The First Bancshares, Inc. (FBMS): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le plan stratégique du premier Bancshares, Inc. (FBMS), une puissance bancaire régionale dynamique qui transforme les services financiers traditionnels à travers des approches innovantes. En mélangeant magistralement les services bancaires communautaires personnalisés avec des solutions numériques de pointe, FBMS a conçu un modèle commercial qui va au-delà de simples interactions transactionnelles, créant des partenariats financiers profondément enracinés dans le paysage économique diversifié du Mississippi. Leur toile unique révèle une stratégie sophistiquée qui tire parti des relations locales, des prouesses technologiques et une expertise financière complète pour offrir des expériences bancaires inégalées pour les entreprises et les individus.

The First Bancshares, Inc. (FBMS) - Modèle d'entreprise: partenariats clés

Institutions financières locales et régionales pour les services collaboratifs

Depuis 2024, le premier Bancshares, Inc. maintient des partenariats stratégiques avec:

Type de partenaire	Nombre de partenariats	Couverture géographique
Banques communautaires	12	Mississippi, Alabama, Louisiane
Coopératives de crédit	8	Sud-est des États-Unis

Vendeurs technologiques fournissant des solutions bancaires numériques

Les partenariats technologiques clés comprennent:

• Jack Henry & Associés pour la plate-forme bancaire de base
• Fiserv pour l'infrastructure bancaire numérique
• ACI dans le monde entier pour les systèmes de traitement des paiements

Sociétés d'assurance et d'investissement pour des produits financiers complémentaires

Entreprise partenaire	Collaboration des produits	Part des revenus annuels
Assurance Trustmark	Services de gestion de la patrimoine	1,2 million de dollars
Morgan Stanley	Avis d'investissement	$850,000

Réseaux de petites entreprises et chambres de commerce

Détails du partenariat:

• Conseil économique du Mississippi: membre actif
• Gulf Coast Business Council: partenaire stratégique
• Chambres de commerce locales dans 3 États

Consultants réglementaires de la conformité et de la gestion des risques

Cabinet de conseil	Service fourni	Valeur du contrat annuel
Deloitte	Conformité réglementaire	$475,000
Pwc	Avis de gestion des risques	$385,000

The First Bancshares, Inc. (FBMS) - Modèle d'entreprise: Activités clés

Services bancaires commerciaux et de détail

Au quatrième trimestre 2023, le premier Bancshares, Inc. a déclaré un actif total de 7,8 milliards de dollars et un dépôt total de 6,5 milliards de dollars. La banque exploite 90 succursales à service complet à travers le Mississippi et l'Alabama.

Catégorie de service bancaire	Revenus annuels (2023)	Segment de clientèle
Prêts commerciaux	156,4 millions de dollars	Petites et moyennes entreprises
Banque de détail	87,2 millions de dollars	Consommateurs individuels

Développement et maintenance de la plate-forme bancaire numérique

FBMS a investi 4,3 millions de dollars dans les infrastructures numériques en 2023, soutenant:

• Application bancaire mobile
• Plateformes de transaction en ligne
• Améliorations de la cybersécurité

Origination du prêt et gestion du portefeuille

Catégorie de prêt	Valeur totale du portefeuille	Marge d'intérêt net
Prêts commerciaux	3,2 milliards de dollars	4.75%
Hypothèques résidentielles	1,9 milliard de dollars	3.62%

Conseil financier et gestion de la patrimoine

Le segment de gestion de patrimoine a généré 22,6 millions de dollars de revenus pour 2023, avec 542 millions de dollars d'actifs sous gestion.

Évaluation des risques et évaluation du crédit

• Équipe de gestion des risques de crédit de 42 professionnels
• Ratio de prêt non performant: 0,89%
• Budget annuel de la conformité et de l'évaluation des risques: 3,1 millions de dollars

The First Bancshares, Inc. (FBMS) - Modèle d'entreprise: Ressources clés

Réseau bancaire régional solide

Au quatrième trimestre 2023, le premier Bancshares, Inc. exploite 82 sites bancaires à travers le Mississippi. Le total des actifs déclarés à 4,84 milliards de dollars.

Métriques de réseau	Quantité
Emplacements bancaires totaux	82
Actif total	4,84 milliards de dollars
Dépôts totaux	4,24 milliards de dollars

Infrastructure bancaire numérique

Investissement technologique dans les plateformes numériques et les infrastructures de cybersécurité.

• Plateforme bancaire en ligne
• Application bancaire mobile
• Systèmes de cybersécurité avancés

Ressources de capital humain

Total des employés: 834 au 31 décembre 2023.

Catégorie des employés	Nombre
Total des employés	834
Direction	12

Ressources de capital financier

Mesures financières auprès du quatrième trimestre 2023:

• Ratio de capital de niveau 1: 13,42%
• Ratio de capital total: 14,67%
• Présentation des actionnaires: 528 millions de dollars

Gestion des données clients

Système de gestion de la relation client propriétaire qui suivit plus de 150 000 comptes clients.

The First Bancshares, Inc. (FBMS) - Modèle d'entreprise: propositions de valeur

Solutions bancaires personnalisées pour les communautés locales

Depuis le quatrième trimestre 2023, le premier Bancshares, Inc. dessert 39 sites bancaires à travers le Mississippi et l'Alabama. Le total des actifs déclarés à 5,64 milliards de dollars en mettant l'accent sur les services bancaires axés sur la communauté.

Segment de marché	Couverture géographique	Clientèle
Banque communautaire locale	39 lieux bancaires	Plus de 185 000 comptes clients

Taux d'intérêt concurrentiels et produits financiers

Taux d'intérêt pour les principaux produits bancaires en janvier 2024:

• Comptes d'épargne personnels: 0,75% - 1,25% APY
• Certificats de dépôt: 3,50% - 4,75% APY
• Comptes de chèque d'entreprise: tarifs compétitifs sans frais de maintenance mensuels

Expériences de banque numérique et mobile pratique

Métriques de plate-forme numérique	2023 statistiques
Utilisateurs de la banque mobile	87 500 utilisateurs actifs
Volume de transaction en ligne	2,3 millions de transactions mensuelles

Service client basé sur les relations

Taux de rétention de la clientèle en 2023: 92,4%, avec une durée moyenne de la relation client de 7,6 ans.

Services complets de planification financière et de conseil

• Actifs de gestion de patrimoine: 742 millions de dollars
• Clients consultatifs en investissement: 4 300
• Services de planification financière: consultations complémentaires pour les clients existants

Répartition du service consultatif	Performance de 2023
Planification de la retraite	1 850 consultations clients
Gestion du portefeuille d'investissement	328 millions de dollars sous gestion active

The First Bancshares, Inc. (FBMS) - Modèle d'entreprise: relations avec les clients

Gestionnaires de relations bancaires personnelles

Depuis 2024, le premier Bancshares, Inc. emploie 87 gestionnaires de relations dédiés dans ses succursales du Mississippi et de l'Alabama. Ces gestionnaires gèrent un portefeuille client moyen de 128 clients de bancs bancaires à haute teneur et commerciale.

Région	Nombre de gestionnaires de relations	Taille moyenne du portefeuille client
Mississippi	52	124 clients
Alabama	35	132 clients

Engagement client axé sur la communauté

La banque maintient 42 événements d'engagement communautaire chaque année, ciblant les réseaux commerciaux locaux et les organisations communautaires.

• Participation totale des événements communautaires: 3 245 personnes en 2024
• Événements de réseautage commercial local: 18 événements
• Sessions de littératie financière communautaire: 24 événements

Plateformes en libre-service en ligne et mobile

Les plates-formes bancaires numériques desservent 76 542 utilisateurs actifs en 2024, ce qui représente 68% de la clientèle totale de la banque.

Plate-forme numérique	Utilisateurs actifs	Transactions mensuelles
Application bancaire mobile	62,345	1,247,890
Site Web de banque en ligne	14,197	423,567

Ateliers d'éducation financière réguliers

La banque mène 36 ateliers d'éducation financière chaque année, atteignant 1 872 participants dans ses régions de service.

• Ateliers de finance personnelle: 18 séances
• Planification financière des petites entreprises: 12 séances
• Séminaires de planification de la retraite: 6 séances

Canaux de support client réactifs

L'infrastructure de support client gère 97,3% des demandes des clients dans les 24 heures.

Canal de support	Temps de réponse moyen	Taux de satisfaction client
Support téléphonique	12 minutes	94.5%
Assistance par e-mail	4 heures	92.7%
Chat en direct	3 minutes	96.2%

The First Bancshares, Inc. (FBMS) - Modèle d'entreprise: canaux

Réseau de succursale bancaire physique

En 2023, la première Bancshares, Inc. exploite 98 succursales bancaires à service complet à travers le Mississippi et l'Alabama.

État	Nombre de branches
Mississippi	76
Alabama	22

Site Web de banque en ligne

La banque fournit une plate-forme bancaire en ligne complète avec les fonctionnalités suivantes:

• Suivi du solde du compte
• Transferts de fonds
• Services de paiement de factures
• Dispositions électroniques

Application bancaire mobile

Statistiques des applications bancaires mobiles pour 2023:

Métrique	Valeur
Téléchargements totaux d'applications mobiles	87,500
Utilisateurs actifs mensuels	62,300

Réseau ATM

FBMS maintient un réseau de 142 distributeurs automatiques de billets dans ses régions opérationnelles.

Type de guichet automatique	Nombre
ATM appartenant à des banques	98
ATM du réseau partenaire	44

Téléphone et support client numérique

Customer Support Canals Performance Metrics:

• HEURES DE CENTRE: 8 h 00 - 18 h 00 CST
• Temps de réponse moyen: 2,7 minutes
• Taux de satisfaction client: 94%

Canal de support	Volume de contact quotidien
Support téléphonique	1 250 appels
Chat en ligne	450 interactions
Assistance par e-mail	320 e-mails

The First Bancshares, Inc. (FBMS) - Modèle d'entreprise: segments de clientèle

Petites et moyennes entreprises

Depuis le quatrième trimestre 2023, le premier Bancshares, Inc. dessert environ 2 750 petites et moyennes entreprises à travers le Mississippi et l'Alabama.

Segment d'entreprise	Total des clients	Taille moyenne du prêt
Commerces de détail	1,150	$475,000
Services professionnels	850	$325,000
Fabrication	750	$625,000

Clients bancaires de détail individuels

Total des clients bancaires au détail: 87 500 au 31 décembre 2023.

• Distribution de l'âge: 35 à 54 ans (42%)
• Solde de dépôt moyen: 24 750 $
• Utilisateurs de la banque numérique: 65% de la clientèle

Professionnels de la communauté locale

Base de clients de 12 500 professionnels locaux dans les secteurs de la santé, de l'éducation et des secteurs juridiques.

Secteur professionnel	Nombre de clients
Soins de santé	5,250
Éducation	3,750
Professionnels du droit	3,500

Propriétaires d'entreprises agricoles et rurales

Segment de clientèle agricole: 3 200 clients avec un portefeuille total de prêts agricoles de 185,6 millions de dollars en 2023.

• Taille de la ferme: 250-1,500 acres
• Cultures primaires: soja, coton, bois
• Prêt agricole moyen: 58 000 $

Individus à haute nette

Segment de clientèle à forte valeur élevée: 1 850 personnes avec un actif total sous gestion de 425,3 millions de dollars.

Niveau de richesse	Nombre de clients	Valeur de portefeuille moyenne
1 M $ - 5 M $	1,350	2,4 millions de dollars
5 millions de dollars à 10 millions de dollars	350	6,8 millions de dollars
10 M $ +	150	15,2 millions de dollars

The First Bancshares, Inc. (FBMS) - Modèle d'entreprise: Structure des coûts

Frais de fonctionnement et de maintenance de la succursale

Pour l'exercice 2023, le premier Bancshares, Inc. a déclaré des frais d'exploitation totale de 42,6 millions de dollars. La répartition de ces dépenses comprend:

Catégorie de dépenses	Montant ($)
Entretien d'installation	12,800,000
Services publics	5,600,000
Loyer et location	8,900,000
Sécurité des succursales	3,700,000

Infrastructure technologique et investissements de plate-forme numérique

La banque a investi 18,3 millions de dollars dans l'infrastructure technologique pour 2023, avec des allocations spécifiques:

• Systèmes bancaires de base: 7,2 millions de dollars
• Améliorations de la cybersécurité: 4,5 millions de dollars
• Plateforme bancaire numérique: 3,9 millions de dollars
• Support et maintenance informatique: 2,7 millions de dollars

Salaires et avantages sociaux des employés

La rémunération totale des employés pour 2023 était 89,4 millions de dollars, structuré comme suit:

Composant de compensation	Montant ($)
Salaires de base	62,500,000
Bonus de performance	9,800,000
Assurance maladie	7,600,000
Prestations de retraite	9,500,000

Coûts de conformité réglementaire

Les dépenses liées à la conformité pour 2023 ont totalisé 12,7 millions de dollars:

• Conseil juridique et réglementaire: 4,3 millions de dollars
• Logiciel et outils de conformité: 3,2 millions de dollars
• Formation et éducation: 2,8 millions de dollars
• Audit et rapport: 2,4 millions de dollars

Frais de marketing et d'acquisition des clients

Les dépenses de marketing pour 2023 étaient 6,5 millions de dollars, alloué sur divers canaux:

Canal de marketing	Montant ($)
Marketing numérique	2,300,000
Publicité traditionnelle	1,700,000
Parrainages communautaires	1,200,000
Programmes de référence client	1,300,000

The First Bancshares, Inc. (FBMS) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts des prêts et des produits de crédit

Pour l'exercice 2023, le premier Bancshares, Inc. a déclaré un revenu net d'intérêts de 248,9 millions de dollars. La répartition du portefeuille de prêts comprend:

Catégorie de prêt	Montant total
Prêts commerciaux	1,2 milliard de dollars
Prêts immobiliers résidentiels	987 millions de dollars
Prêts à la consommation	456 millions de dollars

Frais de service bancaire

Les frais de service et les frais ont généré 42,3 millions de dollars de revenus pour 2023, avec la ventilation suivante:

• Frais de maintenance du compte: 15,6 millions de dollars
• Frais de découvert: 12,7 millions de dollars
• Frais de transaction ATM: 8,2 millions de dollars
• Autres frais de service bancaire: 5,8 millions de dollars

Commissions d'investissement et de gestion de la patrimoine

La division de gestion de patrimoine générée 37,5 millions de dollars dans les commissions de 2023, avec des sources de revenus clés, notamment:

Source de revenus	Montant de la commission
Frais de gestion des actifs	22,1 millions de dollars
Services de conseil financier	9,4 millions de dollars
Commissions de courtage	6,0 millions de dollars

Frais de transaction bancaire numérique

Transactions bancaires numériques générées 14,6 millions de dollars en revenus pour 2023, avec la distribution suivante:

• Frais de paiement des factures en ligne: 5,2 millions de dollars
• Frais de dépôt mobile: 3,8 millions de dollars
• Frais de transfert électronique: 3,1 millions de dollars
• Autres frais de transaction numérique: 2,5 millions de dollars

Revenus de prêts hypothécaires et immobiliers

Activités de prêt hypothécaire et immobilier produite 65,4 millions de dollars dans les revenus totaux pour 2023:

Catégorie de prêt	Montant des revenus
Frais d'origine hypothécaire	38,7 millions de dollars
Revenus de service hypothécaire	18,9 millions de dollars
Frais de prêt immobilier	7,8 millions de dollars

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.