First Bancshares, Inc. Announces New Chairman and CEO

MOUNTAIN GROVE, Mo., Aug. 29, 2017 (GLOBE NEWSWIRE) -- First Bancshares, Inc. (OTCQB:FBSI), the holding company for First Home Bank and Stockmens Bank, in accordance with the terms of the Share Exchange Agreement between First Bancshares, Inc. and Stockmens Bank today announced that its Board of Directors has accepted the resignation of R. Bradley Weaver as Chairman and CEO and has appointed Robert M. Alexander as Chairman and Chief Executive Officer effective August 25, 2017. Mr. Weaver will remain as a board member of First Bancshares, Inc. as well as President of First Home Bank.

Mr. Alexander, who has been a shareholder of First Bancshares since 2007 and a board member since 2015 remarked, “The Directors and Employees of First Bancshares, Inc. are very grateful for Brad’s leadership since arriving here in 2011. He developed a team of committed bankers, met a stiff challenge and has done a great job positioning the bank for future success. I am looking forward to working with everyone in Missouri, Colorado and Nebraska to create a high performing institution.”

First Bancshares, Inc. is the holding company for First Home Bank, a FDIC insured bank chartered by the State of Missouri and Stockmens Bank, a FDIC insured bank chartered by the State of Colorado.

The Company and its wholly-owned subsidiaries, First Home Bank and Stockmens Bank, may from time to time make written or oral “forward-looking statements” in its reports to stockholders, and in other communications by the Company, which are made in good faith by the Company pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995.

These forward-looking statements include statements with respect to the Company’s beliefs, expectations, estimates and intentions that are subject to significant risks and uncertainties, and are subject to change based on various factors, some of which are beyond the Company’s control. Such statements address the following subjects: future operating results; customer growth and retention; loan and other product demand; earnings growth and expectations; new products and services; credit quality and adequacy of reserves; results of examinations by our bank regulators, technology, and our employees. The following factors, among others, could cause the Company’s financial performance to differ materially from the expectations, estimates and intentions expressed in such forward-looking statements: the strength of the United States economy in general and the strength of the local economies in which the Company conducts operations; the effects of, and changes in, trade, monetary, and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; inflation, interest rate, market, and monetary fluctuations; the timely development and acceptance of new products and services of the Company and the perceived overall value of these products and services by users; the impact of changes in financial services’ laws and regulations; technological changes; acquisitions; changes in consumer spending and savings habits; and the success of the Company at managing and collecting assets of borrowers in default and managing the risks of the foregoing.

The foregoing list of factors is not exclusive. The Company does not undertake, and expressly disclaims any intent or obligation, to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.

Contact: Robert M. Alexander, Chairman and CEO - (719) 955-2800

Source:First Bancshares, Inc.