SUMMARY OF ORGANIZATION

9 Months Ended

Sep. 30, 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 September 30, 2015, the Company had approximately $1.1 billion in assets, $740.9 million in net loans, $963.8 million in deposits, and $101.6 million in stockholders' equity. For the nine months ended September 30, 2015, the Company reported net income of $6.4 million ($6.2 million applicable to common stockholders).

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