SUMMARY OF ORGANIZATION

9 Months Ended

Sep. 30, 2013

NOTE B — 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, A National Banking Association (the “Bank”).

At September 30, 2013, the Company had approximately $951.9 million in assets, $566.8 million in net loans, $814.0 million in deposits, and $83.8 million in stockholders' equity. For the nine months ended September 30, 2013, the Company reported net income of $3.1 million ($2.8 million applicable to common stockholders).

In the first, second, and third quarters of 2013, the Company declared and paid a dividend of $.0375 per common share.