The First Bancshares Acquires Beach Bancorp, Inc.

April 26, 2022

The First Bancshares, Inc. (The First) entered into and completed a definitive agreement to acquire Beach Bancorp, Inc., the parent of Beach Bank, in an all‑stock transaction valued at approximately $116.7 million based on First Bancshares’ April 25, 2022 closing price. Beach Bank — which operates seven branches across the Florida panhandle and Tampa markets — was merged into The First Bank, expanding The First’s footprint in Northwest Florida and providing an entry into the Tampa market.

Buyers
The First Bancshares, Inc.
Targets
Beach Bancorp, Inc.
Sellers
Holders of Beach Bancorp common and preferred stock
Location
Florida, United States
Transaction Type
Buyout

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