The First Bancshares, Inc. (FBMS): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el plan estratégico del primer Bancshares, Inc. (FBMS), una potencia bancaria regional dinámica que transforma los servicios financieros tradicionales a través de enfoques innovadores. Al combinar magistralmente la banca comunitaria personalizada con soluciones digitales de vanguardia, FBMS ha creado un modelo de negocio que va más allá de las meras interacciones transaccionales, creando asociaciones financieras profundas en el panorama económico diverso de Mississippi. Su lienzo único revela una estrategia sofisticada que aprovecha las relaciones locales, la destreza tecnológica y la experiencia financiera integral para ofrecer experiencias bancarias incomparables para empresas e individuos por igual.

The First Bancshares, Inc. (FBMS) - Modelo de negocios: asociaciones clave

Instituciones financieras locales y regionales para servicios colaborativos

A partir de 2024, The First Bancshares, Inc. mantiene asociaciones estratégicas con:

Tipo de socio	Número de asociaciones	Cobertura geográfica
Bancos comunitarios	12	Mississippi, Alabama, Louisiana
Coeficientes de crédito	8	Sudeste de los Estados Unidos

Proveedores de tecnología que proporcionan soluciones de banca digital

Las asociaciones de tecnología clave incluyen:

• Jack Henry & Asociados para la plataforma bancaria central
• Fiserv para infraestructura bancaria digital
• ACI en todo el mundo para sistemas de procesamiento de pagos

Empresas de seguros e inversiones para productos financieros complementarios

Empresa asociada	Colaboración de productos	Participación anual de ingresos
Seguro de confianza	Servicios de gestión de patrimonio	$ 1.2 millones
Morgan Stanley	Aviso de inversión	$850,000

Redes de pequeñas empresas y cámaras de comercio

Detalles de la asociación:

• Consejo Económico de Mississippi: miembro activo
• Consejo de Negocios de la Costa del Golfo: socio estratégico
• Cámaras locales de comercio en 3 estados

Consultores de cumplimiento regulatorio y gestión de riesgos

Consultoría	Servicio proporcionado	Valor anual del contrato
Deloitte	Cumplimiento regulatorio	$475,000
PWC	Aviso de gestión de riesgos	$385,000

The First Bancshares, Inc. (FBMS) - Modelo de negocio: actividades clave

Servicios de banca comercial y minorista

A partir del cuarto trimestre de 2023, el primer Bancshares, Inc. reportó activos totales de $ 7.8 mil millones y depósitos totales de $ 6.5 mil millones. El banco opera 90 sucursales de servicio completo en Mississippi y Alabama.

Categoría de servicio bancario	Ingresos anuales (2023)	Segmento de clientes
Préstamo comercial	$ 156.4 millones	Empresas pequeñas a medianas
Banca minorista	$ 87.2 millones	Consumidores individuales

Desarrollo y mantenimiento de la plataforma de banca digital

FBMS invirtió $ 4.3 millones en infraestructura digital en 2023, respaldo:

• Aplicación de banca móvil
• Plataformas de transacciones en línea
• Mejoras de ciberseguridad

Originación de préstamo y gestión de cartera

Categoría de préstamo	Valor total de la cartera	Margen de interés neto
Préstamos comerciales	$ 3.2 mil millones	4.75%
Hipotecas residenciales	$ 1.9 mil millones	3.62%

Asesoramiento financiero y gestión de patrimonio

El segmento de gestión de patrimonio generó $ 22.6 millones en ingresos para 2023, con $ 542 millones en activos bajo administración.

Evaluación de riesgos y evaluación de crédito

• Equipo de gestión de riesgos de crédito de 42 profesionales
• Ratio de préstamo sin rendimiento: 0.89%
• Presupuesto de evaluación anual de cumplimiento y riesgo: $ 3.1 millones

The First Bancshares, Inc. (FBMS) - Modelo de negocio: recursos clave

Red bancaria regional fuerte

A partir del cuarto trimestre de 2023, el primer Bancshares, Inc. opera 82 ubicaciones bancarias en Mississippi. Los activos totales reportados en $ 4.84 mil millones.

Métricas de red	Cantidad
Ubicaciones bancarias totales	82
Activos totales	$ 4.84 mil millones
Depósitos totales	$ 4.24 mil millones

Infraestructura bancaria digital

Inversión tecnológica en plataformas digitales e infraestructura de ciberseguridad.

• Plataforma bancaria en línea
• Aplicación de banca móvil
• Sistemas avanzados de ciberseguridad

Recursos de capital humano

Total de empleados: 834 al 31 de diciembre de 2023.

Categoría de empleado	Número
Total de empleados	834
Gestión ejecutiva	12

Recursos de capital financiero

Métricas financieras a partir del cuarto trimestre 2023:

• Relación de capital de nivel 1: 13.42%
• Relación de capital total: 14.67%
• Equidad de los accionistas: $ 528 millones

Gestión de datos de clientes

Sistema de gestión de relaciones con el cliente Propietario Seguimiento de más de 150,000 cuentas de clientes.

The First Bancshares, Inc. (FBMS) - Modelo de negocio: propuestas de valor

Soluciones bancarias personalizadas para comunidades locales

A partir del cuarto trimestre de 2023, el primer Bancshares, Inc. atiende a 39 lugares bancarios en Mississippi y Alabama. Los activos totales informaron en $ 5.64 mil millones con un enfoque en los servicios bancarios centrados en la comunidad.

Segmento de mercado	Cobertura geográfica	Base de clientes
Banca comunitaria local	39 ubicaciones bancarias	Más de 185,000 cuentas de clientes

Tasas de interés competitivas y productos financieros

Tasas de interés para productos bancarios centrales a partir de enero de 2024:

• Cuentas de ahorro personal: 0.75% - 1.25% APY
• Certificados de depósito: 3.50% - 4.75% APY
• Cuentas corrientes de negocios: tarifas competitivas sin tarifas de mantenimiento mensuales

Convenientes experiencias de banca digital y móvil

Métricas de plataforma digital	2023 estadísticas
Usuarios de banca móvil	87,500 usuarios activos
Volumen de transacciones en línea	2.3 millones de transacciones mensuales

Servicio al cliente basado en relaciones

Tasa de retención de clientes en 2023: 92.4%, con una duración promedio de la relación con el cliente de 7.6 años.

Servicios integrales de planificación financiera y asesoramiento

• Activos de gestión de patrimonio: $ 742 millones
• Clientes de asesoramiento de inversiones: 4.300
• Servicios de planificación financiera: consultas de cortesía para los clientes existentes

Desglose del servicio de asesoramiento	2023 rendimiento
Planificación de jubilación	1.850 consultas de clientes
Gestión de la cartera de inversiones	$ 328 millones bajo gestión activa

The First Bancshares, Inc. (FBMS) - Modelo de negocios: relaciones con los clientes

Gerentes de relaciones bancarias personales

A partir de 2024, el primer Bancshares, Inc. emplea a 87 gerentes de relaciones dedicados en sus sucursales de Mississippi y Alabama. Estos gerentes manejan una cartera de clientes promedio de 128 clientes de banca comercial de alto nivel de red.

Región de rama	Número de gerentes de relaciones	Tamaño promedio de la cartera de clientes
Misisipí	52	124 clientes
Alabama	35	132 clientes

Compromiso del cliente centrado en la comunidad

El banco mantiene 42 eventos de participación comunitaria anualmente, dirigidos a redes comerciales locales y organizaciones comunitarias.

• Participación total de eventos comunitarios: 3.245 personas en 2024
• Eventos locales de redes comerciales: 18 eventos
• Sesiones de educación financiera comunitaria: 24 eventos

Plataformas de autoservicio en línea y móviles

Las plataformas de banca digital sirven a 76,542 usuarios activos en 2024, lo que representa el 68% de la base total de clientes del banco.

Plataforma digital	Usuarios activos	Transacciones mensuales
Aplicación de banca móvil	62,345	1,247,890
Sitio web de banca en línea	14,197	423,567

Talleres regulares de educación financiera

El banco realiza 36 talleres de educación financiera anualmente, llegando a 1.872 participantes en sus regiones de servicio.

• Talleres de finanzas personales: 18 sesiones
• Planificación financiera de pequeñas empresas: 12 sesiones
• Seminarios de planificación de jubilación: 6 sesiones

Canales de atención al cliente receptivos

La infraestructura de atención al cliente maneja el 97.3% de las consultas de los clientes dentro de las 24 horas.

Canal de soporte	Tiempo de respuesta promedio	Tasa de satisfacción del cliente
Soporte telefónico	12 minutos	94.5%
Soporte por correo electrónico	4 horas	92.7%
Chat en vivo	3 minutos	96.2%

The First Bancshares, Inc. (FBMS) - Modelo de negocio: canales

Red de sucursales bancarias físicas

A partir de 2023, el primer Bancshares, Inc. opera 98 sucursales de bancos de servicio completo en Mississippi y Alabama.

Estado	Número de ramas
Misisipí	76
Alabama	22

Sitio web de banca en línea

El banco proporciona una plataforma de banca en línea integral con las siguientes características:

• Seguimiento del saldo de la cuenta
• Transferencias de fondos
• Servicios de pago de facturas
• Declaraciones electrónicas

Aplicación de banca móvil

Estadísticas de la aplicación de banca móvil para 2023:

Métrico	Valor
Descargas totales de aplicaciones móviles	87,500
Usuarios activos mensuales	62,300

Red de cajeros automáticos

FBMS mantiene una red de 142 cajeros automáticos en sus regiones operativas.

Tipo de cajero automático	Número
Cajeros automáticos	98
ATM de red de socios	44

Atención al cliente de teléfono y digital

Canales de atención al cliente Métricas de rendimiento:

• Horario del centro de llamadas: 8:00 a.m. a 6:00 p.m. CST
• Tiempo de respuesta promedio: 2.7 minutos
• Tasa de satisfacción del cliente: 94%

Canal de soporte	Volumen de contacto diario
Soporte telefónico	1.250 llamadas
Chat en línea	450 interacciones
Soporte por correo electrónico	320 correos electrónicos

The First Bancshares, Inc. (FBMS) - Modelo de negocio: segmentos de clientes

Empresas pequeñas a medianas

A partir del cuarto trimestre de 2023, el First Bancshares, Inc. atiende a aproximadamente 2.750 empresas pequeñas a medianas en Mississippi y Alabama.

Segmento de negocios	Total de clientes	Tamaño promedio del préstamo
Negocios minoristas	1,150	$475,000
Servicios profesionales	850	$325,000
Fabricación	750	$625,000

Clientes de banca minorista individual

Total de clientes de banca minorista: 87,500 al 31 de diciembre de 2023.

• Distribución de edad: 35-54 años (42%)
• Saldo promedio de depósito: $ 24,750
• Usuarios de banca digital: 65% de la base de clientes

Profesionales de la comunidad local

Base de clientes de 12.500 profesionales locales en atención médica, educación y sectores legales.

Sector profesional	Número de clientes
Cuidado de la salud	5,250
Educación	3,750
Profesionales legales	3,500

Dueños de negocios agrícolas y rurales

Segmento de clientes agrícolas: 3.200 clientes con cartera total de préstamos agrícolas de $ 185.6 millones en 2023.

• Tamaño de la granja: 250-1,500 acres
• Cultivos primarios: soja, algodón, madera
• Préstamo agrícola promedio: $ 58,000

Individuos de alto nivel de red

Segmento de clientes de alto nivel de red: 1.850 personas con activos totales bajo una administración de $ 425.3 millones.

Nivel de riqueza	Número de clientes	Valor de cartera promedio
$ 1M- $ 5M	1,350	$ 2.4 millones
$ 5M- $ 10M	350	$ 6.8 millones
$ 10M+	150	$ 15.2 millones

The First Bancshares, Inc. (FBMS) - Modelo de negocio: Estructura de costos

Operación de rama y gastos de mantenimiento

Para el año fiscal 2023, el primer Bancshares, Inc. reportó gastos de operación de sucursal total de $ 42.6 millones. El desglose de estos gastos incluye:

Categoría de gastos	Monto ($)
Mantenimiento de la instalación	12,800,000
Utilidades	5,600,000
Alquiler y arrendamiento	8,900,000
Seguridad de la rama	3,700,000

Investmentos en infraestructura tecnológica e plataforma digital

El banco invirtió $ 18.3 millones en infraestructura tecnológica para 2023, con asignaciones específicas:

• Sistemas bancarios centrales: $ 7.2 millones
• Mejoras de ciberseguridad: $ 4.5 millones
• Plataforma de banca digital: $ 3.9 millones
• Soporte y mantenimiento de TI: $ 2.7 millones

Salarios y beneficios de los empleados

La compensación total de los empleados para 2023 fue $ 89.4 millones, estructurado de la siguiente manera:

Componente de compensación	Monto ($)
Salarios base	62,500,000
Bonos de rendimiento	9,800,000
Seguro médico	7,600,000
Beneficios de jubilación	9,500,000

Costos de cumplimiento regulatorio

Los gastos relacionados con el cumplimiento para 2023 totalizaron $ 12.7 millones:

• Consultoría legal y regulatoria: $ 4.3 millones
• Software y herramientas de cumplimiento: $ 3.2 millones
• Capacitación y educación: $ 2.8 millones
• Auditoría e informes: $ 2.4 millones

Gastos de marketing y adquisición de clientes

El gasto de marketing para 2023 fue $ 6.5 millones, asignado a través de varios canales:

Canal de marketing	Monto ($)
Marketing digital	2,300,000
Publicidad tradicional	1,700,000
Patrocinios comunitarios	1,200,000
Programas de referencia de clientes	1,300,000

The First Bancshares, Inc. (FBMS) - Modelo de negocios: flujos de ingresos

Ingresos por intereses de préstamos y productos de crédito

Para el año fiscal 2023, el primer Bancshares, Inc. informó ingresos por intereses netos de $ 248.9 millones. El desglose de la cartera de préstamos incluye:

Categoría de préstamo	Cantidad total
Préstamos comerciales	$ 1.2 mil millones
Préstamos inmobiliarios residenciales	$ 987 millones
Préstamos al consumo	$ 456 millones

Tarifas de servicio bancario

Los cargos y tarifas de servicio generaron $ 42.3 millones en ingresos para 2023, con el siguiente desglose:

• Tarifas de mantenimiento de la cuenta: $ 15.6 millones
• Tarifas de sobregiro: $ 12.7 millones
• Tarifas de transacción de cajeros automáticos: $ 8.2 millones
• Otras tarifas de servicio bancario: $ 5.8 millones

Comisiones de inversión y gestión de patrimonio

La división de gestión de patrimonio generada $ 37.5 millones en comisiones para 2023, con fuentes clave de ingresos que incluyen:

Fuente de ingresos	Monto de la comisión
Tarifas de gestión de activos	$ 22.1 millones
Servicios de asesoramiento financiero	$ 9.4 millones
Comisiones de corretaje	$ 6.0 millones

Tarifas de transacción bancaria digital

Transacciones bancarias digitales generadas $ 14.6 millones en ingresos para 2023, con la siguiente distribución:

• Tarifas de pago de facturas en línea: $ 5.2 millones
• Tarifas de depósito móvil: $ 3.8 millones
• Tasas de transferencia electrónica: $ 3.1 millones
• Otras tarifas de transacción digital: $ 2.5 millones

Ingresos de préstamos hipotecarios e inmobiliarios

Actividades de préstamos hipotecarios e inmobiliarios producidos $ 65.4 millones En ingresos totales para 2023:

Categoría de préstamo	Monto de ingresos
Tarifas de origen de la hipoteca	$ 38.7 millones
Ingresos de servicios hipotecarios	$ 18.9 millones
Tarifas de préstamos inmobiliarios	$ 7.8 millones

The First Bancshares, Inc. (FBMS) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose The First Bancshares, Inc. (FBMS), especially now that it's part of a much larger organization following the April 1, 2025 merger with Renasant Corporation. The value proposition centers on blending scale with local service.

Full-service financial products with a community bank's personal touch.

The First Bancshares, Inc. offers a full range of financial services, which includes consumer and commercial loans, various deposit accounts like checking, NOW accounts, and savings, plus specialized offerings such as individual retirement and health savings accounts. This breadth of product is delivered with the close customer relationships you expect from a community-focused institution. They serve small to medium-sized businesses, individuals, professional concerns, governmental authorities, and nonprofit organizations.

Tailored commercial lending for small to medium-sized businesses.

For businesses, the value is in the tailored approach to credit. They provide commercial loans that cover working capital needs, business expansion, and the purchase of essential equipment and machinery. This focus on the small to medium-sized business segment is key to their regional strategy.

Comprehensive mortgage banking and wealth management services.

The offering extends beyond standard banking. You get comprehensive mortgage banking services, covering the origination of loans for purchasing existing residential homes, new construction, and refinancing. Furthermore, The First Bancshares, Inc. provides dedicated financial and wealth management services, which is a critical component of their full-service model, operating through a distinct Mortgage Banking Division.

Regional expertise in Mississippi, Louisiana, Alabama, Florida, and Georgia.

The deep-rooted knowledge across the Gulf Coast and Southeast is a major draw. The First Bancshares, Inc. has cemented its presence across five states. This multi-state footprint, which includes over 116 locations as of late 2025, allows them to understand and serve the specific economic nuances of each community they operate in.

Stability as part of a larger, post-merger $26 billion asset institution.

The merger fundamentally changed the scale of the institution. While The First Bancshares, Inc. reported total assets of $8.0 billion USD as of December 31, 2024, the combined entity post-merger targets a much larger scale, creating a six-state franchise. Analysts were forecasting the combined entity to have approximately $25 billion in total assets based on June 30, 2024, figures, which supports the value proposition of enhanced stability and reduced concentration risk. This scale is what helps them compete effectively.

Here's a quick look at the scale shift that underpins this value proposition:

Metric	The First Bancshares, Inc. (Pre-Merger, Dec 31, 2024)	Projected Combined Entity (Based on Jun 30, 2024 Data)
Total Assets	$8.0 billion	Approximately $25 billion
Total Loans	$5.3 billion (As of Jun 30, 2024)	Approximately $18 billion
Total Deposits	$6.605 billion (As of Dec 31, 2024)	Approximately $21 billion
Geographic Footprint	5 States (MS, LA, AL, FL, GA)	6 States (Implied expansion/combined footprint)
2024 Net Income (FBMS Standalone)	$77.19 million	N/A (Combined entity figures not directly available for 2024)

The operational segments that deliver these value propositions include the Commercial/Retail Bank, the Mortgage Banking Division, and the Holding Company structure itself. You can see the commitment to community focus in their operational structure.

• Full range of deposit services offered.
• Commercial loans for working capital and expansion.
• Consumer loans for automobiles and home improvements.
• Online internet banking and mobile deposits available.
• Cash management services for commercial clients.

The expectation for the former FBMS shares was an accretion leading to a forecasted full-year 2025 Earnings Per Share (EPS) of approximately $2.82, showing the market's view on the value generated by this new structure.

The First Bancshares, Inc. (FBMS) - Canvas Business Model: Customer Relationships

The customer relationship strategy for The First Bancshares, Inc. franchise, as it integrated into the larger entity following the April 2025 merger, remains rooted in its community banking model, which emphasizes close, personal connections with local customers.

High-touch, personalized service is delivered through a physical footprint that, as of the end of 2023, comprised 70 banking locations across Mississippi and Alabama. This network supported a business model characterized by personalized service and local decision-making, targeting small to medium-sized businesses, professional concerns, and individuals.

• High-touch service is the core differentiator against larger national banks.
• Local decision-making empowers branch staff for quicker client responses.
• The bank offers a full range of financial services to individuals and businesses.

For commercial clients, the relationship focus translates into dedicated attention, a key component in securing and growing the loan portfolio. The bank's offerings include commercial lending, retail banking, and wealth management services, all designed to meet the diverse needs of its consumer and business clientele.

Digital self-service complements the in-person experience. The First Bank, the subsidiary, has supported its relationship model with digital tools, including on-line internet banking services, automated teller machines, and mobile deposit capabilities. This blend allows clients to handle routine transactions digitally while reserving branch time for complex needs.

Community engagement and local decision-making are strategic imperatives, as the core philosophy centers on growing the communities served. The franchise historically maintained a strong regional presence, concentrating its operations within the banking markets of Mississippi and Alabama.

The emphasis on long-term, trust-based relationships is the key driver for customer acquisition and retention, which underpins the revenue generation through net interest income. The transition in 2025 marked a significant shift in scale, moving from the established regional footprint to a much larger platform. The quality of these relationships was a recognized asset in the transaction.

Here's the quick math on the scale shift impacting the client base:

Metric	FBMS (Pre-Merger, Late 2024/Early 2025 Context)	Combined Entity (Post-Merger, Late 2025 Context)
Total Assets	Approximately $8.005 billion (End of 2024)	Approximately $26.0 billion
Geographic Footprint	Operations in Mississippi, Louisiana, Alabama, Georgia, and Florida (as of 2020)	Significantly expanded beyond original FBMS footprint
Total Banking Locations	70 locations (As of Q4 2023)	Combined total (Not specified, but substantially larger)

What this estimate hides is the integration challenge; maintaining the high-touch feel across a much larger asset base of $26.0 billion, up from the former $8.005 billion, requires careful management of the relationship infrastructure.

Finance: draft 13-week cash view by Friday.

The First Bancshares, Inc. (FBMS) - Canvas Business Model: Channels

You're looking at how The First Bancshares, Inc. (FBMS) gets its value proposition to the customer base across the Gulf Coast and Southeast. It's a mix of traditional brick-and-mortar presence and modern digital tools. The scale of their physical footprint is a key differentiator in their regional markets.

Physical branch network of over 116 locations.

The First Bancshares, Inc. maintains a significant physical presence, operating a network of over 116 locations as of late 2025 context, which includes both branches and loan offices. These physical touchpoints are strategically located across five states: Mississippi, Louisiana, Alabama, Florida, and Georgia. This scale helps support their total asset base, which stood at approximately $8.005 billion at the end of 2024. For context on the human element supporting these channels, the company reported 1,051 employees in a recent filing.

Online and mobile banking platforms for retail and business.

The digital channel is crucial, even for a regional player. While specific user adoption rates for The First Bancshares, Inc. aren't public, the market context shows the importance of this channel. In the U.S. alone, digital banking users are projected to reach nearly 216.8 million by 2025. Furthermore, a significant majority of consumers, around 77 percent, prefer to manage their bank accounts through a mobile app or a computer. The First Bancshares, Inc. offers internet banking services, mobile deposit, and automatic drafts to serve both retail and business clients within this environment.

Loan production offices for specialized lending.

The network of over 116 locations includes dedicated Loan Production Offices (LPOs). These LPOs are staffed facilities, separate from full-service branches, focused on providing lending-related services, such as loan information and applications for commercial and real estate lending. The First Bancshares, Inc. operates these offices alongside its full-service banking and financial service offices, and motor bank facilities, to drive loan originations across its footprint.

Automated Teller Machines (ATMs) for cash access.

Cash access remains a necessary function, supported by the ATM network. The overall U.S. ATM market size was estimated to grow to $38.88 billion in 2025. The First Bancshares, Inc. provides access through its own network of Automated Teller Machines (ATMs) to ensure customers can handle basic transactions conveniently, complementing the digital offerings.

Direct sales force for commercial and wealth management.

For higher-value services, the bank relies on its direct sales capabilities. This component includes specialized personnel focused on originating commercial loans-secured and unsecured loans for working capital and equipment-and providing financial and wealth management services. This high-touch approach is necessary for securing the commercial/retail bank and wealth management revenue streams that support the bank's financial performance.

Here is a snapshot of the scale metrics related to The First Bancshares, Inc. channels and operational size as of the latest available data:

Channel Component	Metric/Detail	Latest Available Figure
Physical Footprint (Branches & LPOs)	Total Locations Across States	Over 116
Geographic Reach	States of Operation	MS, LA, AL, FL, GA
Scale Proxy	Total Employees	1,051
Digital Channel Context	Projected US Digital Users (2025)	216.8 million
Asset Base Context	Total Assets (End of 2024)	$8.005 billion

The digital preference in the market is clear, with 96 percent of consumers rating their online and mobile banking experience as good or better. Still, the physical network of over 116 locations is what anchors The First Bancshares, Inc. in its specific regional markets.

You should review the Q3 2025 earnings release for any specific updates on branch consolidation or LPO expansion following the expected merger close in the first half of 2025. Finance: draft 13-week cash view by Friday.

The First Bancshares, Inc. (FBMS) - Canvas Business Model: Customer Segments

You're looking at the customer base for The First Bancshares, Inc. (FBMS) following the April 1, 2025, merger with Renasant Corporation. This combination significantly expanded the reach and scale of the customer service model across the Gulf Coast and Southeast.

The core customer segments The First Bancshares, Inc. serves are clearly defined by their financial needs and organizational structure. These groups are the recipients of the general commercial and retail banking services offered by The First Bank, the banking subsidiary.

The geographic concentration of these customers is a key feature of The First Bancshares, Inc. model, focusing on a specific regional cluster.

• Customers across five Southeastern US states: Mississippi, Louisiana, Alabama, Georgia, and Florida.
• The operational network includes over 116 locations, comprising branches and loan offices across this footprint.

The customer segments are served with a range of products, from basic deposit accounts to specialized lending.

• Individuals seeking retail banking, mortgages, and consumer loans.
• Small to medium-sized businesses (SMBs) needing commercial loans for working capital and expansion.
• Professional concerns and high-net-worth individuals, supported by private banking and wealth management services.
• Municipal entities and non-profit organizations, which require specialized deposit and treasury services.

To give you a sense of the scale and the credit quality environment these segments operated in as of the end of 2024, which sets the baseline for 2025 performance, here are some relevant financial metrics. Remember, the full-year 2025 figures reflect the merged entity post-April 1, 2025, with analysts forecasting an EPS of approximately $2.82 for the former FBMS shares.

Metric	Value as of December 31, 2024	Context
Total Locations	Over 116	Branches and loan offices across the five-state footprint.
Past Due Loans to Total Loans Ratio	0.40%	Total past due loans were $21.8 million for the quarter ending December 31, 2024.
Allowance for Credit Losses (ACL) to Total Loans	1.04%	Indicates the coverage set aside for potential credit losses as of December 31, 2024.
Nonperforming Assets to Total Assets Ratio	0.37%	Nonperforming assets totaled $29.9 million for the quarter ended December 31, 2024.

The First Bancshares, Inc. provides commercial loans covering working capital, business expansion, and equipment purchase. For individuals, the offerings include consumer loans for automobiles, home improvements, and education, alongside originating loans for residential home purchase, construction, and refinancing.

The company explicitly serves these groups across its operational footprint:

• Mississippi
• Louisiana
• Alabama
• Georgia
• Florida

The focus remains on delivering the product breadth of larger regional banks with the personalized service of a community-focused institution, which is how they aim to retain and grow these customer segments.

Finance: draft 13-week cash view by Friday.

The First Bancshares, Inc. (FBMS) - Canvas Business Model: Cost Structure

The Cost Structure for The First Bancshares, Inc. (FBMS) is heavily influenced by funding costs and personnel, reflecting its core banking operations as of the end of 2024 data.

Significant interest expense on deposits remains a major cost driver, especially as the rate environment shifted throughout 2024.

Personnel costs are substantial, supporting the operational scale of The First Bancshares, Inc. (FBMS).

The overall operational overhead is captured within the total non-interest expense figure for the year.

The maintenance of the physical footprint and associated overhead contributes to operating costs.

Technology infrastructure and meeting stringent regulatory requirements are non-negotiable expenses for The First Bancshares, Inc. (FBMS).

Here's a quick look at some of the key cost metrics:

Cost Component Category	Financial Metric/Period	Amount/Rate
Interest Expense on Deposits	Cost of All Deposits Average (Q4 2024)	178 basis points
Total Non-Interest Expense	Full Year Ended December 31, 2024	$182.3 million
Personnel Costs (Salaries/Benefits)	Year-over-Year Increase (2024 vs 2023)	$8.7 million increase
Personnel Costs (Salaries/Benefits)	Sequential Quarter Increase (Q4 2024 vs Q3 2024)	$3.8 million increase
Personnel Headcount	Employees as of December 31, 2024	1,051 employees

The cost structure includes several key categories that you need to monitor:

• Significant interest expense on deposits, averaging 178 basis points (Q4 2024).
• High personnel costs for over 1,000 employees.
• Non-interest expense of $182.3 million (2024) for operations.
• Branch network maintenance and occupancy costs.
• Technology and regulatory compliance expenses.

To be fair, the increase in salary expense for the year ended December 31, 2024, was partially offset by a decrease in acquisition and other expenses of $12.2 million.

The First Bancshares, Inc. (FBMS) - Canvas Business Model: Revenue Streams

You're looking at the core ways The First Bancshares, Inc. (FBMS) makes money, which, as a community bank, is heavily weighted toward traditional lending and investing activities. The primary driver is the spread between what they earn on assets and what they pay out on liabilities, known as Net Interest Income (NII).

For the fiscal year ending December 31, 2024, the Total Interest Income reached $\mathbf{\$369.84}$ million. This income is generated from their primary earning assets, which are their loan and investment portfolios. Specifically, Interest Income on Loans was $\mathbf{\$321.67}$ million, while Interest Income on Investments contributed $\mathbf{\$48.17}$ million for the same period. This is the engine of the revenue model.

The resulting Net Interest Income (NII) for FY 2024 was $\mathbf{\$234.27}$ million. This figure reflects the interest earned after subtracting the Total Interest Expense, which stood at $\mathbf{\$135.57}$ million in 2024. To give you a sense of the recent trend, the Q4 2024 NII was $\mathbf{\$60.1}$ million, showing sequential growth of $\mathbf{\$1.1}$ million from Q3 2024, largely due to a decrease in interest expense.

Beyond the balance sheet spread, The First Bancshares, Inc. (FBMS) generates revenue from various fee-based services, categorized as Total Non-Interest Income. For the full year 2024, this total was $\mathbf{\$49.16}$ million. It's important to note that this figure experienced some pressure, with one report mentioning a decline in Q4 2024 due to lower service charges/fees.

We can detail some of the components contributing to that non-interest income:

• Interest Income from Deposits and Money Market Investments was $\mathbf{\$3.44}$ million in FY 2024.
• Mortgage Banking Activities contributed $\mathbf{\$3.35}$ million in FY 2024.
• The company recorded a net loss on the sale of assets and investments in 2024, with Gain (Loss) on Sale of Assets at $-\mathbf{\$0.18}$ million and Gain (Loss) on Sale of Investments at $-\mathbf{\$0.11}$ million.
• The remaining revenue, categorized as Other Non-Interest Income, was $\mathbf{\$32.28}$ million for the year.

While the specific line items for wealth management and treasury management service fees aren't explicitly isolated from the $\mathbf{\$32.28}$ million 'Other Non-Interest Income' or the general 'service charges and deposit fees' mentioned in the Q4 commentary, these activities are definitely embedded within the non-interest income structure, supporting the overall fee-based revenue stream.

Here's a quick look at the key annual revenue components for FY 2024 in millions of USD:

Revenue Component	FY 2024 Amount (Millions USD)
Total Interest Income	369.84
Net Interest Income	234.27
Total Non-Interest Income	49.16
Mortgage Banking Activities	3.35
Other Non-Interest Income	32.28

The total reported Revenue for The First Bancshares, Inc. in 2024 was $\mathbf{\$279.64}$ million, which is the sum of Net Interest Income and Total Non-Interest Income, minus certain adjustments or provisions depending on the exact definition used, but using the primary components, it's clear NII is the dominant factor. Finance: draft the Q1 2025 revenue projection based on Q4 2024 trends by Monday.