Exhibit 99.1

The First Bancshares, Inc. Reported Increased Earnings and Quarterly Dividend


    HATTIESBURG, Miss.--(BUSINESS WIRE)--Aug. 1, 2007--The First
Bancshares, Inc. (NASDAQGS: FBMS), holding company for The First, A
National Banking Association, (www.thefirstbank.com) today reported
increased earnings for the second quarter which ended June 30, 2007.
The company also announced a $.075 per share quarterly dividend. The
record date of the dividend will be August 8, 2007 with a payable date
of August 20, 2007.

    Earnings for the three months ended June 30, 2007 were $1,112,000,
a 12.5% increase from earnings of $988,000 in the comparable quarter
in 2006. Earnings for the second quarter of 2007 were up $401,000 or
56.4%, from the first quarter of 2007. Six month earnings for the
period ended June 30, 2007 were $1,823,000 compared to $1,748,000 for
the comparable period in 2006, an increase of 4.3%.

    David E. Johnson, CEO stated, "Our earnings reflect our strategy
of building our business on a profitable community bank model, robust
regional economics and strong leadership. We have been able to
increase our earnings and expand our footprint in southern Mississippi
which is rebuilding since the hurricane in 2005."

    The following are key achievements in the last six months ended
June 30, 2007:

    --  Total loans increased 21.1% to $348,566 with a 5.4% increase
        in commercial loans and a 6.5% in consumer loans.

    --  Total deposits increased 14.7% to $403,583 with an 8.1%
        increase in non-interest bearing deposits.

    --  Net interest income increased 30.6%.

    --  Return on Average Equity was 11.13%

    --  First National Bank of Wiggins, acquired in October 2006,
        increased their deposits 14.7% since year end.

    --  Company opened a loan production office in Gulfport,
        Mississippi and has started ground work for the temporary
        facility on the new property. The Bay St. Louis office moved
        to their new permanent location.

    Deposits

    Total deposits increased to $403,583 in the period ended June 30,
2007, a 14.7% increase over the period ended December 31, 2006.
Deposits grew 11.0% over the comparable six month period in 2006. This
growth rate is attributed to superior performance in all of our
branches in attracting new deposits and continued growth in our newest
locations in southern Mississippi.

    Loans

    Total loans increased 21.1% to $348,566 for the six month period
ended June 30, 2007 compared to the period ended December 31, 2006.
Loans increased 20.1% over the comparable six month period in 2006.
The Company is continuing to experience growth in all categories of
the loan portfolio.

    Net Income and Earnings Per Share

    Net income was $1,112,000 and $1,823,000 for the three and six
months ended June 30, 2007, increases of 12.5% and 4.3% over
comparable periods in 2006. Net Interest income was increased 30.6%
over the last six months and non-interest income increased 4.6% in
that same period. Non-interest income was $707,000 in the six month
period ending June 30, 2007 compared to $676,000 which included a gain
on sale of properties of $224,000. The Company has maintained a net
interest margin of 4.22% in a challenging interest rate environment.

    Fully-diluted earnings per share for the three month period ended
June 30, 2007 amounted to $0.36 per share a 7.7% decrease from the
comparable period in 2006 of $0.39. Fully-diluted earnings per share
amounted to $0.60 for the six month period ended June 30, 2007, a
13.0% decrease from the comparable period in 2006 of $0.69. The
Company increased its outstanding shares by 609,087 in 2006. These
additional shares and a gain on the sale of property account for a
$0.20 decrease in earnings per share compared to the same period in
2006.

    --  A reduction of $0.10 was due to 609,087 additional shares of
        stock issued since the second quarter of 2006. New shares of
        365,000 were issued @ 22.50 per share for a capital infusion
        of $8.2 million and 109,181 shares were issued in conjunction
        with the merger of First National Bank of Wiggins and the
        balance was issued due to the exercise of outstanding stock
        option.

    --  A $0.10 decrease is attributable to a gain on the sale of
        property which was recognized during the second quarter of
        2006. This event increased earnings for the comparable period
        in 2006.

    According to David E. Johnson, CEO, "Growth in net income is
primarily due to the increased maturity of our branches and our strong
branch leadership. We have been able to maintain our profitability and
expand our branch network."

    Dividends

    The First has consistently increased dividends. In 2004 the annual
dividend was $0.08, $0.19 in 2005 and $0.16 in 2006. The Company has
recently instituted a policy of quarterly dividends and the current
quarterly dividend is $0.075 with $0.15 paid in the first six months
of 2007.

    David Johnson, CEO stated, "We are proud of our progress in this
last quarter and six months and we believe that for a bank that was
established in 1995 that we are rapidly growing with market share and
profitability in southern Mississippi. We have successfully recruited
talented bankers to lead in our branches and we are in the part of
Mississippi that is rebuilding and becoming more prosperous."

    The First Bancshares, Inc. headquartered in Hattiesburg,
Mississippi is the holding company for The First, a National Banking
Association. The First operates ten branches in southern Mississippi.
The First Bancshares has $474,000 million in assets and has 2,987,717
shares outstanding traded on the NASDAQ Global Market with the symbol
of FBMS. Stock price at June 29th was $24.99 above mid-range for the
Company's 52-week trading range. For more information go to
www.thefirstbank.com.

    Forward-Looking Statement

    This news release contains statements regarding the projected
performance of The First Bancshares, Inc. and it 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 Web site,
http://www.sec.gov.


                      THE FIRST BANCSHARES, INC.
                         FINANCIAL HIGHLIGHTS
                             (Unaudited)

($ amounts in thousands except earnings per share)

                                                 For the three months
                                                    ended June 30,

                                                   2007        2006

Interest income                                      8,219       5,548
Interest expense                                     3,603       2,014
Net interest income                                  4,616       3,534
Provision for loan losses                              320         209
Net interest income after provision for loan
 losses                                              4,296       3,325
Non-interest income                                    707         676
Non-interest expense                                 3,550       2,662
Income before income taxes                           1,453       1,339
Income taxes                                           341         351
Net income                                      $    1,112  $      988

Basic:
Earnings per share                              $      .37  $      .42

Diluted:
Earnings per share                              $      .36  $      .39

Dividends per share                             $     .075  $        -


                                     June 30,  December 31,  June 30,
                                       2007        2006        2006

Total assets                           473,598      417,769    329,229
Cash and due from banks                 12,093       10,415     13,510
Federal funds sold                          46        8,772        365
Investment securities                   91,560       91,810     58,754
Loans, net of unearned interest        348,566      287,875    240,652
Deposits-interest bearing              340,191      293,070    213,495
Deposits-non interest bearing           63,392       58,652     55,142
Total deposits                         403,583      351,722    268,637
Borrowed funds                          31,865       20,827     28,831
Subordinated debentures                  4,124       11,341     11,217
Stockholder's equity                    33,136       32,365     19,459
Book value (per share)              $    11.09 $      11.32 $     8.18
Total shares outstanding             2,987,717    2,858,408  2,379,630

    CONTACT: The First Bancshares, Inc.
             David Johnson, CEO
             601-268-8998
             or
             DeeDee Lowery, CFO
             601-268-8998