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Table of Contents U.S. SECURITIES AND EXCHANGE COMMISSION WASHINGTON , D.C. 20549 FORM 10 - K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31 , 2020 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to THE FIRST BANCSHARES , INC . Mississippi ( State or Other Jurisdiction of Incorporation or Organization ) Commission file no . 333-94288 ( Exact name of registrant as specified in its charter ) 6480 U.S. Hwy . 98 West , Suite A Hattiesburg , Mississippi ( Address of principal executive offices ) Issuer's telephone number : Securities registered under Section 12 ( b ) of the Exchange Act : ( 601 ) 268-8998 Title of Each Class Common Stock , $ 1.00 par value Securities registered pursuant to Section 12 ( g ) of the Act : None Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in rule 405 of the Securities Act . Yes No Trading Symbol ( s ) FBMS Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15 ( d ) of the Act . Yes □ No x 64-0862173 ( I.R.S. Employer Identification Number ) 39402 ( Zip Code ) Large accelerated filer Accelerated filer Non - accelerated filer Smaller reporting company Emerging growth company Name of Each Exchange on Which Registered The Nasdaq Stock Market LLC Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Exchange Act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirements for the past 90 days . Yes No Indicate by check mark whether the registrant has submitted electronically and every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S - T ( § 232.405 of this chapter ) during the preceding 12 months ( or for such shorter period that the registrant was required to submit such files ) . Yes No □ Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , a smaller reporting company , or emerging growth company . See the definitions of " large accelerated filer , " " accelerated filer , " " non - accelerated filer , " " smaller reporting company , " and " emerging growth company " in Rule 12b - 2 of the Exchange Act ( Check one ) : If an emerging growth company , indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 ( a ) of the Exchange Act . Indicate by check mark whether the registrant is a shell company ( as defined in Rule 12b - 2 of the Act ) . Yes No Based on the price at which the registrant's Common Stock was last sold on June 30 , 2020 , the last business day of the registrant's most recently completed second fiscal quarter , the aggregate market value of the registrant's Common Stock held by non - affiliates of the registrant was $ 458.3 million . On March 3 , 2021 , the registrant had outstanding 21,018,319 shares of common stock . DOCUMENTS INCORPORATED BY REFERENCE Certain portions of the Registrant's proxy statement to be filed for the Annual Meeting of Shareholders to be held May 20 , 2021 are incorporated by reference into Part III of this Annual Report on Form 10 - K . Other than those portions of the proxy statement specifically incorporated by reference pursuant to Items 10-14 of Part III hereof , no other portions of the proxy statement shall be deemed so incorporated .