reduce opacity and erase some of image with soft erase brush
step 5 of 8
Add small thin shadow with black soft brush
step 6 of 8
Add black box with rectangle tool and fill black
step 7 of 8
Add type
step 8 of 8
Drop shadow:
Make canvas larger about 2 inches all around.
In a separate layer make a white box and use drop shadow in layer mode. Place this layer under main layer. You can control the shadow this way.