Summary
The First Bancshares, Inc. operates as the bank holding company for The First, A National Banking Association that provides general commercial and retail banking services. The company operates through three segments: Commercial/Retail Bank, Mortgage Banking Division, and Holding Company. It offers deposit services, including checking, NOW, and savings accounts; other time deposits, such as daily money market accounts and longer-term certificates of deposit; and individual retirement and health savings accounts. The company also provides commercial loans comprising secured and unsecured loans for working capital, business expansion, and purchase of equipment and machinery; consumer loans consisting of equity lines of credit, as well as secured and unsecured loans for financing automobiles, home improvements, education, and personal investments; and real estate construction and acquisition loans. In addition, it originates loans to purchase existing residential homes or construct new homes, and to refinance existing mortgages; and provides financial and wealth management services. Further, the company offers internet banking services, automated teller machines, voice response telephone inquiry services, commercial sweep accounts, cash management services, safe deposit boxes, merchant, mobile deposit, direct deposit of payroll and social security checks, automatic drafts for various accounts, and credit card services. It primarily serves small to medium-sized businesses, professional concerns, individuals, associations, organizations, and governmental authorities. As of December 31, 2021, the company operated 90 locations in Mississippi, Alabama, Florida, Georgia, and Louisiana. The First Bancshares, Inc. was incorporated in 1995 and is headquartered in Hattiesburg, Mississippi.
History
FirstBank was the first Savings & Loan institution established in Puerto Rico with a capital of $200,000 in 1948. Today, the company provides financial services for retail, commercial and institutional clients in Puerto Rico, US Virgin Islands, British Virgin Islands and Florida. First BanCorp is headquartered in San Juan, Puerto Rico and is ranked the 669th and 1537th Largest Company In The World in Forbes magazine by Total Assets and Profits. On 2006 it had over $18.8 billion in assets.
As of May, 2016, First owed $124.97 million to the US government Troubled Asset Relief Program.In October 2019, FirstBank announced their intention to purchase Banco Santander de Puerto Rico. The transaction was approved by regulators on July 28, 2020 and should be completed by September 1, 2020.
Mission
The First Bancshares strives to make banking and financial services available to the communities it serves, providing customers with exceptional service, competitive products and the convenience of modern banking.
Vision
The First Bancshares works to become the financial institution of choice by providing comprehensive products and services focused on creating a long-term relationship with customers. We strive to remain profitable while delivering exceptional customer service and achieving superior financial results.
Key Team
Dawn Ard (Compliance Officer & Compliance Officer of The First, A National Banking Association)
Ms. Marsie White (VP of Human Resource)
Ray L. Wesson Jr. (Pres of Southern Region - The First, A National Banking Association)
Ms. Chandra B. Kidd (VP & Corp. Sec.)
Mr. Douglas Eric Waldron (Pres of Northern Region - The First, A National Banking Association)
Ms. Carol M. Daniel (Credit Administrator of The First, A National Banking Association)
Hayden Mitchell (Chief Retail Banking Officer & Exec. VP of The First, A National Banking Association)
Recognition and Awards
The First Bancshares has been recognized numerous times for its superior customer service and product offerings. Recently, the company was named a 2019 Top 200 Community Bank by American Banker magazine. In 2018, the company received the Banker of the Year award from the Mississippi Banker's Association.
References
United States 