In 1982, First Bancshares Inc. was formed as a holding company which owns 100% of the shares of First National Bank. All First National Bank stockholders were converted to these shares in 1983. Presently, the overall ownership consists of a diverse mix of shareholders that in many cases are descendants of the founding principals or prior senior officers of the bank. Presently, there is no concentration of ownership that would be considered a controlling interest in the corporation.
First Bancshares, Inc. is also the sole shareholder of First Bellevue Properties which is a subsidiary formed to hold foreclosed bank assets and other real estate where it’s best to be sheltered from bank liability.
First National Bank is an independent, local community bank focusing our attention on the needs of local families, businesses, and farmers. We pride ourselves in knowing our customers by their first name. The decision process for making for loans and other services is managed by local officers and board of directors. First National Bank of Bellevue received its national charter on September 30, 1875 with headquarters located in Bellevue, Ohio.
First National Bank is the primary operating company of the corporation and consists of a community bank with nine banking offices located in Bellevue, Catawba Island, Clyde, Fremont, Norwalk, Perkins, Port Clinton, Put-In-Bay Ohio, and Sandusky.
FNB offers traditional banking products in the form of Demand Deposit Accounts, Savings Accounts, Money Market Accounts and various forms of Certificates of Deposit. Many loan products are also available targeted to consumers and small business owners. The bank’s target customer base is small businesses, farmers and consumers of residential mortgage loans and Home Equity Loans.
With the banking offices located in north central Ohio, there is a strong influence of manufacturing and tourism businesses along with agricultural base that is significant. Many of our employees have a long tenure of service to the bank.
The management team consists of seasoned bankers and professionals that are driven to make First National Bank a premier financial institution by prudently managing the assets of the company to generate appropriate profits that will provide adequate return to investors. Their names and biographies are included in this material.
The board of directors is made up of local business people that live and work in the immediate market area of the bank. They are very familiar with the needs of the communities we serve and understand the importance of delivering quality financial services in a manner that fits the needs of business people and consumers. Their names and biographies are included in this material.
First Bancshares, Inc.
Deb Hawkins
Corporate Secretary
120 North Street
P.O. Box 210
Bellevue, Ohio 44811
Phone 419-483-7340
Fax 419-483-0006
hawkinsd@fnblifetime.com
Adam Crockett
Owner
Green Hills Golf Course
Clyde, OH
Board of Directors since 2015
Kula Hoty Lynch
Legal Counsel
Hoty
Sandusky, OH
Board of Directors since 2021
Steven L. Mays, DVM
Doctor of Veterinary Medicine
Bellevue, OH
Board of Directors since 1995
Duffield Milkie
Corporate Legal Counsel
Cedar Fair
Sandusky, Oh
Board of Directors since 2014
Dean J. Miller
President/CEO
First National Bank
Bellevue, OH
Board of Directors since 2006
Jerri Miller
Sandusky County Auditor
Fremont, OH
Board of Directors since 2021
Zach Jones
President/CEO
Janotta & Herner, Inc
Norwalk, OH
Board of Directors since 2023
James V. Stouffer
President/CEO Catawba Island Club
Port Clinton, OH
Board of Directors since 2013
Michael K. Winthrop
President/CEO
The Bellevue Hospital
Bellevue, OH
Board of Directors since 1991
Dean Miller
President/CEO
Dean joined First National Bank in 2006 as President/CEO. He serves the role of Chairman as a member of the Board of Directors. He holds a Bachelor of Science degree from The Ohio State University. He is a graduate of the University of Wisconsin Graduate School of Banking at Madison as well as a graduate of the National Commercial Lending School at The University of Oklahoma. A native of Clyde, Ohio, Dean has over 38 years of lending and banking experience with an emphasis on commercial lending and management in a Community Bank environment. He serves as a director of the Federal Reserve Bank of Cleveland and a director of The United Bankers Bank, a correspondent bank serving community banks in the Midwest.
Edmund Schafer
CPA – SVP/Chief Financial Officer
Ed joined the bank as CFO in 2008. He is a graduate of Tiffin University with a Bachelors of Arts degree in Accounting, along with various continuing professional education required of CPA’s. Ed was managing partner of Soderberg and Schafer LLC, an accounting firm located in Port Clinton from 1984 to November 2008. He served First National Bank as a board member for 14 years prior to working for the bank. He is a member of the American Institute of Certified Public Accountants (AICPA), Ohio Society of Certified Public Accountants (OSCPA) and Port Clinton Knights of Columbus.
Deb Hawkins
SVP/Corporate Secretary
Deb began employment with the bank in 1971 and has served in many roles and worked in several departments within the organization. She holds a diploma from the Graduate School of Banking at University of Wisconsin. Deb is a native of Bellevue and provides a wealth of knowledge and history to the bank. As Corporate Secretary, she is the liaison with the stock transfer agent for the holding company.
Dave Jarvis
SVP/ Chief Technology Officer
MARKET MAKER
The shares of First Bancshares, Inc are traded under the ticker symbol FIBH on the OTCQB.
D.A. Davidson & Co.
Community Bank & Wealth Management Group
Toll Free Phone# 1-800-394-9230
Nicolas P. Bicking
Senior Vice President
Financial Advisor
Thomas L. Dooley III
Senior Vice President
Financial Advisor
TRANSFER AGENT & DIVIDEND REINVESTMENT PROGRAM MANAGER
American Stock Transfer & Trust Company, LLC
6201 15th Avenue
Brooklyn, NY 11219
Toll Free: 800-937-5449
Tel: 718-921-8114
Fax: 718-921-8367
Financial Data July 25, 2024 - Condensed Statement of Operations
| Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | |
|---|---|---|
| Interest Income | $7,083,456 | $6,121,000 |
| Interest Expense | ($2,897,239) | ($2,209,908) |
| Net Interest Income | $4,186,217 | $3,911,092 |
| Provision for Loan Losses | 0 | 0 |
| Net Interest Income after Provision | $4,186,217 | $3,911,092 |
| Non-Interest Income | $649,307 | $727,213 |
| Non-Interest Expense | ($4,152,860) | ($4,071,013) |
| Income Before Federal Income Tax | $682,664 | $567,292 |
| Federal Income Tax Recovery (Expense) | ($74,504) | ($36,901) |
| Net Income | $608,160 | $$530,391 |
Financial Data July 25, 2024 - Per Share Data
| Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | |
|---|---|---|
| Net Income (Annualized) | $2.26 | $1.97 |
| Cash Dividends (Annualized) | $1.32 | $1.32 |
| Book Value (Period End) | $31.16 | $28.99 |
Financial Data July 25, 2024-Financial Ratios
| Six months Ended June 30, 2024 | Six Months Ended June 30, 2023 | |
|---|---|---|
| Return on Average Assets (Annualized) | 0.04% | 0.36% |
| Return on Average Equity (Annualized) | 7.55% | 6.73% |
| Net Interest Margin (Annualized) | 3.47% | 3.10% |
| Loans to Deposits (Period End) | 70.46% | 65.78% |
| Allowance for Loan Losses to Total Loans (Period End) | 1.24% | 4.15% |
Financial Data July 25, 2024-Period End Balances
| June 30, 2024 | June 30, 2023 | |
|---|---|---|
| Assets | $292,095,472 | $294,334,370 |
| Loans | $181,361,231 | $171,491,146 |
| Deposits | $256,914,274 | $259,194,521 |
| Stockholder's Equity | $16,754,110 | $15,584,533 |
| Common Shares Outstanding | $537,619 | $537,619 |
| Preferred Shares Outstanding | 0 | 0 |
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