The First Bancshares Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 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	32.28	39.34	22.06	20.51	16.2
Total Non-Interest Income	49.16	46.71	35.05	36.17	34.04
Non-Interest Income Growth (YoY)	5.26%	33.25%	-3.10%	6.26%	26.33%
Revenues Before Loan Losses	283.43	296.03	212.87	193.24	186.73
Provision for Loan Losses	3.79	14.5	5.61	-1.1	25.15
Revenue	279.64	281.53	207.26	194.34	161.57
Revenue Growth (YoY)	-0.67%	35.83%	6.65%	20.28%	11.42%
Salaries and Employee Benefits	97.53	91.11	70.65	62.75	58.85
Federal Deposit Insurance	4.01	3.85	2.12	2.07	1.35
Amortization of Goodwill & Intangibles	9.53	9.56	4.66	-	-
Selling, General & Administrative	39.42	38.54	27.29	27.55	24.71
Other Non-Interest Expense	28.04	32.59	19.34	20.58	18.11
Total Non-Interest Expense	178.54	175.65	124.07	112.95	103.03
EBT Excluding Unusual Items	101.11	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)	0.18%	42.41%	4.72%	1.65%	21.17%
EPS (Basic)	2.45	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%

Updated Mar 3, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

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