First Bancshares, Inc. Reports 1st Quarter 2018 Financial Results
Press Release Date: May 4, 2018
First Bancshares, Inc., holding company for First National Bank of Bellevue and sole shareholder of First Bellevue Properties, reported a first quarter dividend of twenty-five cents ($0.25) per share. This amounts to a 4% increase or one cent over the most recent quarter end.
The first three months of the year have generated strong results. Net interest income for the quarter increased by 3% over the same period in 2017. Non-interest income is 22% higher than the first 3 months of the prior year. Total expenses were up 3% mainly due to increased overhead and personnel expenses related to the new Fremont branch office which opened on June 1, 2017.
The company experienced solid growth in balances of both loans and deposits. This growth is occurring in all our existing offices along with additional business being developed in the Fremont market with the opening of the new office almost 9 months ago.
First National Bank, a community bank with seven banking offices located in Bellevue, Catawba Island, Clyde, Fremont, Port Clinton, Put-in-Bay and Sandusky, is the primary operating company of First Bancshares. First Bancshares, Inc. is also the sole shareholder of First Bellevue Properties, a real estate and other asset holding subsidiary
The shares of First Bancshares, Inc. are traded under the ticker symbol FIBH on the OTC Pink Sheet Exchange.
For more information, please visit their website at www.fnblifetime.com or by calling 419-483-7340.