HATTIESBURG, MS (WDAM) - The First Bank is growing.
Based in Hattiesburg, the bank’s latest expansion will make the bank the fifth largest bank headquartered in the state with $3.4 billion in total assets.
“The company originally issued about $7.5 million in terms of dollars in stock, and today the total market capitalization of the company, which is the total numbers of shares outstanding times the market price, is a little over $500 million, so that’s real value that’s been created for our shareholders here in Hattiesburg,” said Hoppy Cole, President and CEO of The First Bank.
With the merger of FMB Bank, The First will have 74 locations in Mississippi, Louisiana, Alabama, Florida and Georgia.
“Our Florida and Georgia customers will continue doing business with their hometown bankers and will enjoy a full array of financial services now backed by the strength of a community bank with $3 billion in assets,” said Cole.