Welcome to our dedicated page for First Farmers news (Ticker: FFMH), a resource for investors and traders seeking the latest updates and insights on First Farmers stock.
First Farmers and Merchants Corporation (FFMH) is the holding company for First Farmers and Merchants Bank, a community bank serving the Middle Tennessee area through 22 offices in seven counties. News about FFMH often centers on its commercial banking activities, earnings performance, capital management, and shareholder returns.
Regular news releases provide detailed quarterly and annual financial results, including net income, net interest income, net interest margin, loan and deposit trends, and asset quality metrics. Management commentary frequently explains how changes in loan demand, funding mix, and interest rates affect performance, with particular focus on core deposits, brokered deposits, and the payoff of borrowings.
FFMH news also highlights decisions by the Board of Directors on quarterly cash dividends and stock repurchase programs. The company has reported multiple dividend increases compared with prior-year periods and has described the extension and execution of its share repurchase authorization. These announcements offer insight into how the company approaches capital allocation and shareholder returns.
Another recurring theme in FFMH coverage is the performance of its wealth management and trust services business, which the company reports as a long-standing source of non-interest income with administered trust assets in the billions of dollars. Updates may also include information on strategic initiatives, such as investments in digital platforms, enhancements to mortgage banking and small business banking, and key leadership appointments.
Investors and observers can use the FFMH news feed to follow trends in earnings, balance sheet strategy, asset quality, and corporate actions over time. Because the company provides granular commentary and tables with each earnings release, the news stream offers context for understanding how management responds to economic conditions and market dynamics in its Middle Tennessee footprint.
First Farmers and Merchants (OTC Pink: FFMH) has announced a 12.5% increase in its regular quarterly cash dividend. The new dividend of $0.27 per share, up from $0.24, will be paid on October 21, 2024, to shareholders of record as of October 7, 2024.
Brian K. Williams, Chairman and CEO of First Farmers, stated that this increase reflects the company's positive outlook and continued growth opportunities. He emphasized that the higher dividend demonstrates confidence in the company's trajectory and commitment to building long-term shareholder value. Williams also noted that First Farmers has strong fundamentals and has positioned its balance sheet to deliver improving net interest income in the coming quarters.
First Farmers and Merchants (OTC Pink: FFMH) reported second quarter 2024 results with mixed performance. Net income decreased 24.8% year-over-year to $3.8 million but increased 10.9% from the previous quarter. Key highlights include:
- Record loans of $1.054 billion, up 9.2% year-over-year
- Net interest margin improved to 2.48%
- Efficiency improved to 67.37% from 69.72% in Q1 2024
- Book value per share increased 20.1% year-over-year to $30.68
- Total stock repurchased increased 119.6% from Q1 2024
The company faced challenges from higher interest rates but remains optimistic about future performance based on loan pipeline and strategic balance sheet management.
First Farmers and Merchants (OTC Pink: FFMH) has declared its 100th cash dividend. The quarterly cash dividend of $0.24 per share, reflecting a 4.3% increase from the previous year, will be paid on July 22, 2024, to shareholders on record as of July 8, 2024. The milestone underscores the Board's commitment to consistent shareholder returns. First Farmers has been paying dividends since 1983 and shifted to quarterly payouts in 2016 to offer more frequent capital returns. CEO Brian K. Williams emphasized the importance of strong dividend payouts for long-term shareholder value and expressed optimism about the company's strategic direction and future earnings performance.
First Farmers and Merchants (OTC Pink: FFMH) announced the hiring of Teresa Matthews as Secondary Mortgage Operations Manager. Matthews brings over 20 years of experience in mortgage operations and secondary market management. She previously served as Mortgage Operations Manager and Senior VP at Lineage Bank. Her new role at First Farmers involves managing risk, quality assurance, and secondary markets. Matthews’ expertise is expected to contribute significantly to the bank's strategic goals.
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