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 reports recurring financial and corporate updates as the holding company for First Farmers and Merchants Bank, a community bank serving Middle Tennessee. News commonly covers quarterly earnings, net interest margin, loan and deposit trends, book value, liquidity and capital measures, and activity in wealth management and trust services.
Company releases also include quarterly cash dividend declarations, annual shareholder meeting results, director elections, auditor ratification, executive finance leadership changes, and growth initiatives such as loan and deposit production offices and business banking team expansion.
First Farmers and Merchants Corporation (OTC Pink: FFMH) reported a net income of $4.5 million for Q2 2022, a 17.1% decline year-over-year due to a one-time $1.8 million gain from Visa stock in Q2 2021. Despite this, the company showcased 23% annualized loan growth and a 4.5% increase in net interest income to $11.7 million. Adjusted net income rose 13.8% to $4.5 million. Total deposits decreased 5.9% quarter-over-quarter but increased 10.9% year-over-year. The bank maintains a solid asset quality with nonperforming assets at 0.08%.
First Farmers and Merchants Corporation (OTC Pink: FFMH) has declared a quarterly cash dividend of $0.21 per share. This dividend will be distributed on July 15, 2022, to shareholders on record as of July 1, 2022. As of March 31, 2022, the company reported total assets of approximately $2.1 billion and total shareholders’ equity of around $124 million.
First Farmers and Merchants Corporation (OTC Pink: FFMH) reported a 22.6% increase in net income for Q1 2022, reaching $3.7 million compared to $3.0 million in Q1 2021. Net income per share surged 23.8% to $0.85. Total assets hit a record $2.1 billion, with deposits also reaching $2.0 billion, an 11.6% quarterly increase. Adjusted net income rose 31.6% to $3.8 million. Notably, nonperforming assets dropped to $1.0 million, reflecting improved loan quality. The company successfully launched its new digital banking platform and repurchased 466 shares under its plan.
First Farmers and Merchants Corporation (OTC Pink: FFMH) has declared a quarterly cash dividend of $0.21 per share, payable on April 15, 2022, to shareholders of record as of April 1, 2022. The company's Chairman and CEO, T. Randy Stevens, emphasized the importance of the dividend and the expanded stock repurchase program in building long-term shareholder value. As of December 31, 2021, First Farmers reported total assets of approximately $2.0 billion and total shareholders' equity of $159 million.
First Farmers and Merchants Corporation (OTC Pink: FFMH) reported a 10% rise in net income to $15.6 million for 2021, with adjusted net income up 14% at $14.8 million. Key metrics include a net income per share of $3.59, total assets reaching $2.0 billion, and deposits at $1.8 billion. The company also experienced significant growth in net interest income and trust services. However, the fourth quarter saw a 6.9% drop in net income compared to the previous year, attributed to one-time executive retirement expenses. The company plans new digital banking initiatives in 2022.
First Farmers and Merchants Corporation (OTC Pink: FFMH) announced its quarterly cash dividend of $0.21 per share, payable on January 14, 2022, to shareholders on record as of December 31, 2021. As of September 30, 2021, the company reported total assets of approximately $1.9 billion, total shareholders’ equity of about $161 million, and trust assets exceeding $6.2 billion.
First Farmers and Merchants Corporation (OTC Pink: FFMH) has announced that Brian K. Williams, currently the Bank’s President, will succeed T. Randy Stevens as Chairman and CEO, effective January 1, 2022. Stevens will remain as Chairman of the Board and CEO of the Corporation. Under Stevens’ leadership, the bank’s assets grew from $888 million to over $1.9 billion, and it expanded into new counties. Stevens is recognized for his significant contributions to the community and the bank's growth.
First Farmers and Merchants Corporation (OTC Pink: FFMH) announced the retirement of Tim Pettus as Vice Chairman of First Farmers and Merchants Bank, effective December 31, 2021. Pettus has been with the company for 19 years, previously serving as President and contributing to significant growth and market expansion. He will remain Vice Chairman of the Company until the annual meeting in April 2022. Under his leadership, the Bank strengthened its market position and was recognized for building a strong sales culture.
First Farmers and Merchants Corporation (OTC Pink: FFMH) reported a 10.6% increase in net income for Q3 2021, reaching $4.1 million. Adjusted net income rose 6.9% to $3.9 million, while net interest income grew 6.1% to $11.6 million. The company achieved record assets of $1.9 billion and deposits of $1.7 billion. Although net income dropped 25.7% from Q2 2021 due to a one-time gain last quarter, strong loan growth (excluding PPP loans) of 2.7% was noted. Stock repurchases increased 87.9% to 20,477 shares during the quarter.
First Farmers and Merchants Corporation (OTC Pink: FFMH) has declared a quarterly cash dividend of $0.21 per share, set to be paid on October 15, 2021, to shareholders of record as of October 1, 2021. The company reported total assets of approximately $1.9 billion and total shareholders’ equity of around $162 million as of June 30, 2021. First Farmers operates a community bank with 22 offices across seven counties in Middle Tennessee.