FIG Partners Advised The First Bancshares, Inc. In $80 Million Acquisition of FMB Banking Corporation

FIG Has Now Completed 107 M&A Transactions Totaling More Than
$6.3 Billion In Transaction Value

ATLANTA, July 24, 2018 —  The First Bancshares, Inc. (NASDAQ:FBMS) has announced an agreement to acquire FMB Banking Corporation in a combined stock and cash transaction valued at $80 million.

FIG Advised The First Bancshares, Inc. In $80 Million Acquisition

Under the terms of the agreement, each FMB shareholder will have the option to receive either $204.70 in cash or 5.6391 shares of First Bancshares’ common stock in exchange for each share of FMB common stock.

This transaction is subject to customary pro-ration and reallocation procedures, so that 80% of FMB shares will receive the stock consideration and 20% will receive the cash consideration.

The aggregate consideration is valued at approximately $80 million, based on FBMS’ closing price of $36.45 per share as of July 23, 2018.

Upon completion of the transaction, First Bancshares will have approximately $3.0 billion in total assets, $2.5 billion in total deposits and $2.0 billion in total loans. First Bancshares will have 67 locations in Mississippi, Louisiana, Alabama, Florida, and Georgia.

M. Ray “Hoppy” Cole, President & Chief Executive Officer of First Bancshares and The First, said, “We are excited to join forces with FMB and look forward to growing our combined market share in Florida and southern Georgia.

“We are convinced that this partnership will allow our combined company to better serve our existing clients and will provide additional capacity to generate new relationships. The combined company will have improved access to growth capital to help support existing as well as new markets in the Florida/Georgia region.

“FMB is over 100 years old and is well known for delivering excellent service and exceptional performance. An important part of our community bank model is local support and ownership. It helps ensure that we remain responsive to the needs of our clients and local markets. FMB shareholders will have a significant ownership position in our combined company and will be a part of continuing to build our franchise in the Gulf South.”

The FIG team included Greg Gersack and Matthew Veneri, Managing Principals and Co-Heads of Investment Banking.

More information is available here.

Since 2003, FIG has been the trusted advisor to community banks and investors. To learn more about FIG’s investment banking services, visit www.figpartners.com.

FIG Partners