Stockmens Bank parent company's quarterly profits rise

Stockmens Bank parent company First Bancshares Inc. (OTCQX: FBSI) reported higher profits during the second quarter.

First Bancshares, which operates a Springfield branch of Stockmens Bank at 1465 E. Sunshine St., posted second quarter net income of $1.7 million, or 71 cents per share. That's up from $1.4 million, or 57 cents per share, a year earlier.

Total interest income climbed to $7.1 million from $4.6 million, while noninterest expenses were up to $2.4 million from $1.9 million.

"The increase in noninterest expenses is primarily due to increases in employment-related expenses, professional fees and an industry-wide elevation in the FDIC’s assessment rate," officials said in the release.

First Bancshares has eight Missouri branches.