SUMMARY OF ORGANIZATION

3 Months Ended

Mar. 31, 2015

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 March 31, 2015, the Company had approximately $1.1 billion in assets, $712.1 million in net loans, $984.6 million in deposits, and $98.8 million in stockholders' equity. For the three months ended March 31, 2015, the Company reported net income of $2.0 million ($1.9 million applicable to common stockholders).

In the first quarter of 2015, the Company declared and paid a dividend of $.0375 per common share.