A subsidiary of First Bancshares and a national banking association, The First president and CEO M Ray ‘Hoppy’ Cole Jr, said the combination of two community banks will enable them to offer better personal services to their customers.
Cole further said that the company is well positioned for future growth and for further acquisition opportunities that may arise.
Following the completion of the transaction, the acquirer will have nearly $970m in assets and approximately $ 845m in deposits.
First National Bank of Baldwin County president and CEO W Wade Neth commented that the transaction will enable the bank have better understanding of the business and personal banking needs of its markets in Baldwin County.
Established in 1996 and headquartered in Hattiesburg, Mississippi, US, The First offers various banking services and manages nearly $789m in assets and currently has 19 locations operating in south Mississippi and Louisiana.
