The Merger of First Bancshares: A New Chapter for Shareholders

Investors tracking The First Bancshares, Inc. (FBMS) will find its independent story has concluded. The company ceased to exist as a separate publicly-traded entity following its full acquisition by Renasant Corporation (RNST). This merger was finalized on April 1, 2025, immediately terminating the stock's standalone listing on the New York Stock Exchange.

The path to this consolidation began on July 29, 2024, when Renasant Corporation publicly announced a definitive agreement to acquire The First Bancshares. Structured as an all-stock transaction, the deal carried an approximate value of $1.2 billion, based on Renasant's share price as of July 26, 2024. Under the terms, each share of First Bancshares common stock was converted into one share of Renasant common stock.

Following unanimous approval from the boards of both institutions, shareholders gave their consent during special meetings held on October 22, 2024. The final regulatory approvals were secured on March 17, 2025, clearing the way for the April 1 completion date.

Should investors sell immediately? Or is it worth buying First Bancshares /MS?

Implications for Former FBMS Investors

Shareholders who held FBMS equity at the time of the merger’s close have seen their positions automatically converted into holdings of Renasant stock. Consequently, any separate financial analysis or future earnings reports for First Bancshares are no longer relevant. Market attention now shifts entirely to the performance of the combined banking group.

The merged entity boasts a substantial footprint, with over $26 billion in total assets and a network of more than 250 branches across the Southeastern United States. The full integration of operational systems is projected for early August 2025, marking the final step in uniting the two organizations. For former FBMS investors, their investment future is now intrinsically linked to the prospects of the expanded Renasant Corporation.