First Bancshares, Inc Announces Second Quarter Results for 2023.

MOUNTAIN GROVE, Mo: First Bancshares, Inc. (OTCQX: FBSI) ("Company"), the holding company for Stockmens Bank ("Bank"), today announced its financial results for the quarter ended June 30, 2023.

For the quarter ended June 30, 2023, the Company reported net income of $1,735,000 or $0.71 per share-diluted, compared to $1,401,000, or $0.57 per share-diluted for the comparable period in 2022. Year to date the Company reported net income of $3,522,000 or $1.44 per share compared to $2,421,000 or $0.99 per share the same period 2022. Year to date changes from the six months ended June 30, 2022, include a $2,213,000 increase in net interest income after provisions for loan losses, along with a $51,000 increase in non-interest income, offset by a $778,000 increase in non-interest expense, and a $385,000 increase in income tax expense. This resulted in a $1,101,000 increase in net income for the six months ended June 30, 2023, compared to the six months ended June 30, 2022. The increase in non-interest expenses is primarily due to increases in employment related expenses, professional fees, and an industry-wide elevation in the FDIC's...