First Bancshares plans to delist from Nasdaq

Mountain Grove-based First Bancshares Inc. (Nasdaq: FSBI) has informed the Nasdaq Stock Market LLC of its intent to voluntarily pull its common stock from the market by the end of the month.

The bank holding company operates a Springfield branch of First Home Savings Bank at 2655 S. Campbell Ave.

After delisting from the market, the company also plans to file with the U.S. Securities and Exchange Commission to deregister its common stock, which according to a news release, is lawful because the company has less than 1,200 holders of record of its common stock.

The company expects to realize roughly $200,000 in annual cost savings related to the moves, according to a news release.

"The decision to deregister from the SEC was driven by a desire to achieve substantial annual savings by reducing accounting, legal and administrative costs associated with being an SEC registrant," said R. Bradley Weaver, First Bancshares chairman of the board and CEO, in the release.

First Bancshares plans to continue trading its stock on the Over-the-Counter Bulletin Board - a regulated electronic trading service - and intends to continue posting quarterly and annual financial results on its Web site.

As of 11:08 a.m., the company's shares were trading at $5.36, compared to its 52-week range of $4.80 to $9.49.