The First Bancshares, Inc. (FBMS): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no plano estratégico da First Bancshares, Inc. (FBMS), uma potência bancária regional dinâmica que transforma os serviços financeiros tradicionais por meio de abordagens inovadoras. Ao misturar magistralmente bancos comunitários personalizados com soluções digitais de ponta, o FBMS criou um modelo de negócios que vai além de meras interações transacionais, criando parcerias financeiras profundas no cenário econômico do Mississippi. Sua tela exclusiva revela uma estratégia sofisticada que aproveita as relações locais, a capacidade tecnológica e a experiência financeira abrangente para oferecer experiências bancárias incomparáveis ​​para empresas e indivíduos.

The First Bancshares, Inc. (FBMS) - Modelo de negócios: Parcerias -chave

Instituições financeiras locais e regionais para serviços colaborativos

A partir de 2024, The First Bancshares, Inc. mantém parcerias estratégicas com:

Tipo de parceiro	Número de parcerias	Cobertura geográfica
Bancos comunitários	12	Mississippi, Alabama, Louisiana
Cooperativas de crédito	8	Sudeste dos Estados Unidos

Fornecedores de tecnologia que fornecem soluções bancárias digitais

As principais parcerias tecnológicas incluem:

• Jack Henry & Associados para a plataforma bancária principal
• Fiserv para infraestrutura bancária digital
• ACI em todo o mundo para sistemas de processamento de pagamento

Empresas de seguros e investimentos para produtos financeiros complementares

Empresa parceira	Colaboração de produtos	Participação anual da receita
Seguro de trustmark	Serviços de gerenciamento de patrimônio	US $ 1,2 milhão
Morgan Stanley	Aviso de investimento	$850,000

Redes de pequenas empresas e câmaras de comércio

Detalhes da parceria:

• Conselho Econômico do Mississippi: Membro Ativo
• Conselho Empresarial da Costa do Golfo: Parceiro Estratégico
• Câmaras de comércio locais em 3 estados

Consultores de conformidade regulatória e gerenciamento de riscos

Empresa de consultoria	Serviço prestado	Valor anual do contrato
Deloitte	Conformidade regulatória	$475,000
Pwc	Advogado de gerenciamento de riscos	$385,000

The First Bancshares, Inc. (FBMS) - Modelo de negócios: Atividades -chave

Serviços bancários comerciais e de varejo

A partir do quarto trimestre de 2023, a First Bancshares, Inc. registrou ativos totais de US $ 7,8 bilhões e depósitos totais de US $ 6,5 bilhões. O banco opera 90 agências de serviço completo no Mississippi e no Alabama.

Categoria de serviço bancário	Receita anual (2023)	Segmento de clientes
Empréstimos comerciais	US $ 156,4 milhões	Pequenas a médias empresas
Banco de varejo	US $ 87,2 milhões	Consumidores individuais

Desenvolvimento e manutenção da plataforma bancária digital

A FBMS investiu US $ 4,3 milhões em infraestrutura digital em 2023, apoiando:

• Aplicativo bancário móvel
• Plataformas de transações online
• Aprimoramentos de segurança cibernética

Origem de empréstimos e gerenciamento de portfólio

Categoria de empréstimo	Valor total do portfólio	Margem de juros líquidos
Empréstimos comerciais	US $ 3,2 bilhões	4.75%
Hipotecas residenciais	US $ 1,9 bilhão	3.62%

Conselho financeiro e gestão de patrimônio

O segmento de gerenciamento de patrimônio gerou US $ 22,6 milhões em receita para 2023, com US $ 542 milhões em ativos sob administração.

Avaliação de risco e avaliação de crédito

• Equipe de gerenciamento de riscos de crédito de 42 profissionais
• Taxa de empréstimo sem desempenho: 0,89%
• Orçamento anual de conformidade e avaliação de risco: US $ 3,1 milhões

The First Bancshares, Inc. (FBMS) - Modelo de negócios: Recursos -chave

Forte Rede Bancária Regional

A partir do quarto trimestre de 2023, o First Bancshares, Inc. opera 82 locais bancários no Mississippi. Total de ativos relatados em US $ 4,84 bilhões.

Métricas de rede	Quantidade
Total de locais bancários	82
Total de ativos	US $ 4,84 bilhões
Total de depósitos	US $ 4,24 bilhões

Infraestrutura bancária digital

Investimento em tecnologia em plataformas digitais e infraestrutura de segurança cibernética.

• Plataforma bancária online
• Aplicativo bancário móvel
• Sistemas avançados de segurança cibernética

Recursos de capital humano

Total de funcionários: 834 em 31 de dezembro de 2023.

Categoria de funcionários	Número
Total de funcionários	834
Gestão executiva	12

Recursos de capital financeiro

Métricas financeiras a partir do quarto trimestre 2023:

• Tier 1 Capital Ratio: 13,42%
• Razão de capital total: 14,67%
• Equidade dos acionistas: US $ 528 milhões

Gerenciamento de dados do cliente

Sistema proprietário de gerenciamento de relacionamento com o cliente, rastreando mais de 150.000 contas de clientes.

The First Bancshares, Inc. (FBMS) - Modelo de negócios: proposições de valor

Soluções bancárias personalizadas para comunidades locais

A partir do quarto trimestre de 2023, o First Bancshares, Inc. atende a 39 locais bancários no Mississippi e no Alabama. Total de ativos relatados em US $ 5,64 bilhões, com foco nos serviços bancários centrados na comunidade.

Segmento de mercado	Cobertura geográfica	Base de clientes
Bancos comunitários locais	39 Locais bancários	Mais de 185.000 contas de clientes

Taxas de juros competitivas e produtos financeiros

Taxas de juros dos principais produtos bancários em janeiro de 2024:

• Contas de poupança pessoal: 0,75% - 1,25% APY
• Certificados de depósito: 3,50% - 4,75% APY
• Contas de corrente de negócios: taxas competitivas sem taxas mensais de manutenção

Experiências bancárias digitais e móveis convenientes

Métricas de plataforma digital	2023 Estatísticas
Usuários bancários móveis	87.500 usuários ativos
Volume de transações online	2,3 milhões de transações mensais

Atendimento ao cliente baseado em relacionamento

Taxa de retenção de clientes em 2023: 92,4%, com uma duração média do relacionamento com o cliente de 7,6 anos.

Serviços abrangentes de planejamento financeiro e consultoria

• Ativos de gerenciamento de patrimônio: US $ 742 milhões
• Clientes de consultoria de investimento: 4.300
• Serviços de planejamento financeiro: consultas gratuitas para clientes existentes

Avaria do serviço de consultoria	2023 desempenho
Planejamento de aposentadoria	1.850 consultas ao cliente
Gerenciamento de portfólio de investimentos	US $ 328 milhões sob gerenciamento ativo

The First Bancshares, Inc. (FBMS) - Modelo de Negócios: Relacionamentos do Cliente

Gerentes de relacionamento bancário pessoal

Em 2024, a First Bancshares, Inc. emprega 87 gerentes de relacionamento dedicados em suas filiais do Mississippi e Alabama. Esses gerentes lidam com um portfólio médio de clientes de 128 clientes bancários de alta rede e negócios.

Região da filial	Número de gerentes de relacionamento	Tamanho médio do portfólio de clientes
Mississippi	52	124 clientes
Alabama	35	132 clientes

Engajamento do cliente focado na comunidade

O banco mantém 42 eventos de engajamento da comunidade anualmente, visando redes comerciais locais e organizações comunitárias.

• Participação total do evento da comunidade: 3.245 indivíduos em 2024
• Eventos de rede de negócios locais: 18 eventos
• Sessões de alfabetização financeira comunitária: 24 eventos

Plataformas de autoatendimento online e móveis

As plataformas bancárias digitais atendem a 76.542 usuários ativos em 2024, representando 68% da base total de clientes do banco.

Plataforma digital	Usuários ativos	Transações mensais
Aplicativo bancário móvel	62,345	1,247,890
Site bancário online	14,197	423,567

Oficinas regulares de educação financeira

O banco conduz 36 workshops de educação financeira anualmente, atingindo 1.872 participantes em suas regiões de serviço.

• Oficinas de finanças pessoais: 18 sessões
• Planejamento financeiro de pequenas empresas: 12 sessões
• Seminários de planejamento da aposentadoria: 6 sessões

Canais de suporte ao cliente responsivos

A infraestrutura de suporte ao cliente lida com 97,3% das consultas de clientes em 24 horas.

Canal de suporte	Tempo médio de resposta	Taxa de satisfação do cliente
Suporte telefônico	12 minutos	94.5%
Suporte por e -mail	4 horas	92.7%
Bate -papo ao vivo	3 minutos	96.2%

The First Bancshares, Inc. (FBMS) - Modelo de Negócios: Canais

Rede de agência bancária física

Em 2023, a First Bancshares, Inc. opera 98 agências bancárias de serviço completo em Mississippi e Alabama.

Estado	Número de ramificações
Mississippi	76
Alabama	22

Site bancário online

O banco fornece uma plataforma bancária on -line abrangente com os seguintes recursos:

• Rastreamento do saldo da conta
• Transferências de fundos
• Serviços de pagamento da conta
• States eletrônicos

Aplicativo bancário móvel

Estatísticas de aplicativos bancários móveis para 2023:

Métrica	Valor
Downloads de aplicativos móveis totais	87,500
Usuários ativos mensais	62,300

Rede ATM

O FBMS mantém uma rede de 142 caixas eletrônicos em suas regiões operacionais.

Tipo de atm	Número
Caixas eletrônicos de propriedade de bancos	98
ATMs de rede de parceiros	44

Suporte ao cliente de telefone e digital

Canais de suporte ao cliente Métricas de desempenho:

• Horário de call center: 8:00 - 18:00 CST
• Tempo médio de resposta: 2,7 minutos
• Taxa de satisfação do cliente: 94%

Canal de suporte	Volume de contato diário
Suporte telefônico	1.250 chamadas
Chat online	450 interações
Suporte por e -mail	320 e -mails

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

Pequenas e médias empresas

A partir do quarto trimestre de 2023, o First Bancshares, Inc. atende a aproximadamente 2.750 empresas pequenas e médias em todo o Mississippi e Alabama.

Segmento de negócios	Total de clientes	Tamanho médio do empréstimo
Negócios de varejo	1,150	$475,000
Serviços profissionais	850	$325,000
Fabricação	750	$625,000

Clientes bancários de varejo individuais

Total de clientes bancários de varejo: 87.500 em 31 de dezembro de 2023.

• Distribuição de idade: 35-54 anos (42%)
• Saldo médio de depósito: US $ 24.750
• Usuários de banco digital: 65% da base de clientes

Profissionais da comunidade local

Base de clientes de 12.500 profissionais locais em setores de saúde, educação e legais.

Setor profissional	Número de clientes
Assistência médica	5,250
Educação	3,750
Profissionais do direito	3,500

Proprietários de empresas agrícolas e rurais

Segmento de clientes agrícolas: 3.200 clientes com carteira total de empréstimos agrícolas de US $ 185,6 milhões em 2023.

• Tamanho da fazenda: 250-1.500 acres
• Culturas primárias: soja, algodão, madeira
• Empréstimo agrícola médio: US $ 58.000

Indivíduos de alta rede

Segmento de clientes de alta rede: 1.850 indivíduos com ativos totais sob gerenciamento de US $ 425,3 milhões.

Nível de riqueza	Número de clientes	Valor médio do portfólio
$ 1 milhão- $ 5m	1,350	US $ 2,4 milhões
US $ 5 milhões a US $ 10 milhões	350	US $ 6,8 milhões
US $ 10 milhões+	150	US $ 15,2 milhões

The First Bancshares, Inc. (FBMS) - Modelo de negócios: estrutura de custos

Operação de ramificação e despesas de manutenção

Para o ano fiscal de 2023, a First Bancshares, Inc. relatou despesas totais de operação de US $ 42,6 milhões. A quebra dessas despesas inclui:

Categoria de despesa	Valor ($)
Manutenção da instalação	12,800,000
Utilitários	5,600,000
Aluguel e arrendamento	8,900,000
Segurança da filial	3,700,000

Infraestrutura de tecnologia e investimentos de plataforma digital

O banco investiu US $ 18,3 milhões em infraestrutura de tecnologia para 2023, com alocações específicas:

• Sistemas bancários principais: US $ 7,2 milhões
• Aprimoramentos de segurança cibernética: US $ 4,5 milhões
• Plataforma bancária digital: US $ 3,9 milhões
• Suporte e manutenção de TI: US $ 2,7 milhões

Salários e benefícios dos funcionários

A compensação total dos funcionários para 2023 foi US $ 89,4 milhões, estruturado da seguinte forma:

Componente de compensação	Valor ($)
Salários da base	62,500,000
Bônus de desempenho	9,800,000
Seguro de saúde	7,600,000
Benefícios de aposentadoria	9,500,000

Custos de conformidade regulatória

Despesas relacionadas à conformidade para 2023 totalizaram US $ 12,7 milhões:

• Consultoria legal e regulatória: US $ 4,3 milhões
• Software e ferramentas de conformidade: US $ 3,2 milhões
• Treinamento e educação: US $ 2,8 milhões
• Auditoria e relatórios: US $ 2,4 milhões

Despesas de marketing e aquisição de clientes

As despesas de marketing para 2023 foram US $ 6,5 milhões, alocado em vários canais:

Canal de marketing	Valor ($)
Marketing digital	2,300,000
Publicidade tradicional	1,700,000
Patrocínio da comunidade	1,200,000
Programas de referência ao cliente	1,300,000

The First Bancshares, Inc. (FBMS) - Modelo de negócios: fluxos de receita

Receita de juros de empréstimos e produtos de crédito

Para o ano fiscal de 2023, a First Bancshares, Inc. registrou receita de juros líquidos de US $ 248,9 milhões. A quebra da carteira de empréstimos inclui:

Categoria de empréstimo	Montante total
Empréstimos comerciais	US $ 1,2 bilhão
Empréstimos imobiliários residenciais	US $ 987 milhões
Empréstimos ao consumidor	US $ 456 milhões

Taxas de serviço bancário

As cobranças e taxas de serviço geraram US $ 42,3 milhões em receita para 2023, com a seguinte quebra:

• Taxas de manutenção de conta: US $ 15,6 milhões
• Taxas de cheque especial: US $ 12,7 milhões
• Taxas de transação ATM: US $ 8,2 milhões
• Outras taxas de serviço bancário: US $ 5,8 milhões

Comissões de investimento e gerenciamento de patrimônio

A divisão de gestão de patrimônio gerada US $ 37,5 milhões Em comissões para 2023, com fontes importantes de receita, incluindo:

Fonte de receita	Valor da comissão
Taxas de gerenciamento de ativos	US $ 22,1 milhões
Serviços de Consultoria Financeira	US $ 9,4 milhões
Comissões de corretagem	US $ 6,0 milhões

Taxas de transação bancária digital

Transações bancárias digitais geradas US $ 14,6 milhões em receita para 2023, com a seguinte distribuição:

• Taxas de pagamento on -line de conta: US $ 5,2 milhões
• Taxas de depósito móvel: US $ 3,8 milhões
• Taxas de transferência eletrônica: US $ 3,1 milhões
• Outras taxas de transação digital: US $ 2,5 milhões

Receita de hipoteca e empréstimos imobiliários

Atividades de hipoteca e empréstimos imobiliários produzidos US $ 65,4 milhões em receita total para 2023:

Categoria de empréstimo	Valor da receita
Taxas de originação hipotecária	US $ 38,7 milhões
Receitas de manutenção de hipotecas	US $ 18,9 milhões
Taxas de empréstimo imobiliário	US $ 7,8 milhões

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.