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First Bancshares, Inc. Announces Second Quarter Fiscal 2013 Results

The foregoing list of factors is not exclusive. The Company does not undertake, and expressly disclaims any intent or obligation, to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.

First Bancshares, Inc. and Subsidiaries
Financial Highlights
(In thousands, except per share amounts)
   
  Quarter Ended December 31, Six Months Ended December 31,
  2012 2011 2012 2011
Operating Data:        
         
Total interest income  $ 1,512  $ 1,662  $ 3,092  $ 3,498
Total interest expense 313 382 642 786
Net interest income 1,199 1,280 2,450 2,712
Provision for loan losses 0 18 0 74
Net interest income (loss) after provision for loan losses  1,199  1,262  2,450  2,638
Gain / (loss) on sale of investments  0  (18)  264  96
Non-interest income (loss)  244  (328)  282  (134)
Non-interest expense  1,841  1,493  3,345  3,465
Income (loss) before income tax  (398)  (577)  (349)  (865)
Income tax expense (benefit) 0 85 0 85
Net loss  $ (398)  $ (662)  $ (349)  $ (950)
Net loss per share-basic  $ (0.26)  $ (0.43)  $ (0.23)  $ (0.61)
Net loss per share-diluted  $ (0.26)  $ (0.43)  $ (0.23)  $ (0.61)
         
Financial Condition Data: At December 31, 2012 At  June 30, 2012    
         
Total assets  $ 187,227  $ 193,417    
Loans receivable, net 94,131 95,521    
Cash and cash equivalents 6,229 12,658    
Investment securities 74,320 73,845    
Deposits 161,692 165,858    
Borrowed funds 8,915 9,846    
Stockholders' equity 15,918 16,335    
Book value per share  $ 10.26  $ 10.53    
CONTACT: R. Bradley Weaver, President and CEO - (417) 926-5151

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