Stockmens Bank parent reports 6% dip in quarterly profits

SBJ file

A Springfield branch of Stockmens Bank operates on East Sunshine Street.

Stockmens Bank parent company First Bancshares Inc. (OTCQX: FBSI) reported a decrease in quarterly profits.

First Bancshares, which operates a Springfield branch of Stockmens Bank at 1465 E. Sunshine St., posted $1.6 million in net income for the quarter that ended June 30, according to a news release. That's down roughly 6% from $1.7 million a year earlier.

Total interest income grew to $8 million from $7.1 million year over year, and noninterest expenses were up slightly to $3.4 million.

As of June 30, First Bancshares had assets of $516.8 million and deposits of $455 million, according to the release.

The company's over-the-counter stock closed yesterday at $24.60 per share. The stock's 52-week range is $22 to $32.20 per share.