HATTIESBURG, Miss.--(BUSINESS WIRE)--
Executives of The First Bancshares, Inc. (NASDAQ: FBMS), holding company
for The First, A National Banking Association, (www.thefirstbank.com)
announced today that The First Bancshares, Inc., has acquired BCB
Holding Company, Inc., holding company for Mobile, AL based Bay Bank.
The First, A National Banking Association President and CEO Hoppy Cole
said: “We are pleased to welcome the customers and staff of Bay Bank to
our team. We are excited about the opportunities that this merger will
create in the Mobile market. The combination of Bay Bank and The First
will create a community bank focused on its local markets with the
products, services and lending capacity of a $1 billion dollar
The acquisition that was announced today will further expand The First
across the Gulf Coast providing four new branches in Mobile County with
a total of 10 locations in Baldwin and Mobile Counties making FBMS the
community bank with the largest market share in those combined counties.
The acquisition of Bay Bank gives The First customers a total of 31
convenient locations in south Mississippi, Louisiana and South Alabama.
The First will now have approximately $1.1 billion in assets and $950
million in deposits.
About The First Bancshares, Inc.
The First Bancshares, Inc., headquartered in Hattiesburg, Miss., is the
parent company of The First, A National Banking Association. Founded in
1996 near Hattiesburg, Mississippi, The First has grown rapidly through
south Mississippi, south Alabama and Louisiana providing services
competitive to those found at larger regional banks. The Company’s stock
is traded on Nasdaq Global Market under the symbol FBMS. Information is
available on the Company’s website www.thefirstbank.com.
Forward Looking Statement
This news release contains statements regarding the projected
performance of The First Bancshares, Inc. and its subsidiary. These
statements constitute forward-looking information within the meaning of
the Private Securities Litigation Reform Act. Actual results may differ
materially from the projections provided in this release since such
projections involve significant known and unknown risks and
uncertainties. Factors that might cause such differences include, but
are not limited to: competitive pressures among financial institutions
increasing significantly; economic conditions, either nationally or
locally, in areas in which the Company conducts operations being less
favorable than expected; and legislation or regulatory changes which
adversely affect the ability of the combined Company to conduct business
combinations or new operations. The Company disclaims any obligation to
update such factors or to publicly announce the results of any revisions
to any of the forward-looking statements included herein to reflect
future events or developments. Further information on The First
Bancshares, Inc. is available in its filings with the Securities and
Exchange Commission, available at the SEC’s website, http://www.sec.gov.
The First Bancshares, Inc.
M. Ray “Hoppy” Cole, CEO,
DeeDee Lowery, CFO, 601-268-8998
Source: The First Bancshares, Inc.