The First Bancshares, Inc. (NASDAQ: FBMS) (First Bancshares or the Company), the holding company for The First, A National Banking Association, announced today that its Board of Directors has authorized a new share repurchase program to purchase up to an aggregate of $20 million of the Companys common stock. This share repurchase program will have an expiration date of December 31, 2019.
Under the program, the Company may repurchase shares of its common stock periodically in a manner determined by the Companys management. The actual means and timing of purchase, target number of shares and maximum price or range of prices under the program will be determined by management at its discretion and will depend on a number of factors, including the market price of the Company’s common stock, general market and economic conditions, and applicable legal and regulatory requirements.
About The First Bancshares, Inc.
The First Bancshares, Inc., headquartered in Hattiesburg, Mississippi, is the parent company of The First, A National Banking Association. Founded in 1996, the First has operations in Mississippi, Louisiana, Alabama, Florida and Georgia. The Companys stock is traded on the NASDAQ Global Market under the symbol FBMS. Additional information is available on the Companys website: www.thefirstbank.com.
This news release contains forward-looking statements within the meaning of and subject to the safe harbor protections of the Private Securities Litigation Reform Act of 1995. In general, forward-looking statements usually use words such as may, believe, expect, anticipate, intend, will, should, plan, estimate, predict, continue and potential or the negative of these terms or other comparable terminology. Forward-looking statements represent managements beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance, nor should they be relied upon as representing managements views as of any subsequent date. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements.
Factors which could affect the forward-looking statements can be found in the cautionary language included under the headings Managements Discussion and Analysis of Financial Condition and Results of Operations and Risk Factors in the Companys Annual Reports on Form 10-K for the year ended December 31, 2018, and other documents subsequently filed by the Company with the SEC. Consequently, no forward-looking statement can be guaranteed. The Company expressly disclaims any obligation to update any factors or to announce publicly the result of revisions to any of the forward-looking statements included herein to reflect future events or developments.
M. Ray “Hoppy” Cole, Jr.
Chief Executive Officer
Dee Dee Lowery
Chief Financial Officer