First Bancshares Management

Management criteria checks 3/4

First Bancshares' CEO is Hoppy Cole, appointed in Aug 2005, has a tenure of 19.17 years. total yearly compensation is $2.43M, comprised of 29.1% salary and 70.9% bonuses, including company stock and options. directly owns 0.46% of the company’s shares, worth €4.01M. The average tenure of the management team and the board of directors is 19.2 years and 25.3 years respectively.

Key information

Hoppy Cole

Chief executive officer

US$2.4m

Total compensation

CEO salary percentage	29.1%
CEO tenure	19.2yrs
CEO ownership	0.5%
Management average tenure	19.2yrs
Board average tenure	25.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Hoppy Cole's remuneration changed compared to First Bancshares's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	n/a	n/a	US$76m
Mar 31 2024	n/a	n/a	US$80m
Dec 31 2023	US$2m	US$706k	US$75m
Sep 30 2023	n/a	n/a	US$81m
Jun 30 2023	n/a	n/a	US$70m
Mar 31 2023	n/a	n/a	US$62m
Dec 31 2022	US$3m	US$642k	US$63m
Sep 30 2022	n/a	n/a	US$62m
Jun 30 2022	n/a	n/a	US$65m
Mar 31 2022	n/a	n/a	US$64m
Dec 31 2021	US$2m	US$581k	US$64m
Sep 30 2021	n/a	n/a	US$64m
Jun 30 2021	n/a	n/a	US$59m
Mar 31 2021	n/a	n/a	US$61m
Dec 31 2020	US$2m	US$523k	US$53m
Sep 30 2020	n/a	n/a	US$49m
Jun 30 2020	n/a	n/a	US$49m
Mar 31 2020	n/a	n/a	US$44m
Dec 31 2019	US$1m	US$469k	US$44m
Sep 30 2019	n/a	n/a	US$39m
Jun 30 2019	n/a	n/a	US$32m
Mar 31 2019	n/a	n/a	US$25m
Dec 31 2018	US$894k	US$413k	US$21m
Sep 30 2018	n/a	n/a	US$17m
Jun 30 2018	n/a	n/a	US$16m
Mar 31 2018	n/a	n/a	US$13m
Dec 31 2017	US$837k	US$386k	US$11m

Compensation vs Market: Hoppy's total compensation ($USD2.43M) is above average for companies of similar size in the German market ($USD1.42M).

Compensation vs Earnings: Hoppy's compensation has been consistent with company performance over the past year.

CEO

Hoppy Cole (62 yo)

19.2yrs

Tenure

US$2,426,148

Compensation

Mr. Milton Ray Cole, Jr., also known as Hoppy, has been the President of First BancShares Inc. since August 8, 2005 and The First Bank since 2009. He serves as Chairman of The First Bank and The First Banc...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Milton Cole	Chairman	19.2yrs	US$2.43m	0.46% $ 4.0m
Donna Lowery	Executive VP & CFO	19.7yrs	US$1.09m	0.20% $ 1.8m
Dawn Ard	Compliance Officer & Compliance Officer of The First	no data	no data	no data
Marsie White	Vice President of Human Resource	no data	no data	no data
George Noonan	Executive VP & Chief Credit Officer	no data	no data	no data
Chandra Kidd	VP & Corporate Secretary	no data	no data	no data
Douglas Waldron	President of Northern Region - The First	no data	US$260.81k	no data
Carol Daniel	Credit Administrator of The First	no data	US$179.88k	no data
Hayden Mitchell	Chief Retail Banking Officer & Executive VP of The First	15.2yrs	US$246.17k	no data
David Bush	Executive Vice President of Private Banking - The First	no data	US$276.03k	no data
W. Neth	President of Alabama Region	no data	US$268.01k	no data

19.2yrs

Average Tenure

Experienced Management: 3RY's management team is seasoned and experienced (19.2 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Milton Cole	Chairman	23.8yrs	US$2.43m	0.46% $ 4.0m
Jonathan Levy	Independent Director	2.2yrs	US$74.26k	0.050% $ 441.9k
J. Seidenburg	Independent Director	26.8yrs	US$88.16k	0.33% $ 2.9m
Andrew Stetelman	Independent Director	29.8yrs	US$77.71k	0.19% $ 1.7m
David Bomboy	Independent Director	29.8yrs	US$78.11k	0.43% $ 3.8m
Fred McMurry	Independent Director	29.8yrs	US$81.91k	0.30% $ 2.6m
Ted Parker	Lead Independent Director	29.8yrs	US$95.96k	0.30% $ 2.6m
E. Gibson	Independent Director	29.8yrs	US$104.96k	0.35% $ 3.1m
Charles Lightsey	Independent Director	21.8yrs	US$98.16k	0.31% $ 2.8m
Thomas Mitchell	Independent Director	7.4yrs	US$68.71k	0.054% $ 476.2k
Diana Moore	Independent Director	4.4yrs	US$68.86k	0.023% $ 204.1k
Valencia Williamson	Independent Director	1.4yrs	US$15.20k	0.0087% $ 76.2k

25.3yrs

Average Tenure

63.5yo

Average Age

Experienced Board: 3RY's board of directors are seasoned and experienced ( 25.3 years average tenure).

First Bancshares Management

Management criteria checks 3/4

Key information

Recent management updates

The First Bancshares, Inc., Annual General Meeting, May 23, 2024

The First Bancshares, Inc. and The First Bank Appoint M. Ray “Hoppy” Cole, Jr. as Chairman of the Board of Directors

The First Bancshares, Inc. Appoints Mr. Jonathan A. Levy as Director

Insufficient new directors

The First Bancshares, Inc., Annual General Meeting, May 19, 2022

Insufficient new directors

Recent updates

Renasant Corporation (NYSE:RNST) entered into a definitive agreement and plan of merger to acquire The First Bancshares, Inc. (NYSE:FBMS) for approximately $1.2 billion.

Renasant Corporation (NYSE:RNST) entered into a definitive agreement and plan of merger to acquire The First Bancshares, Inc. (NYSE:FBMS) for approximately $1.2 billion.

Second quarter dividend of US$0.25 announced

Second quarter 2024 earnings released: EPS: US$0.62 (vs US$0.76 in 2Q 2023)

The First Bancshares, Inc. to Report Q2, 2024 Results on Jul 24, 2024

The First Bancshares, Inc.(NYSE:FBMS) dropped from NASDAQ Composite Index

First quarter dividend of US$0.25 announced

First quarter 2024 earnings released: EPS: US$0.65 (vs US$0.52 in 1Q 2023)

The First Bancshares, Inc. to Report Q1, 2024 Results on Apr 24, 2024

The First Bancshares, Inc., Annual General Meeting, May 23, 2024

Full year 2023 earnings released: EPS: US$2.41 (vs US$2.86 in FY 2022)

The First Bancshares, Inc. (NasdaqGM:FBMS) announces an Equity Buyback for $50 million worth of its shares.

Upcoming dividend of US$0.25 per share at 3.8% yield

Fourth quarter dividend of US$0.25 announced

Full year 2023 earnings released: EPS: US$2.39 (vs US$2.86 in FY 2022)

The First Bancshares, Inc. to Report Q4, 2023 Results on Jan 24, 2024

Upcoming dividend of US$0.24 per share at 4.0% yield

Third quarter 2023 earnings released: EPS: US$0.77 (vs US$0.61 in 3Q 2022)

The First Bancshares, Inc. to Report Q3, 2023 Results on Oct 26, 2023

Second quarter 2023 earnings released: EPS: US$0.75 (vs US$0.77 in 2Q 2022)

New minor risk - Share price stability

First quarter 2023 earnings released: EPS: US$0.52 (vs US$0.81 in 1Q 2022)

Investor sentiment deteriorates as stock falls 18%

Upcoming dividend of US$0.21 per share at 2.8% yield

The First Bancshares, Inc. Increases Quarterly Cash Dividend, Payable on February 24, 2023

Full year 2022 earnings released: EPS: US$2.84 (vs US$3.05 in FY 2021)

Third quarter 2022 earnings released: EPS: US$0.61 (vs US$0.77 in 3Q 2021)

The First Bancshares, Inc. Declares Cash Dividend, Payable on November 25, 2022

The First Bancshares, Inc. and The First Bank Appoint M. Ray “Hoppy” Cole, Jr. as Chairman of the Board of Directors

The First Bancshares, Inc. (NasdaqGM:FBMS) completed the acquisition of Beach Bancorp, Inc.

Second quarter 2022 earnings released: EPS: US$0.76 (vs US$0.74 in 2Q 2021)

The First Bancshares, Inc. Appoints Mr. Jonathan A. Levy as Director

The First Bancshares, Inc. (NasdaqGM:FBMS) executed a definitive agreement to acquire Heritage Southeast Bancorporation, Inc. (OTCPK:HSBI) for approximately $210 million.

Insufficient new directors

The First Bancshares, Inc. (NasdaqGM:FBMS) entered into a definitive agreement to acquire Beach Bank for approximately $120 million.

The First Bancshares, Inc. to Report Q1, 2022 Results on Apr 27, 2022

The First Bancshares, Inc., Annual General Meeting, May 19, 2022

The First Bancshares, Inc. announced delayed annual 10-K filing

Upcoming dividend of US$0.17 per share

The First Bancshares, Inc. Declares A Cash Dividend, Payable on February 25, 2022

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

The First Bancshares, Inc. Reports Net Charge Offs for the Quarter Ended December 31, 2021

Insufficient new directors

Upcoming dividend of US$0.16 per share

Third quarter 2021 earnings released: EPS US$0.76 (vs US$0.56 in 3Q 2020)

Second quarter 2021 earnings released: EPS US$0.74 (vs US$0.79 in 2Q 2020)

First quarter 2021 earnings released: EPS US$0.79 (vs US$0.44 in 1Q 2020)

Upcoming dividend of US$0.14 per share

First quarter 2021 earnings released: EPS US$0.79 (vs US$0.44 in 1Q 2020)

Revenue misses expectations

Full year 2020 earnings released: EPS US$2.53 (vs US$2.57 in FY 2019)

New 90-day high: €27.89

Vice Chairman recently sold €136k worth of stock

Full year 2020 earnings released: EPS US$2.52 (vs US$2.57 in FY 2019)

Revenue misses expectations

New 90-day high: €26.03

New 90-day high: €25.08

New 90-day high: €24.65

Market bids up stock over the past week

Third quarter 2020 earnings released: EPS US$0.56

New 90-day high: €20.79

Upcoming Dividend of US$0.12 Per Share

New 90-day high: €19.97

The First Bancshares, Inc. announced a financing transaction

First half earnings released

The First Bancshares, Inc. (NasdaqGM:FBMS) completed the acquisition of Southwest Georgia Financial Corporation (AMEX:SGB).

CEO Compensation Analysis

CEO

Tenure