The First Bancshares, Inc. (NASDAQ: FBMS) has announced the transfer of its common stock listing to the New York Stock Exchange (NYSE) from the Nasdaq Stock Market LLC (Nasdaq). The company's common stock is expected to begin trading on the NYSE on Thursday, May 30, 2024, under the ticker symbol "FBMS."
Since its initial listing on the Nasdaq in 2006, The First Bancshares has experienced substantial growth, increasing its assets from $294 million to nearly $8 billion in less than two decades. The company has expanded from seven offices in Mississippi to over 116 locations, including 111 branches and five loan offices across Mississippi, Louisiana, Alabama, Florida, and Georgia.
As of May 17, 2024, The First Bancshares employs over 1,000 team members and is recognized as one of the largest certified community development financial institutions in the nation. Additionally, since 2010, the bank has awarded over $70 million in community investments to support economic growth, job creation, and affordable housing projects in economically distressed areas.
The company's President and CEO, M. Ray "Hoppy" Cole Jr., expressed excitement about the move to the NYSE, emphasizing the commitment to providing value to employees, customers, communities, and shareholders. The transfer to the NYSE is seen as a significant step in the company's journey as a public entity, allowing it to leverage the NYSE platform and trading model for the benefit of shareholders.
The transfer to the NYSE marks The First Bancshares as the sixteenth bank to transition to the NYSE since 2021. The move is expected to position the company among many of the world's leading and most prestigious companies that trade on the NYSE, providing access to a world-class community.
As a result of these announcements, the company's shares have moved 0.3% on the market, and are now trading at a price of $25.98. For the full picture, make sure to review First Bancshares's 8-K report.
