First Bancshares in Hattiesburg, Miss., has filed documents to raise up to $20 million.
The $1.1 billion-asset company filed a shelf registration with the Securities and Exchange Commission late last week that will allow it to sell securities and issue debt. The filing did not provide a timeline for raising capital.
First Bancshares said in the filing that it plans to use any net proceeds to finance potential acquisitions, diversify its offerings, and repay or reduce existing debt. The company bought Alabama's BCB Holdings and exited the Troubled Asset Relief Program last year.