Welcome to our dedicated page for Fentura Finl news (Ticker: FETM), a resource for investors and traders seeking the latest updates and insights on Fentura Finl stock.
This page provides a historical news archive for Fentura Financial, Inc. (OTCQX: FETM), the former bank holding company for The State Bank in Michigan. The articles collected here document Fentura’s financial performance, strategic decisions, and its ultimate merger into ChoiceOne Financial Services, Inc.
News items include Fentura’s quarterly and annual earnings announcements, which detail net income, net interest income, credit loss expense or reversal, noninterest income, noninterest expenses, and key performance ratios such as return on average assets, return on average shareholders’ equity, efficiency ratio, and net interest margin. These releases also discuss trends in total assets, deposits, gross loans, borrowed funds, and shareholders’ equity, offering insight into the company’s balance sheet and asset quality over time.
The archive also contains dividend announcements for FETM common stock and management commentary on operating conditions, including interest rate environments, asset quality, loan growth, cost of funds, and balance sheet strategies. These disclosures describe how Fentura and The State Bank approached challenges in the banking environment while serving small business, commercial, and retail customers in their Michigan markets.
A significant portion of the news flow relates to the merger between Fentura Financial, Inc. and ChoiceOne Financial Services, Inc. Items include the initial announcement of the definitive merger agreement, shareholder approvals, regulatory approval from the Board of Governors of the Federal Reserve System, and the completion of the merger effective March 1, 2025. These articles explain that Fentura merged with and into ChoiceOne, with the combined organization operating under the ChoiceOne name and brand.
Investors, researchers, and community members can use this news history to understand Fentura’s role as the holding company for The State Bank, its financial trajectory, and the context leading up to its combination with ChoiceOne. For current developments after the merger, public disclosures direct attention to ChoiceOne Financial Services, Inc. (COFS).
Fentura Financial, Inc. (OTCQX: FETM) announced a regular dividend of $0.09 per share for shareholders of record as of August 8, 2022, payable on August 15, 2022. Established in 1987, Fentura is the holding company for The State Bank, a 5-Star Bauer Financial rated bank based in Fenton, Michigan. The bank operates 19 branches and offers various financial services, including commercial loans, personal banking, and wealth management. Fentura has been recognized among the Top 50 performing stocks on the OTCQX exchange.
Fentura Financial, Inc. (OTCQX: FETM) reported Q1 2022 net income of $3,084, a decrease from $4,656 in Q1 2021, marking a 33.76% decline. Total loans increased by $39,259, reaching $1,139,351, driven by robust commercial lending. However, noninterest income fell 27.54% to $2,792, largely due to reduced gains on loan sales amid rising interest rates. Earnings per share dropped to $0.69, with a tangible book value of $24.97. The efficiency ratio worsened to 70.04%, indicating rising operational costs. Despite challenges, loan quality remained strong, with nonperforming loans at 0.20%.
Fentura Financial, Inc. (OTCQX: FETM) has declared a regular dividend of $0.09 per share for shareholders of record as of May 9, 2022, with payment scheduled for May 16, 2022. This reflects the company's commitment to returning value to investors.
Fentura Financial operates The State Bank, a 5-Star Bauer Financial rated bank with 19 branches across Michigan, providing a range of financial services including commercial and retail banking.
Fentura Financial (FETM) announced strong quarterly and annual results for the periods ending December 31, 2021. Net income reached $3,342 for Q4 and $16,579 for the year, driving a return on assets of 1.26%. The acquisition of Farmers State Bank in December 2021 expanded their asset base by $106,761. Key metrics include a net interest margin of 3.58% and an efficiency ratio of 64.65%. The bank reported solid loan growth and asset quality, reinforcing its foundation for future performance.
Fentura Financial, Inc. (OTCQX: FETM) announced a $0.09 per share dividend for shareholders of record as of February 7, 2022, payable on February 14, 2022. The company, recognized among the Top 50 performing stocks on OTCQX, operates The State Bank, a full-service bank with a 5-Star Bauer Financial rating. Founded in 1987, it serves multiple counties in Michigan through 20 branches, offering various financial products including loans and wealth management services.
Fentura Financial, Inc. (OTCQX: FETM) has successfully completed its acquisition of Farmers State Bank of Munith, approved by both companies' boards in June. This strategic move expands The State Bank's assets to approximately $1.4 billion, with $1.1 billion in loans and $1.2 billion in deposits, and increases its branch network to 20. President and CEO Ronald L. Justice emphasizes the benefits of enhanced community banking and product offerings for both organizations. Integration of systems is expected to be completed in Q1 2022, allowing for improved shareholder value.
Fentura Financial, Inc. (OTCQX: FETM) has announced an amendment to its stock repurchase program, increasing the budget from $5 million to $10 million. Previously, the company repurchased $4.6 million of its common stock. The buyback will occur through open market purchases and is subject to market conditions and regulations. The repurchase aims to enhance shareholder value and may be adjusted or discontinued at any time. The funds for this initiative will come from the company's available cash reserves.
Fentura Financial (OTCQX: FETM) reported Q3 2021 net income of $3,855, with nine-month net income at $13,237, reflecting a 3.97% increase year-over-year. Strong commercial lending relationships led to gross loan growth of $59,029 since June. Despite a decline in residential mortgages, overall closings remain historically high. Asset quality is promising, with 0.82% nonperforming loans. The bank's tangible book value reached $26.53. However, noninterest income dropped by 26.60% year-over-year. Management expresses optimism about future growth.
Fentura Financial, Inc. (OTCQX: FETM) has declared a regular dividend of $0.08 per share for shareholders of record as of November 8, 2021, with payment scheduled for November 15, 2021. The company, formed in 1987, is the holding entity for The State Bank, rated as a 5-Star Bauer Financial institution, operating 17 branches across Michigan. Fentura Financial was recognized as one of the Best 50 performing stocks on the OTCQX exchange in 2018. The press release also includes caution regarding forward-looking statements related to growth in earning assets and net income.
Fentura Financial, Inc. (FETM) reported solid quarterly results, with a net income of $4,726 for Q2 and $9,382 year-to-date as of June 30, 2021, marking a 26.87% increase in net income compared to the prior year. Total loans increased by $45,629 in the quarter and $62,446 year-to-date. The company's net interest income rose to $10,896 for the quarter, bolstered by strong residential mortgage activity and a solid net interest margin. However, the ongoing COVID-19 pandemic presents uncertainties in market conditions.