First Bancshares Q2 Net Income Rises 17% to $2.1M, Branch Deal Adds $51M in Assets
FBSI has more than doubled off its 52-week low of $14.25.
Summary
First Bancshares reported Q2 2026 net income of $2.136 million, or $0.89 per diluted share, up from $1.824 million ($0.75) a year ago. The quarter included the acquisition of a Westcliffe, CO branch, which added approximately $51 million in assets and contributed to a 19% year-over-year increase in total assets to $648.5 million. Net interest margin remained strong at 4.76%, supported by low-cost deposits from the acquired branch, though the efficiency ratio ticked up to 56% due to acquisition expenses. The bank remains well-capitalized and expects continued improvement as the new branch integrates.
At the time of this announcement, FBSI was trading at $32.39 on OTC in the Finance sector, with a market capitalization of approximately $79M. The 52-week trading range was $14.25 to $35.96. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.