22	21	21	17
Diluted Shares Outstanding	32	32	22	21	21	17
Shares Change (YoY)	6.43%	42.41%	4.72%	1.65%	21.17%	31.24%
EPS (Basic)	2.22	2.41	2.86	3.05	2.53	2.57
EPS (Diluted)	2.21	2.39	2.84	3.03	2.52	2.55
EPS Growth	-18.59%	-15.85%	-6.27%	20.24%	-1.18%	57.41%
Dividend Per Share	1.000	0.940	0.780	0.620	0.450	0.340
Dividend Growth	11.11%	20.51%	25.81%	37.78%	32.35%	54.55%
Effective Tax Rate	22.42%	22.05%	20.04%	20.86%	16.75%	22.50%

Source: S&P Capital IQ. Banks template. Financial Sources.