The First, A National Banking Association
The First was formed by a small group of friends who got together on a back porch near Hattiesburg, MS one night and discussed creating a bank that would take care of people. Their dream has grown from a back porch to 24 branches in cities and towns all across South Mississippi, Alabama and Louisiana. But as they've grown, The First has continued to build relationships by taking care of business one customer at a time.
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The past 12 months were interesting for publicly traded companies, including those based in Mississippi. Nine of the top public companies on the Mississippi Business Journal's 15 top public companies list are banking institutions. M. Ray (Hoppy) Cole, president/CEO of The First, A National Banking Association headquartered in Hattiesburg, is also positive. “Our company performed extremely well during 2020, which is a testament to the commitment by our team members to focusing on client service and being nimble; that is being able to change quickly to maintain our high level of service,” he said. “We had a good year with solid asset growth, significantly improved earnings and strong credit quality metrics.”
The West 30's Redemption Company was organized only three years ago, but it's already made a lasting impression on Covington. So when Bryan Burns, the group's founder, said a recent grant to the organization is the "single most impactful thing to ever happen to us," it's reason to take notice. The West 30's Redemption Company announced on Nov. 22 it received a $120,000 grant from The First, a National Banking Association, as well as the Federal Home Loan Bank of Dallas. The event was marked by a ceremonial ribbon cutting held Nov. 22 at the Northshore Community Foundation offices in downtown Covington. Burns has reason to highlight the significance of the grant. He said within the next 12-15 months, the money will make it possible for 12 lower-income families to make down payments on loans to purchase their first homes.
First Bancshares, Inc. announces their planned merger with FMB Banking Corporation in which First Bancshares will acquire 100% of the common stock of FMB. The new combined Company will hold about $3.0 billion in total assets, $2.5 billion in total deposits, $2.0 billion in total loans, and 67 locations. This move will expand The First's presence in the Florida panhandle, southern Georgia, and the Tallahassee market.