SUBSEQUENT EVENTS/OTHER

9 Months Ended

Sep. 30, 2018

NOTE 12 – SUBSEQUENT EVENTS/OTHER

Subsequent events have been evaluated by management through the date the financial statements were issued.

FPB Financial Corp.

On November 6, 2018, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with FPB Financial Corp., a Louisiana corporation (“FPB”), whereby FPB will be merged with and into the Company. Pursuant to and simultaneously with entering into the Merger Agreement, The First, and FPB’s wholly owned subsidiary bank, Florida Parishes Bank, entered into a Plan of Bank Merger whereby Florida Parishes Bank will be merged with and into The First immediately following the merger of FPB with and into the Company with a purchase price of

approximately $

86.1

million. At September 30, 2018, FPB had total assets of

approximately $

382.7

million.

FMB Banking Corporation

On November 1, 2018, the Company completed its acquisition of FMB Banking Corporation (“FMB”), and immediately thereafter merged its wholly-owned subsidiary, Farmers & Merchants Bank, with and into The First. The Company paid a total consideration of approximately $79.5 million to the former FMB shareholders including 1,763,036 shares of the Company’s common stock and approximately $16.0 million in cash. At September 30, 2018, FMB had $481.2 million in total assets.

Expenses associated with the acquisition were $92 thousand for the three month period ended September 30, 2018. These costs included charges associated with due diligence, which have been expensed as incurred.