Home » News » Banking » Hattiesburg’s The First Bancshares announces the acquisition of Iberville Bank and Gulf Coast Community Bank

Hattiesburg’s The First Bancshares announces the acquisition of Iberville Bank and Gulf Coast Community Bank

The First Bancshares, Inc. (NASDAQ: FBMS), holding company for The First, A National Banking Association, (www.thefirstbank.com), based in Hattiesburg, has announced that it has acquired Gulf Coast Community Bank, based in Pensacola, FL and Iberville Bank, based in Plaquemine, LA.

The First Bancshares President and CEO Hoppy Cole said: “We are pleased to welcome the customers and staff of both Iberville Bank and Gulf Coast Community Bank to our team. We are excited about the opportunities that these mergers will create. The combination of Iberville Bank, Gulf Coast Community Bank and The First will create a community bank focused on its local markets with the products, services and lending capacity of a $1.6 billion dollar organization.”

The acquisitions announced today represent a continued expansion of The First Bancshares strategy to build a regional community bank across the Gulf South.

The transactions will open a new market for the Company, adding five locations in Pensacola Florida and will significantly increase the Companies market presence in Central Louisiana with 10 new locations in the Baton Rouge area.

The First will now serve clients in MS, LA, AL and FL with 48 locations and will grow to $1.6 billion in total assets and $1.3 billion in total deposits.

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