The First Bank

What The First Bank does

The First Bank is a regional community bank that historically operated across the Southeastern United States, serving retail consumers, small-to-mid-size businesses, and mortgage/wealth management clients through a multi-state branch network and full-featured digital banking platform. The bank offered a standard commercial and retail banking suite: checking, savings, CDs, IRAs, credit and debit cards, personal and auto loans, mortgages, home equity lines, SBA loans, treasury management, and wealth and trust services, distributed through physical branches, online and mobile channels (iOS/Android), Zelle, mobile check deposit, mortgage loan officers, and business banking relationship managers.

The company was the core banking subsidiary of The First Bancshares, Inc., a public holding company headquartered in Hattiesburg, Mississippi. Following a multi-year M&A roll-up strategy that included acquisitions of Iberville Bank, Gulf Coast Community Bank, Sunshine Community Bank, First Community Bank Alabama ($60M), FMB Banking Corp. ($80M), Southwest Georgia Financial, Beach Bancorp ($116.7M), and Heritage Southeast Bancorporation ($207M), The First Bancshares was itself acquired by Renasant Corporation (NYSE:RNST) in 2025. That transaction expanded the combined entity's assets by 48.3% year-over-year and established a Southeast footprint spanning Mississippi, Tennessee, Alabama, Georgia, and Florida.

Post-integration, the bank reports above-peer profitability metrics: ROA of 1.26%, ROE of 14.35%, net interest income expanding from $16.4M to $20.8M, and a Q1 2026 dividend of $0.37 per share (5.31% annualized yield). The franchise trades at a 9.4x P/E, the lowest in its peer group. Revenue is generated primarily through net interest margin on loans and deposits, supplemented by fee income from treasury management, wealth management (including Park Place Capital), mortgage origination, and card interchange.

Name

The First Bank

Legal name

The First Bancshares, Inc.

Website

https://www.thefirstbank.com

Company type

Public

Founded year

1996

Operating status

Acquired

Headcount range

251–500 employees

Short description

The First Bank is a Southeast U.S. regional community bank, now operating as part of Renasant Corporation, serving retail consumers, small-to-mid-size businesses, mortgage borrowers, and wealth management clients across Mississippi, Tennessee, Alabama, Georgia, and Florida through a multi-channel branch and digital banking platform.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Community banking services
• Consumer lending products
• Commercial banking services
• Mortgage and home lending
• Wealth management services

Headquarters

HQ city

Hattiesburg

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Distribution channels6 records

Marketing channels4 records

Core offering

The First Bank is a regional community bank delivering FDIC-insured deposit products (checking, savings, CDs, IRAs, HSA, money market), consumer and commercial lending (personal, auto, home equity, mortgages, SBA loans, treasury management), cards (credit, debit, affinity), digital banking (online/mobile, Zelle, mobile deposit, bill pay), and wealth management and trust services. Operating across Mississippi, Tennessee, Alabama, Georgia, and Florida as part of Renasant Corporation, it serves retail consumers, small-to-mid-size businesses, mortgage borrowers, and affluent clients through a physical branch network and digital channels.

Product overview

The First Bank operates as a regional banking institution, offering personal and business banking services. Following acquisitions of Beach Bank and Heritage Southeast Bank, The First Bank expanded its presence across Georgia and Florida markets. The bank provides standard commercial and retail banking products including checking accounts, savings accounts, loans, and related financial services.

Differentiator

Problem solved

Functional benefit

Products and services

• Checking Accounts (Interest, Simple, Rewards Extra) Tiered FDIC-insured consumer checking accounts — Interest Checking, Simple Checking, and Rewards Extra Checking — for individuals and households in the Southeast U.S., with features such as debit cards, online and mobile banking, and bill pay.
• Savings Accounts (Regular, Rewards, Children's, Money Market) FDIC-insured consumer savings products including Regular Savings, Rewards Savings, Children's Savings, and Personal Money Market accounts for individuals and households.
• Certificates of Deposit (CDs) FDIC-insured Certificates of Deposit offered to personal banking customers for fixed-term deposits with a stated interest rate.
• Health Savings Account (HSA) Health Savings Account deposit product for individuals to set aside pre-tax funds for qualified medical expenses, paired with an FDIC-insured deposit account.
• Individual Retirement Accounts (IRAs) FDIC-insured Individual Retirement Account deposit products for retirement savings held at The First Bank.
• Credit Cards Consumer credit card products issued to eligible personal banking customers for purchases, balance management, and digital payments.
• Debit Cards and Affinity Debit Cards Debit cards linked to consumer checking accounts, including affinity/branded debit card variants, supporting point-of-sale purchases, ATM access, and digital wallet tokenization.
• Personal Loans Unsecured personal installment loans for consumers to finance personal needs, with online loan application and payment tools.
• Auto Loans Consumer auto loan financing for new and used vehicle purchases, with online application and digital servicing tools.
• Home Equity Line of Credit (HELOC) Revolving home equity line of credit secured by residential real estate, allowing homeowners to borrow against home equity for various needs.
• Mortgage Loans (Purchase and Refinancing) Residential mortgage products including purchase mortgages, refinancing, renovation and repair loans, Community Homebuyer Programs, and Affordable Mortgage Products, delivered through dedicated mortgage lending officers.
• Online and Mobile Banking Online banking portal providing account management, bill pay, e-statements, and self-service tools for personal banking customers.
• Mobile Banking App (iOS and Android) Native mobile banking application for iOS and Android providing account management, mobile check deposit, bill pay, Zelle, mobile wallet, and digital account access.
• Zelle Person-to-Person Payments Person-to-person payment service integrated into the digital banking platform, allowing customers to send and receive funds with eligible U.S. bank accounts.
• Mobile Wallet and Click to Pay Tokenization services enabling customers to add The First Bank debit and credit cards to mobile wallets and Click to Pay for in-store, in-app, and online card payments.
• Bill Pay Online and mobile bill payment service for personal banking customers to schedule recurring and one-time payments from their checking accounts.
• Mobile Check Deposit Remote deposit capture capability within the mobile banking app, allowing customers to deposit checks by capturing images with their mobile device.
• Trust Services Trust administration services for individuals and families, including trust planning, estate administration, and fiduciary services delivered by trust officers.
• Financial Services (Financial Planning and Retirement Investing) Financial planning, retirement investing, and related advisory services for affluent individuals and families, delivered through financial advisors.
• Park Place Capital (Wealth Advisory) Affiliated wealth advisory offering investment management and financial planning services to wealth management clients of The First Bank.
• Medical Banking Specialized banking offering for medical professionals, providing tailored deposit, lending, and wealth management solutions for the healthcare practitioner segment.
• Private Client Banking Private banking relationship service for high-net-worth individuals and families, combining deposits, lending, wealth management, and trust services through dedicated advisors.
• Business and Commercial Banking (Commercial Loans, SBA Loans, Treasury Management) Business banking products and services for small-to-mid-size businesses and commercial clients, including commercial loans, SBA loans, business checking and savings, treasury management, and cash management solutions delivered through dedicated business bankers.

Quantifiable outcome

• Net interest income grew from $16.4M to $20.8M driven by lower deposit costs and higher net interest margin.
• +4 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• Heritage Southeast Bancorporation, Inc.coreStrategic or Co-development Partner · 27 July 2022The First Bancshares, Inc. announced a proposed merger with Heritage Southeast Bancorporation, Inc. (HSBI), involving the acquisition of HSBI and merger of Heritage Southeast Bank into The First Bank. The transaction was valued at approximately $207 million and aimed to expand The First Bancshares' presence across Georgia and Florida, creating a stronger regional bank. This represented a key strategic M&A partnership for geographic expansion.
• Beach Bancorp, Inc.coreStrategic or Co-development Partner · 26 April 2022The First Bancshares, Inc. announced a proposed acquisition of Beach Bancorp, Inc., involving the merger of Beach Bank into The First Bank and expansion of its presence in Florida. The all-stock transaction was valued at approximately $116.7 million and was expected to close in late 2022 after regulatory and shareholder approvals. This represented a strategic expansion of the Florida market footprint.
• Renasant Corporation (NYSE:RNST)coreStrategic or Co-development PartnerRenasant Corporation completed its acquisition of The First Bancshares, significantly expanding its market share in the Southeast. The acquisition increased Renasant's assets by 48.3% year-over-year and boosted earnings in 2025. The First Bancshares' operations were integrated into the Renasant Bank network, extending Renasant's footprint to include Georgia and Florida markets.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Renasant Corporation: NYSE-listed parent (RNST) that acquired The First Bancshares; operates community banking across MS, TN, AL, GA, and FL with comparable consumer/commercial product suites, branch network, and community-bank DNA — the most direct and most relevant peer.
• Trustmark Corporation: NASDAQ-listed (TRMK) Mississippi-headquartered regional bank with consumer, commercial, and wealth management services across the Southeast; comparable community-bank model, asset size, and geographic overlap.
• Cadence Bank: NYSE-listed (CADE) Southeast regional bank formed from the merger of BancorpSouth and Cadence; provides commercial banking, treasury management, and wealth services with overlapping footprint in MS, AL, GA, TN, and FL.
• Synovus Financial Corp. NYSE-listed (SNV) Southeast regional bank headquartered in Columbus, GA; competes directly with community and commercial banking services across Georgia, Florida, Alabama, and Tennessee markets.
• SouthState Corporation: NYSE-listed (SSB) Southeast super-community bank formed from the merger of CenterState and South State; offers similar consumer, commercial, and mortgage products with direct overlap in Florida, Georgia, and Alabama.
• Pinnacle Financial Partners: NYSE-listed (PNFP) Tennessee-headquartered regional bank with growing Southeast footprint; competing commercial banking, treasury management, and wealth offerings make it a relevant comparable.
• ServisFirst Bancshares: NYSE-listed (SFBS) Birmingham, AL-based super-community bank with operations across the Southeast; similar commercial banking focus, relationship-driven model, and asset scale tier.
• Simmons First National Corporation: NASDAQ-listed (SFNC) Arkansas-based regional bank with significant Southeast and Texas footprint; comparable community-bank operating model with consumer, commercial, and treasury management services.

Broad incumbents

• First Horizon Corporation: NYSE-listed (FHN) large Southeast regional bank (~$80B assets) with broad consumer, commercial, mortgage, and wealth offerings across TN, MS, FL, GA; larger-scale incumbent that competes for similar customers with a wider product set.
• Regions Financial Corporation: NYSE-listed (RF) major Southeast regional bank (~$150B assets) with full-service consumer, commercial, and wealth capabilities across the same five-state footprint; an entrenched incumbent competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/thefirstbank
• Facebookfacebook.com/280268922110
• LinkedInlinkedin.com/company/the-first-a-national-banking-association

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A9 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The First Bank