SUMMARY OF ORGANIZATION

6 Months Ended

Jun. 30, 2023

SUMMARY OF ORGANIZATION

SUMMARY OF ORGANIZATION

SUMMARY OF ORGANIZATION

The First Bancshares, Inc., Hattiesburg, Mississippi (the “Company”), was incorporated June 23, 1995, under the laws of the State of Mississippi for the purpose of operating as a bank holding company. The Company’s primary asset is its interest in its wholly-owned subsidiary, The First Bank (the “Bank” or “The First”).

At June 30, 2023, the Company had approximately $7.862 billion in assets, $4.958 billion in net loans held for investment (“LHFI”), $6.492 billion in deposits, and $899.4 million in shareholders' equity. For the six months ended June 30, 2023, the Company reported net income of $40.1 million.

On February 24, 2023, the Company paid a cash dividend in the amount of $0.21 per share to shareholders of record as of the close of business on February 8, 2023. On May 24, 2023, the Company paid a cash dividend of $0.22 per share to shareholders of record as of the close of business on May 8, 2023.