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The First Bancshares, Inc. Completes Acquisition Of Heritage Southeast Bancorporation, Inc.

Jan 03, 2023over 2 years ago

Acquiring Company

The First Bancshares

Acquired Company

Heritage Southeast Bancorporation

HattiesburgFinancial Services

Description

The First Bancshares, Inc. (NASDAQ: FBMS) (“First Bancshares” or the “Company”), the holding company for The First Bank, announced today that it has completed its previously-announced acquisition of Heritage Southeast Bancorporation, Inc. (“HSBI”) effective January 1, 2023. Following completion of the acquisition, HSBI’s subsidiary bank, Heritage Southeast Bank was merged with The First Bank, with The First Bank as the surviving bank.

Company Information

Company

The First Bancshares

Location

Hattiesburg, Mississippi, United States

About

The First Bancshares, Inc., headquartered in Hattiesburg, Mississippi, is the parent company of The First Bank. Founded in 1996, The First Bank has operations in Mississippi, Louisiana, Alabama, Florida and Georgia. The Company’s stock is traded on the NASDAQ Global Market under the symbol FBMS. Additional information is available on the Company’s website: www.thefirstbank.com.

DealWatch™ Score

60
High M&A Activity

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Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
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