FIRST BANCSHARES INC /MS/

Overview

• IndustryNational Commercial Banks¹
• HeadquartersHattiesburg, Mississippi¹
• Incorporated inMS²
• Business address6480 Us Highway 98 West, Suite A, Hattiesburg, Ms 39402²
• Filer categoryLarge accelerated filer²

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The First Bancshares, Inc. (“Company”) was incorporated on June 23, 1995 to serve as a bank holding company for The First Bank (“The First”), formerly known as The First, A National Banking Association, headquartered in Hattiesburg, Mississippi. The Company is a Mississippi corporation and is a registered bank holding company. The First began operations on August 5, 1996 from our main office in the Oak Grove community, which is now incorporated within the city of Hattiesburg. As of December 31, 2024, The First operated 116 locations in Mississippi, Alabama, Florida, Georgia and Louisiana. Our principal executive offices are located at 6480 U.S. Highway 98 West, Hattiesburg, Mississippi 39402, and our telephone number is (601) 268-8998.³ From its latest annual report

Corporate structure

FIRST BANCSHARES INC /MS/ sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What FIRST BANCSHARES INC /MS/ reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

Investments

Intangibles and goodwill

Properties, in its own words

Our Company’s main office, which is the holding company headquarters, is located at 6480 U.S. Highway 98 West in Hattiesburg, Mississippi. As of year-end, we had 109 full-service banking and financial service offices, one motor bank facility and six loan production offices across Mississippi, Alabama, Florida, Georgia and Louisiana. Management ensures that all properties, whether owned or leased, are maintained in suitable condition.

The following table sets forth banking office locations that are leased by the Company.

Item 2 of the 10-K filed Mar 3, 2025.³

Leadership

Who has led FIRST BANCSHARES INC /MS/, and when. Pick a name to see everywhere that person has worked.

• Chief executive officerM. Ray Cole Jr. Jul 11, 2012 to Apr 2, 2025¹⁵
• Chief executive officerDavid E. Johnson Nov 22, 2006 to Apr 4, 2008¹⁶
• ChairM. Ray Cole Jr. Feb 21, 2023 to Apr 2, 2025¹⁷
• ChairE. Ricky Gibson Jun 26, 2012 to Mar 2, 2022¹⁸
• ChairDavid E. Johnson Feb 2, 2006 to Apr 4, 2008¹⁹
• PresidentDavid E. Johnson Feb 2, 2006 to Dec 19, 2006¹⁹
• PresidentM. Ray Cole Jr. Nov 22, 2006 to Apr 2, 2025²⁰
• Chief financial officerDonna T. Rutland Nov 6, 2014 to Apr 2, 2025²¹

Timeline

1. Apr 7, 20258-K Completed an acquisition or sale; Listing notice or transfer; Change to shareholders' rights⁴¹
2. Mar 17, 20258-K Other events⁴²
3. Jan 29, 20258-K Results of operations; Other events⁴³
4. Dec 3, 20248-K Regulation FD disclosure⁴⁴
5. Oct 23, 20248-K Results of operations; Other events⁴⁵
6. Oct 22, 20248-K Shareholder vote; Other events⁴⁶
7. Jul 29, 20248-K Entered a material agreement; Regulation FD disclosure⁴⁷
8. Jul 24, 20248-K Results of operations; Regulation FD disclosure; Other events⁴⁸
9. May 24, 20248-K Shareholder vote⁴⁹
10. May 23, 20248-K Regulation FD disclosure⁵⁰
11. May 17, 20248-K Listing notice or transfer; Regulation FD disclosure⁵¹
12. Apr 26, 20248-K Regulation FD disclosure⁵²
13. Jul 11, 2012New chief executive M. Ray Cole Jr. becomes CEO¹⁵
14. Nov 22, 2006New chief executive David E. Johnson becomes CEO¹⁶

Calendar

When it reported results

1. Jan 29, 2025Reported quarterly or annual results⁴³
2. Oct 23, 2024Reported quarterly or annual results⁴⁵
3. Jul 24, 2024Reported quarterly or annual results⁴⁸
4. Apr 25, 2024Reported quarterly or annual results⁵³
5. Jan 25, 2024Reported quarterly or annual results⁵⁴
6. Oct 25, 2023Reported quarterly or annual results⁵⁵
7. Jul 26, 2023Reported quarterly or annual results⁵⁶
8. Apr 27, 2023Reported quarterly or annual results⁵⁷

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

242 filings to the SEC since October 2021: 5 annual reports, 10 quarterly reports, 56 major events, 87 insider forms, 24 large holders, 60 other. The latest 20:

1. Jul 15, 2025SCHEDULE 13G/A EDGAR
2. Apr 17, 202515-12G EDGAR
3. Apr 17, 202515-12G EDGAR
4. Apr 9, 2025EFFECT EDGAR
5. Apr 9, 2025EFFECT EDGAR
6. Apr 8, 2025POS AM EDGAR
7. Apr 8, 2025POS AM EDGAR
8. Apr 7, 2025S-8 POS EDGAR
9. Apr 7, 2025S-8 POS EDGAR
10. Apr 7, 2025S-8 POS EDGAR
11. Apr 7, 2025S-8 POS EDGAR
12. Apr 7, 20258-K EDGAR
13. Apr 7, 2025S-8 POS EDGAR
14. Apr 7, 2025S-8 POS EDGAR
15. Apr 7, 2025S-3/A EDGAR
16. Apr 7, 2025S-3/A EDGAR
17. Apr 3, 20254 EDGAR
18. Apr 2, 20254 EDGAR
19. Apr 2, 20254 EDGAR
20. Apr 2, 20254 EDGAR

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

2 open-market trades by officers, directors and large owners since October 2021: 2 buys and 0 sales. Grants, option exercises and gifts are left out.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

• DIMENSIONAL FUND ADVISORS LPSCHEDULE 13G/A, 2 filings Jan 23, 2025 to Jul 15, 2025⁵⁸
• T. Rowe Price Investment Management, Inc.SC 13G/A, 4 filings Aug 10, 2022 to Nov 14, 2024⁵⁹
• FJ Capital Management LLCSCHEDULE 13G/A, 5 filings Dec 8, 2022 to Nov 13, 2024⁶⁰
• LEHMAN KENNETH RSC 13G/A, 3 filings Jan 11, 2023 to Nov 12, 2024⁶¹
• VANGUARD GROUP INCSC 13G/A, 3 filings Feb 10, 2022 to Feb 13, 2024⁶²
• EJF Capital LPSC 13G/A, 2 filings Feb 11, 2022 to Feb 14, 2023⁶³
• PRICE T ROWE ASSOCIATES INC /MD/SC 13G/A, 2 filings Feb 14, 2022 to Aug 10, 2022⁶⁴

SEC filer profile

How FIRST BANCSHARES INC /MS/ is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

• Name on EDGARFIRST BANCSHARES INC /MS/¹
• CIK0000947559
• Employer ID (EIN)64-0862173³
• Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company³
• Incorporated inMississippi³
• Fiscal year endsDecember 31¹
• Industry code (SIC)6021 National Commercial Banks¹
• SEC reviewing officeOffice of Finance, Division of Corporation Finance¹
• Business address6480 Us Highway 98 West, Suite A, Hattiesburg, MS 39402¹
• Phone6012688998¹
• Shares outstanding31,238,172 as of Mar 24, 2025¹⁴
• Public float$782.9M as of Jun 30, 2024³
• AuditorForvis Mazars, LLP, Jackson, MS PCAOB ID 686; it also attests to the company’s internal control over financial reporting³
• On EDGAR sinceMay 6, 1996¹
• Filings1,127 in all: 4 (358), 8-K (235), 10-Q (62), 425 (36), SC 13G/A (36), CORRESP (33), UPLOAD (31), DEF 14A (29)¹
  All 58 form types

  10QSB (25), 4/A (25), 424B3 (23), EFFECT (23), 10-K (19), SC 13G (17), 5 (14), S-4/A (14), S-4 (12), DEFA14A (11), 3 (9), 10-K/A (7), 10KSB (7), PRE 14A (7), 10-Q/A (6), POS AM (6), S-3 (6), S-8 (6), S-8 POS (6), 8-K/A (5), S-3/A (5), 10QSB/A (4), D (4), NT 10-Q (4), PRER14A (4), S-1/A (4), 10KSB40 (3), 11-K (3), SCHEDULE 13G/A (3), 10KSB/A (2), 15-12G (2), S-1 (2), SCHEDULE 13G (2), 25 (1), 25-NSE (1), 424B2 (1), 424B5 (1), 5/A (1), 8-A12B (1), 8-A12G (1), CERT (1), DEFM14A (1), DEL AM (1), NT 10-K (1), NT 11-K (1), RW (1), S-2 (1), S-2/A (1), SB-2 (1), SB-2/A (1)

• Latest filingsAnnual report (10-K) Mar 3, 2025
  Quarterly report (10-Q) Nov 8, 2024
  Proxy statement (DEF 14A) Apr 10, 2024
  Latest 8-K (8-K) Apr 7, 2025

Securities registered for trading

From the cover page of the 10-K filed Mar 3, 2025 (Section 12(b) of the Exchange Act).³

Risk factors and legal proceedings

The risks FIRST BANCSHARES INC /MS/ names in Item 1A of its 10-K filed Mar 3, 2025: 30 risks under these headings, as written.³

• Risks Related to the Renasant Merger
• Failure to complete the Renasant Merger could negatively affect our stock price and our future business and financial results.
• Because the market price of Renasant common stock will fluctuate, the value of the merger consideration to be received by the Company’s shareholders may change.
• Regulatory approvals may not be received, may take longer than expected or may impose conditions that are not presently anticipated, cannot be met, or that could have an adverse effect on the combined company following the consummation of the Renasant Merger.
• General economic conditions in the areas where our operations or loans are concentrated may adversely affect our financial results or liquidity.
• We may be vulnerable to certain sectors of the economy, including real estate.
• Unpredictable market conditions may adversely affect the industry in which we operate.
• We must maintain an appropriate allowance for credit losses.
• We are subject to risks related to changes in market interest rates.
• Certain changes in interest rates, inflation, or the financial markets could affect demand for our products and our ability to deliver products efficiently.
• Evaluation of investment securities for impairment involves subjective determinations and could materially impact our results of operations and financial condition.
• Changes in the policies of monetary authorities and other government action could adversely affect profitability.

Legal proceedings

From time to time the Company and/or The First may be named as defendants in various lawsuits arising out of the normal course of business. At present, with the exception of the matter described below, the Company is not aware of any legal proceedings that it anticipates may materially adversely affect its business.

Nancy Hall, et al. v. The First Bancshares, Inc., Case No. 2:23-cv-192, United States District Court, Southern District of Mississippi.

On December 7, 2023, Nancy Hall, individually and on behalf of all others similarly situated (“Plaintiff”), sued The First Bancshares, Inc., as successor in interest to Heritage Southeast Bank, in a putative class action complaint in

federal district court for the Southern District of Mississippi. Plaintiff asserts claims based on the alleged improper assessment and collection of overdraft fees. Specifically, Plaintiff's claims relate to overdraft fees resulting from alleged “authorized positive, settle negative” or APSN debit card transactions. The complaint asserts causes of action of breach of contract, including the covenant of good faith and fair dealing, and unjust enrichment. The complaint also asserts a claim for alleged violations of Regulation E of the Electronic Funds Transfer Act. The complaint seeks an unspecified amount of damages, restitution, costs, attorney's fees, and interest, as well as injunctive relief.

The opening of Item 3, Legal Proceedings.³