The First Bancshares, the holding company of The First Bank, completed the acquisition of Heritage Southeast Bank, an independent community bank, for $207m. "Heritage Southeast Bank is a true community bank with an experienced, well respected team of local bankers invested in the communities they serve. Culturally we are aligned and focused on growing our company by providing excellent service and building long term relationships with our clients. We are thrilled to be partnering with the team at Heritage Southeast Bank as we continue to create value for our stakeholders,” M. Ray Cole, The First Bancshares President and CEO. On December 30, 2022, First Bancshares and HSBI's shareholders approved the acquisition.