First Bancshares 8K, 11-20-08
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
November 17, 2008
THE FIRST BANCSHARES, INC.
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(Exact name of registrant as specified in its charter)
MISSISSIPPI 33-94288 64-0862173
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(State or other jurisdiction of (Commission (IRS employer
incorporation) File Number) Identification No.)
6480 US Highway 98 West
Hattiesburg, Mississippi 39402
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (601) 268-8998
Not applicable
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(Registrant's former address of principal executive offices)
INFORMATION TO BE INCLUDED IN THE REPORT
Item 8.01 Other Events.
On November 17, 2008, The First Bancshares, Inc. announced the next step in its efforts
to cut expenses and redesign its business model to become more efficient and diversified. This step reduces its
workforce by thirteen positions, or approximately 7.8%, through elimination of certain job titles based on declining
growth rate and declining transaction levels. The vast majority of employees will not be impacted, and headcount
overall is expected to remain stable throughout the remainder of 2008. The First Bancshares, Inc. will reflect a
charge of $44 thousand (pre-tax) in the fourth quarter of 2008 associated with these force reductions.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: November 20, 2008
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THE FIRST BANCSHARES, INC.
By: /s/ Donna T. Lowery
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Name: Donna T. Lowery
Title: Chief Financial Officer