First Bancshares, Inc. Announces Operating Results for the Quarter Ended September 30, 2026

MOUNTAIN GROVE, Mo., Oct. 09, 2026 (GLOBE NEWSWIRE) -- First Bancshares, Inc. (OTCQX: FBSI) (“Company”), the holding company for Stockmens Bank (“Bank”), today announced its unaudited financial results for the quarter ended September 30, 2026.

For the third quarter of 2026, the Company reported after-tax net income of $2,559,000 or $1.05 per share-diluted compared to $2,008,000 or $0.83 per share-diluted for the same period in 2025. For the nine months ended September 30, 2026, net income was $6,814,000 or $2.82 per share-diluted, compared to $5,524,000 or $2.29 per share-diluted for the same period in 2025. Third quarter net income and earnings per share were Company records, marking the sixth consecutive quarter of record earnings and reflecting continued improvement in core operations that began well before the recent expansion activity. Net interest income increased 26.9% over the prior-year quarter on strong loan growth. Interest expense increased only 7.0% despite 20.8% deposit growth, reducing cost of funds to 1.77% from 2.01% and expanding net interest margin to 4.87% from 4.62%. The efficiency ratio improved to 56.7% for the first nine months of 2026 from 59.3% for the same period in 2025, despite acquisition-related expenses. With the Westcliffe, CO branch now contributing a full quarter, the annualized after-tax return on assets rebounded to 1.53% from 1.37% in the second quarter, and the annualized after-tax return on equity rebounded to 14.18% from 12.38%. Both of those ratios exceed the 1.43% and 12.57% reported for the third quarter of 2025.

Since September 30, 2025, consolidated total assets increased 19.8% to $685.7 million and net loans receivable increased 25.0% to $582.2 million. The deposit portfolio remains core in nature, with no brokered deposits, and grew 20.8% to $596.0 million. Third quarter growth was organic, with net loans increasing $34.3 million and deposits increasing $31.1 million from June 30, 2026. Stockholders’ equity rose 16.6% to $75.1 million, which includes approximately $3.2 million of equity capital raised from the Company’s core shareholder group to support expansion into new markets, and the Company continues to carry no holding company debt.

Asset quality remains at exceptionally low levels. Nonaccrual loans declined 42.8% from a year ago to $831,000, or 0.14% of net loans, and loans past due totaled $767,000, or 0.13% of net loans. The allowance for credit losses stands at 1.56% of loans, more than ten times the balance of nonaccrual loans, and the increase in the provision for credit losses reflects loan growth rather than credit deterioration. Together with the de novo branch in Hugo, Colorado, the Westcliffe acquisition has expanded the Company’s Colorado footprint and franchise value, while the third quarter results demonstrate the earnings capacity of the combined organization.

The Bank meets all regulatory requirements for “well-capitalized” status.

About the Company

First Bancshares, Inc. is the holding company for Stockmens Bank, an FDIC-insured, Colorado state-chartered commercial bank headquartered in Colorado Springs. The bank operates full-service offices in Hugo, Akron, and Westcliffe, Colorado; Bartley, Nebraska; and eight Missouri communities: Mountain Grove, Marshfield, Ava, Kissee Mills, Gainesville, Crane, Hartville, and Springfield.

Cautionary Note Regarding Forward-Looking Statements

The Company and its wholly owned subsidiary, Stockmens Bank, may from time to time make written or oral “forward-looking statements” in its reports to shareholders, and in other communications by the Company, which are made in good faith by the Company pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995.

These forward-looking statements include statements with respect to the Company’s beliefs, expectations, estimates and intentions that are subject to significant risks and uncertainties, and are subject to change based on various factors, some of which are beyond the Company’s control. Such statements address the following subjects: future operating results; customer growth and retention; loan and other product demand; earnings growth and expectations; new products and services; credit quality and adequacy of reserves; results of examinations by our bank regulators, technology, and our employees. The following factors, among others, could cause the Company’s financial performance to differ materially from the expectations, estimates and intentions expressed in such forward-looking statements: the strength of the United States economy in general and the strength of the local economies in which the Company conducts operations; the effects of, and changes in, trade, monetary, and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; inflation, interest rate, market, and monetary fluctuations; the timely development and acceptance of new products and services of the Company and the perceived overall value of these products and services by users; the impact of changes in financial services’ laws and regulations; technological changes; acquisitions; changes in consumer spending and savings habits; and the success of the Company at managing and collecting assets of borrowers in default and managing the risks of the foregoing. 

The foregoing list of factors is not exclusive. The Company does not undertake, and expressly disclaims any intent or obligation, to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.

Contact:  Robert M. Alexander, Chairman and CEO - (719) 955-2800