First Bancshares Inc. Reports Fourth Quarter 2022 Financial Results

Bellevue, Ohio – First Bancshares, Inc., the holding company for First National Bank of Bellevue and sole shareholder of First Bellevue Properties, reported a fourth quarter dividend of thirty-three cents ($0.33) per share.

The company showed some slight balance sheet decline as deposit balances decreased due to excess liquidity in the market starting to dissipate. Net income for the year was slightly lower than 2021 which was aided by the revenue of the Paycheck Protection Program that ended last year.

The net interest margin remained solid at 3.65% compared to 3.67% for the same time period a year ago. Return on Equity for the year was strong at 15.03% compared to 11.92% in 2021. The loan to deposit ratio improved to 64.25% which is up from 61.32% last year.

First National Bank, a community bank with nine banking offices located in Bellevue, Catawba Island, Clyde, Fremont, Norwalk, Perkins, 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, which is a subsidiary formed to hold other real estate.

The shares of First Bancshares, Inc are traded under the ticker symbol FIBH on the OTCIQ Exchange.

For more information, please visit their website at or by calling 419-483-7340.

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