First Bancshares, Inc. Holds Annual Shareholder Meeting
Press Release Date: May 1, 2020
Bellevue, Ohio – First Bancshares, Inc., holding company for First National Bank of Bellevue and sole owner of First Bellevue Properties, held their annual Shareholder Meeting on Wednesday, April 29 as a virtual meeting with shareholders provided a telephone number to call in.
The business portion of the meeting resulted in the re-election of three tenured board members with terms expiring in 2023: Duffield E. Milkie, Vice President/General Counsel – Cedar Fair L.P.; Dean J. Miller, President/CEO – First Bancshares, Inc.; and Melvin H. Miller, Retired President/Chairman – Janotta & Herner, Inc.
John A. Coppeler, Attorney of Law – Flynn Py & Kruse was elected as the Chairman of First Bancshares, Inc and James V. Stouffer, Jr., President/CEO – Catawba Island Club was elected Vice-Chairmen of the Board.
2019 was another solid year for the company. Some detailed highlights for 2019 show a slight increase in total assets with a year-end total in excess of $227 million, which is roughly 2% higher than last year. Of this total, the company did see a small drop in total loan balances of less than $1mm and an increase in deposit balances of over $9mm equating to an increase of 5%. This shift in their balance sheet helped their liquidity position by lowering their loan to deposit ratio and allowing them to add balances in their investment portfolio.
Beginning in March 2019, the Bellevue Main Office underwent an addition and a complete renovation of the lobby with construction completed in early 2020. The Bank is expanding into Perkins Township with the opening of a branch on US 250 this August. Minor work is being completed on the building. 2020 marks the 145th anniversary of First National Bank with plans to celebrate this fall.
Additional First Bancshares Board of Directors consists of Sharon Barnes, Vice President of Barnes Nursery, Inc.; Adam L. Crockett, Co-Owner of Green Hills Golf Course & Inn, Inc.; Gordon A. Gibbs, Director Emeritus; Steven L. Mays, DVM, Doctor of Veterinary Medicine; and Michael K. Winthrop, President/CEO – The Bellevue Hospital.
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 “OTCIQ Exchange”.
For more information, please visit their website at www.fnblifetime.com or by calling 419-483-7340.
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