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First Farmers & Merchants Corp - FFMH STOCK NEWS

Welcome to our dedicated news page for First Farmers & Merchants (Ticker: FFMH), a resource for investors and traders seeking the latest updates and insights on First Farmers & Merchants.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect First Farmers & Merchants's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of First Farmers & Merchants's position in the market.

News
First Farmers and Merchants Corporation Reports First Quarter Results
Rhea-AI Summary
First Farmers and Merchants , the holding company for First Farmers and Merchants Bank, reported its first-quarter 2024 results with positive growth in net interest income and non-interest income. Key highlights include a 16% increase in book value per share to $29.92, sequential quarterly improvement in net interest margin, and continued loan demand. However, net income decreased by 14.8% to $3.4 million, and adjusted net income declined by 23.9% to $3.4 million. Total loans decreased from the previous quarter, while net-interest income decreased by 13.1%. Provision for credit losses expense increased to $65,000. Non-performing assets declined, and capital management initiatives included stock repurchases.
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First Farmers and Merchants Corporation Holds Annual Meeting of Shareholders
Rhea-AI Summary
First Farmers and Merchants (FFMH) recently held its Annual Meeting of Shareholders where shareholders elected a slate of 10 directors and ratified the selection of Plante & Moran, PLLC as the independent registered public accounting firm. Brian K. Williams, Chairman and CEO, highlighted record loans, strong growth in book value per share, and the second-best earnings per share performance in the company's history.
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First Farmers and Merchants Corporation Declares Quarterly Cash Dividend of $0.24 Per Share
Rhea-AI Summary
First Farmers and Merchants (FFMH) declares a quarterly cash dividend of $0.24 per share, a 4.3% increase from the previous year, payable on April 15, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
11.94%
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First Farmers and Merchants Corporation Reports 2023 Results
Rhea-AI Summary
First Farmers and Merchants Corporation (FFMH) reported record loans in 2023, with total loans surpassing $1 billion. Despite a challenging banking environment, the company saw strong growth in book value per share and recorded the third-best year of earnings in its history. However, net income and net income per share declined in 2023 compared to 2022. Total interest income increased by 18.6% to $60.8 million, while total interest expense increased by 406.2% to $16.4 million. Book value per share increased by 31.7% to $29.74 for the fourth quarter of 2023. First Farmers also increased total stock repurchases by 141.0% from 2022.
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6.04%
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Jill A. Giles Named Chief Financial Officer of First Farmers and Merchants Bank
Rhea-AI Summary
First Farmers and Merchants Corporation (FFMH) announced the appointment of Jill A. Giles as the Chief Financial Officer of First Farmers and Merchants Bank. Giles has been with the bank since 2013 and previously served as the Chief Accounting Officer. In her new role, she will oversee financial reporting, budgeting, tax and regulatory reporting, and shareholder services, among other responsibilities.
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Rory A. Mallard Named Chief Banking Officer
Rhea-AI Summary
First Farmers and Merchants Corporation (FFMH) announced the appointment of Rory A. Mallard as the Chief Banking Officer. Mallard has played a significant role in the bank's commercial lending and deposit growth and will now oversee the strategic direction, growth, delivery, profitability, and overall performance of the commercial, treasury management, and retail banking business lines.
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Robert E. (“Bobby”) Krimmel Named Chief Administrative Officer
Rhea-AI Summary
First Farmers and Merchants Corporation (FFMH) announced the appointment of Robert E. Krimmel as the Chief Administrative Officer while continuing as the Chief Financial Officer. Krimmel's new role will involve overseeing major support functions of the bank, strategic planning, regulatory compliance, and executive leadership.
Rhea-AI Impact
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-1.73%
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First Farmers and Merchants Corporation Declares Quarterly Cash Dividend of $0.24 Per Share
Rhea-AI Summary
First Farmers and Merchants Corporation (FFMH) announces a 4.3% increase in regular quarterly cash dividend to $0.24 per share
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Jennifer J. McConnell Joins First Farmers as Chief Credit Officer
Rhea-AI Summary
First Farmers and Merchants Corporation (FFMH) announced the appointment of Jennifer J. McConnell as Chief Credit Officer. McConnell brings 27 years of banking experience, including leadership in credit risk management, portfolio management, and relationship management. She joins from BankUnited, where she served as Executive Vice President, Managing Senior Credit Officer. Prior to that, she held senior roles at First Tennessee Bank, Fifth Third Bank, and Regions Bank. McConnell's appointment is expected to strengthen First Farmers' credit culture and business banking initiatives.
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First Farmers and Merchants Corporation Reports Third Quarter Results
Rhea-AI Summary
First Farmers and Merchants Corporation announces its results for the third quarter of 2023, reporting growth in loans and deposits. However, net income decreased due to higher interest costs. The company remains positive about its outlook for the future.
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0.2%
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First Farmers & Merchants Corp

OTC:FFMH

FFMH Rankings

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FFMH Stock Data

121.05M
3.60M
0.48%
Commercial Banking
Finance and Insurance
Link
United States
Columbia

About FFMH

mission: our mission is to be the leader in providing distinctive services and products that meet the financial needs and goals of customers in each of our communities. vision: first farmers & merchants bank strives to be the premier community bank in tennessee. we aspire to be recognized as the leading provider of high quality services and products that meet the financial needs of our customers. in order to accomplish this, we are guided by three commitments: to foster the well-being and growth of our employees; to promote the economic vitality of the communities in which we live; and to provide our shareholders with a profitable return on their investment without compromising the bank’s solid financial strength. core values: integrity customer focus teamwork community service initiative