First Bancshares, Inc., Parent of Centier Bank Issues $50 Million of Senior Unsecured Notes in Private Placement Offering

MERRILLVILLE, Ind., June 29, 2017 /PRNewswire/ -- First Bancshares, Inc. (the "Company"), the parent holding company of Centier Bank (the "Bank"), today announced that it has sold $50 million in aggregate principal amount of senior unsecured notes (the "Notes") in a private placement offering to certain institutional investors.  The Notes were issued on June 29, 2017, bear a fixed rate of interest of 4.25% per annum, payable semi-annually, and mature on July 1, 2022. The Company intends to use the net proceeds from the offering to repay certain existing indebtedness as well as for general corporate purposes.  The Notes issued by the Company received a rating of "A-" from Egan-Jones Rating Company. Centier Bank received a rating of "A" from Egan-Jones.

"We are very pleased with this transaction and humbled by the strong response we received from the debt investor community," said Scott May, Senior Partner and Chief Financial Officer of Centier Bank. "At Centier, our success is a testament to the integrity and dedication of all of our associates - we are proud that those values have resulted in a transaction that we can hold up to the business community as a true example of partnership and success."

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful.  The above referenced securities offered and sold by the Company have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold absent registration or an exemption from registration. The Notes are not deposits or savings accounts or other obligations of the Bank and are not and will not be insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency or instrumentality.

Brean Capital, LLC served as placement agent and Vedder Price PC served as the Company's legal counsel in the private offering.

About First Bancshares, Inc. and Centier Bank

Headquartered in Merrillville, Indiana, First Bancshares, Inc. is the parent holding company of Centier Bank.  Founded in 1895, Centier Bank is the largest, private, family-owned bank in Indiana. Centier offers a full range of financial services with 56 offices in 26 communities across Indiana. In 2016, the Bank supported more than 600 charitable organizations and continues to place a strong emphasis on philanthropy and giving back to the community. Centier has gained a positive reputation as a community bank with an award-winning corporate culture and best practices for employers throughout the nation. With over 800 associates, Centier's workplace attitude stems from a value-based work ethic which includes a promise to maintain personalized service through caring, loyalty, integrity, friendship and fun. These corporate values have fostered a positive work experience for its employees and in turn, a new standard of excellence for the banking industry.  Centier has been named "Best Bank for Business" for the past 15 years by the Northwest Indiana Business Quarterly publication and was listed on the Indiana Chamber's "Best Places to Work" list for the past 11 years.  

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SOURCE Centier Bank