The First Bancshares, Inc. (FBMS)

The First Bancshares Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	321.67	294.54	157.77	151.2	157.56
Interest Income on Investments	48.17	46.39	42.63	25.54	21.78
Total Interest Income	369.84	340.93	200.39	176.75	179.35
Interest Paid on Deposits	117.85	71.36	13.98	12.06	19.61
Interest Paid on Borrowings	17.72	20.25	8.6	7.62	7.06
Total Interest Expense	135.57	91.61	22.58	19.68	26.66
Net Interest Income	234.27	249.33	177.82	157.06	152.68
Net Interest Income Growth (YoY)	-6.04%	40.22%	13.21%	2.87%	25.35%
Mortgage Banking Activities	3.35	2.87	4.3	8.82	10.45
Gain (Loss) on Sale of Assets	-0.18	0.04	-0.12	-0.26	0.44
Gain (Loss) on Sale of Investments	-0.11	-9.72	-0.08	0.14	0.28
Other Non-Interest Income	32.8	39.34	22.06	20.51	16.2
Total Non-Interest Income	49.76	46.71	35.05	36.17	34.04
Non-Interest Income Growth (YoY)	6.55%	33.25%	-3.10%	6.26%	26.33%
Revenues Before Loan Losses	284.03	296.03	212.87	193.24	186.73
Provision for Loan Losses	3.79	14.5	5.61	-1.1	25.15
Revenue	280.24	281.53	207.26	194.34	161.57
Revenue Growth (YoY)	-0.46%	35.83%	6.65%	20.28%	11.42%
Salaries and Employee Benefits	102.15	91.09	70.62	62.75	58.85
Federal Deposit Insurance	4.02	3.85	2.12	2.07	1.35
Amortization of Goodwill & Intangibles	9.53	-	-	-	-
Selling, General & Administrative	29.51	38.56	27.33	27.55	24.71
Other Non-Interest Expense	33.33	42.15	24.01	20.58	18.11
Total Non-Interest Expense	178.54	175.65	124.07	112.95	103.03
EBT Excluding Unusual Items	101.71	105.88	83.19	81.39	58.55
Other Unusual Items	-	-	0.28	1.3	7.84
Pretax Income	97.97	96.8	78.69	81.08	63.07
Income Tax Expense	20.77	21.35	15.77	16.92	10.56
Net Income	77.19	75.46	62.92	64.17	52.51
Net Income to Common	77.19	75.46	62.92	64.17	52.51
Net Income Growth	2.30%	19.93%	-1.94%	22.21%	20.03%
Basic Shares Outstanding	32	31	22	21	21
Diluted Shares Outstanding	32	32	22	21	21
Shares Change (YoY)	0.23%	42.41%	4.72%	1.65%	21.17%
EPS (Basic)	2.44	2.41	2.86	3.05	2.53
EPS (Diluted)	2.44	2.39	2.84	3.03	2.52
EPS Growth	2.09%	-15.85%	-6.27%	20.24%	-1.18%
Dividend Per Share	1.000	0.940	0.780	0.620	0.450
Dividend Growth	6.38%	20.51%	25.81%	37.78%	32.35%
Effective Tax Rate	21.20%	22.05%	20.04%	20.86%	16.75%

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