Exhibit 99.1

The First Bancshares, Inc. Reports a 35.3% Increase in Year-Over-Year Results and Declares Quarterly Dividends

HATTIESBURG, Miss.--(BUSINESS WIRE)--January 28, 2016--The First Bancshares, Inc. (NASDAQ: FBMS), holding company for The First, A National Banking Association, (www.thefirstbank.com) today reported net earnings available to common shareholders of $8.5 million or $1.55 in fully diluted earnings per share for the year ended December 31, 2015, up from $1.19 in fully diluted earnings per share for the year ended December 31, 2014. This represents an increase of $2.2 million in earnings available to common shareholders, a 35.3% increase over fiscal year 2014 results. Net income available to common shareholders for the quarter ended December 31, 2015 was $2.3 million as compared to $2.0 million for the same period in 2014, a 16.3% increase. Net income available to common shareholders increased $132,000, a 6.2% increase during the fourth quarter of 2015 as compared to the third quarter of 2015. Diluted earnings for the fourth quarter of 2015 were $0.42 per common share, compared to $0.36 per common share reported for the fourth quarter of 2014 and $0.39 per common share reported for the third quarter of 2015.

M. Ray “Hoppy” Cole, President & Chief Executive Officer, commented, “2015 was an outstanding year for our Company. Net income available to common shareholders increased 35.3% during 2015, in a year without any major acquisitions. This significantly improved profitability is the result of our team’s focus on client service, on growing existing as well as establishing new relationships while maintaining a disciplined approach to asset quality and expense control. We are pleased with our progress and remain nimble and opportunistic in seeking opportunities to grow our business in the Gulf South region.”

Balance Sheet

Consolidated assets increased $7.2 million or 0.6% to $1.1 billion for the quarter ended December 31, 2015. Total loans were $773 million at December 31, 2015 as compared to $747 million at September 30, 2015 representing a 3.5% increase. Increased loan volume was spread across commercial and residential categories with commercial construction experiencing the largest growth. Fundings for commercial construction loans increased $13.4 million or 15.6% quarter over quarter.

Total deposits decreased $47.1 million or 4.9% to $916.7 million for the quarter ended December 31, 2015. This decrease reflects seasonal fluctuations in our public deposit portfolio. Total deposits adjusted for seasonal public fund changes increased $4.4 million or .61% for quarter ended December 31, 2015.

Asset Quality

Nonperforming assets totaled $10.9 million at December 31, 2015, a decrease of $1.6 million compared to $12.5 million at September 30, 2015. The ALLL/total loans ratio was 0.87% at December 31, 2015 and 0.90% at September 30, 2015. Including valuation accounting adjustments on acquired loans, the total valuation plus ALLL was 1.11% of loans at December 31, 2015. The ratio of annualized net charge-offs (recoveries) to total loans was (0.002%) for the quarter ended December 31, 2015 compared to (0.03%) for the quarter ended September 30, 2015. As noted in our first quarter 10-Q, the Company had been notified that a recovery of $941,000 was more likely than not expected during 2015. We received the first installment during the second quarter of 2015 which totaled $481,000 and the second installment during the third quarter of 2015 which totaled $241,000. The remaining balance of $219,000 is expected to be received in 2016.

Energy Loans

At December 31, 2015 the company had direct energy related loans of $20.9 million, representing 2.7% of the total loan portfolio. $20.3 million or 97% of the outstanding are secured by marine assets that operate in the Gulf of Mexico, which are under term contracts to major operators tied primarily to oil and gas production not exploration.

All direct energy related loans are performing and are not adversely classified based on both internal and external reviews completed during the fourth quarter of 2015.

Fourth Quarter 2015 vs. Fourth Quarter 2014 Earnings Comparison

Fourth quarter 2015 net earnings available to common shareholders totaled $2.3 million compared to $2.0 million for the fourth quarter of 2014. Revenues from consolidated operations increased $603,000 in quarterly comparison. Net interest income increased $742,000 in quarterly comparison as interest income earned on a higher volume of loans attributed to this overall increase. Noninterest income decreased $152,000 in quarterly comparison for the fourth quarter of 2015 as compared to the fourth quarter of 2014 consisting mainly of decreased mortgage income.

Fourth quarter 2015 noninterest expenses increased $224,000, or 2.8% as compared to fourth quarter 2014 which included acquisition charges of $29,000. Exclusive of the acquisition charges, the fourth quarter 2015 noninterest expenses increased $253,000 or 3.1% as compared to the same quarter in 2014 mainly consisting of increases in expenses associated with other real estate, computer/data processing and rewards checking accounts. The increase in expenses associated with computer/data processing is a reclassification from previously being included in occupancy expense. The expense associated with rewards checking accounts have been more than offset from increased service charges on these accounts.

Fully taxable-equivalent (“FTE”) net interest income totaled $9.8 million and $9.1 million for the fourth quarter of 2015 and 2014, respectively. The FTE net interest income increased $709,000 in prior year quarterly comparison primarily due to an increase in interest earned on loans. The purchase accounting adjustments had a difference of $8,000 on net interest income for the fourth quarter comparisons. Fourth quarter 2015 net interest margin of 3.81% includes 4 bps related to purchase accounting adjustments.

Investment securities totaled $255.0 million, or 22.3% of total assets at December 31, 2015, versus $270.2 million, or 24.7% of total assets at December 31, 2014. The average volume of investment securities decreased $20.6 million in prior year quarterly comparison. The average tax equivalent yield on investment securities increased 7 basis points, from 2.60% to 2.67%. The investment portfolio had a net unrealized gain of $1.6 million at December 31, 2015 as compared to $2.3 million at September 30, 2015.

The average yield on all earnings assets increased 4 basis points in prior year quarterly comparison, from 4.09% for the fourth quarter of 2014 to 4.13% for the fourth quarter of 2015 and this increase was enhanced by a decrease in average interest expense of 2 basis points from 0.41% for the fourth quarter of 2014 to 0.39% for the fourth quarter of 2015.

Fourth Quarter 2015 vs Third Quarter 2015 Earnings Comparison

In sequential-quarter comparison, net earnings available to common shareholders increased $132,000 to $2.3 million.

Noninterest income decreased $79,000 in sequential-quarter comparison mainly consisting of decreases in service charges on deposit accounts and mortgage income.

Noninterest expenses increased $298,000 in sequential-quarter comparison mainly consisting of increases in marketing, salaries and employee benefits as well as other non-interest expense. Salaries and employee benefits included year end related payments as well as payroll for The Mortgage Connection.

FTE net interest income increased $334,000 to $9.8 million from $9.5 million in sequential-quarter comparison. The $318,000 increase in loan income was not impacted by accretion related to purchase accounting adjustments.

The average yield on all earnings assets increased 3 basis points in sequential-quarter comparison, from 4.10% for the third quarter of 2015 to 4.13% for the fourth quarter of 2015. Increased average loan growth of $25.2 million contributed to the overall increase in the earning asset yield.

Year-Over-Year Earnings Comparison

For the year ended December 31, 2015 total loans increased $67.9 million, a growth rate of 9.6%. Portfolio mix remained relatively consistent year over year with broad based growth across portfolio segments. Total deposits for the year ended December 31, 2015 increased $23.9 million, a growth rate of 2.7%.

In year-over-year comparison, net earnings available to common shareholders increased $2.2 million, from $6.3 million at December 31, 2014 to $8.5 million at December 31, 2015, an increase of 35.3%.

Excluding non-operating income, increases in non-interest income consisted of a $341,000 increase in interchange fee income and an increase in service charges on deposit accounts of $191,000 which was partially offset by a decrease of $446,000 in mortgage banking fees. Excluding the non-operating expenses in 2014, the increase in non-interest expense primarily included increases of $1,075,000 in salaries and employee benefits with approximately $500,000 associated with the acquisition of Bay Bank and The Mortgage Connection.

In year-over-year comparison, FTE net interest income increased $3,484,000. Interest income on loans increased $3,944,000 which does not include purchase accounting adjustments on acquired loans.

Interest expense increased $234,000 in year-over-year comparison primarily due to increased interest-bearing liabilities.

Dividends

The Board of Directors of The First Bancshares, Inc. announced a cash dividend was declared in the amount of $0.0375 per share to be paid on its common stock on February 25, 2016 to shareholders of record as of the close of business on February 9, 2016.

About The First Bancshares, Inc.

The First Bancshares, Inc., headquartered in Hattiesburg, Mississippi, is the parent company of The First, A National Banking Association. Founded in 1996, the First has operations in south Mississippi, Louisiana and south Alabama. The Company’s stock is traded on NASDAQ Global Market under the symbol FBMS. Information is available on the Company’s website: www.thefirstbank.com.

Forward Looking Statements

This news release contains statements regarding the projected performance of The First Bancshares, Inc. and its subsidiary. These statements constitute forward-looking information within the meaning of the Private Securities Litigation Reform Act. Actual results may differ materially from the projections provided in this release since such projections involve significant known and unknown risks and uncertainties. Factors that might cause such differences include, but are not limited to: competitive pressures among financial institutions increasing significantly; economic conditions, either nationally or locally, in areas in which the Company conducts operations being less favorable than expected; and legislation or regulatory changes which adversely affect the ability of the combined Company to conduct business combinations or new operations. The Company disclaims any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. Further information on The First Bancshares, Inc. is available in its filings with the Securities and Exchange Commission, available at the SEC’s website, http://www.sec.gov.

Certain financial information included in the earnings release and the associated Condensed Consolidated Financial Information (unaudited) is determined by methods other than in accordance with GAAP.

We use non-GAAP measures because we believe they are useful for evaluating our financial condition with a meaningful measure for assessing our financial condition as well as comparison to financial results for prior periods. These results should not be viewed as a substitute for results determined in accordance with GAAP, and are necessarily comparable to non-GAAP performance measures that other companies may use.

CONTACT:
The First Bancshares, Inc.
M. Ray “Hoppy” Cole
Chief Executive Officer
or
Dee Dee Lowery, 601-268-8998
Chief Financial Officer