Morris State Bancshares Announces Quarterly Earnings and Declares Second Quarter Dividend

April 27, 2023

DUBLIN, Ga., April 27, 2023 (GLOBE NEWSWIRE) — Morris State Bancshares, Inc. (OTCQX: MBLU) (the “Company”), the parent of Morris Bank, today announced net income of $4.1 million for the quarter ending March 31, 2023, representing a decrease of $2.5 million, or 38.23%, compared to net income of $6.6 million for the quarter ended December 31, 2022. Lower quarter over quarter net earnings were a result of higher deposit costs, higher noninterest expense, and higher tax provisioning.

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